Meaning of Migration and Portability of Health Insurance Policies

Insurance

The IRDAI Migration and Portability guidelines apply to all Retail (Individual) and Group indemnity Health insurance products. Insurance Regulatory and Development Authority of India (IRDAI) via its circular numbers IRDAI/HLT/REG/CIR/002/01/2020 and IRDAI/HLT/REG/CIR/003/01/2020 has issued guidelines on Migration and Portability. The guidelines apply to both Individual-insured and Family floater sum-insured policies. Migration: The insured person may…

The Role of IRDAI in Insurance Industry

Insurance

The Insurance Regulatory and Development Authority of India (IRDAI), is a statutory body formed under an Act of Parliament, i.e., the Insurance Regulatory and Development Authority Act, 1999 (IRDA Act, 1999) for overall supervision and development of the Insurance sector in India. The Authority acts as the regulator of the insurance industry in India and…

Classification of Mutual Funds: know these 15 types of schemes available to investors

Investments & Insurance, Mutual Funds

Every major Mutual Fund Organization (MFO) in India has introduced at least a dozen schemes. These schemes are initiated and offered to the public, targeting different investor groups.  You have a choice of selecting a suitable scheme. Mutual Fund products can be classified based on their underlying portfolio composition such as the asset class the…

All information on the PPF scheme: New rules come into effect with several changes

Investments & Insurance4 Comments

Originally posted on December 21, 2019, updated on 09.11.2023 The government issued a notification on November 9, 2023, making several important changes in the popular Senior Citizen’s Savings Scheme (SCSS), Public Provident Fund (PPF), and 5-year post office time deposit. New rules for premature closure of Account: The earlier rule says; “Provided further that on…

Foreign Investments: Meaning of FDI, FPI and FII explained

Investments & Insurance

An investment made in India by foreign entities, non-resident Indians, and persons of Indian origin in Indian securities including shares, government bonds, corporate bonds, convertible securities, infrastructure securities, etc., is known as foreign investment in India. Based on the type of foreign Investments, they are classified as below. Foreign Direct Investment (FDI) Foreign Portfolio Investment…