Browsing: Life

[ad_1] By Bhuvanaa Shreeram One OF THE MOST important considerations after retirement is how to properly manage your money so it serves you for the rest of your life. Upon retirement you may receive a significant corpus from provident fund, gratuity and other benefits. Or if selling off a business, you may receive a significant amount from the sale proceeds. What you do with this money will determine how much you can sit back and enjoy your second innings. What retirement planning is not? Retirement planning is not purchasing money-back policies and annuity plans. Retirement planning is not even investing…

[ad_1] Transfer of liabilities of around two lakh policies along with assets of Sahara Life is unlikely to have a major impact on SBI Life Insurance as the business of the former is very small, an expert said.The total number of policies being transferred is only a small percentage of SBI Life’s total policies, a company official said.At the same time, capital related to policies based on actuarial calculation is being transferred to SBI Life, an insurance industry expert said. Besides, the expert said that the new policyholders may provide an opportunity for SBI Life to offer their product depending…

[ad_1] Regulator Irdai on Friday directed SBI Life Insurance Company to take over the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co. Ltd (SILIC) with immediate effect.The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC. “The Authority has identified SBI Life Insurance Company Limited (SBI Life), which is one of the largest life insurers in the country with satisfactory financials, as the acquirer insurer of the life insurance business of SlLIC.”SBI Life shall take over…

[ad_1] While cricketer MS Dhoni has won millions of fans across the country and abroad because of his exceptional cricketing exploits, his words of wisdom can also inspire many. As Dhoni today plays the final of Tata IPL 2023 against Gujarat Titans in Ahmedabad, FE PF Desk stumbled upon a quote attributed to him on the Government’s recently revamped website for pensioners. The quote says, ‘Without any motion or movement there is no life’. Dhoni’s words mean a lot for an individual’s personal finance as well as for life after retirement. Just as motion or movement is necessary for life,…

[ad_1] Max Life Insurance Company Ltd. on Thursday (May 25) announced its highest-ever participating (PAR) bonus of Rs. 1,604 crores for its eligible policyholders in FY22-23. This is the company’s 21st consecutive annual bonus is nearly 8% higher than the bonus declared in the last fiscal. The declared annual bonus will be added to the benefits of approximately 21 lakh eligible participating policyholders, aiding their long-term financial goals, the insurer said in a statement. Over the past two decades, Max Life has consistently announced bonuses for its eligible policyholders. Commenting on the announcement, Prashant Tripathy, MD & CEO of Max…

[ad_1] By Shrikant Chouhan The benchmark indices witnessed profit booking at higher levels, Nifty ended 34 points higher while the Sensex was up by 18 points. Among sectors, the metal index continued to be outperformed, rallied over 2.5 percent whereas selective IT stocks registered profit booking at higher levels. On Tuesday, after a gap up opening, the market took the resistance near 18,420 and in the second half, due to intraday profit booking, it corrected sharply. However, the short term formation is still on the bullish side.  Technically, on daily charts, the index has formed a Hammer candlestick reversal formation,…

[ad_1] Life insurance companies are looking at new avenues and strategies to tide over the new provision to tax income from annual premium investments of over Rs 5 lakh in traditional cover policies. Having largely overcome their initial fears, the insurers now feel that new policy sales won’t be impacted much by the new impost, and expect new business to even exceed last year’s level in the current fiscal. According to industry sources, the Budget proposal has made insurers look at newer markets and deepen penetration to increase growth opportunities, and also tinker with their product mixes. A number of…

[ad_1] By AP Singh & Pallavi Seth As one moves forward in the journey of life, financial needs, requirements, and obligations keep on changing. So, in the case of life insurance planning, one should upgrade, make changes in the life insurance plans as per the requirements and financial obligations. Different stages of life require different insurance. Young and single: They are financially independent. With many youngsters involved in risky sports like river rafting or paragliding, personal accident and disability insurance is a must. If one has taken an education loan, then in case of untimely death, it can be a…

[ad_1] Bajaj Allianz Life has launched India’s first Small Cap fund in the ULIP segment. In a statement, the insurer said that the fund will offer customers an opportunity to achieve capital appreciation by investing in a diversified portfolio of small-cap stocks. Bajaj Allianz Life Small Cap Fund will track Nifty Small Cap 100 index. The New Fund Offer (NFO) for Bajaj Allianz Life’s Small Cap Fund will end on 23 May, 2023. Investment strategy As per the statement, the equity investment strategy of the Bajaj Allianz Life Investment team revolves around identifying companies with a competitive advantage, good corporate…

[ad_1] Life insurance is essential for individuals who have financial dependents, such as a spouse, children, or disabled dependents. It forms a crucial part of a solid financial plan. When you marry, have a child, or have a disabled dependent, it becomes your responsibility to provide for them financially. In such a situation, life insurance contract enables you to make good provision for your loved ones. How much life insurance should you go for depends on how much replacement income your family needs in your absence, for, say, the next 20 years. Life insurance is not only crucial for providing…