As a parent, one’s most important goal would be to make sure that one’s children have a bright future and lead their lives comfortably. One of the most joyous moments in the lives of any couple is becoming parents. It is said that the arrival of a child gives birth to a mother and father. This parenthood brings a shift in their life stage with...
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On a cumulative basis, the premium of all non-life insurance companies rose 9.91 per cent to Rs 41,063.61 crore during April-June period of 2019-20. These 25 companies had collected Rs 11,571.16 crore in June 2018 as premium income. (Representational image) The gross premium earned by non-life insurance companies fell marginally to Rs 12,936.97 crore in June, according to data from Irdai. The non-life insurers had a...
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It is important to understand the kind of policies available and choosing the right health insurance coverage as per your health conditions and family type. A majority of people are unaware of the benefits of health insurance products available in the market. Healthcare problems come unannounced, leading to unaccounted expenses derailing your financial planning. Medical inflation rates are increasing exponentially owing to the advancement of...
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There could be a financial strain on one’s budget or one may even have to dip into one’s investment in order to meet the expenses incurred during monsoon showers. To cover the risks arising out of monsoon, one needs to be adequately protected at all fronts such as health, motor, home and from accidents. After the hot summer days, the onset of the rainy season...
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RSA or Roadside Assistance is an add-on that you can take while buying a motor insurance policy or renewing it. A handy roadside assistance number that came with your car insurance can prove to be very convenient. Imagine this – You’re on a road trip. You race your car on a long, smooth road. Just as you feel everything is perfect, your car gets a flat...
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Policyholders will have the option to renew the own damage component of a bundled cover on or after September 1, with the same insurer or different insurer, on an annual basis. Policyholders will have the option to renew the own damage component of a bundled cover on or after September 1, with the same insurer or different insurer, on an annual basis. Vehicle-owners can now...
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Home loan insurance can be beneficial both for the lender and the borrower. However, it’s critical to make an informed decision factoring in your financial requirements. Mortgage insurance and term insurance may seem similar in terms of cost, add-ons etc, however, they do differ in various other ways. Buying a home, a place of your own, is a dream most of us strive to fulfil....
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Your biggest weapon against rising healthcare costs is the various insurance plans created to cover them The ever-rising cost of healthcare is a huge concern for all. This is more worrying for retired employees as their age brings many health-related issues that need regular care. Proper health insurance plans can surely help you with your treatment. Here are six ways you can manage the cost...
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What the new guidelines implemented by IRDAI pertaining to motor insurance actually means and how should a policyholder take cues before buying insurance. In the recent past, there have been several changes in the motor insurance space. Over the past 12 months or so, there has been the introduction of several new rules and guidelines and subsequent modifications in the motor insurance space. The end-user...
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Before making any critical changes in your car like upgrading the breaks and suspension of your car to improvise the car performance, it is important that you inform the insurer. Also, while making modifications to the car’s interior like steering, pedals and sound system, you need to inform the insurer. If you have a never-ending love for cars and spend significant time modifying your four-wheeler...
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Health insurance is not mandatory but it is gaining a lot of popularity thanks to rising medical costs. In case your hospital is not a part of your insurance company’s cashless hospital network, you will have to opt for reimbursement claims. Pollution, sedentary lifestyle, and lack of nutritious meals has made the urban population vulnerable to diseases. From visiting a doctor for a routine check-up...
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Budget 2019-20: In the next 10 years we would spend $372 billion for our healthcare according to an IBEF report published recently. Union Budget 2019 India: At present, GST charges on health insurance premium is 18%, which often makes health insurance unaffordable. By Ravi Vishwanath Budget 2019 India: In India, during the last decade health related expenses have pushed about 55 million people below the...
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With the rise in lifestyle-related issues, it becomes extremely challenging for the human body to maintain optimal health as it ages. This is where health insurance for senior citizens becomes crucial. The sooner you buy health insurance for senior citizens the better it is in terms of the coverage and insurance premium. It is said that age is just a number. This thought is productive...
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Insurance company will provide Rs 10 lakh cover during the scheduled journey for a premium of just Rs 0.49 per passenger, but it may benefit even if your scheduled journey is cancelled. While booking train tickets through the IRCTC website, you get the option to opt for travel insurance that covers you during the journey. While booking train tickets through the IRCTC website, you get...
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While the third-party insurance cover continues to be a mandatory cover, from September 1, 2019, car and bike policyholders will have 3 options to get their vehicles insured. New motor insurance rule from IRDAI gives car, bike owners more choice to buy a cover for their vehicles. Almost a year back, the Insurance Regulatory and Development Authority of India (IRDAI) had asked insurance companies to...
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Natural calamities like floods, lightning, landslide, cyclones, earthquakes, hurricanes, or a dust storm can cause damage to health, infrastructure, property, vehicles and also impact travel. Find out the common perils caused by such natural calamity and how health, home, motor, and travel insurance can help you safeguard against this. A significant dust storm covered India’s capital recently, halting flights and affecting visibility. Natural calamities like...
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As the monsoon season is coming, rather than doing your own prediction on whether or not the IMD will get its prediction right on rains across the country, invest in motor insurance and secure your vehicle. A motor insurance policy has two basic components, namely ? Own Damage (OD) cover and Third-party Liability (TP) cover. As the monsoon season is coming, rather than doing your...
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It is important for us to re-evaluate our health insurance on a regular basis just to make sure that we and our family members are adequately covered. The fact is that a majority of people these days do not bother about re-evaluating their health insurance cover after regular intervals of time. Each one of us time and again make sure to revamp the things that...
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IRDAI has finally decided to revise the premium rates for Motor Third Party insurance for the current financial year, i.e. 2019-20. IRDAI has been notifying the premium rates for Motor Third Party (TP) Liability Insurance, every year, starting from 2011. The Insurance Regulatory and Development Authority of India (IRDAI) has finally decided to revise the premium rates for Motor Third Party insurance for the current...
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The new rates come into effect from June 16. However, premium for long-term cover remains unchanged In the draft exposure, the regulator had also proposed a 15% discount on the premiums for electric vehicles. From June 16, the premium for mandatory third-party liability insurance for private cars up to 1000 cc will increase by 12% from Rs 1,850 to Rs 2,072, and for those above...
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