Government lines up tax breaks for insurance

There could be a big cheer for India’s insurers in the national budget as the government plans to reduce service tax on premiums, protect existing policies from future tax changes, and relax rules on tax deducted at source to encourage households into buying more insurance cover. Read more

Life Insurance Corporation of India paid more than Rs 404 cr last fiscal as claims to BPL families

Life Insurance Corporation of India during the last financial year has paid more than Rs. 403.91 crores by way of claims to families below poverty line during last financial year under two insurance schemes Janashree Bima Yojana (JBY) and Aam Admi Bima Yojana (AABY). Read more