Budget 2013: Need to make insurance more affordable for common man, says Ajay Bimbhet, Royal Sundaram Alliance Insurance Company

Non-life insurance segment has a very high potential to grow. However, in the absence of incentives, individual prefer saving instruments. Therefore, there needs to be a concerted effort to make insurance all the more affordable and attractive for the common man, says Ajay Bimbhet, Managing Director, Royal Sundaram Alliance Insurance Company Ltd, in his pre-Budget expectations. Read more


When the budget for 2006 was presented and passed, people in life insurance industry heaved a sigh of relief that there was no announcement about taxing the claim proceeds of life insurance policies (as well as PPF etc allowed for deduction u/s 80C) according the principle of EET (Exempt, Exempt and Tax) evolved in last budget, even though the EET committee appointed also is understood to have submitted a report in favour of taxing life insurance proceeds! Read more