Skip to main content

Featured Post

Reliance Jio IPO: India's Biggest IPO Coming Soon? Valuation, ARPU, and Latest News

  New Delhi : Financial specialists are profoundly excited almost the Dependence Jio IPO and are anticipating it with awesome expectation. After two decades, Dependence Businesses is set to dispatch an IPO for one of its major commerce units. Presently, Mukesh Ambani has given a critical upgrade with respect to this Jio IPO . The draft outline for Jio Stages is anticipated to be recorded following month. This may possibly be the biggest IPO in the country's history. Dependence has designated a consortium of 19 banks to oversee this process.   Mukesh Ambani, Chairman of Dependence Businesses, has dropped a major indicate with respect to the exceedingly expected IPO of Jio Stages. Depicting it as a "definitive breakthrough," Ambani signaled that the company is quickly progressing in its arrangements for what is balanced to be India's largest-ever IPO. Talking amid the company's profit discharge, Ambani expressed, "I am satisfied to share that we are making...
Post a Comment

IRDA's Master Circular, Insurance Company will have to submit unclaimed amount to Senior Citizen Welfare Fund

IRDA's Master Circular, Insurance Company will have to submit unclaimed amount to Senior Citizen Welfare Fund

 


Have you taken an insurance policy? Have you not yet claimed if the insurance policy is over or its lapse (policy lapse)? If this is the case then there is very important news for you. Because, now if the insurance company has due policyholder due (policy due date) and it is not claimed within 10 years, then the company will deposit all the money in the government treasury. If you have also had a policy pending, then clear it in time.

 

The policyholder can clear the pending claim for a long time as soon as possible. If the claim does not end within 10 years, then you will not be able to claim it. After 10 years, the policyholder will have no right over that money. According to the master circular of insurance regulator IRDAI, all insurance companies in India will have to deposit their unclaimed amount after 10 years in the Senior Citizens Welfare Fund and these rules will be applicable to all insurance companies of India.

 

According to the information provided by the Union Minister of the Government of India, till September 30, 2018, about Rs 17,877.28 is lying with the insurance companies in the form of unclaimed amount. In this all amount, Life Insurance Company has a deposit of Rs 16887.66 crore and non-life insurance companies have a deposit of Rs 989.62 crore. Insurance Regulatory and Development Authority (IRDAI) has asked all insurance companies of the country to provide a search facility on its website. With the help of this, policyholders or their dependents can find out whether these companies do not have any unclaimed amount in their name.

 

The policyholder/beneficiary has to enter details such as policy number, policyholder's PAN, his name, Aadhaar number to find the unclaimed amount. It is important for insurance companies to tell about the unclaimed amount on their web portal. This unclaimed amount of information has to be given every six months. This unclaimed amount of information facility is available on the website of all companies. You can check by visiting this link.

 

Many times the nominee does not know about such insurance policy or the nominee does not get the policy documents. In this way, the nominee is not in a position to claim this amount after the death of the policyholder. To avoid such a situation, the nominee should not only know about the policy but also should know where the documents related to the policy are kept. It should not be forgotten to update the nomination in his insurance policy.


Labels:

Comments

Post a Comment

Popular posts from this blog

What is the Orange Economy? Top Sectors to Invest in 2026.

  In a time when mechanization and machine learning are changing conventional businesses, a flourishing portion of the worldwide economy is illustrating that human resourcefulness is still a important asset. The "Orange Economy"—also known as the imaginative economy or social industries—has played a major part in protecting culture, making occupations, and developing the economy. But what is this energetic thought, and why is it picking up conspicuousness in discussions almost worldwide development?   What is the Orange Economy?   The express "Orange Economy" was at first utilized by previous Colombian President Iván Duque Márquez and previous Culture Serve Felipe Buitrago. Concurring to the Inter-American Improvement Bank, it is "the organize of interconnected forms through which thoughts are turned into social merchandise and administrations whose esteem is decided by mental property."   Orange was particularly picked since it has been related with devel...
Post a Comment
Read more

