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Insurance industry of India is ranked as the 4th in corruption list of top ten corrupt industries. It was followed by financial services such as banking and insurance with 10 per cent. Insurance in India is a flourishing industry, with several national and international players competing and growing at rapid rates. Read more
The development of mankind from Adam and Eve is customized to change. The change is a common phenomenon which originates from the destruction of one living being and ends with the introduction of another. Read more
Investment is the employment of funds with the aim of achieving additional income or growth in value. It is allocation of monetary resources to assets that are expected to yield some gain or positive return over a given period of time. Read more
Life Insurance Products cover the risk of financial losses due to premature death. They also cover the risk of living too long by making payment in lump sum or in installments at old age. But generally, the risk coverage in life insurance means ‘covering the risk of financial losses due to the death of the life insured’. 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
Definition of Term Insurance is life insurance for a limited period of time. Prospects often faced with a sudden overwhelming liability for a limited period of time, need relief. Term insurance gives the cheapest and the quickest relief. And an effective one too. Read more