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Live Mint
Live Mint
LIC Index Plus Policy: Life Insurance Corporation introduces a new insurance-cum-savings plan. Ten key things to know
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Life Insurance Corporation of India (LIC) has launched the unit-linked, regular premium, individual life insurance plan Index Plus, which offers life insurance cover-cum-savings throughout the policy term
2024-02-06
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How to achieve tax efficiency through life and health insurance?
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Insurance can be a strategic tool for tax optimization, offering financial safety net and potential tax-saving benefits.
2024-01-03
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LIC introduces a new plan named Jeevan Utsav; all you need to know
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Life Insurance Corporation of India (LIC) has introduced a novel plan encompassing individual savings and whole life insurance. The plan is called LIC’s Jeevan Utsav with effect from November 29, 2023. This plan is non-linked and non-participating, offering extensive life insurance coverage throughout one’s lifetime.
2023-11-30
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75% of health insurance claims rejected; here’s how to avoid rejection
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Having health insurance is crucial for ensuring financial protection in case of medical emergencies. However, it is disheartening to know that a majority of claims get rejected by insurance companies.
2023-11-24
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How to enhance your health insurance cover with top-up and super top-up policy? MintGenie explains
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Consider this scenario: Did you buy a health insurance cover of Rs. 3 – 5 lakhs for your family a few years back? At that time, the cover amount would have been adequate, but not today. Consider another scenario: Your employer provides you a health insurance cover of Rs. 3 – 5 lakhs for your family, or you are covered for a similar amount under a State Government health insurance scheme.
2023-11-20
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7 key tips to save money on health insurance premiums
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To chart out a personal finance strategy without factoring in unexpected medical expenses is practically impossible in today’s world. It wasn’t too long ago when the world experienced an unparalleled health crisis in the form of a deadly pandemic, the after-effects of which can still be felt with long-term health issues. On top of that, the cost of healthcare is rising across the world.
2023-10-26
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Life Insurance Awareness Month: Underlining the importance of life insurance in retirement planning
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We observe “Life Insurance Awareness Month” in September every year, thus, reminding people of the need to focus on buying a life insurance plan.
2023-09-11
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How exemptions for insurance policies work
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The Finance Act, 2023, amended section 10(10D) of the Income Tax (I-T) Act to remove the exemption available to sum received from a life insurance policy in case the aggregate premium for all policies issued on or after the 1 April exceeds ₹5 lakh.
2023-08-20
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What is hospital cash insurance and how does it benefit policyholders?
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A hospital cash insurance policy is a specialized health insurance plan designed to provide policyholders with a fixed cash benefit for each day they are admitted to a hospital due to illness or injury.
2023-08-09
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What is the impact of high inflation on your life insurance cover? MintGenie explains
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Inflation is an inevitable aspect of any economy, and its effects can ripple through various financial instruments, including life insurance policies.
2023-07-26
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Rainy season resilience: The importance of health insurance during monsoons
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As the rainy season approaches, it brings with it an array of diseases and health risks that can affect individuals of all ages. From common ailments like stomach infections and coughs to more serious conditions such as viral fever, cholera, and malaria, the rainy season leaves us vulnerable to various illnesses if left untreated.
2023-07-19
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Why majority of individuals avoid buying a health insurance policy? Here are 5 key reasons
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For individuals living paycheck to paycheck or facing tight budgets, health insurance premiums may be seen as an additional financial burden.
2023-07-13
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National Insurance Awareness Day: 5 healthy habits to safeguard your health and well-being
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The pandemic has undeniably imparted valuable lessons, foremost among them being that "health" is our most precious asset.
2023-06-27
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Critical illness insurance: 5 common myths and facts you must know
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The Indian health insurance industry has seen massive transformation in the last few years. Post the COVID-19 crises, policyholders have turned their attention to the importance of having an appropriate health insurance policy.
2023-05-18
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Health insurance: Ways to avoid claim rejection and handle disputes
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Health insurance has become a high priority financial risk mitigation measure for individuals as well as families. Hospitalizations of family members during Covid-19 showed how grossly unprepared many were financially to meet hospitalization expenses.
2023-05-16
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Mother’s Day 2023: Why is insurance the best financial gift for her?
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How do you plan to wish your mother this Mother’s Day? Mother’s Day would be observed on May 14 this year. Apart from the gifts and flower bouquets that you might consider gifting, why not buy her insurance to secure her health and future in the long run? It’s not surprising to consider gifting insurance to your mother.
2023-05-13
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Common Reason why term insurance claims get rejected
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Facing a term insurance claim rejection can be distressing, particularly when the policyholder is the primary financial provider for the family. Although the policyholder might not be present to address a denied claim, it’s vital to understand and avoid common pitfalls that can lead to term insurance claim rejections.
