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Shriram Life, ESAF Bank tie up to bring insurance to underserved communities
Shriram Life, ESAF Bank tie up to bring insurance to underserved communities

News18

time2 days ago

  • Business
  • News18

Shriram Life, ESAF Bank tie up to bring insurance to underserved communities

Last Updated: Chennai, Jul 22 (PTI) Shriram Life Insurance partnered with ESAF Small Finance Bank to expand the reach of its life insurance products to underserved communities across India, a top official said. Under the tie-up, ESAF Small Finance Bank will act as a corporate agent, distributing Shriram Life's insurance offerings through its extensive branch network. The partnership aims to reach first-time insurance buyers, low-income families, and rural households, Shriram Life Insurance said in a press release on Tuesday. As of June 30, 2025, ESAF operates 788 branches and 1,095 customer service centres across 24 states and two union territories, serving over 5.6 million customers. Shriram Life Insurance MD and CEO Casparus J H Kromhout said, 'Our mission has always been to serve the underserved by making insurance simple, affordable, and accessible. We believe protection shouldn't be a privilege, but a basic financial right for every Indian household, regardless of where they live or what they earn. That's what makes this partnership so meaningful." 'With ESAF's strong local presence and our shared commitment, we can move closer to the goal of 'Insurance for All'," he added. ESAF Small Finance Bank MD and CEO K Paul Thomas said, 'This partnership strengthens our mission of serving the underserved by providing essential insurance solutions that promote financial security and resilience. Together, we are committed to building a more inclusive and empowered future for our communities". PTI VIJ SSK VIJ SSK ADB First Published: July 22, 2025, 19:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

Raja Raghuvanshi murder: Meghalaya cops question acquaintances of Sonam, her lover
Raja Raghuvanshi murder: Meghalaya cops question acquaintances of Sonam, her lover

Time of India

time19-06-2025

  • Time of India

Raja Raghuvanshi murder: Meghalaya cops question acquaintances of Sonam, her lover

Indore, A Meghalaya police team probing the murder of Indore businessman Raja Raghuvanshi on Thursday questioned a few acquaintances of main accused Sonam Raghuvanshi and her alleged lover Raj Kushwaha . They also questioned a taxi driver who is suspected to have taken Sonam to Uttar Pradesh from Indore in the aftermath of the murder. Raja Raghuvanshi, who married Sonam on May 11, went missing on May 23 during their honeymoon in Meghalaya. His mutilated body was found in a deep gorge near a waterfall in Sohra area (also known as Cherrapunji) of East Khasi Hills district on June 2. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 23.7% Returns in last 5 years with Shriram Life's ULIP Shriram Life Insurance Undo According to police, Sonam was having an affair with Kushwaha who worked in her family's business of Sunmica sheets. Her brother Govind Raghuvanshi was seen on Thursday outside the office of the Crime Prevention Branch of the local police where the special investigation team of Meghalaya Police carried out questioning. Live Events He was called to the office but was not questioned, he told reporters. Police recorded the statements of some people working in his family's business and a few associates of Kushwaha, Govind said. The SIT also recorded the statement of a taxi driver who allegedly took Sonam from Indore to Uttar Pradesh. According to police, after her husband's murder, Sonam returned to Indore and hid in a rented flat for a few days. She surrendered before police in Ghazipur district of Uttar Pradesh on June 8. Police have so far arrested Sonam, Raj Kushwaha and Kushwaha's friends Vishal Chauhan, Akash Rajput and Anand Kurmi in the case.

Air India flight AIC129 to London makes mid-air U-turn, returning to Mumbai
Air India flight AIC129 to London makes mid-air U-turn, returning to Mumbai

Time of India

time13-06-2025

  • Business
  • Time of India

Air India flight AIC129 to London makes mid-air U-turn, returning to Mumbai

Air India flight AIC129 , which departed from Mumbai for London early Friday morning, is returning to Mumbai, according to data from flight tracking service Flightradar24. The flight, operated by Air India, had taken off as per schedule but later initiated a return to its origin. The exact reason for the turnaround has not yet been disclosed by the airline or aviation authorities. There is no immediate information on whether the return was precautionary or due to any technical or operational reasons. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 23.7% Returns in last 5 years with Shriram Life's ULIP Shriram Life Insurance Undo This comes at a time when aviation authorities are already dealing with the recent Air India crash in Ahmedabad. Moreover, tensions rising in the Middle East on wee hours of Friday, has prompted airspace closures in various regions. More details on the incident are awaited. Live Events — PTI_News (@PTI_News)

