Gift your sister a term deposit, a SIP in mutual funds, enrol her for a financial planning workshop or book an appointment with a financial adviser to make a personalised investment plan.

A recent report by Apollo Hospitals, one of India's leading healthcare groups, paints a grim picture of the nation's health. Released in April, the report dubbed India the “cancer capital of the world”, highlighting a worrying rise in cancer cases and other non-communicable diseases (NCDs).

Union Budget FY25: FM Nirmala Sitharaman presented the 2024-25 budget focusing on job creation and boosting consumption. Key highlights include capex at ₹11.11 lakh crore, tax rationalisation efforts, and schemes for employment, skilling, and women empowerment.

The reduction in customs duties on gold and silver to 6% is expected to stimulate retail demand and help mitigate smuggling issues in the world's second-largest bullion consumer.

LIC Q4: Its gross non-performing asset (GNPA) stood at 2.01 percent against 2.56 percent in the year-ago period The insurer announced an interim dividend of Rs 6 per share.

With an eye on expansion, the management outlined plans to penetrate Tier-2, Tier-3, and rural areas, and to fortify its position against private competitors

International Women's Day: Compared to motor insurance, where over 50 percent women said they understood their policy benefits and clauses, only 32 percent were aware of their health insurance coverage details.

The product is targeted at parents who wish to create a long-term corpus to meet the higher education needs of their children.

The insurer’s net premium income grew 4.67 percent to Rs 1.17 lakh crore in the quarter under review, from Rs 1.11 lakh crore in the year-ago period

While financial planners plan for retirement, education, marriage, home purchase, travel, etc., they generally miss out on one of the most important life goals – the physical survival goal. Here is how it can be remedied.

The 18 percent refund should sweeten the deal for expat Indians seeking to secure their families back home.

[Partnered] The right health insurance plan should be chosen after giving considerable thought to your needs, finances, and accessible possibilities. It's an investment in your health and financial stability that gives you peace of mind by ensuring that you and your loved ones are covered in the event of an emergency medical situation.

Health Insurance: Healthcare costs are skyrocketing significantly. And, this is when health insurance comes in handy. The financial security of an individual is protected by having health insurance. With the ever-rising instances of diseases, health insurance today is a necessity.

It is wise to purchase a personal health insurance policy even if you have one through your employer

Section 80D offers tax breaks on health insurance premium paid for self, spouse, children and parents. You can avail of tax breaks at the time of filing returns, even if you have missed out on claiming these while submitting tax-saver investment proofs to your employer

LIC earned net commission of Rs 8,428.5 crore for the last quarter of FY23, growing 5.4 percent over the year-ago period, and showing a massive 33.4 percent increase compared to previous quarter.

World Health Day 2023: Innovations in health insurance have led to the inclusion of day-care and OPD expenses, and even the cost of preventive health checkups, in certain policies for a reasonably priced premium.

LIC Q3 result: The life insurance behemoth’s net premium income grew by 14.5 percent to Rs 1.11 lakh crore for the December quarter from Rs 97,620 crore a year ago

A survey by ICICI Lombard showed that about 48 percent of policyholders were unaware of the features of their own health insurance policies, like out-patient cover, pre-post hospitalisation and so on.

Buying a term life insurance policy is the decision of a lifetime. So, it’s important that the amount arrived at is correct. Human life value (HLV) is one of the methods of computing the right cover amount.

Buying health insurance when you are comparatively younger and healthier will supplement your employer-provided cover for any higher hospitalisation bills and there will be no hassles in terms of renewability. If you want to buy insurance at an advanced age and have some new health issues, insurers may not even be willing to cover you.

A term life policy is as valuable for singles as for those married and with children. It will cover your liabilities, and ensure your dependents have financial protection in your absence.

Settling claims has never been an easy process, for insurers or for consumers. However, the process can be made simpler if consumers go in for digitally enabled insurance advisors who will help consumers choose the best policy as per their needs

The best option is always to ensure that your policy remains active and the premiums are paid on time. If, for some reason, your policy lapses, get yourself covered again as soon as possible.

In view of the rising incidence of health issues, increased cost of hospitalisation, employees should have a second line of coverage.

The most important document that is referred to at the time of the making a claim is the proposal form that is filled out when applying for the insurance policy

If you don’t want the hassle of renewing your policy each year and can afford the higher one-time premium outgo, opting for a multi-year health insurance plan could work to your advantage.

