What kind of insurance benefits will the forthcoming budget provide for the rural sector?
I am not sure whether there would be any specific provisions in the budget regarding benefits for rural insurance. Even if there were, these would have to be indirect benefits to encourage insurance companies to extend their reach to the rural areas. I am doubtful if there will be any incentives given , as the Insurance Regulatory Development Authority (IRDA) has already stipulated a minimum volume of business in rural areas that all insurance companies will have to undertake. What should the policyholders look forward to in the coming budget? The amendments in the Income Tax Act would be such as to bring about parity between the existing player and the new ones as regards gratuity and pension benefits. The policyholders can look forward to an additional sub-limit would be created under Sec. 88 for pension premiums. What should the insurance agents look forward to in the coming budget? Increased tax benefits for individuals would make it more attractive for their clients to buy insuran
