Synopsis
“In Singapore and Germany, premium rates for a comparable cover are at least 20% higher than what one pays in India. This is why we see many non-resident Indians (NRIs) purchasing term life insurance cover in India.”
Term insurance premiums have gone up due to hike in reinsurance rates after Covid. But premiums are still quite low compared to what term plans charged 10-15 years ago, Tarun Chugh, Managing Director & CEO, Bajaj Allianz Life Insurance tells ET Wealth.
What has been the impact on the sales of life insurance plans after the recent changes in tax rules?
Pretty much everything that is market-linked is now taxed. If I just talk of the life
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