2023-05-04
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8 reasons to buy a health insurance plan
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The purpose of the health insurance is to cover the hospital bills and related expenses. Today, we will give you top reasons why you should buy health insurance today and should not depend only on health cover provided by the employer.
2023-05-02
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Back New income tax rules: Proceeds from life insurance policy to tax-free income — changes from 1st April that you must know
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New income tax rule 2023: After ushering in new financial year from 1st April 2023, a good number of income tax rules are going to change. These income tax rules have been changed on the basis of Union Budget 2023 proposals that have been passed by the parliament in recently through Finance Bill 20223.
2023-03-31
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PAN-Aadhaar link to ITR filing: 5 money tasks to complete in March 2023
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ITR filing: Last date for submission of income tax return for FY 2019-20 is 31st March 2023.
2023-03-11
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Insurance vs Investment: 5 reasons why you should have both
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Insurance and investment are both important aspects of financial planning and should be considered together to create a well-rounded financial plan.
2023-03-09
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Health insurance: How to secure your financial health with it?
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It’s that time of the year again when tax planning is on everyone’s priority list. While one looks at growing their wealth, it’s also important to secure your health as a medical emergency can shake up the foundation of your financial planning.
2023-02-25
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Know how to buy the right term insurance plan
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Insurance products currently available in the market can be broadly categorized into two types—a pure vanilla term insurance plan and others. All ‘other’ insurance products would either be market-linked or provide guaranteed returns which are generally equivalent to the level of fixed-deposit rate of returns
2023-02-14
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Budget 2023 Expectations: Reasons why term insurance should become a standalone deduction
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The Budget is a financial blueprint that lays out the government's plans for revenue and spending for the upcoming year. This year's pre-Budget discussions have been particularly important as the world is still reeling from the economic impact of the COVID-19 pandemic. The government is expected to take into consideration the present global economic landscape while formulating the Budget.
2023-01-31
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New IRDAI Regulations: KYC is mandatory for all insurance buyers; check details
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Before the 1st of January 2023, it was not mandatory to get your KYC done for buying insurance policies.
2023-01-19
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Comprehensive health insurance policy: Here are 7 key features you should know
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Healthcare costs in our country have been rising at a faster pace. According to the latest reports from various health organisations, healthcare inflation in India is 14% per annum. While creating a financial plan for the family, insurance plays an important role in managing the risks. We have already discussed term insurance as a measure to mitigate the risk of death.
2023-01-05
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What senior citizens must take note of while buying health insurance.
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Senior citizens have limited options while buying health insurance, and that is why they must exercise utmost care before choosing one.
2022-12-08
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LIC launches WhatsApp services Know how to get all services on your phone
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The policyholders can very conveniently get the services like Premium statement, ULIP plan statement
2022-12-05
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Income Tax: Here's how life insurance policies are taxed in India
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As per Section 10(10D) of the Income Tax Act, 1961, death benefits are always tax-free. Maturity benefits, however, are taxed based on the premiums.
2022-12-05
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Buying a term insurance plan? These 4 things you should be careful about
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Notwithstanding the level of success you achieve, its longevity cannot be guaranteed. Among other things, permanent disability or death — the God may forbid — can throw all your plans and financial security of your family out of gear.
2022-11-21
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Health Insurance: Do you need top-up and super top-up plans?
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In these times, health insurance has become a neccesity as it guarantees that a long-term medication does not put your family in financial jeopardy. You can obtain coverage under a comprehensive health insurance plan by paying a nominal fee to the insurer. This helps safeguard your savings from the unexpected shocks of medical procedures.
2022-11-17
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What is maternity insurance and why should you buy it?
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Motherhood is one of the most loving experiences in everyone’s life. Planning for a child is one of the critical decisions for couples though it brings joy in every couple's life. The joy of bringing a newborn into the world comes with so many medical costs whether it is a normal delivery or C-section.
2022-11-17
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What if you fail to file your ITR by 31 December, 2021
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People are generally under the impression that the due date is also the last date beyond which you can not submit your ITR, which is not correct
2021-12-26
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Bank FD: What the changes to Deposit Insurance Act mean for investors
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Under the amendment, depositors of a bank under moratorium will no longer have to wait to access their money All commercial banks and even branches of foreign banks operating in India will come under the purview of this Act
2021-07-28
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Term and health insurance top priority amidst Covid-19 pandemic: Study
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According to a survey conducted by Policybazaar.com, over 90% of Indians believe that Health and Term insurance is important for their financial safety and mental wellbeing
2021-06-28
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When taking a home loan, ensure all co-borrowers have life insurance
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If there are co-applicants in the home loan, they, too, should have a life insurance. The recent deaths due to covid-19 have shown that it's always better if all borrowers are covered
2021-06-28
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