The insurance regulator IRDAI has come out with a standard individual term life insurance product, to be known as “Saral Jeevan Bima”. The policy shall be mandatorily offered by all the life insurance companies from January 1, 2021, onwards. In this respect, all life insurers have to file the product with the insurer latest by…
The Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines to all General and Health Insurers offering indemnity-based Health Insurance products for both Individuals and Groups (excluding PA and Domestic / Overseas Travel). These provisions and guidelines were issued by IRDAI under the provisions of Section 34(1) of the Insurance Act, 1938, and…
The fifth tranche of Sovereign Gold Bonds is open for subscription from today until the 7th of August, 2020. The issue price is Rs. 5,284 per gram including an Rs. 50 discount for online applications.These bonds are a substitute for holding physical gold. Each of those tranches will be kept open for a specified period…
Sovereign Gold Bond Scheme 2020-21-Series III will be opened for subscription for the period from June 08, 2020 to June 12, 2020 as per RBI press release today. As per the notification, the issue price of Gold Bond will be ₹4,627/- (Rupees Four Thousand Six Hundred and Twenty Seven only) per gram of gold. The…
Pursuant to Finance Ministry modified the PM Vaya Vandana Yojana (PMVVY) pension scheme for senior citizens, Life Insurance Corporation of India (LIC) has launched the non-linked, non-participating, pension plan subsidized by the Centre. The scheme will provide an assured rate of return of 7.40% per annum. This plan will be available for sale commencing from…
Today (April 27, 2020) Reserve Bank of India announced ₹50,000 crores of special liquidity facility for mutual funds. This was in view of liquidity constraints faced by the Mutual Funds intensified in the wake of large redemptions and high exposure to low-rated illiquid debt securities. The move follows in a bid to support mutual funds…
Reserve Bank of India publishes dates of 6 tranches of Sovereign Gold Bonds from April 2020 to September 2020 as per the calendar specified below. S. No. Tranche Date of Subscription Date of Issuance 1. 2020-21 Series I April 20-24, 2020 April 28, 2020 2. 2020-21 Series II May 11-15, 2020 May 19, 2020 3.…
Retirement is like a long vacation in Las Vegas. The goal is to enjoy it to the fullest, but not so fully that you run out of money –(Jonathan Clements). Retirement can be great joy all through your life if you have sufficient money to spend. One of the greatest difficulties after retirement you may…
A debt fund is a mutual fund scheme where the money is predominantly invested in fixed-income securities like government securities, debentures, corporate bonds, commercial papers, and other money-market instruments. The issuer of debt instruments pre-decides the interest rate you will receive as well as the maturity period. Hence, they are also known as ‘fixed-income’ securities.…
(This article analyses different scenarios where top-up or super top-up plans are useful) The Top-up plan of health policy covers hospitalization expenses when a single hospitalization claim exceeds the base policy. You cannot make a subsequent claim under the top-up policy when the sum available under the base policy is exhausted. In other words, the…