Page 3 - Insurance Cover

It's not the right stage to put differential premium on banks: Finance Secy

Finance minister had announced hiking the deposit insurance limit to Rs 5 lakh for each bank depositor

Budget 2020: Bank's deposit insurance premia to rise by over Rs 28,000 cr

Bankers say move will not dent their balance sheets significantly, but will take up the matter with RBI, which they say can share some of the burden

Budget 2020: Insurance cover for bank depositors to be raised to Rs 5 lakh

Finance Minister Nirmala Sitharaman on Saturday said the government has permitted DICGC to raise deposit insurance coverage by five times to Rs 5 lakh. Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly owned subsidiary of the Reserve Bank of India, provides insurance cover on bank deposits. Deposit insurance coverage will be enhanced from Rs 1 lakh to 5 lakh per depositor, the Finance Minister said her Budget speech in Lok Sabha. At present, the DICGC provides Rs 1 lakh insurance to a depositor regardless of deposit in case the lender fails or liquidated.

Buy pure insurance cover online to save at least 5% on paying commissions

Use offline channels when buying insurance-cum-investment products, as they are more complex and the fine print needs to be understood

Life insurance: Don't depend blindly on the agent, look at your needs

Ensure that you have a life and medical policy in place. This will safeguard your family against any eventuality and cover liabilities

Mandatory to have 3rd party insurance cover; SC refuses to extend deadline

SC said that third-party insurance cover for new cars should mandatorily be for a period of three years and for two wheelers, it should be for five years

Centre not to hike insurance cover of Rs 100,000 for bank deposits

Andhra Pradesh Chief Minister Chandrababu Naidu suggested an increase in deposit insurance cover to Rs 1.5 million in a letter to then finance minister Arun Jaitley in May

Wealthy Indians shop for overseas health covers

Quality conscious high net worth individuals are looking for generous health insurance covers that would cover treatments in destinations such as Singapore and the US.Their interest in such products offered by foreign and local insurance players was sparked in the wake of high-end stent-makers pulling out of the Indian markets, after price caps were imposed by the authorities."People with money who do not want to take a chance with something they have to live with for several years are looking to get these procedures done in places like Singapore and the US," said a senior executive with one of the corporate hospitals. "A procedure that could have been done in Rs 5 lakh here might now cost double or triple. So, they are looking for health insurance products that would cover these."For example, after the cap, the prices of Abbott's Absorb, which cost ~1.9 lakh each earlier, were slashed to ~29,600. But the manufacturers are not ready to supply at these prices. Last week alone, several .