Learn How to Confirm a Fake GST Bill

The Government of India actualized the Merchandise and Administrations Charge (GST) over the whole nation beginning July 1, 2017.   Through this article, learn how to distinguish and confirm a fake GST bill. In India, GST applies to all sorts of businesses, with the exemption of a few particular things.   Since its usage on July 1, 2017, a few changes have been presented to assist streamline the framework.   For occurrence, the turnover constrains for required GST enlistment has been expanded.   The turnover edge for picking into the Composition Conspire has moreover been re-examined. In truth, the directions overseeing the recording of GST returns have been adjusted.   Let us see into the directions and controls that apply as of the conclusion of January 2022. In "Typical Category" states, if a commerce substance has an yearly turnover surpassing ₹40 lakhs, getting GST enlistment is obligatory.   Already, this exception restrain was appropriate as it w...
Post a Comment
Read more

What is "money laundering," and how is it carried out?

  The term "money laundering" originated in the United States, emerging from the activities of Mafia groups. These Mafia groups amassed vast sums of money through illicit activities—such as extortion and gambling—and subsequently disguised these funds as income derived from legitimate sources (such as laundromats). It is noteworthy that money laundering became a matter of significant concern in the United States around the 1980s. Money laundering refers to the act of disguising illegally acquired "black money" as funds obtained through legitimate means. Essentially, it is a method used to conceal the illicit origins of financial assets. Through money laundering, funds are channeled into specific activities or investments in such a manner that even investigative agencies are unable to trace the money back to its original source. The individual who orchestrates this financial manipulation is referred to as a "launderer." In the process of money laundering,...
Post a Comment
Read more

Mastering the Market A Strategic Guide to Selecting Profitable Equity Stocks (2026 Edition)

  Choosing the suitable value stocks in freely exchanged firms might be vital to collecting riches in this competitive world of money related contributing.   It does not, be that as it may, offer a fast way to ended up affluent; instep, it calls for tolerance, chance resistance, and instruction.   The opportunity for benefit is genuine, but so is the hazard of losing your genuine cash in value markets, which are affected by anything from world occasions to innovative headways.   Millions are captivated by the guarantee of value showcase rewards, but as it were restrained financial specialists frequently produce genuine cash.   As worldwide esteem markets look at post-pandemic recalibration, AI-driven instability, and moving intrigued rate approaches, selecting the right stocks in 2026 requires more than fair great fortune.   This manual breaks through the clutter by advertising down to earth strategies based on imperishable thoughts and current showcase con...
Post a Comment
Read more

A Comprehensive Guide What Are the Best Stocks to Buy on the NSE?

  Introduction   India’s National Stock Exchange (NSE) is one of the world’s most dynamic value markets, advertising speculators introduction to a wide cluster of sectors—from data innovation and pharmaceuticals to buyer merchandise and budgetary administrations. As the Indian economy proceeds to develop, numerous retail and organization financial specialists ponder which stocks merit a put in their portfolios. Whereas there is no one ‑ size ‑ fits ‑ all reply, a taught approach that centres on essentials, valuation, and macro ‑ economic patterns can offer assistance you recognize high ‑ quality companies with solid development prospects.   Understanding the NSE Scene Metric What It Means for Investors Market Capitalization Large ‑ cap stocks (₹10,000 crore +) tend to be more liquid and less volatile, while mid ‑ caps and small ‑ caps can offer higher growth but come with greater risk. Liquidity (Average Dail...
Post a Comment
Read more

SBI Cards IPO - Initial Public Offer Detail

Incorporated in 1998, SBI Cards and Payment Services Limited may be a subsidiary of SBI, India's largest banking company in terms of deposits, advances and also the number of branches. SBI currently holds 689,927,363 Equity Shares. The company the 2nd largest credit card issuer within the country, with a 17.6% and 18.1% market share of the Indian credit card market (number of credit cards) as of March 31, 2019, and November 30, 2019, respectively, and a 17.1% and 17.9% market share of the Indian credit card market in fiscal 2019 and within the eight months ended November 30, 2019. SBI Cards offers a large range of credit cards to individual and company clients including fuel, rewards, shopping, lifestyle,  travel, banking partnership cards, and company cards, etc. SBI Cards has tie-ups with several leading companies across industries, including IRCTC, Air India, Apollo Hospitals, Etihad Guest, BPCL, Fbb, OLA Money and Yatra, amongst others. At the upper end of the ...
Post a Comment
Read more

