Universal healthcare is a must for Viksit Bharat
Considering India is among the countries with the highest number of road accidents in the world, it’s welcome news that victims are on the Centre’s policy agenda for help. Too many lives are lost in such accidents. Prompt medical attention might have saved many of these lives. Those in dire need sometimes get turned away or face the danger of delayed treatment while hospitals figure out who will pick up their bills. Delays can harm even patients whose health is insured, as prior approvals for cashless procedures can take hours in a loop of claim checks. Given this backdrop, the government’s plan to facilitate cashless accident emergency care is thoughtful. On Monday, Mint reported that the ministry of road transport and highways has a scheme in the works that would provide up to ₹1.5 lakh of cashless treatment for every victim of a traffic mishap. This facility will be available to all without exception, regardless of whether they are covered by a health insurance policy or not, and will cover hospitalization for up to a week from the incident’s date at all facilities under the Ayushman Bharat plan. With payment assured, treatment refusals and delays should drop. The money so spent would be reimbursed through the Motor Vehicle Accident Fund, which was set up in January 2022 to compensate hit-and-run victims. The purpose of this fund will be enlarged accordingly.

Fixing mis-selling in life insurance
Mis-selling of life insurance policies through the bancassurance channel is today hitting media headlines more often than before. For instance, businessline dated October 31, 2023, reported that the Insurance Regulatory and Development Authority of India (IRDAI) had “formed a taskforce to look into various aspects of the bancassurance channel, including mis-selling.”

Take loan to avoid tax: a new loophole in insurance town
It's been a year since the tax advantage for high-premium traditional life insurance policies ceased to exist, leading to a decline in their appeal among high net-worth individuals (HNIs). However, the insurance industry has found a workaround. They're promoting the seemingly innocuous loan feature in these policies as a means to sidestep tax obligations on maturity proceeds.

Ageas Federal Life Insurance launches Cradle to Crease campaign featuring Sachin Tendulkar
Ageas Federal Life Insurance introduced its brand campaign film, ‘Cradle to Crease’, an initiative that drives home the message that while the future might be exciting, evolving and uncertain, by focusing on financial planning and investing in life insurance, one can face the future with optimism, hope and confidence.

ICICI Pru Life launches ULIP having fund value-based distributor payouts
According to the product specifications, customers have unlimited free switches between asset classes without any cost or tax implications.
 

‘Atmanirbhar’ Market: Mutual funds’ share in Indian firms hits fresh high! DIIs playing strong counter balancing role against FIIs
The gap between Foreign Institutional Investors (FIIS) and Domestic Institutional Investors (DIIS) with regard to their holdings in the Indian companies has narrowed further to hit an all-time low this quarter, according to a report by PrimeInfobase, an initiative of PRIME Database Group. The DIIs’ holding is now just 9.23% lower than FIIs holding in the Indian companies.

MF share in NSE cos hits fresh high in Q4

The share of foreign portfolio investors (FPIs) declined to a 11-year low of 17.68 per cent, down by 51 bps from 18.19 per cent as on December 31, 2023, resulting in the gap between FPI and DII holding narrowing further to an all-time low during the quarter.

Govt bond buyback eases liquidity strain
India’s central bank is stepping in to ease banking system liquidity conditions as a national election which stretches over six weeks is hurting government spending, despite strong tax collections.