The Indian life insurer stood fourth on the list by S&P Global based on reserves. LIC has reserves of over $500 billion, as per the report. Sector watchers say that Asia is the next major market for growth for life insurance companies.
Life Insurance Corporation of India (LIC) has introduced a novel plan encompassing individual savings and whole life insurance. The plan is called LIC’s Jeevan Utsav with effect from November 29, 2023. This plan is non-linked and non-participating, offering extensive life insurance coverage throughout one’s lifetime.
LIC Jeevan Utsav insurance plan will provide assured returns and after maturity, the policyholder will get 10 percent of the sum assured life long.
Having health insurance is crucial for ensuring financial protection in case of medical emergencies. However, it is disheartening to know that a majority of claims get rejected by insurance companies.
Consider this scenario: Did you buy a health insurance cover of Rs. 3 – 5 lakhs for your family a few years back? At that time, the cover amount would have been adequate, but not today. Consider another scenario: Your employer provides you a health insurance cover of Rs. 3 – 5 lakhs for your family, or you are covered for a similar amount under a State Government health insurance scheme.
Even treatments that require less than 24-hour can qualify as day-care treatments and are thus eligible for health insurance coverage. Read to know what's included and what's not.
Today (30th October) is World Savings Day, A Special Day which re-emphasizes the importance of savings in our day to day life. Right from our childhood, We have been taught that "A Penny Saved is A Penny Earned'. The Phrase highlights the importance of savings which is an proven way for Financial Success.
To chart out a personal finance strategy without factoring in unexpected medical expenses is practically impossible in today’s world. It wasn’t too long ago when the world experienced an unparalleled health crisis in the form of a deadly pandemic, the after-effects of which can still be felt with long-term health issues. On top of that, the cost of healthcare is rising across the world.
While financial planners plan for retirement, education, marriage, home purchase, travel, etc., they generally miss out on one of the most important life goals – the physical survival goal. Here is how it can be remedied.
Buying health insurance can be a complex process, but it’s important to get it right. By avoiding the common mistakes, you can choose the best health insurance policy for your needs and budget.
Here are some key points to consider before purchasing health insurance policies for senior citizens
The 18 percent refund should sweeten the deal for expat Indians seeking to secure their families back home.
Health insurance is one of the most critical investments you can make keeping in mind the rising medical costs in the country. Getting a health insurance policy at an early age helps in better financial planning. This is because health insurance helps in saving taxes and provides financial assistance for medical expenses.
Rising healthcare costs and inflation are making it increasingly important for senior citizens o have health insurance. As we age, our bodies become more vulnerable to diseases and lifestyle disorders, which can lead to unexpected medical expenses.
To qualify for GST refunds on health insurance, the proposer must be a Non-Resident Indian.
There are a number of reasons why a health insurance claim gets rejected. Policyholders can take a few measures to get the claim approved.
A loan against insurance policy can be helpful during emergencies as it offers considerably higher loan value at comparatively lower interest rates. Many LIC policies come with a loan facility and the loan amount is based on the surrender value of the policy.
Understanding the reimbursement process and adhering to the necessary steps and documentation requirements is essential for a smooth and successful reimbursement claim experience.