Taking treatment at non-cashless network hospitals, ‘unnecessary’ hospitalisation and ‘unreasonable’ charges are some of the lesser-known causes due to which your health insurance claims could get rejected

Health insurers can incentivise policyholders who meet wellness criteria by offering reward points or lowering health insurance premiums at the time of renewal. This feature is a win-win for both parties.

This Mother’s Day, you should consider purchasing an adequate and comprehensive health insurance cover for yourself and your family.

The main difference is that home loan insurance covers property, while a term policy covers a person’s life

LIC reserves up to 10% of offer size for policyholders

Medical insurance policies don’t cover all expenses incurred on hospital treatment. Becoming aware of the exceptions will help in the selection of a medical policy and reduce one’s out-of-pocket expenses.

A recent survey conducted by the Life Insurance Council showed that 91 percent of those surveyed are aware of what an insurance policy is, but only 60 percent own a policy.

Will seek feedback from policyholders on complaint resolution, lay emphasis on data analytics to ensure quick corrective action, says IRDAI chief Debashish Panda

The absence of a valid motor insurance policy will expose you to the risk of huge financial and personal loss, in the event of an accident. The absence of a policy can also land you in legal trouble.

Car and Bike Motor Insurance for Fire: Here are the key points you should know Individuals planning to buy a motor insurance for their cars of bikes need to be aware of certain facts when it comes to fire. Representative image

Third-party motor insurance cover protects you from the legal liability, financial liability, accidental liability, or property damage that may arise.

Many couples put off buying insurance, especially life insurance, considering the subject too morbid. But there are ways to bring this up by highlighting that it is actually a life-saver for your dependents.

The insurer may refuse to extend a policy or in some cases throw in a waiting period or an extra charge, but that's a better alternative than having your claim denied because you weren’t acting in good faith

Create an email that includes all that your family needs to know to make an insurance claim Term life insurance is a crucial step for securing the financial well-being of your family members when they do not have your shoulder to rely on.

Both these options are economical and offer a higher sum insured

Talk about everything, ranging from personal finance management, stock markets, investment plans or budget – the more couples converse, better is the education

Insurers will invest considerable resources in re-imagining the consumer's journey across the life cycle of a policy

Once you buy a policy, the term rates will remain the same throughout the tenure, so it makes sense to lock into lower rates now

The due date of furnishing of Return of Income for the Assessment Year 2021-22 was July 31, 2021; it has now been extended to December 31, 2021.

In case the minor children have not been appointed as nominees, the guardian can, on their behalf, produce proof such as death certificates

“I know these premiums would pinch us a bit, but both of us know that in case something happens to me in the next few years, our current savings are not enough to take care of Varun’s expenses for the rest of his life.” Madhavi could clearly recollect her late husband Rahul’s exact words while filling his life insurance claim form.

The RBI has been cracking down on weak co-operative banks over the last few years. In 2020, the RBI cancelled permits of three co-operative banks and imposed restrictions on several other banks.

EXCLUSIVE: LIC gross investments will exceed Rs 5 lakh crore in FY21, says chairman MR Kumar LIC's`contrarian’ strategy when investing in equity markets, to sell when the sentiment is bullish and buy when the mood is bearish, has paid rich dividends

This deduction is over and above the deduction of Rs 2 lakh for interest payments available under Section 24(b) of the Income Tax Act, 1961

If you do not require the entire PPF account balance in one go, it’s best to extend it

At the end of October 2019, LIC held a market share of 70.9 percent while private insurers held 29.1 percent based on new premium collection

Legal heirs of the dead must file income-tax returns for income earned in the year the dead passed away. Legal heirs cannot just merge the income with their own income and file just one tax return

While many women have a keen sense of finance, in most cases, they take a backseat when it comes to avenues for growing money and making investment-related decisions

MR Kumar, chairman of India’s largest insurer, due for an IPO next year, on his management style, the book that influenced him and lessons in leadership.

The term insurance cover should be calculated after factoring in existing savings and investments

During 2019-20, LIC registered a growth of 25.17 percent in its 'New Business' in terms of first year premium.

As of December quarter there were more than 350 stocks on the LIC's radar and in March quarter, it held stake in 326 stocks.

LIC’s term products launched last year, with lower premiums, could be the cheapest ones available in the market

The company has gained a market share of around 5 percent in the highly competitive biscuit segment, helped by Parle-G biscuits, which was proffered by the people while stocking pantry during the pandemic.

