The Economic Times

Life insurance rule change: From October 1, 2024, you will get higher refund when you surrender your life insurance policy

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.

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Karnataka online trading frauds: Losses skyrocket from Rs 23 crore in 2022 to Rs 903 crore by mid-2024

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.

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5 reasons health insurance claims get rejected

5 reasons health insurance claims get rejected

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Budget 2024 reduces TDS on life insurance policy payout from 5% to 2%, Now get a higher payout on these case

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.

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Indexation benefit on sale of property removed; new LTCG rate of 12.5% announced for capital gains on sale of property

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.

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Has Section 87A tax rebate been increased in old, new tax regime in Budget 2024?

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.

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LIC thinking of diving into health insurance pool, eyeing acquisitions

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.

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3 changes in health insurance claim rules to help consumers: Reduced waiting period for pre-existing diseases, moratorium

The insurance regulator has made it compulsory for health insurance companies to reduce the maximum waiting period to get complete health insurance coverage in case of pre-existing diseases (PED) from 4 years to 3 years. The regulator modified the definition of pre-existing disease in its IRDAI (Insurance Products) Regulations, 2024, notified on April 1, 2024.

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How technology is easing the life of insurance customers

Insurance is one of the most effective ways to manage risks and secure assets; however, the insurance industry has been mainly susceptible to trust issues. Many people believe that insurers do not pay claims, but the data says otherwise; the industry has been paying claims and is bleeding.

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