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Top News In அலகு இணைக்கப்பட்டுள்ளது காப்பீடு பாலிஸீஸ் Today - Breaking & Trending Today

Tax benefits in ULIP are now at par with equity investments

Updated Feb 02, 2021 | 07:31 IST
Presently proceeds received on life insurance policies including ULIPs enjoy tax exemption under section 10(10D) if the premium for the policy does not exceed 10% of the sum assured.
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The finance minister has proposed amendments in the Income Tax Act in an attempt to make the Unit Linked Insurance Policies (ULIP) issued by life insurance companies on par with listed equity investments.
Present Provisions
Presently proceeds received on life insurance policies including ULIPs enjoy tax exemption under section 10(10D) if the premium for the policy during the premium paying term does not exceed 10% of the sum assured. So as long as the premium paid does not exceed 10% of the sum assured the money received in respect of such policies is fully tax-free in the hands of the policyholder. However, death claims received are fully tax-free irrespective of the quantum of premium paid. ....

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What private play changed in insurance in 2 decades

What private play changed in insurance in 2 decades
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Synopsis
Come 2020, she is selling lakhs of insurance policies at the tap of an app on mobile phones and all it takes is a few minutes to mail the policy document instead of weeks of wait for the policy to arrive by the unpredictable India Post to shove it to safety in the steel cupboard.
Agencies
With insurers such as ICICI Pru Life, HDFC Life, ICICI Lombard and GIC Re getting listed, investor interest is gathering momentum as well.
INSIGHTS
NSE
About a quarter of a century ago when a budding finance executive at ....

Vibhah Padalkar , Ayushman Bharat Yojana , Bimal Jalan , Sandeep Ghosh , J Hari Narayan , Naveen Tahilyani , Life Insurance Corp , Colgate Palmolive , Financial Services Consulting , Development Authority Of India , Securities Exchange Board Of India , Indian Merchants Chamber , Insurance Regulatory Development Authority Of India , India Post , Unit Linked Insurance Policies , Insurance Regulatory , Development Authority , Reserve Bank , India Governor Bimal Jalan , Exchange Board , Insurance Regulatory Development Authority , Unit Linked Insurance Products , Services Consulting , Mantri Suraksha Bima Yojana , Pradhan Mantri Jeevan Jyoti Bima Yojana , Atal Pension Yojana ,

Twenty years of private insurance: How the industry has shaped up

Twenty years of private insurance: How the industry has shaped up
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Synopsis
Come 2020, she is selling lakhs of insurance policies at the tap of an app on mobile phones and all it takes is a few minutes to mail the policy document instead of weeks of wait for the policy to arrive by the unpredictable India Post to shove it to safety in the steel cupboard.
Agencies
With insurers such as ICICI Pru Life, HDFC Life, ICICI Lombard and GIC Re getting listed, investor interest is gathering momentum as well.
About a quarter of a century ago when a budding finance executive at ....

Vibhah Padalkar , Ayushman Bharat Yojana , Bimal Jalan , Sandeep Ghosh , J Hari Narayan , Naveen Tahilyani , Life Insurance Corp , Colgate Palmolive , Financial Services Consulting , Development Authority Of India , Securities Exchange Board Of India , Indian Merchants Chamber , Insurance Regulatory Development Authority Of India , India Post , Unit Linked Insurance Policies , Insurance Regulatory , Development Authority , Reserve Bank , India Governor Bimal Jalan , Exchange Board , Insurance Regulatory Development Authority , Unit Linked Insurance Products , Services Consulting , Mantri Suraksha Bima Yojana , Pradhan Mantri Jeevan Jyoti Bima Yojana , Atal Pension Yojana ,

AMFI seeks same tax treatment for mutual funds as enjoyed by ULIPs

AMFI seeks same tax treatment for mutual funds as enjoyed by ULIPs
December 24, 2020
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The Association of Mutual Funds in India has reiterated its long-standing demand to bring parity in tax treatment of mutual funds and Unit Linked Insurance Policies, both of which are investment products and invest in securities.
Currently, ULIPs enjoy more tax benefits as compared to mutual funds in various aspects like no capital gains on switching, no STT (securities transaction tax) levied on the withdrawal proceeds from ULIPs, no income tax on the proceeds from ULIPs of insurance companies (including early surrender and partial withdrawals) subject to certain conditions. ....

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