It joins Japan, Germany and some other European countries in selling debt yielding less than 0 percent, reflecting the prospect the coronavirus pandemic will cause a severe global recession and bond-buying by central banks to mitigate its impact.

The decision is restricted to six funds which, the company said, have material direct exposure to the higher-yielding, lower-rated credit securities in India that have been most impacted by the ongoing liquidity crisis in the market.

The Government has proposed to widen the scope and reduce the threshold of various transactions to further include even white good purchases, property tax payment, medical and life insurance premium and even hotel payments.

The PM-CARES Fund was set up on March 28 to raise money to deal with any COVID-19 like emergency situation and provide relief to the affected.

What happens to your EMI burden? Which kinds of loans will the moratorium apply to? What about the interest component? Read on

LIC says it will cross its 25 million policy sales target well before March 31. The Coronavirus outbreak and subsequent slowdown has led to uncertainty among Indian companies about their ability to meet sales targets for FY20.

The government official sees scope for a 50 bps repo rate cut

Investors can exit their mutual funds that had Yes Bank bonds, but they may have to do so at a loss

The bank will not be allowed to pay depositors a sum exceeding Rs.50,000/- lying to his credit, in any savings, current or any other deposit account, the government said in a notification.

The premiums for term insurance products may go up by 15-20 percent from April 1 onwards as reinsurance rates have been revised for these policies. LIC customers, however, may see a lower hike.

Section 80CCD: Income Tax Deductions under section 80ccd can be availed for contributions made by an employer to the National Pension Scheme.

Budget 2020 may ring in massive income tax relief.

Data from the LIC Annual Report 2018-19 released last week showed that the income from investments stood at Rs 2,21,573.72 crore at the end of FY19.

It is important to fulfil our overlapping needs and desires at the outset itself as we step into the world of financial freedom along with the ability to earn and chose our lifestyle

This is the first time ever any single vertical of the insurer has crossed this record premium income figure, LIC said in a statement.

The World Health Organisation (WHO) stated that India had the highest number of diabetics at 50.8 million till 2018 and estimated that the number will reach 73.5 million by 2025.

Japan, Germany and India will battle for third position over the next 15 years, according to the CEBR

This is for the first time in LIC's history that Valuation surplus has crossed Rs 50,000 crore, the insurer said in a statement.

It is important to revisit old plans for completeness and accuracy

While most provisions are part of the existing rule manual too, the recent notification has introduced a few modifications.

IRDAI data showed that women bought 36 percent of the 28.6 million policies sold in FY19

Life Insurance Corporation of India (LIC) is the only life insurance company in the country to have no pending complaints at the end of March 2019. According to the IRDAI Annual Report, LIC had no pending grievance despite 102,127 complaints being filed in 2018-19.

LIC yet again beat the industry in the collections with a 44.5 percent YoY growth in new premium to Rs 1.2 lakh crore.

The Corporation said any credit-card originated payments towards renewal premium, new premium, or repayment of loan and interest on loans against the policies will not attract any additional charges or convenience fee its parlance, from December 1.

The four policies – professional indemnity, personal accident, property and public liability – put together would cost a doctor less than Rs 25,000 annually

Be it a child plan, a unit-linked insurance plan or a traditional money-back plan, you can select one that best suits your requirement and goal.

In 2019, LIC is looking to invest a total amount of Rs 3.49 lakh crore into debt and equities

If you wish to reach your financial goals on time, you need to monitor both aspects of your finances

Home Loan Application Status: Here's how to check your housing loan application status online or offline at Moneycontrol. Click the above link to read more!

Taxpayers should go through the income tax website and familiarise themselves with the various services available

If you get penalised for bad driving, your motor insurance premium will go up

The list will make it easier for them to manage their monies once they go back to their professional and personal routines

At the end of October 2019, LIC held a market share of 70.9 percent while private insurers held 29.1 percent based on new premium collection

IRDAI has floated a draft proposal that will allow insurers to give premium discounts in health insurance for those living a fit lifestyle.

LIC saw a 41.7 percent YoY increase in first year premiums in H1

LIC asked its policyholders to not believe any rumours circulating on social media about the insurer's financial position

You shouldn’t be basing your savings decision on the notion that your sons and daughters will take care of you in your non-earning decades

IRDAI said that linking Insurance premium to traffic violations committed could reduce road accidents and change driver behaviour

Health Insurance for Family: Get the best medical insurance plan to protect & secure your family with the best coverage & benefits. Click to read more at Moneycontrol.

