{"id":87315,"date":"2023-02-01T18:50:00","date_gmt":"2023-02-01T13:20:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=87315"},"modified":"2023-02-01T18:42:55","modified_gmt":"2023-02-01T13:12:55","slug":"insurance-stocks-lose-up-to-10-after-budget-check-out-why","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/insurance-stocks-lose-up-to-10-after-budget-check-out-why\/","title":{"rendered":"Insurance stocks lose up to 10% after budget, check out why?"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-220820528\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Insurance stocks nose-dived after the budget session on Wednesday on the back of demand concerns. The shares of HDFC Life Insurance closed 10.79% lower on the bourses. Similarly, the shares of SBI Life Insurance Co. dropped by 8.61% to close at Rs 1,114.50.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1772478622\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The stock of the nation\u2019s largest life insurer Life Insurance Corp. of India also ended in red, losing 8% value for its investors. Max Financial Services and PB Fintech closed down 10.07% and down 6.64% respectively.<\/p><p>The Dalal Street reacted to the FM\u2019s speech bringing down the prices of the insurance stocks as investors exited their holdings. She highlighted two points concerning the insurance sector.<\/p><p>In her budget speech, Sitharaman stated that income or maturity proceeds from all life insurance policies (except unit-linked insurance plans or ULIPs) with annual premiums of over Rs 5 lakh will be taxable from now on. This makes high-value insurance policies lesser appealing to customers.<\/p><div class=\"trade-content_5\" id=\"trade-2983437140\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Furthermore, the budget stated that the new regime will become the default one with rebates making income up to Rs 7 lakh tax-free. This push for the new tax regime decreases the lustre of insurance policies as tax-saving mechanisms.<\/p><p>Nidhi Manchanda, a Certified Financial Planner, \u201cOne should note that if an individual has more than one life insurance policy, which is issued on or after the 1st of April 2023 and also if the aggregate amount of premium of such policies exceeds Rs 5 lakh, then the maturity amount will be taxable.&#8221;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Vikalp Mishra<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3346226920\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Insurance stocks nose-dived after the budget session on Wednesday on the back of demand concerns. The shares of HDFC Life Insurance closed 10.79% lower on the bourses. Similarly, the shares of SBI Life Insurance Co. dropped by 8.61% to close at Rs 1,114.50.&nbsp; The stock of the nation\u2019s largest life insurer Life Insurance Corp. of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[5401,5773,2579,5549,5464,5801,5802,948,936,3153,3157,2597,2577,5776,5778,5777],"class_list":["post-87315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-budget-2023","tag-budget-2023-stocks","tag-budget-wishlist","tag-insurance-stocks","tag-insurance-stocks-2023","tag-insurance-stocks-fall","tag-insurance-stocks-fall-10-on-budget-day","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stocks-to-watch","tag-union-budget","tag-union-budget-2023","tag-union-budget-2023-news","tag-union-budget-2023-update"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insurance stocks lose up to 10% after budget, check out why? - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Insurance stocks nose-dived after the budget session on Wednesday on the back of demand concerns. 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