The principle behind life insurance is simple, in theory. You pay small amounts after regular intervals, so that, a beneficiary of your choice gets a sum of money, in your absence, approximating what you would have earned. The idea is that should your family suffer a crisis that transcends finances, at least their finances won't be impacted too negatively. Your spouse and kids won't have to take on multiple jobs, beg for alms, nor lose the house and car. Many people don't understand why they need life insurance, when they should buy it or what type of policy would best meet their needs.
State-owned insurer LIC's board has approved a 1:1 bonus share issue, granting one additional share for every share held on the record date. This move will be funded by capitalizing Rs 6,325 crore from reserves by December 2025 and is expected to be completed within two months of the board's approval.
Indian economy on strong footing but duration of West Asia conflict, resultant damage to the energy infrastructure add risk to inflation, growth outlooks, says RBI Governor Malhotra.
