Latest news with #SavingsPlan
Yahoo
29-07-2025
- Business
- Yahoo
Canara HSBC Life Insurance Launches SecureInvest- A Unit-linked Plan Offering Life Cover up to 100x of Annualised Premium
SecureInvest Rewards Long-Term Commitment with Loyalty Additions and Maturity BoostersTailored for Every Life Stage: Choose Between SecureInvest Choice Option and SecureInvest Forever Option NEW DELHI, July 29, 2025 /PRNewswire/ -- Canara HSBC Life Insurance Company Limited ('Canara HSBC Life Insurance'), today announced the launch of its latest product 'SecureInvest,' (UIN: 136L092V01) a non-participating, Unit Linked Individual Life Insurance Savings Plan designed to align with the evolving financial goals and life stages of policyholders. SecureInvest combines high life cover offering up to 100 times of the Annualized Premium with the potential for market-linked growth. Speaking on the launch, Mr. Rishi Mathur, Chief Distribution Officer- Alternate Channels and Chief Marketing Officer, Canara HSBC Life Insurance said, "At Canara HSBC Life Insurance, we understand that life is full of promises, to grow, to protect, and to leave a legacy. To ensure these promises are met, we have crafted this plan tailored to every stage of the policyholder's life. SecureInvest reflects our continued focus on creating meaningful solutions for our customers. This plan blends substantial life cover, investment growth, and long-term value creation- all in one offering designed to evolve with the customer's financial journey." This plan is packed with consumer-friendly features. Policyholders are rewarded for their long-term commitment with Loyalty Additions starting at the end of the 10th policy year and recurring every 5th year thereafter, along with Maturity Boosters at the end of the policy term. Policyholders may also benefit from tax advantages on premiums paid and benefits received, as per prevailing tax laws. SecureInvest comes with two plan options, catering to different life goals: SecureInvest Choice– Offers life cover during the policy term, plus the accumulated fund value on maturity. SecureInvest Forever – Extends protection up to age 85, making it ideal for those who wish to build a legacy for their loved ones. The plan also includes 12 fund choices, six portfolio management strategies, and features like partial withdrawals, premium redirection, and fund switching offering policyholders' greater control over their investments. About Canara HSBC Life Insurance: Incorporated in 2007, Canara HSBC Life Insurance Company Limited is promoted by Canara Bank and HSBC Insurance (Asia Pacific) Holdings Limited. Punjab National Bank is also a shareholder of the Company. As a bancassurance led insurance company with its corporate office at Gurugram, Haryana and more than 100 branch offices as of the date of the DRHP (defined below), pan India, Canara HSBC Life brings together the trust and market knowledge of public and private banks. For more than 17 years now, the Company sells and services customers through multiple channels and well diversified network of Canara Bank and the Indian branch of the Hongkong and Shanghai Banking Corporation Limited in multiple cities across the country. The Company has a vast portfolio of life insurance solutions and offers various products across individual and group space comprising of life, health, term plans, retirement solutions, credit life and employee benefit segments through partner banks, digital, and direct field force. With an aim to provide simpler insurance and faster claim process, the Company intends to keep the promises of their customers alive with their 'Promises Ka Partner' philosophy. Canara HSBC Life Insurance Company Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares and has filed a draft red herring prospectus dated April 28, 2025 ("DRHP") with the Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the Company at the SEBI at the website of National Stock Exchange of India Limited at and the website of BSE Limited at and the respective websites of the Lead Managers at and Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which may be filed with the Registrar of Companies, Delhi and Haryana at New Delhi, in the future, including the section titled "Risk Factors". Potential investors should not rely on the DRHP filed with the SEBI, but should instead rely only on the RHP, in making any investment decision. The equity shares proposed to be offered in the initial public offering may not be offered or sold in the United States except pursuant to an exemption from, or in transactions not subject to, the registration requirements of the U.S. Securities Act of 1933, as amended. There will be no public offer of securities in the United States. Logo: View original content to download multimedia:
Yahoo
13-06-2025
- Business
- Yahoo
Sanford Heisler Sharp Mcknight Wins Final Approval of Record-Breaking $69 Million Settlement on Behalf of More Than 350,000 Retirement Plan Beneficiaries
MINNEAPOLIS, June 13, 2025 (GLOBE NEWSWIRE) -- Sanford Heisler Sharp McKnight, LLP, a national civil rights law firm, was granted final approval of a record-breaking $69 million settlement on behalf of more than 350,000 beneficiaries of the UnitedHealth Group 401(k) Savings Plan. The Honorable Judge John R. Tunheim of the U.S. District Court for the District of Minnesota ruled from the bench during a Fairness Hearing held today, approving the settlement amount and granting counsel's requested attorneys' fees and a service award of $50,000 for sole class representative Kim Snyder. Judge Tunheim informed the parties that a more detailed order would follow his ruling. Plaintiff Kim Snyder first filed this case in April 2021, alleging that UnitedHealth Group had breached its fiduciary duties to participants in its 401(k) Savings Plan and mismanaged participants' retirement funds in violation of the Employee Retirement Income Security Act of 1974 ('ERISA'). Specifically, the complaint alleged that UnitedHealth Group failed to remove from its employee retirement plan a family of target retirement date funds managed by Wells Fargo that have underperformed their investment benchmarks and other similar target date funds significantly for over a decade. Sanford Heisler Sharp McKnight was appointed Class Counsel in February 2022. After more than four years of litigation, Sanford Heisler Sharp McKnight reached an impressive $69 million settlement on behalf of Plan participants – the largest-ever single-plan ERISA settlement alleging breach of fiduciary duty for failure to remove underperforming investment options. The record previously belonged to In re G.E. ERISA Litig., Case No. 1:17-CV-12123-IT (D. Mass. Mar. 8, 2024), another case brought by Sanford Heisler Sharp McKnight that resulted in a $61 million settlement for the Plan. 