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.

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.

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.

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.

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.

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.

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...

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.

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.