[ad_1] Union Minister Nitin Gadkari’s recent letter to the Union Finance Minister, forwarding a memorandum from the Nagpur Life Insurance Union, highlights an urgent issue — the imposition of an 18% Goods and Services Tax (GST) on life and medical insurance premiums. The memorandum characterises this tax as a burden on life’s uncertainties and a […]
PNB MetLife launches Bharat Manufacturing Fund within ULIP category – CNBC TV18
[ad_1] PNB MetLife India Insurance has announced the launch of the Bharat Manufacturing Fund, a new investment option within its Unit Linked Insurance Plan (ULIP) category. The fund will allow policyholders to invest in India’s manufacturing sector, starting with an initial unit price of ₹10. The new fund launch period runs from August 1 to […]
Nitin Gadkari writes to Finance Minister to remove GST on life and medical insurance – CNBC TV18
[ad_1] Road and Transport Minister Nitin Gadkari has written to Finance Minister Nirmala Sitharaman, urging her to consider removing the Goods and Services Tax (GST) on life and medical insurance. This letter followed suggestions from the Nagpur Divisional Life Insurance Corporation Employees Union regarding the life and general insurance sectors. According to Gadkari, GST on […]
Budget 2024 announces new TDS rate on life insurance payouts: How will policyholders benefit – CNBC TV18
[ad_1] Starting October 1, 2024, life insurance policyholders will see a change in the amount they receive upon policy maturity or claim. The Tax Deducted at Source (TDS) on life insurance payouts will be reduced from the current rate of 5% to 2%. This adjustment is part of the recent Budget 2024 proposals and is […]
What’s driving the recent rise in insurance premiums? – CNBC TV18
[ad_1] In recent months, many life and health insurance companies in India have increased their premiums. Several factors contribute to these hikes, reflecting broader economic and industry-specific trends. Rising healthcare costs One of the primary reasons for the increase in insurance premiums is the rising cost of healthcare. Medical cost inflation significantly impacts insurance claims […]