Deferred annuity plans: Lock in steady retirement income with guarantee
Deferred annuity plans: Lock in steady retirement income with guarantee

Business Standard

time11-06-2025

  • Business
  • Business Standard

Deferred annuity plans: Lock in steady retirement income with guarantee

Grant Thornton's recently published report titled India's pension landscape: A study on retirement reality and readiness highlights low engagement with annuity plans. It says 76 per cent of respondents had not invested in these plans, despite the role they can play in providing stable post-retirement income. How do they work? In a deferred annuity plan, the customer pays premiums, either once or over several years. This money is invested and grows over time. 'Once a person retires, the corpus turns into a source of income as the person receives payouts. A deferred annuity plan allows a person to get a steady income stream during retirement,' says Casparus J H Kromhout, managing director and chief executive officer (CEO), Shriram Life Insurance. A deferred annuity scheme has an accumulation stage and a payout stage. It is different from an immediate annuity scheme. 'In the latter, the policyholder pays the insurer a lump sum. The company starts paying the policyholder right away, usually within a month or a year,' says Kromhout. A deferred annuity can be either guaranteed-return or market-linked. Lock in returns As a country develops, its interest rates witness a secular decline. 'In a reducing interest rate scenario, a deferred annuity plan locks in the annuity rate in advance, mitigating interest rate changes,' says Maneesh Mishra, chief product and marketing officer, Bandhan Life. Guaranteed return plans provide predictability. 'They can offer investors a fixed return of around 6–7 per cent per annum. The annuity rates are locked in at the time of investment and are not affected by market movements,' says Vivek Jain, chief business officer of life insurance, Policybazaar. For market participation, individuals may opt for unit-linked insurance plan (Ulip)-based deferred annuity plans. 'They offer market-linked growth. At vesting — typically at age 60 — the investor can withdraw up to 60 per cent of the corpus tax-free. The remaining 40 per cent (or more) must be used to purchase an annuity. Alternatively, the entire corpus can be annuitised,' says Jain. A deferred annuity allows the corpus to grow tax-free. 'You only pay taxes when you take the money out. Such a plan helps build a savings habit. Fixed and indexed deferred annuities can protect your principal,' says Kromhout. Payouts impacted by inflation Guaranteed return plans make fixed payouts. 'Do not forget the impact of inflation on retirement expenses. A fixed annuity payout might not keep up with it,' says Abhishek Kumar, Sebi-registered investment adviser and founder, Some of these plans come with high fees. These plans also lack liquidity. 'They levy hefty surrender charges, which can significantly reduce the amount you get back,' says Kumar. For instance, in a policy surrendered within the first seven years, the policyholder may only get around 50 per cent back as surrender value. One would also have to pay tax on the entire surrender value, as it is considered taxable income during the year. Consider risk appetite, return Start by assessing your risk tolerance. 'Based on it, decide whether you want a fixed, indexed or variable annuity scheme,' says Kromhout. Consider the return the plan offers. It should match your retirement needs. Choose between a fixed payout for a set period (five, 10 or 20 years) and a lifetime payout. A fixed payout option usually pays more, but the buyer risks outliving the payouts. Married persons should consider including their spouse in the plan to ensure that payments continue for the latter's lifetime. Check the policy document for charges like surrender charges, annual fees and other costs. Should you buy? Guaranteed deferred annuity plans are suitable for risk-averse investors. 'People aged between 45 and 55, who want a steady income during retirement, should go for these plans,' says Kumar. Mishra adds that one may use deferred annuity to cover at least 60 per cent of expenses in retirement. Kumar says these plans work well for those who have other savings and are unlikely to need early withdrawals. Those who may need liquidity should avoid these plans. 'People who do not have a health cover in their retirement years should also avoid them, as they could end up blocking a large portion of their corpus in annuities and might face liquidity problems during a health emergency,' says Kumar. Finally, compare annuity plans from different insurers, focusing on their payouts and fees.

