Insurance for All by 2047

Bima-ASBA Facility: You can use this feature while purchasing Bajaj Allianz Life policies; check details

by
Bima-ASBA Facility: You can use this feature while purchasing Bajaj Allianz Life policies; check details

Bajaj Allianz Life has become the first mainstream insurer to implement the BIMA-Application Supported by Blocked Amount (Bima-ASBA) facility. This initiative, launched by the Insurance Regulatory and Development Authority of India (IRDAI), aims to streamline operations, improve policyholder convenience, increase transparency, and simplify the insurance premium payment process.  Bima-ASBA offers policyholders the option to utilise … Read more

FDI limit in insurance sector increased to 100%: ‘India could be on the path to having 1,000 insurers’ 

by
FDI limit in insurance sector increased to 100%: ‘India could be on the path to having 1,000 insurers’ 

Finance Minister Nirmala Sitharaman in her Budget speech 2025 has proposed to increase the foreign direct investment (FDI) limit in the insurance sector from 74% to 100%, a move expected to bring more players into the market and drive innovation. “With 100% FDI now allowed in insurance, India could be on the path to having … Read more

Budget 2024: Higher tax exemption limit to reduction in GST rate, what is insurance sector expecting this time

by
Budget 2024: Higher tax exemption limit to reduction in GST rate, what is insurance sector expecting this time

Union Budget 2024: Indian insurance firms have been expecting various tax exemptions from the Central government in the upcoming Union Budget to improve the appeal and accessibility of insurance products, thus encouraging wider adoption across the country. Insurers specialising in life coverage are advocating for tax relief on annuities and a reduction in the goods and … Read more