Coca-Cola denies US consumer group’s claim that its colouring ingredient causes cancer; yet the company says it will modify its drinks in India like it has in California
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Life insurance
Life insurance isn’t just about peace of mind; the right policy can earn good returns and save you tax as well. We explain the various options available
Insurance in India has always been dominated by government-owned companies. However, since 1999, when the government opened up the sector to private companies and allowed foreign direct investment (FDI) of up to 26%, the insurance market has been booming.
India now has the world’s fifth largest life insurance market, valued at $41 billion (Rs1.87 lakh crore) and growing at 32-34% a year, according to studies by the Life Insurance Council.
The Insurance Regulatory and Development Authority (IRDA) lists 23 life insurers, each of which sells numerous policies. This has led to greater awareness and choice, much-needed in our underinsured country (see ‘Human life value’).
However, the opening up of the market also means there are many more firms and agents vying for your attention, trying to sell you a wide — and confusing — variety of insurance-based investments.
What are the benefits of each of these, and which of them suits you best? Our report aims to help you find out, and also assess if you’re adequately insured.TO READ FURTHER... Please Login, Register or Subscribe Featured Articles
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