Are you covered under Critical illness Insurance?
These days, Life and health insurance have gained a lot of acceptance. However, the same is not the case with critical illness insurance. Many people think that their regular health insurance is enough to take care of all types of illnesses and they are unaware of critical illness insurance policy. The regular health insurance products…
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Meaning of Migration and Portability of Health Insurance Policies
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…
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Do you know what is a hybrid security?
A hybrid security is a single financial security that combines two or more different financial instruments. Following the budget 2023, hybrid instruments held for longer than a year are now more tax advantageous than debt funds because they are subject to a 20% tax rate and may even be eligible for an indexation benefit. Contrarily,…
Read article The Role of IRDAI in Insurance Industry
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…
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Your Guide to Mutual Funds: 15 Schemes Explained
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…
Many changes made in SCSS, PPF and Post office savings rules
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. As per new rules, individuals of 55 Years and above who retired before 60 years of age can invest the retirement benefits in the…
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