ByTheBook Consulting’s Anurag Jain and Insurance Samadhan’s Shailesh Kumar in an exclusive interaction with Money9 shared their expert tips and insights regarding the new tax regime and insurance mis-selling respectively.
“The new regime doesn’t offer investment, loans or insurance-linked tax deductions, if you are eligible for it you should stick to the old regime. Do the number crunching well to make a wise decision,” said Jain.
“Insurance mis-selling can be of various kinds. It can be when a wrong contract is being made on basis of the wrong information. Sometimes in order to sell the policies, the maturity value is being told differently to the customers. Inflated maturity premium is promised. In some cases, the premium payment terms are not defined well. Agents also tend to hide pre-existing diseases and then the claims of customers are rejected later. Another example of mis-selling is that insurance is being sold as a loan or regular income,” Insurance Samadhan’s Shailesh Kumar said.
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