The standard retirement age and hence the coverage duration may not be relevant for everyone and may call for a review

LIC's market share stood at 73.17 percent in terms of premium collection.

Managing debt, keeping personal and business finances separate, and curbing reckless spending are critical

The ITR-1 form has been simplified this year, making it easier for salaried employees to e-file returns.

The borrowings will be in the form of bonds to be issued by the NHAI.

The amendment, along with 28 others, were approved by a voice vote by the Lok Sabha, which passed the Finance Bill 2019.

All the 24 life insurers had written new gross premium of Rs 16,611.57 in the same month a year ago.

Life Insurance Corporation of India (LIC) posted an 81 percent YoY growth in new premiums at Rs 44,794.78 crore in Q1

According to IRDAI, on the basis of total premium income, the market share of LIC decreased from 71.81 percent in 2016-17 to 69.36 percent in 2017-18.

The pre-Budget survey 2019-20 conducted by KPMG (India) included responses from 226 respondents spanning across industries.

The total policy payouts amounted to Rs 2.50 lakh crore for FY19, showing a 26.6 percent increase.

Keep loan EMIs to a maximum of 60 per cent of your salary to avoid getting into a loan trap

If one fails to declare such ‘income’ in the ITR, it could lead to reassessment under Section 147 of the Income Tax Act.

The process has become almost entirely electronic. You must use the correct forms and report the exact details of income as well as deductions

A lethal cocktail of high prices, drying up of bank lending and government efforts to reduce black money may combine to produce what many have anticipated -- in vain -- for long: a crash in realty prices in the country's metropolitan cities.

Selling, buying and/or mining cryptocurrencies will be considered a non-bailable offence, according to the new bill.

In the case of a jointly-owned property, each co-owner is liable to pay tax on his/her share of the rental income

Carefully estimate your regular, unexpected expenses, and medical costs while also factoring in inflation.

Dig into additional details to file returns for your income earned in FY 2018-19

Health insurance alone is not sufficient for old age. You need to have a separate healthcare contingency corpus too.

NSE did not exercise due diligence while putting in place TBT (Tick-by-Tick) architecture, SEBI said.

NSE did not exercise due diligence while putting in place TBT (Tick-by-Tick) architecture, SEBI said.

The monetary policy committee has reduced the key policy rate by 25 basis points to 6 percent in order to boost private investments and support domestic growth

Every year the Income tax department verifies the correctness of the income tax returns filed by taxpayers by sending a scrutiny notice to them. This exercise is aimed at ensuring that the taxpayer has not understated the income or has not computed excessive loss or has not underpaid tax in any manner.

The IRDAI said the order is being issued to enhance the policyholder protection and information.

A couple can choose to split the rent or housing loan installment in any proportion depending on the salary structure to reduce the burden of the tax.

It always better to look around before settling for one. If you don’t shop around, you would never have an idea of what others are selling

Senior members of the family need to educate the young on savings and make it fun by awarding the points if specific saving targets are met

People tend to procrastinate saving for their retirement since an early retirement is considered a luxury.

It is important to know that in case an employee is staying in a rented accommodation, HRA can be claimed as tax exempt, as per the prescribed rules.

Buying a house in the next 5-years can be termed as a well-defined goal. To achieve this, you must have your finances in place

The insurer must settle health insurance claims within 30 days from the day that you submit all necessary documents.

Diwali is a time when one can spend more money and have fun. Most of us seek more money every time we spend an additional rupee. Giving less and getting more is the mantra of most millennials. We should also apply this mantra to our money matters now. Here are five small changes that you can make to make positive changes to your personal finances.

The Insurance Regulatory and Development Authority of India (IRDAI) has extended the revival period 5 five years from the current 2 years in respect of non-linked products.

India, Bangladesh, Vietnam, Philippines and Indonesia are the most exposed countries to natural disasters

Having your house insured can protect you from financial losses caused by fire or natural calamities like flood, earthquake.

A critical illness such as cancer is a serious health condition that has a debilitating effect on an individual’s life

Insurance being a contract between the insurer and policyholder, it is mandatory to diligently read the documents properly before signing

The insured should inform the insurance company within 48 hours to 72 hours after your car meets an accident. Failing this, your claim can be rejected.

A long term comprehensive policy is applicable only for new cars & new bikes. It covers cars for 3 years & bikes for 5 years for both vehicle damage and third party.

