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30-04-2017
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Separate Tax Exception only For Life Insurance Premium
The insurance industry wants the government to create a separate tax exemption limit of Rs 50000 for life insurance premium in the forthcoming budget to encourage more individuals to buy such policies.

Currently investment in saving instruments, like risk cover, pension products, PF contributions, National Savings Certificates and others, are eligible for aggregate deduction of Rs 1 Lakh.

Investments in infrastructure bonds up to Rs 20000 also qualify for deduction.

Insurance sector needs capital on a periodic basis for expansion and experts hope that the budget session would also see passage of FDI bill in insurance sector to 49 per cent, from the current 26% level.

  
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Source : http://economictimes.indiatimes.com
More News Headline
  A Boon For Health Coverage After Retirement (2010-04-15)
Are You Concerned About Health Insurance After Your Retirement, When No Longer Covered Under A Company’s Group Mediclaim Policy?   Read More -->
  IRDA Tells Insurers To Ignore Sebi S Fresh Order (2010-04-14)
In A Sharp Rebuff To Market Regulator The Securities And Exchange Board Of India (Sebi) For Banning Issuance Of Any Fresh Unit-linked Insurance Products (ULIPs), Insurance Regulator IRDA Today Asked Insurance Companies To Ignore It Just Like The Previous Order.   Read More -->
  IRDA, Sebi Chiefs Meet Chawla To Resolve Ulip Row (2010-04-13)
Sebi Chairman C B Bhave And IRDA Chief J Harinarayan Had Separate Meetings With Finance Secretary Ashok Chawla Today On The Ongoing Tussle Between The Two Regulators Over Equity-linked Insurance Schemes   Read More -->
  Finance Min Considers ULIPs 'broadly' Similar To MFs (2010-04-13)
Much Before The Row Between Two Regulators The Securities And Exchange Board Of India (Sebi) And Insurance Regulatory And Development Authority (IRDA) Over Regulating ULIPs, The Finance Ministry Has Been Considering These Unit-linked Insurance Products "broadly Similar" To Mutual Funds.   Read More -->
  Ulip Row: Distributors Field Calls, Put Applications On Hold (2010-04-13)
Since Friday, When Sebi Fired The First Salvo By Banning 14 Insurance Companies From Selling Or Renewing Ulips, Investors Have Found Themselves Dragged Into A Battle Of Turf Between Sebi And The Insurance Regulatory And Development Authority (Irda).   Read More -->
  Sebi Says Ban To Continue On New ULIPs (2010-04-13)
A Day After The Finance Ministry Brokered A Truce Between Two Financial Sector Regulators, The Securities And Exchange Board Of India (Sebi) Today Said Any New ULIP Scheme Launched After April 9, 2010 By Insurance Companies Will Remain Covered By Its Earlier Ban Order.   Read More -->
  LIC Launches Its Credit Card (2010-04-12)
Public Sector, Life Insurance Corporation Of India LIC Finally Launched Its Much Awaited White-labelled Credit Card On Monday March 30th   Read More -->
  Round 1 To Irda: Ban On Sale Of Ulips Lifted (2010-04-12)
Regulators To Jointly Seek Binding Legal Mandate On Unit-linked Insurance Products   Read More -->
  There Is No Case For Dual Regulation (2010-04-12)
Had We Not Issued This Circular The Sebi Order Would Have Led To A Standstill And Many Policies Would Have Been Surrendered. The Amount Of Money That Would Have Gone Out Of The System Is Huge And Subsequently Many Policies Would Have Lapsed. This The Sebi Move Would Have Resulted In A Drying Up Of Revenue For Companies Which Is Not Good For The Economy And Its Growth. This Irda Order Is In Favour Of Policyholders And Insurance Companies.   Read More -->
  Clash Of Regulators Intensifies (2010-04-12)
Sebi Fired A Fresh Salvo On Sunday In Its Battle With The Insurance Regulator Saying It Would Widen Its Probe Into Ulips Which Irda Considers Its Domain.   Read More -->
  Regulators Should Resolve Differences On Their Own: Govt (2010-04-12)
The Government Is Unlikely To Intervene In The Turf Battle Over The Regulation Of Unit-linked Insurance Companies, Other Than Asking The Insurance And The Capital Markets Regulators To Resolve The Issue Amicably.   Read More -->
  ULIP Investors Are Safe: IRDA (2010-04-12)
Amid A Turf War With SEBI On ULIP Schemes Insurance Regulator IRDA Today Assured Investors That The Equity-linked Products Are Safe While Seeking Greater Clarity From Authorities On Jurisdiction Of The Two Watchdogs   Read More -->
Previous Month News
  Samvardhan - Pension Scheme ( Defined Contribution) For All LIC Agents (2011-03-06)
