INSURANCE

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Must Read: These Six Big Changes From Today

SBI’s Home Loan Costlier The country’s largest bank State Bank of India (SBI) will increase its internal benchmark lending rate (EBLR) by 0.4 per cent to 7.05 per cent. Whereas RLLR will be more than 6.65 per cent. According to SBI’s website, the 10 bps increase in MCLR will also be applicable from June 1. …

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Before Taking Life Insurance, Know What Are Endowment Plans, How Are They Different From Money Back Plans

What are Endowment Plans  Endowment plans are life insurance plans only. But here along with life coverage, the insured also gives the option of regular savings after a fixed time. When the insured invests in an endowment plan for a certain period of time, after that a lumpsum amount is given to the insured as …

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Planning To Buy Electric Car? Know Important Things About its Insurance

Let us know about some important rules related to electric vehicle insurance. What is included in insurance Road accidents- Damage, loss due to road accident to the vehicle owner is compensated by the insurance company. Replacement and Repair- If your electric car has any kind of parts to be repaired or replaced, then the insurance …

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Insurance Companies Settled 93 Percent Cases Of COVID-19

Insurance Companies Settled 93 Percent Cases Of COVID-19

By bringing the COVID epidemic under the purview of health insurance, the central government has given great relief to the people. Ever since the outbreak of the pandemic, COVID has been brought under health insurance, government insurance companies have filed COVID insurance claims worth Rs 17,537 crore till December 2021. Union Minister of State for …

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To Save Tax, Make Investment Strategy Like This At Last Moment

To Save Tax, Make Investment Strategy Like This At Last Moment

You can save tax by investing here ELSS: Equity Linked Savings Scheme (ELSS) is also known as Tax Saving Mutual Fund. You can invest in it through fund houses. On this one can save tax up to 1.50 lakh annually under section 80C of Income Tax Act. But, next time you should consider investing in …

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Insurance Companies Alerted About Fake Motor Insurance Policies

Insurance Companies Alerted About Fake Motor Insurance Policies

Companies alert on fake motor insurance Companies have become cautious about the rapidly increasing fake insurance policies. Many a times, insurance policies of two-wheeler segment are issued fraudulently to high class vehicles. This makes a big difference between the premium payable to the company and the premium marked in the soft copy. Method of fraud …

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This Scheme Of LIC Will Strengthen Financial Level Of Those Who Earn Less. 110% Benefit On Maturity

This Scheme Of LIC Will Strengthen Financial Level Of Those Who Earn Less. 110% Benefit On Maturity

The name of the smallest plan of LIC is Bhagya Lakshmi Plan. This scheme can prove to be very helpful for those people who are financially weak. Bhagya Lakshmi plan has been specially introduced for the low income group people. This scheme is of low sum insured, in which no GST is applicable. Let us …

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Health Insurance Premium Will Be Expensive in The New Year

Health Insurance Premium Will Be Expensive in The New Year

In the new year 2022, private hospitals are preparing to increase the treatment and package charges by up to 10 percent, which will also affect your health insurance premium. The increase in hospital charges will have more impact in the group insurance premium that is renewed every year and insurance companies will increase the group …

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PhonePe Launches Health Insurance Cover At Just Rs 999. Know Details Here

PhonePe Launches Health Insurance Cover At Just Rs 999. Know Details Here

PhonePe has launched a health insurance plan for Rs 999. The company’s latest health insurance plan Health@999 will meet the needs of first time health insurance buyers. Especially young people who are buying their first health insurance cover to save themselves from the cost of treatment. The latest offering is a first of its kind …

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Must Read: Term Insurance Rates Are Set To Increase From The New Year

Must Read: Term Insurance Rates Are Set To Increase From The New Year

If you are thinking of taking a term insurance plan, then decide soon. Actually, from January 2022 i.e. new year, there is bound to be a big increase in the rates of term insurance plans. According to Tarun Chugh, MD and CEO, Bajaj Allianz Life Insurance, insurance companies have given a deadline to increase rates. …

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Insurance Policies from 40+ Companies at One Place. Check Plans Here

Insurance Policies from 40+ Companies at One Place. Check Plans Here

With Tax Concept, you can take insurance plans from 40+ companies at one place. You just need to send an email at dhanraj@taxconcept.net with your full name, mobile number, date of birth (DOB) and the nature of policy you want to take (eg. Life Insurance/ Motor Insurance etc.) A person from Tax Concept will call …

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INSURANCE

Want to Take Health Insurance Cover for Your Parents During COVID-19? Here are the Options

The COVID 19 is wreaking havoc in India. Not only physically and mentally, but financially too. Medicines and oxygen are costing much more, and hospitalization expenses too have gone up manifold. We have been getting many queries on how insurance cover can be increased or taken, especially for parents. Those in formal employment may have …

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INSURANCE

Checking into a Hotel for COVID-19 Treatment? Here’s How You Can Claim Reimbursement from Your Insurer

If hospitals running short of beds and you have tied up with hotels to act as depending on the facilities available, patients could get access to doctor visits, nursing services, monitoring and even oxygen support at such hotels. In fact, a few state governments, too, have converted some hotels into temporary COVID-19 care facilities. [ihc-hide-content …

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IRDAI

49.87 Crore People had Health Insurance Coverage in F.Y. 2019-20: IRDAI

Insurance Regulatory and Development Authority of India (IRDAI) has informed that the total number of lives covered under health insurance business (excluding Personal Accident & Travel Business) in Financial Year 2019-20 was 49.87 crore. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply …

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Insurance Ombudsman Rules Amended for Better Resolution of Policyholders’ Complaints Regarding Insurance Service Deficiencies

The Government on 2nd March 2021 notified comprehensive amendments to the Insurance Ombudsman Rules, 2017, with a view to improve the working of the Insurance Ombudsman mechanism to facilitate resolution of complaints regarding deficiencies in insurance services in a timely, cost-effective and impartial manner.

BIG RELAXATION TO LIFE INSURANCE POLICY HOLDERS

BIG RELAXATION TO LIFE INSURANCE POLICY HOLDERS IN THE WAKE OF COVID-19

Big Relaxation to Life Insurance Policy Holders in the wake of COVID-19 Key highlights : > IRDAI extended grace period up to 31st May, 2020 for all policies where premium was due in the month of March, 2020. Overview : > The Insurance Regulatory and Development Authority of India (IRDAI) vide Circular Ref: IRDAI/Life/Grace Period …

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INSURANCE (AMENDMENT) RULES, 2020

OVERVIEW OF INSURANCE (AMENDMENT) RULES, 2020 MINISTRY OF FINANCE, (Department of Financial Services vide notification/ Gazette id No. CG-DL-E-01042020-218994 and G.S.R. 229 (E) issued dated 01st April, 2020 has published Insurance (Amendment) Rules, 2020. APPLICABILITY They shall come into force on the date of their publication in the Official Gazette, i.e. 1st April, 2020. CHANGES …

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