'The firm is honored to have worked for the benefit of the Class for more than four years and to have recovered this settlement for Plan participants,' said David Sanford, chairman of Sanford Heisler Sharp McKnight and counsel for Plaintiff and the Class. 'We will continue to bring cases like this on behalf of individuals planning for retirement.' 'ERISA's fiduciary standards are strict and exacting,' added Charles Field, a partner and Co-Chair of Sanford Heisler Sharp McKnight's Financial Mismanagement and ERISA Litigation Practice Group and counsel for Plaintiff and the Class. 'Today's decision underscores the fact that fiduciaries should be held to the highest standards in managing Plan participants' assets.' 'I am grateful for the role I was able to play in obtaining this result today,' said Leigh Anne St. Charles, a partner and Co-Chair of Sanford Heisler Sharp McKnight's Financial Mismanagement and ERISA Litigation Practice Group and counsel for Plaintiff and the Class, who spoke in support of the settlement at today's Fairness Hearing. 'Even more so, I am grateful for Kim Snyder being brave enough to step forward and represent the Plan and the Class for the last four years. People like her make it possible to right these wrongs.' The case is Kim Snyder v. UnitedHealth Group, et al., Case No. 0:21-CV-01049 (JRT/DJF), United States District Court for the District of Minnesota. Local Counsel is Susan M. Coler of Halunen Law. About Sanford Heisler Sharp McKnight, LLP Sanford Heisler Sharp McKnight, LLP is a national public interest class-action litigation law firm with offices in New York, Washington, D.C., San Francisco, Palo Alto, San Diego, and Nashville. Sanford Heisler Sharp McKnight focuses on employment discrimination, Title IX, wage and hour, whistleblower, criminal/sexual violence, and financial services matters. The firm has recovered over $1 billion for its clients through many verdicts and settlements. The National Law Journal recognized Sanford Heisler Sharp McKnight as 2021 Employment Rights Firm of the Year, 2021 Human Rights Firm of the Year, and 2022 Civil Rights Firm of the Year. For the latest news about Sanford Heisler Sharp McKnight, visit the firm's newsroom or follow the firm on Facebook, LinkedIn, or Twitter. If you have potential legal claims and are seeking counsel, please call 619-577-4253 or email Attorneys at Sanford Heisler Sharp McKnight would like to have the opportunity to help you. If you experienced sexual abuse and are seeking counsel, please call 202-221-3152 or email cdunn@ Attorneys at Sanford Heisler Sharp McKnight would like to have the opportunity to help you. For more information, contact Jamie Moss, newsPRos, at 201-788-0142 or Jamie@ in to access your portfolio
Time of India
10-06-2025
- Business
- Time of India
Trump's ‘Baby Investment Accounts': What you need to know
Live Events FAQs: Trump's Savings Plan for Newborns (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel A new proposal backed by US President Donald Trump would create $1,000 investment accounts for every American baby born between Jan. 1, 2025, and Dec. 31, 2028. Known unofficially as "Trump Accounts" or 'MAGA Accounts,' the program is part of a broader tax-cut package that recently passed the House and is now pending in the eligible newborn would receive a one-time $1,000 contribution from the federal government, invested in a stock market-linked mutual or index fund. Additional contributions of up to $5,000 annually could be made by parents, religious institutions, or private donors. Funds would become partially accessible at age 18 for education, job training, or buying a first home, with full access at age 30. Dell Technologies has already pledged to match the government's $1,000 contribution for newborns of its employees, should the proposal become law. Other business leaders — including CEOs from Uber, Goldman Sachs, and Robinhood — attended a recent 'Invest America' roundtable at the White House to discuss the the White House issued a press release claiming support from the industry leaders including Goldman Sachs CEO David Solomon, Uber CEO Dara Khosrowshahi, and Altimeter Capital CEO Brad Gerstner."Together with historic tax cuts, an increased child tax credit, higher wages, and monumental economic growth, the One Big Beautiful Bill will change the lives of middle-class families across America," the release despite high-profile support, the proposal faces opposition in the Senate, particularly from fiscal conservatives who are pushing for revisions. Critics argue the program lacks the tax advantages of existing savings options like 529 plans and may not offer the strongest long-term a proposed federal initiative that would provide every U.S.-born child between Jan. 1, 2025, and Dec. 31, 2028, with a $1,000 government-funded investment account, tied to the performance of the U.S. stock accounts are part of the "Invest America" plan and have been informally referred to as 'Trump Accounts' or 'MAGA Accounts' (Money Accounts for Growth and Advancement).Each eligible newborn would receive a one-time $1,000 contribution from the U.S. government, deposited into a mutual or index Parents, religious institutions, and private organizations can contribute up to $5,000 per year into the account during the child's become partially accessible at age 18 for specific uses like education, vocational training, or a first home purchase. The full balance becomes available at age accounts are tax-deferred, meaning investments grow tax-free until withdrawal — similar to 529 college savings plans, but with a lower annual contribution child's legal guardians would manage the account until the child becomes eligible to access the While the provision passed the House as part of a broader tax package, it's still under review in the Senate and faces opposition from some fiscally conservative Technologies has pledged to match the $1,000 for newborns of its employees if the plan passes. Executives from Goldman Sachs, Uber, Robinhood, and others have shown interest by attending White House discussions.529 plans typically allow higher contributions and are geared specifically toward education. Trump accounts are broader in usage and provide an initial government-funded seed investment.