LIC India Has Decided To Start A Group Superannuation Cash Accumulation Scheme- ′Samvardhan′, For The Agents Of The Corporation. This Scheme Is Being Started With A View To Assist The Agents In Creating A Sizeable Corpus During Their Productive Year Which Can Be Used To Provide The Pension In A Structured Way, After The Accumulation Period.   Read More
  Life Insurance Premium To Cost More (2011-03-02)
Life Insurance Premium To Cost More After Finance Minister Pranab Mukherjee Said In His 2011-12 Budget Speech   Read More
  LIC India Samridhi Plus - ULIP Plan First 100 Months Highest NAV (2011-03-02)
This Plan Offers Payment Of Fund Value At The End Of Policy Term, Based On Highest Net Asset Value (NAV) Over The First 100 Months Of The Policy, Or The NAV As Applicable On The Date Of Maturity, Whichever Is Higher. NAV Of The Fund Will Be Subject To A Minimum Of Rs 10/-. This Plan Is Available For Sale For A Maximum Period Of 3 Months From The Date Of Launch.   Read More
Archive News Related to Insurance
  ING Life Launches Capital Protection ULIP (2011-01-05)
ING Life Has Launched ING Market Shield, A Guaranteed NAV (net Asset Value) Unit-linked Insurance Product.   Read More -->
  LIC Endowment Plus Helps Reach 2.5cr Policy Target (2011-01-31)
Life Insurance Corporation (LIC) Today Said It Has Crossed The Landmark 2.5 Crore Policies In The Current Year As Of January 29.   Read More -->
  Aegon Religare Life Insurance Launches Fixed-Benefit Health Plan (2010-08-31)
Aegon Religare Life Insurance Launched Its New Fixed-benefit Health Insurance Plan Called AEGON Religare Health Plan. This Plan Offers Several Unmatched Benefits Such As Coverage Of All Surgeries, Guarantees Payment In Case Of Claims And Cashless Facility In Over 3,000 Hospitals.   Read More -->
  HDFC Bank Set For Rural Push (2010-07-12)
The Country’s Second Largest Private Sector Lender, HDFC Bank, Plans To Capitalise On Its Acquisition Of Centurion Bank Of Punjab And Deepen Its Presence In Rural India.   Read More -->
  Motor Third Party Liability Cover To Commercial Vehicles - Good News (2010-12-21)
IRDA Has Set Up A Committee On Commercial Motor Third Party Liability Cover.    Read More -->
  New Agency Licensing Portal  (2010-06-07)
He New Agency Portal Has Come Into Operation From On 5th January, 2010. In Connection With The Operation Of The Said Portal, The Following Clarifications/instructions Are Issued By This Authority For Compliance. 1: Insurer Must Ensure That The CIE Of The Corporate Agent Is Issued A Certificate Entitling Him To Solicit Business On Behalf Of The Corporate Agent.   Read More -->
  New Ulip Norms Will Boost Customer Confidence: FM (2010-09-02)
Finance Minister Pranab Mukherjee Today Said The New Guidelines For Unit-linked Insurance Products (Ulips) Will Boost Investor Confidence And Draw More Customers To Such Schemes.   Read More -->
  Insurance Firms To Meet Finmin On Ulip Issue (2010-06-21)
Although The Uncertainty Over Regulation Of The Unit-Linked Insurance Products (Ulips) Has Been Settled, Investors In These Schemes Are Now Faced With The Possibility Of Getting Taxed At The Time Of Withdrawing Funds And Industry Players Will Soon Meet The Finance Ministry Officials To Address The Issue.   Read More -->
  HDFC Standard Life Hopes To Break-even In FY12 (2010-11-09)
Insurer HDFC Standard Life Insurance Company Ltd Expects To Break-even In The 2011/12 Financial Year, Helped By An Increase In Premium Income And Reduction In Operating Costs   Read More -->
  Reliance Life Launches Highest NAV Advantage Ulip Plan (2010-11-09)
ADAG Group Company, Reliance Life Insurance, Today Launched Of A Unit Linked Insurance Plan (Ulip) That Address Long-term Wealth Creation And Protection Needs Of Customers.   Read More -->
  Don't Tax Ulips At Withdrawal, Insurers To Tell Government (2010-06-17)
Also Wants The EEE Model To Be Applied To Pure Insurance Products. Life Insurance Council, The Representative Body For Life Insurance Companies In India, Will Push For Changes In The Proposal To Treat Unit-linked Insurance Policies (Ulips) On Exempt-exempt-tax (EET) Basis Under The Direct Tax Code.   Read More -->
  IDBI Fortis Life Insurance Is Now IDBI Federal Life Insurance (2010-08-31)
IDBI Fortis Life Insurance Company, In Association With Federal Bank, Has Changed Its Name To IDBI Federal Life Insurance Company, In Association With Ageas. The Company Has Completed All Legal Formalities For Change Of Name And Has Already Obtained The Approval Of The Registrar Of Companies And Insurance Regulatory And Development Authority (IRDA).   Read More -->
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