Mercury's Speedy Transit Through Taurus (May 23 – June 6, 2025): What This Fast Transit Means for Your Zodiac Sign
Mercury's Speedy Transit Through Taurus (May 23 – June 6, 2025): What This Fast Transit Means for Your Zodiac Sign

Time of India

time22-05-2025

  • Business
  • Time of India

Mercury's Speedy Transit Through Taurus (May 23 – June 6, 2025): What This Fast Transit Means for Your Zodiac Sign

Mercury moves quickly through Taurus from May 23 to June 6, 2025. This is an unusual event. Mercury usually stays in each sign for a longer duration, but its brief trip through this grounded earth sign provides a unique mix of urgency and solidity. Even though it's short, this time brings big changes to how we think, talk, and prepare. Mercury in Taurus: A Shift Toward Practical Thinking Mercury controls how we talk to each other, think, and make choices. When it goes into Taurus, an earth sign controlled by Venus, it changes to a slower, more methodical energy. People's thoughts become more practical, their discourse becomes more intelligent, and everyone is focused on stability, comfort, and long-term security. Instead of rushing through ideas, this transit tells us to take our time with information and only say something when we have something important to say. People might choose their words more carefully, but they might also be more honest and grounded. It's an excellent time to make plans for your money, take care of business, and talk about things that are based on logic and ideals. It can make your mind inflexible or resistant to new ideas, but it's great at making things clear and structured when they need it. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pay 6K/Month, Earn 21L+*returns! Shriram Life Insurance Apply Now Undo The Swift Transit of Mercury in Taurus in May 2025 Mercury will go through Taurus from May 23 to June 6, 2025, and it will be more faster than normal. It will only last for less than two weeks, which is a remarkable rush of cosmic speed through one of the zodiac's most stable signs. This fast movement shortens and intensifies Mercury's usually calm and steady Taurus influence, pushing us to immediately ground our thoughts, make practical choices, and cement our plans without overthinking. Even if the pace may seem fast, the energy is still based on Taurus's ideals of stability, clarity, and clear communication. This makes it a great time to take action that will have long-term effects. Mercury in Taurus 2025: What Your Zodiac Sign Says Aries During this transit, Aries focuses on their money, possessions, and sense of self-worth. It's a great opportunity to think about how you spend your money, make a better budget, and figure out what really counts. Aries should take their time with decisions and consider more practically about their long-term safety. Taurus Mercury traveling through Taurus's sign helps them express themselves more clearly. This is a time when Taureans feel more empowered and able to share their thoughts clearly and confidently. It's a great time to establish plans, work out deals, or speak up for what you want. Gemini Mercury's transit through the twelfth house makes Geminis think about themselves. This is a good time to look inside yourself, write in a journal, meditate, or think on things that have happened in the past. When Mercury moves into Gemini next, it's an excellent time to clear your mind and be ready for a new beginning. Cancer Cancers are drawn to friendships, social dynamics, and long-term ambitions. Talking to friends and people in the community becomes increasingly important. It's a fantastic time to get in touch with people who share your ideals and work together to reach your goals. Leo Mercury in Taurus makes Leos think on their careers, public image, and leadership. This is a great time to talk about your career goals, make suggestions, or make your plans for the future more firm. Talking to your boss in a thoughtful way could bring up new opportunities. Virgo This transit helps Virgo by opening up their thinking. It's a good time to study, learn about spirituality, or travel. Mercury in Taurus helps Virgo make their beliefs more real and employ intellectual or educational advancement in effective, practical ways. Libra Libras might have to talk about their feelings more deeply or about money they share with others. Talking about things that are important to you can help or hurt intimate relationships. Now is an excellent moment to be honest and deal with debts or emotional baggage in a calm way. Scorpio Scorpios are likely to have better communication in both their personal and professional relationships. Now is the time to clear up any misunderstandings, set relationship goals, and work through emotional differences with patience and common sense. Sagittarius Sagittarius will feel the need to change their daily routines, improve their health habits, and get more done. It's a good time to make plans, start new routines, and pay attention to the little things that keep life going smoothly. Capricorn Mercury in Taurus brings out Capricorn's inventiveness, love life, and ability to express themselves. This is a great moment to showcase your art, show someone you care, or do something fun. Talking to kids or lovers may feel more real and grounded. Aquarius Mercury will have an effect on Aquarians at home. Talking to family becomes quite important, and you might want to talk about where you will live in the long term or your household duties. This is an excellent moment to build emotional stability and make your surroundings safe. Pisces Mercury will help Pisces talk to others better, which will make them feel better mentally. This transit makes it easier to focus and get more involved in everyday tasks, whether you are writing, teaching, or learning. It's also a good time to go on short travels and have deep talks. Written By: Sidhharrth S Kumaar, Registered Pharmacist, Astro Numerologist, Life & Relationship Coach, Vaastu Expert, IKS Expert, I Ching Expert, Energy Healer, Music Therapist, and Founder, NumroVani..!! Discover everything about astrology at the Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces .

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