Tax payers will now be able to claim higher deductions on health insurance policies. The Union Budget 2015 has increased the deduction for medical health insurance premium to Rs 25,000 for individuals and Rs 30,000 for senior citizens.
If you are an insurance policy holder confused about jargon such as pure-term, non-linked, co-pay cover, et al, here's some good news. The insurance sector is working on simple, plain-vanilla products to cater to people like you.
Comprehensive motor insurance policies for two-wheelers and private cars may turn out to be an expensive proposition for policyholders, with premia expected to be as much as two-and-a-half times more than what it would cost on an annual basis.
In a bid to encourage e-insurance or dematerialisation of insurance policies, the Insurance Regulatory and Development Authority of India has suggested that insurance companies offer a discount in premium for policies issued in electronic form, since the