Zawya
21-04-2025
- Business
- Zawya
Oman: Dhofar Islamic leads the Islamic banking sector through 25 branches
Muscat – The Islamic banking sector in Oman has seen a transformative journey since its inception over a decade ago. Today, it plays a pivotal role in driving economic growth, financing critical projects, and aligning with Oman Vision 2040. Amor Said Mohamed al Amri, DGM & Head of Retail Banking Dhofar Islamic, highlighted the sector's robust growth. 'Over the last ten years, Islamic banking in Oman has matured significantly, gaining a growing share of the market. This progress reflects the expertise, visionary leadership, and ability to innovate while meeting the needs of society and investors alike. Dhofar Islamic, formerly known as Maisarah Islamic Banking, has emerged as a key player in Oman's Islamic banking sector. Its recent rebranding signifies a renewed commitment to innovation and customer-centricity. The new Dhofar Islamic identity embodies a blend of heritage and modernity, symbolized by our logo's transition from a single star to a galaxy of capabilities, reflecting our core values of ethical banking, transparency, and excellence.' The bank has made significant strides in expanding its offerings, launching innovative products like the Savings Plan and MasterCard World Credit Card, and supporting the financing of major projects across sectors such as energy, real estate, and infrastructure. It has also established a 10-Year OMR 250 million Sukuk al Musharaka Program, enabling it to tap into Islamic capital markets. Supporting small and medium enterprises (SMEs) is a top priority for Dhofar Islamic. The bank provides financing, training, and consulting services to foster innovation and entrepreneurship. It has also significantly invested in digital banking, enhancing customer experiences through mobile applications and electronic payment systems. Dhofar Islamic's 25 branches network and its growing portfolio of Sharia-compliant products are testaments to its commitment to meeting the diverse needs of its customers. By continually innovating, embracing sustainability, and supporting national development, Dhofar Islamic is set to play an even greater role in shaping the future of Islamic banking in Oman. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
18-04-2025
- Business
- Muscat Daily
Dhofar Islamic leads Islamic banking sector of Oman
Muscat – The Islamic banking sector in Oman has seen a transformative journey since its inception over a decade ago. Today, it plays a pivotal role in driving economic growth, financing critical projects, and aligning with Oman Vision 2040. Amor Said Mohamed al Amri, DGM & Head of Retail Banking Dhofar Islamic, highlighted the sector's robust growth. 'Over the last ten years, Islamic banking in Oman has matured significantly, gaining a growing share of the market. This progress reflects the expertise, visionary leadership, and ability to innovate while meeting the needs of society and investors alike. Dhofar Islamic, formerly known as Maisarah Islamic Banking, has emerged as a key player in Oman's Islamic banking sector. Its recent rebranding signifies a renewed commitment to innovation and customer-centricity. The new Dhofar Islamic identity embodies a blend of heritage and modernity, symbolized by our logo's transition from a single star to a galaxy of capabilities, reflecting our core values of ethical banking, transparency, and excellence.' The bank has made significant strides in expanding its offerings, launching innovative products like the Savings Plan and MasterCard World Credit Card, and supporting the financing of major projects across sectors such as energy, real estate, and infrastructure. It has also established a 10-Year OMR 250 million Sukuk al Musharaka Program, enabling it to tap into Islamic capital markets. Supporting small and medium enterprises (SMEs) is a top priority for Dhofar Islamic. The bank provides financing, training, and consulting services to foster innovation and entrepreneurship. It has also significantly invested in digital banking, enhancing customer experiences through mobile applications and electronic payment systems. Dhofar Islamic's 25 branches network and its growing portfolio of Sharia-compliant products are testaments to its commitment to meeting the diverse needs of its customers. By continually innovating, embracing sustainability, and supporting national development, Dhofar Islamic is set to play an even greater role in shaping the future of Islamic banking in Oman.
