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Updated Apr 15, 2021 | 06:21 IST
According to experts, most guaranteed return policies in the market are fetching a higher Internal rate of return (IRR) compared to fixed deposits, which now in some cases even fetch negative real rates. Representational image
New Delhi: Of late demand for guaranteed-return insurance plans has surged as it provides higher fixed returns for a longer term along with tax benefit. Even life insurance agents and bancassurance partners are also convincing customers that these plans will fetch higher returns on their long-term savings funds.
According to a report in the
Economic times, industry insiders say that demand for guaranteed insurance plans has surged by 15-20% in the last quarter of FY21. Should you opt for these plans amid falling interest rates on bank fixed deposits and high volatility seen in equity markets?
IndiaFirst Life Insurance registers 5% growth in individual new business
April 08, 2021
The private sector life insurer also crossed ₹4,000 crore of gross premium in 2020-21
IndiaFirst Life Insurance recorded a growth of five per cent or ₹894 crore in individual new business annual premium equivalent in 2020-21.
“This was the highest ever since its inception. This translates to a year on year growth of five per cent which, on the back of an industry leading 25 per cent year on year growth in 2019-20, is satisfying,” said Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance.
The private sector life insurer also crossed ₹4,000 crore of gross premium in 2020-21 and registered a growth of six per cent in total new business APE of ₹995 crore last fiscal, it said in a statement on Thursday.
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IndiaFirst Life s Deputy CEO shares his bucket-list, says real learning happens out in the wilderness of the world
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IndiaFirst Life s Deputy CEO shares his bucket-list, says real learning happens out in the wilderness of the worldBy
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Rushabh Gandhi wants to discover New Zealand with his family.
For Gandhi, who is a die-hard Mumbaikar and food lover, one of the challenging things during the pandemic has definitely been forfeiting street food.
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Post-pandemic world
“A post-pandemic bucket list has been in the making for close to a year now. In my mind the one thing that tops this and any list out there, is to get back to normal without any fear! Laughing in public without worrying about 50 people judging would be wonderful, wouldn t it? I miss the in-person interactions with friends and most certainly with my larger team spread across the length and breadth of the country! When life returns
ULIPs tax exemption linked to premium
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FDI limit in insurance raised to 74%
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FDI limit in insurance raised to 74%
Tax exemption on maturity proceeds of unit-linked insurance plans (ULIPs) offering components of both life insurance and investment, in debt and equity, will be available only if the annual premium paid is up to ₹2.5 lakh. The proposal will apply to ULIPs purchased on or after February 1.
However, the amount received on death, by nominee, will continue to remain exempt without any limit on the annual premium.
“The Budget endeavours to selectively bring in taxation parity between life insurance companies and mutual funds,” said Rushabh Gandhi, deputy CEO, IndiaFirst Life Insurance.