Know that senior citizens get many special concessions in income tax

  People above 60 years of age, i.e., senior citizens, not only get the benefit of income tax exemption but also receive special relief from income tax on investments and returns. Elderly citizens do not have to pay any income tax on income up to Rs 3 lakh.   Exemption in tax limit under 80C limit: The tax exemption limit for old citizens in a financial year is Rs 3 lakh, while a common man gets tax exemption only up to Rs 2.5 lakh. For very senior citizens who are above 80 years of age, it is Rs 5 lakh. That is, if the annual income of a senior citizen is up to Rs 3 lakh and TDS has not been deducted, then he need not file an income tax return. Similarly, very senior citizens need not file income tax returns if they do not have an annual income up to Rs 5 lakh.   If the age is more than 75 years then no return is required: Those above 75 years of age are not required to file tax returns. There is no any need to file ITR for people above 75 years of age who are ...
Post a Comment
Read more

How to Identify Short-Term Stock Opportunities: A Strategic Guide to Targeting 5-10% Monthly Returns

  The lure of profit returns of up to 5% in short time frames of one to two months attracts both new and experienced traders. Whereas such targets are driven and come with a significant chance, understanding the strategies utilized by dynamic dealers can offer assistance you recognize stocks with increased likelihood for short-term appreciation. This comprehensive direct investigates noteworthy procedures, specialized markers, and crucial channels that dealers utilize to spot these openings whereas emphasizing the basic significance of hazard management.     Understanding the Scene of Short-Term Trading    Before jumping into particular stock choice criteria, it's basic to recognize that focusing on 5-10% month to month returns places you in the domain of dynamic exchanging or maybe than inactive contributing. This approach requires day by day showcase checking, restrained section and exit methodologies, and passionate flexibility. The stocks able of conveying s...
Post a Comment
Read more

What taxes do you pay on what? Where exactly is your money deducted?

  Taxes are applied everywhere, including when you shop, drive on the highway, and receive your salary. However, are you aware of the precise number of taxes that are being taken out of your wallet? Here, you can learn the basic math underlying a variety of levies, including property tax, GST, and income tax, and utilize this understanding to maximize your tax preparation. You pay taxes to the government in a number of ways, whether you realize it or not. For example, you pay taxes when you make purchases and when you receive a wage. Even just using the highway requires paying a tax. In summary, taxes play a crucial role in many facets of your life, but the crucial question is still how many different kinds of taxes there are and how each one affects you. In order to ensure that you will not be perplexed the next time you look at a bill or your pay stub, let us explain this complete system in plain, understandable terms now. Gain a Quick Understanding of the Whole Picture   • ...
Post a Comment
Read more

Follow-on public offer eliminates the need for promoter's minimum contribution now

  The Board of Securities and Exchange Board of India (SEBI) has approved some changes related to the follow-on public offer of the capital market, including several mutual fund regulations, in today's meeting. Regulator SEBI has lifted the lock-in ban for promoters' minimum contribution and issue in the follow-on public offer (FPO). Till now promoters of mutual funds have to make 20% contribution in the follow-on public offer. Market regulator SEBI has also added some conditions for this, the first of which is that the shares of the issuer company have been trading continuously for the last 3 years and the second thing is that it should have at least 95% investor compliance clearance.   According to these changes in the rules of Mutual Fund by SEBI, each scheme of a fund will have different asset and liability. Now the need to issue physical certificates of units of funds of mutual funds has also been removed. The maximum limit of exit load of mutual funds schemes and the...
Post a Comment
Read more