Bima Sugam can be a game-changer for insurance

What is Bima Sugam? 

Insurance offices to function normally on March 30-31
``In order to avoid any hardships to the policyholders, the insurers are hereby advised to keep their offices open as per normal working hours on March 30-31, 2024,’‘ the Insurance Regulatory and Development Authority of India (IRDAI) said in a circular. 

Life Insurance: Should income tax benefit be a key or additional reason?
The 2023 Union Budget announcement in India rekindled the discussion on the financial benefits of investing in life insurance products, particularly the significance of tax benefits on such investments. In India, many individuals continue to view life insurance as a tax-saving instrument, using the premium amount to offset a portion of their yearly tax obligation.

Surrendering an insurance policy early to cost a pretty penny
A non-linked life insurance policy with higher persistency will see a marginal increase in surrender value from the fourth to the seventh year. However, if it is terminated within three years, the value will remain the same or may even be lower than the existing norms.

Smart Unit-Linked Insurance Plans: Opt for premium, investment flexibility for higher returns
Unit-linked insurance plans (Ulips) that offer premium flexibility and dynamic investment options are gaining popularity with risk-tolerant investors. Known as smart Ulips, there are no premium allocation and policy administration charges which are deducted from the insured’s premium, making them more cost-effective.

Why HDFC Ergo Optima Secure features in Mint-Beshak ratings
Health insurance is critical to meet the rising costs of healthcare, particularly where it concerns unplanned exigencies. But how do you choose the right health insurance product from among the various policies currently available in the market? To help you decide, Mint has curated a list of top five health insurance plans. This story, second in a Mint series, provides a detailed understanding of HDFC Ergo Optima Secure that secured the second spot based on ratings decided by Mint-Beshak.org. (ICICI Lombard Health AdvantEdge topped the list and was featured in January. For our coverage on this policy, go to www.livemint.com). Here are the reasons why HDFC Ergo Optima Secure deserves your attention:

Lot of ‘onion peeling’ for attaining global first: SEBI chief Buch on T+0 settlements
Speaking at the Indian Institute of Management Ahmedabad’s (IIMA) annual convocation on Saturday, SEBI Chairperson Madhabi Puri Buch, likened achieving the global first of T+0 settlement to “onion peeling,” involving extensive problem-solving and personal discomforts. Addressing the students as the chief guest of the 59th annual convocation, Buch described the process as akin to peeling layers of an onion, “making everyone cry in the process”, yet ultimately resolving all issues. 

Dual advantage of National Pension System: Save tax, build retirement corpus
Individuals who are still sticking to the old tax regime, which offers various tax deductions, should invest in the National Pension System (NPS) to save tax. Even those who have opted for the new tax regime, which does not offer any deduction, should also invest in the pension scheme to build a tax-free retirement corpus with higher returns.

PFRDA mandates two-factor Aadhaar authentication for CRA access from April 1
Pension regulator PFRDA has mandated 2-Factor Aadhaar Authentication for access to the Central Recordkeeping Agency (CRA) system for conducting National Pension System (NPS) related activities.

Monthly SIPs, gift fund & more: Edelweiss' Radhika Gupta's guide to investment plans for children
With the rising expenses of higher education in India, financial planning for parents has become a priority, in order to provide quality education for their children. Early planning in terms of where to allocate your funds for children gives more time to consider different investment avenues and develop a reliable investment strategy.

Mutual funds: ₹1 lakh invested in this Tata scheme at inception would have grown to over ₹41 lakh now
Investing in a mutual fund is considered a prudent way of creating wealth in a consistent way. The key reason behind this is compounding which allows small investment to grow multiple times over a long period of time.

Best mutual funds: These hybrid funds gave over 30 percent return in fiscal 2024. Check details
As the financial year comes to a close, investors can be seen examining the returns delivered by their mutual fund unit assets in the past one year. While the investors who invested into key benchmark index must be laughing their way to the bank as Nifty50 gave a handsome return of 30 percent in fiscal 2024, investors of mutual funds are not far behind.

FPIs make remarkable comeback; infuse ₹2 lakh crore in equities in FY24
New Delhi: Foreign investors made a strong return by injecting more than ₹2 lakh crore into Indian equities in 2023-24, driven by optimism surrounding the country's robust economic fundamentals amidst a challenging global environment.

Jaiprakash Associates plans to restructure bonds worth $120 million
In February, the debt-ridden company had announced plans to restructure these bonds.