In case of mutual funds, a differential rate of taxation is applied across fund categories.

Failing to plan is planning to fail—I am sure you must have heard that. But let me rephrase this old saying—Start your planning early and, you will end up reaching your goals early.

One of the most important things these days is to buy a suitable health insurance plan for our family. But we need to understand different aspects of the policy before buying and this is where sometimes we may make a mistake. If we buy a health insurance plan either in hurry or without complete understanding of the plan it may result in unpleasant experience at the time of claim.

The most common reason for insurance claim being denied is incomplete disclosure about the insured person.

If you frown at the amount of income tax you pay to the government, you should all the more considering saving for retirement.

Indian market bottomed out in October 2008 and has since then rallied over 400 percent, while there are many stocks which have given 10,000-50,000% returns since then.

Many of us buy health insurance policy only to save tax and often fail to update ourselves on the various features of the plan being purchased. Choosing a health policy for you and your family is a serious decision and it requires you to be fully aware of the policy and its benefits.

Only a third in India are regularly saving for their retirement while just 33 percent of working-age respondents globally are putting anything aside for their later life, according to a report.

IRDAI has asked insurers to make medical insurance available for mental health

Occurrence of cancer, in addition to being an emotional setback, is bound to be a financial affect the family unless there is a provision for it

Retirement is a major life transition – up there with marriage, buying a house, having children et al. It also starts a period of relaxation and frees up time to fulfil the remaining dreams of life, otherwise left unattended. However harsh it may sound, the ability to fulfil these desires hangs on the availability of money.

The Central Board of Direct Taxes (CBDT) has extended the due date for filing of Income Tax Returns from July 31, 2018, to August 31, 2018, for certain categories of taxpayers.

Filing your income tax return and paying the tax you are due to pay are two different responsibilities and both have to be discharged appropriately

The process can be quite cumbersome in the absence of efficient financial planning, and any negligence on the tax payer's part can lead to undue payment of tax

The last date to file your income tax returns is nearing. As you prepare to file your returns you should know the changes that have been incorporated in the tax filing form by the Income Tax department in the returns forms for the current year. In case you do not comply with the new requirements you are at risk of getting a notice from the tax department.

Here are a few seemingly less important things that all salaried individuals should take in account while filing their income.

IRDAI has given its nod to LIC to hold upto 51 percent stake in IDBI Bank

Repo rate is the rate at which the Reserve Bank lends money to commercial banks when there is a shortage of funds

Stocks hitting a fresh 52-week low when the benchmark index is 4-5 percent below its record high clearly denotes their (stocks’) feeble nature.

Health insurance is essential in today’s day and age and it is imperative to be adequately insured keeping in mind the increasing medical inflation and growing incidence of lifestyle diseases. It is therefore advised to buy a health cover early in life, say, by 30 or 35 years, so that one can serve the respective waiting periods when in best of health and utilise the policy when it is needed.

10 stocks in LIC’s portfolio that have emerged as multi-baggers in the last one-year

Health insurance policy can help you save tax as per Section 80D of the Income Tax Act. The upper limit of this deduction is Rs 25,000 for individuals and Rs 50,000 for senior citizens.

DSP BlackRock Investment Managers is a 40:60 joint venture between BlackRock and DSP Group

There can be varied reasons for which I-T department can send a notice, but if you get one, stay calm and then decide on the response.

One of the biggest mistake people make when it comes to buying a health insurance policy is purchasing it simply based on the price of the policy.

The income tax return may also be required as documentary evidence for any application for visas or for loans, etc.

Here are three primary reasons why you should start tax planning right from the time the new fiscal year starts.

Annuity products are the only financial instruments that provide long-term, open-ended guarantees in the form of a fixed income for a lifetime.

A nominee is just the receiver of the money. He has to eventually hand over the monies to the legal heirs.

Amid controversy over the government proposal to tax long term capital gains from equities, RBI Governor Urjit Patel said on Wednesday that there are five different levies on capital which impact investments and savings.

Data from the Life Insurance Council showed that LIC had collected Rs 99783.33 crore of first year premium for April to December period

With the ongoing buzz around the upcoming Budget 2018, taxpayers are concerned about the new income tax slabs that will be announced on February 1 as these slabs would determine the amount an individual will have to pay as taxes on their income in FY19.

Setting aside time to focus on money habits can make a huge impact on short-term financial health and provide just the motivation to kick bad habits, get your finances in order, and keep them that way.

