Times of India

With 96%, LIC leads in claim settlement ratio: Irdai

At 96%, LIC had the highest settlement ratio for death claims under individual death policies by value in FY22, data released by insurance regulator Irdai showed.

Date: 2022-12-26 / Source: Times of India
Read more..

Union Budget 2022: 10 key tax-related proposals

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday kept the income tax slabs unchanged yet again in what was a largely infrastructure-focused budget for the coming financial year.

Date: 2022-02-01 / Source: Times of India
Read more..

LIC’s asset base goes past Rs 38 lakh crore in fiscal 2021

MUMBAI: Life Insurance Corporation of India has said that its asset base has crossed Rs 38 lakh crore with total investments of Rs 36,76,170 crore and a life fund of Rs 34,36,686 crore as of March 2021.

Date: 2021-09-01 / Source: Times of India
Read more..

Covid drains bank accounts of uninsured

CHENNAI: Besides its debilitating health impact, Covid is draining the finances of its victims, particularly the uninsured, causing some to get into long-term debt.

Date: 2021-05-15 / Source: Times of India
Read more..

Budget 2021 Highlights: Govt to rationalise custom duties on gold,sliver

Union finance minister Nirmala Sitharaman presented the Union Budget 2021 in Parliament on Monday. The finance minister provided a major boost to healthcare and infrastructure in Union Budget 2021. However, there was no change in Income Tax slabs this year.

Date: 2021-02-01 / Source: Times of India
Read more..

Mediclaim policyholders see premiums rise up to 70%

BENGALURU: Annual premium on health covers have risen by 40-70% for policyholders after insurance companies hiked rates following a regulatory diktat to widen coverage and standardise conditions with regard to exclusions.

Date: 2020-10-15 / Source: Times of India
Read more..

Nearly 50% of our policies are bought by millennials: LIC Chairman

Life Insurance Corporation (LIC), which is set to get listed following the government’s decision to float an initial public offering (IPO), is expected to be the most valuable company in the country. In an interview with TOI, LIC chairman M R Kumar speaks of how the corporation keeps reinventing itself to remain relevant to every generation...

Date: 2020-09-12 / Source: Times of India
Read more..

LIC settles 561 Covid death claims, eases norms

MUMBAI: Life Insurance Corporation (LIC) of India has said that it has settled 561 death claims due to COVID-19 amounting to Rs 26.7 crore. The corporation has also relaxed its norms during the lockdown to allow payment on maturity claims based on email submission of survival benefit requirements and subject to conditions is settling such claims without the policy document.

Date: 2020-07-30 / Source: Times of India
Read more..

Prices of resale apartments drop 10% to 25%

Chennai/Delhi: Madhusudan’s apartment in Velacherry, a southern suburb in Chennai was sold for Rs 88 lakh, when a similar sized one in another block inside the same complex was picked up for Rs 1.10 crore last November. Prices of resale properties across the country are down 10% to 25% as cash strapped owners, most of whom had picked up their second apartment as an investment, try and liquidate.

Date: 2020-07-14 / Source: Times of India
Read more..

TDS, TCS rates for non-salaried payments cut by 25% till March 31, 2021

NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday announced a 25 per cent reduction in TDS (tax deducted at sources) and TCS (tax collected at source) rate for the current financial year. This will release liquidity worth Rs 50,000 crore.

Date: 2020-05-13 / Source: Times of India
Read more..

Googling for groceries among hot searches

BENGALURU: The Covid-19 pandemic has dramatically changed what Indians are searching for on Google. Online searches for grocery delivery, immunity, online classes, UPI transactions, and even coronavirus insurance have gone up dramatically this year, according to Google’s latest ‘What is India searching for’ report.

Date: 2020-05-07 / Source: Times of India
Read more..

Mumbai: Man loses dad, ends up with Rs 16 lakh bill at private hospital

MUMBAI: Not only did a Santa Cruz resident lose his 74-year-old father to Covid-19-related complications, but he was also left with a bill of Rs 16 lakh for his father’s 15-day ICU stay in a city hospital.

Date: 2020-05-04 / Source: Times of India
Read more..

Korean companies keen to move out of China to India

Chennai: Rising trade war between US & China has pushed South Korean companies to consider moving some of their factories from China to India.

Date: 2020-04-14 / Source: Times of India
Read more..

Wimbledon organisers to get over £100 million from insurance

LONDON: The 2020 edition of the Wimbledon had to be cancelled due to the outbreak of the coronavirus, but The All England Club is set to pocket over £100 million due to the insertion of a virus-related clause in the insurance policy post the SARS outbreak.

Date: 2020-04-09 / Source: Times of India
Read more..

Finance ministry extends motor, health insurance validity till April 21

BENGALURU: In a major relief for 23 crore individual vehicle owners and 40 crore citizens, who benefit from a private or state health insurance scheme, the ministry of finance has amended the law and extended validity of insurance papers till April 21, 2020.

Date: 2020-04-02 / Source: Times of India
Read more..

Missing two instalments may add 10 months to loan

NEW DELHI: Hit by the lockdown and faced with uncertainty, many people are looking to avail of the repayment relief that banks are offering. Although banks are yet to announce the details of the relief package and how it will work out, we do know that this is only a grace period and they are likely to charge interest for the unpaid amount.

Date: 2020-04-01 / Source: Times of India
Read more..

Tokyo Olympics officially postponed to 2021 due to coronavirus pandemic

TOKYO: The 2020 Tokyo Olympics have been postponed to no later than the summer of 2021 because of the coronavirus pandemic sweeping the globe, the International Olympic Committee announced Tuesday.

Date: 2020-03-24 / Source: Times of India
Read more..

India becomes 5th largest economy, overtakes UK, France

NEW DELHI: India emerged as the world's fifth largest economy by overtaking the UK and France in 2019, says a report.

Date: 2020-02-17 / Source: Times of India
Read more..