The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman, has drawn significant attention, especially regarding its agenda on reducing tax rates for life and health insurance premiums. This discussion, slated for the meeting in Jaisalmer, could have far-reaching impacts on the insurance sector, policyholders, and the broader economy. Here’s a deep dive … Read more
In recent times, health insurance has been thrust into the global spotlight, not for its merits, but due to controversies and systemic challenges. A particularly shocking event that brought the industry under scrutiny was the murder of Brian Thompson, the CEO of United Health Care, one of the largest health insurance companies in the United … Read more
In an era where innovation drives growth, the Employees’ Provident Fund Organization (EPFO) is undergoing significant transformations that aim to reshape its operations and offer newfound convenience for employees. These changes not only affect the broader financial ecosystem but also create unique opportunities for insurance agents to tap into a new market segment. In this … Read more
Health insurance companies in the United States are facing growing criticism for practices that appear to prioritize profits over the well-being of patients. Decades of denying claims, raising premiums, and implementing complicated appeals processes have left Americans burdened with medical debt and frustration. By contrast, systems in other countries, such as Germany, offer a strikingly … Read more
Government’s Decision to Increase 100% FDI in Insurance Sector – In recent years, the Indian government has made significant strides in opening the insurance sector to foreign direct investment (FDI) with an ambitious vision of achieving “Insurance for All” by 2047. The government is currently reviewing a proposal to increase the FDI limit in the … Read more
The Married Women’s Property (MWP) Act holds particular significance for married men in India when purchasing life insurance. This act is instrumental in protecting the financial interests of a man’s wife and children, ensuring that life insurance benefits intended for family support remain secure. By invoking the MWP Act, a married man can structure his … Read more
When Rohit received a staggering medical bill of ₹32 lakhs for his wife’s treatment, he relied on his health insurance policy to cover the cost. However, despite the valid claim, his health insurance provider rejected it, leaving him burdened with the entire amount. Multiple attempts to resolve the issue with the insurer were futile, pushing … Read more
What is PYGI Policy – The insurance industry is at a pivotal point where new concepts like “Pay as You Go Insurance” (PYGI) are gaining attention. With customers becoming increasingly savvy and demanding more flexible solutions, PYGI is emerging as a model that caters to this shift. But for insurance agents, this raises several concerns. … Read more