The Life Insurance Corporation (LIC) told Parliament on Monday that it has unclaimed maturity amounts of Rs 880.93 crore for the year 2023–2024.

In simple terms, a pre-existing disease is any health condition that an individual has experienced before purchasing a health insurance policy.

Health insurance is beneficial in difficult scenarios such as medical emergencies. Nonetheless, this is achievable only if the details provided by you and the company in the health insurance policy are clear.

The regulatory reform from IRDAI that attracted the maximum attention was the change in computation of surrender values and charges for endowment policyholders, but the regulator modified several other rules that directly affect retail life, health and general insurance policyholders.

The Bima Sakhi Yojana is a transformative initiative launched by the Life Insurance Corporation of India (LIC), designed to empower women, particularly in rural areas, by providing them with employment and financial independence .

This article explores how inflation erodes the value of Rs 1 crore over time, calculating its worth in 20, 30, and 50 years based on a 6% inflation rate.

Aadhaar card update: After extending the deadline multiple times in the past, the UIDAI has urged residents who got their Aadhaar issued 10 years back to get their documents updated by December 14, 2024.

As Budget 2025-26 approaches, senior citizens await potential tax relief. A query was recently raised in the Lok Sabha if the government plans to offer a tax rebate on incomes up to Rs 7.5 lakh and a 5% tax on Rs 7.5-10 lakh.

Term insurance is a straightforward life insurance policy that provides coverage for a specific period, or 'term'; if the insured person passes away during this period, the policy's beneficiaries receive a death benefit.

A woman from Faridabad was cheated out of Rs 7 crore, a businessman from Noida lost Rs 9 crore, and a doctor from Punjab’s Bathinda was defrauded of Rs 6 crore. These are just a few of the victims of a massive scam recently uncovered by India's Enforcement Directorate (ED).

New PPF rules effective today streamline account management for minors, multiple account holders, and NRIs, impacting interest rates and regulations.

Policyholders exiting traditional life insurance get more money back starting October 1, 2024. Irdai has asked the insurance companies to offer a higher special surrender value (SSV) for traditional endowment policies from October 1, 2024. The new 'special surrender value' rule mandates higher refunds, offering flexibility to switch plans.

Most victims from Karnataka are educated professionals, particularly techies from Bengaluru, who were duped after being enticed by fraudsters with promises of high returns or IPO allocation. And this has been a trend across the country when it comes to fake broking apps.

5 reasons health insurance claims get rejected

A common mistake is assuming that the value of retirement savings will remain constant over time. For example, a ₹5 crore corpus today will lose significant purchasing power over 25 or 30 years due to inflation.

Gift your sister a term deposit, a SIP in mutual funds, enrol her for a financial planning workshop or book an appointment with a financial adviser to make a personalised investment plan.

A recent report by Apollo Hospitals, one of India's leading healthcare groups, paints a grim picture of the nation's health. Released in April, the report dubbed India the “cancer capital of the world”, highlighting a worrying rise in cancer cases and other non-communicable diseases (NCDs).

Life Insurance Corporation of India (LIC) MD and CEO Siddhartha Mohanty has said that the corporation is looking to make fresh investments of around Rs 1.30 trillion in equities during the current financial year.

The insurance plans were launched on Monday by LIC CEO and MD Siddhartha Mohanty and will be available both available offline and online.

Any individual may submit an updated return, with certain exceptions, irrespective of whether they have previously filed an original, late, or amended return for the applicable assessment year.

ITR Filing Date 2024 Live Updates: The income tax return deadline might be extended beyond July 31. Fresh updates from Income Tax Department on ITR deadline extension! What we know so far about the current status and when to expect refunds after e-verification and processing of income tax return.

As per budget 2024 proposal you will now get a higher amount of payout from your life insurance policy as TDS rate has been reduced to 2%. “It is proposed that TDS under section 194DA of the Act be reduced from 5% to 2%” says explanatory memorandum of budget 2024.

The reduction in customs duties on gold and silver to 6% is expected to stimulate retail demand and help mitigate smuggling issues in the world's second-largest bullion consumer.

No increase has been announced in the tax rebate under Section 87A of the Income-tax Act in the Budget 2024. Tax rebate under Section 87A makes tax payable zero if an individual's taxable income does not exceed the specified level.

Taxpayers eagerly await budget announcements that will increase their disposable income. Here are a few of the main anticipations that taxpayers have for Budget 2024.

The budget 2024 announced the removal of indexation benefit available on sale of property. Due to this many people who sell their property will now not be able to inflate their purchase price and reduce their capital gains.

Union Budget FY25: FM Nirmala Sitharaman presented the 2024-25 budget focusing on job creation and boosting consumption. Key highlights include capex at ₹11.11 lakh crore, tax rationalisation efforts, and schemes for employment, skilling, and women empowerment.

ITR Filing 2024: Penalty amount for filing income tax return after due date will be imposed. Taxpayers need to be alert as the deadline to file ITR is approaching fast.

It is crucial to remember that your financial information holds significant value, encompassing all your investments and earnings for the year. Here are several important considerations to bear in mind before disclosing your ITR details.

The existing standard deduction of Rs 50,000 is considered inadequate to address the rising expenses linked to the increased cost of living and, therefore, it is imperative to raise the limit of this deduction.

The Income Tax Department has issued a strong advisory to taxpayers, advising them against submitting income tax returns with inaccurate claims for exemptions and deductions.

Regularly monitoring your financial records and staying alert for any suspicious activities is crucial for early fraud detection.

In order to file a tax return online, you can access the new income tax portal logging in with PAN-based credentials and following certain steps that simplify tax filing process.

National Insurance Awareness Day 2024: The event is set to be observed on 28 June, this year.

Our health deserves centre stage more than ever. As medical bills skyrocket and unexpected health crises loom, having a health insurance policy acts as a reliable safety net. It ensures you can access necessary care without fretting over finances. Understand six significant perks of having a health insurance policy in 2024.

There are 7 ITR forms the Income Tax Department has notified, and often, taxpayers get confused which ITR form is applicable to them.

Taxpayers required to file their income tax return should take into consideration the following.

Currently, the benefit of section 80C is not available under the default (new) tax regime and it would be expected that this benefit be extended to even the default tax regime.

After the new government formation, the focus is now shifted to the Union Budget 2024-25. Taxpayers are hopeful that the Modi government will give them a tax relief in the upcoming budget. Experts too are of the view that FM Sitharaman would at least make some revision in deduction limits under Section 80C and 80D.

Every taxpayer should make an effort to mitigate their tax liability by claiming all the available deductions and exemptions at the time of furnishing their tax returns. However, such deduction/ exemption amount should be correctly computed after considering the tax regime, residential status etc.

Under Section 30 of the Indian Succession Act, if someone dies intestate, the court may issue a notice to invite claims over the property left behind after the death certificate is issued.

LIC Q4: Its gross non-performing asset (GNPA) stood at 2.01 percent against 2.56 percent in the year-ago period The insurer announced an interim dividend of Rs 6 per share.

With an eye on expansion, the management outlined plans to penetrate Tier-2, Tier-3, and rural areas, and to fortify its position against private competitors

The government-owned Life Insurance Corporation (LIC) is looking to foray into the health insurance sector, reports said on May 28. The insurer is currently assessing potential acquisition prospects.

With a comprehensive financial retirement plan, it is easy to tide over apprehensions of exhausting the corpus that may have been built during the work years.