The LIC magic: Zero pending complaints and best claims settlement Of every 100 death claims filed by families of deceased, 98.31 percent of them are passed

When you are young and healthy, your risk to health insurance companies would be less and hence premium would be lower.

The move could be part of a strategy to encourage people to save more in financial instruments.

A budget can help you standardise your fixed and variable expenses whereby you can easily generate some savings too.

The Finance Ministry on Monday said it will close subscription percent Government Savings (Taxable) Bonds, 2003, with effect from Tuesday.

The country's largest insurer collected Rs 1.48 lakh crore of total premium for the first six months of this fiscal, showing a growth of 12 percent. The new business premium grew by 23.7 percent in the period to Rs 68224.29 crore on a year-on-year basis.

Earlier, heart and kidney ailments apart from cancer were one of the most common exclusions in health insurance products

Life Insurance Corporation (LIC) sees a growth of 23.68 percent in the first 2 Quarters of Financial Year

LIC, the country's largest and the only state-owned life insurer, bought nearly 4.52 percent shares in Dena Bank in a period between May 23 to September 18, the bank said in a regulatory filing.

Life insurers registered a growth of 22.6 per cent in new premium at Rs 17,513.44 crore for August this fiscal.

You may not be able to use your SIM cards after February 2018, in case it is not linked to Aadhaar. The government is planning to deactivate the unlinked SIM cards from next year.

The intent is to avoid data duplication because those who sell insurance products do not work with multiple insurers or intermediaries in the same business category.

The insurance major increased stake in 40 companies during the quarter gone by which include names like L&T, SBI, Bank of India, IDBI and Dena Bank among others.

If it is a single premium policy or an endowment policy, the rate of tax will be 4.5 percent. In the case of a renewal premium, the tax charged will be 2.25 percent while if it is a single premium annuity plan it will be taxed at 1.8 percent.

Reviewing term life insurance coverage is a must and one should do it with utmost care.

In case you end up with an insurance policy you don't like, how do you get out of it? Here are a few suggestions.

Total new business premium, including pension and group business, rose to Rs 1.22 trillion in FY17, a growth of 25.8 per cent from around Rs 97,000 crore a year ago, a senior LIC official told PTI here.

Insurance Regulatory and Development Authority of India (IRDAI) decides the pricing for third party motor products which are mandatory for all vehicles running on Indian roads. In 2014, it introduced long term motor third party insurance policy for two wheelers with a three year term.

According to a survey, most Indians don’t have any concrete financial plans towards achieving their life goals.

Insurers consider HIV-positive patients a risky proposition and are likely to charge high premiums.

The report said that as of today, only 50 percent of women in the urban internet population in India have life insurance coverage as compared to 72 percent of men who have purchased life insurance solutions.

"The insurance penetration has started its northward journey is evident from the fact that it has increased from 3.3 percent in 2014 to 3.44 percent in 2015 on the back of various insurance schemes launched by the government," said the Assocham report.

The life insurance penetration is still tumbling in India, which currently is at 2.72% for the year 2015 dipping from 3.4% in the year 2011.

The government is working on the assumption that in times of cash crunch, the best way to achieve higher spending is by raising disposable income through tax breaks.

The current financial year has already seen 72 new products being developed in the life insurance industry, according to the country’s insurance regulator.

You should try and avoid taking on high life insurance premium payment commitments compared to your salary.

Till now, GIC Re was the only Indian reinsurance company. It is entitled to the right of first refusal and also has the privilege of cessions which means a portion of risk is to be mandatory ceded to it by an insurer.

Finance Ministry has asked two public sector general insurance companies -- Oriental Insurance and United India -- to improve their finances as the government looks to list the state-owned non-life firms.

V Manickam, Secretary General, Life Insurance Council, the umbrella body for all life insurers, that the industry confirmed the development to moneycontrol.com. He said the body had a sought a zero rate for insurance, which the government rejected.

Life Insurance Corporation registered total premium income of Rs 7,200 crore in November, up from Rs 1,740 crore a year ago, thus showing a growth of more than 300 per cent on year-on-year basis, a senior LIC official told PTI today.

The public sector lender will create, offer, issue and allot up to 1,71,44,954 equity shares of to Life Insurance Corporation of India for cash aggregating up to Rs 156.79 crore, Central Bank said in a regulatory filing.

Their collective first year (or new business) premium during September 2015 stood at Rs 10,415.35 crore, data collected by the Insurance Regulatory and Development Authority showed.