Insurance Premium News

Reasons why to get an home insurance

On October 12, the government announced the LTC cash voucher scheme under which employees can purchase any goods or services with GST rate of 12% or above to avail the benefit.

In a bid to pass on the benefit to customers, some companies such as Acko General Insurance Ltd are offering a discount of around 10-15% on renewal of motor policies.However, as of now, not all insurers are offering significant discounts.

Even though term plans may become more expensive in the coming months, understand that these products are important, and you must have one if you have dependents.It's important to remember that most term plans are level paying policies which means the premiums are set for the duration of the plan. The hike therefore would apply only to new policies that you buy.

NRIs are also allowed to deduct property tax paid and 30% standard deduction on rental income less tax paid

Irdai has asked insurance companies to allow policyholders to pay their annual health insurance premiums on a monthly, quarterly or half-yearly basis, but not all insurance companies have provisioned for this facility and the few that have might not offer the option to all policyholders

The extension will include continuity benefits for insurance policyholders, despite a delay in premium paymentThe government has extended the nationwide lockdown till 3 may to arrest the spread of coronavirus

This relaxation includes continuity benefit for insurance policyholders, despite a delay in premium payment, till 21 April in this case

The current term life insurance prices in India are actually unsustainable

Breaking traffic rules may affect your motor insurance premiumsOnce this rule comes into effect, even the smallest of violations could affect the premiums