News


Good news for Jet Privilege members! Airline offers life, health insurance without medical checkup

15

Mar 2019

Good news for Jet Privilege members! Airline offers life, health insurance without medical checkup

The airline claims that the process is completely hassle-free as the application process will be completed online and there is no requirement of any paperwork. The members may avail a life insurance cover up to Rs 75 lakh and a health insurance cover up to Rs 15 lakh without any pre-policy medical checkup. Down with poor financial health, Jet Airways is now offering its Jet...

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Travel insurance online: Make sure you pack this in as you head to participate in colourful events around the world

13

Mar 2019

Travel insurance online: Make sure you pack this in as you head to participate in colourful events around the world

Travel-related risks are increasing year-on-year, making it most important for the travellers to take the necessary precautions and protect themselves with adequate travel insurance when going abroad. All these insurance plans provide adequate cover against events such as terror attacks, natural disasters and medical crises. While on a holiday, you can always choose to relax by the sun-kissed beaches, try some thrilling adventure, spot exotic...

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Auto insurance: How to claim car insurance in case your car catches fire

12

Mar 2019

Auto insurance: How to claim car insurance in case your car catches fire

Accidents are accidental in nature and there have been several incidences of cars catching fire while parked or even while plying on the roads. What if the documents related to your car such as registration papers and insurance policy gets damaged or burnt? The Aero Show 2019 in Bengaluru witnessed an unfortunate fire incident where several cars were damaged by the raging fire. The only...

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For speedy settlement of insurance claims, Irdai panel suggests modifications in norms for surveyors, loss assessors

12

Mar 2019

For speedy settlement of insurance claims, Irdai panel suggests modifications in norms for surveyors, loss assessors

The Insurance Regulatory and Development Authority of India had set up a Working Group to examine and deliberate upon the existing framework for surveyors and loss assessors and make its recommendations in the context of evolving challenges and opportunities in the area. The Working Group has suggested that the requirement of practical training may be done away with as it does not seem to serve...

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Why women in India need to buy health insurance

08

Mar 2019

Why women in India need to buy health insurance

It would be ideal to get a health plan that offers a cover of at least Rs 5 lakh. You can take a top-up plan also if required. By Bhaskar Nerurkar Women in India are making strides in every sphere. From handling their jobs, to managing homes, women are mantaining a fine balance through highly stressfull situations. Various trends show that lifestyle changes do cost...

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Car Insurance: How to protect your vehicle from monetary depreciation

07

Mar 2019

Car Insurance: How to protect your vehicle from monetary depreciation

While a regular car insurance policy is instrumental in safeguarding your car against possible threats, the add-ons make the policy much more comprehensive. Failing to enhance your car insurance cover with necessary add-ons can prove to be troublesome at times. Purchasing a new car is one of the most important investments in an individual’s life. So, it becomes important to protect your car with a...

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Tax saving: Does GST on insurance premium qualify for tax benefit u/s 80C, 80D?

07

Mar 2019

Tax saving: Does GST on insurance premium qualify for tax benefit u/s 80C, 80D?

Sometimes, the insurance premium receipt does not show the GST amount separately or the employer disallows the GST amount for the tax benefit. The insurance premium paid also includes the GST amount and at times some employers do not accept the full amount and provide tax benefit only for the premium amount excluding the taxes. The tax saving season has entered its last month for...

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Now, insurers can’t ignore insurance ombudsman decision on your policy grievance; Regulator pulls up companies

06

Mar 2019

Now, insurers can’t ignore insurance ombudsman decision on your policy grievance; Regulator pulls up companies

IRDAI strongly feels that non-compliance within the prescribed timeline would severely undermine the grievance redressal framework. On studying the data from all Insurers for the period April, 2018 to December, 2018, IRDAI observed several no-compliance by the insurers. As an insurance policyholder, one is supposed to take up any grievance initially with the company concerned and then subsequently raise the concern with the Insurance Ombudsman....

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Love your dog, birds, other pets? Go for pet insurance

05

Mar 2019

Love your dog, birds, other pets? Go for pet insurance

Pet insurance, like any other insurance, is a risk-mitigating product that covers unexpected expenses related to pets. In India, pet insurance is available for dogs, cats, birds, sheep, goats, horses, rabbits, elephants etc. Pets are members of your family. And just like everyone else in your family, they have healthcare needs too. And to cater to this rather new-age need, some insurance companies have started...

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Health insurance: Call for plain vanilla product to attract youngsters

26

Feb 2019

Health insurance: Call for plain vanilla product to attract youngsters

The standard product, which will have to be offered by all general and health insurers, will incentivise young policyholders Standard products cannot be combined with critical illness covers or benefit based covers. In order to make health insurance policies simple, the insurance regulator has issued draft norms for standard health insurance products. The standard product will have the basic mandatory covers and will be uniform...

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4 little known benefits that come attached with travel insurance

26

Feb 2019

4 little known benefits that come attached with travel insurance

Travel insurance companies are now offering policies that are packed with a wide array of benefits to ensure a peaceful and memorable holiday for travellers. Purchasing a comprehensive travel insurance policy that offers emergency cash overseas is one of the smartest decisions to make as a traveller. While some of us prefer planning our vacations well in advance, others are quite spontaneous and love the...

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Investment deadline approaching: Do not buy life insurance just to save income tax

25

Feb 2019

Investment deadline approaching: Do not buy life insurance just to save income tax

Tax exemptions are only incentives given to encourage people to buy life insurance in the absence of a comprehensive social security system Policyholders cannot get away with the deductions from taxable income if they terminate a policy immediately in the next few years for which deductions have already been claimed. (Reuters) Saving income tax cannot be the sole motivation for buying a life insurance policy...

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Protection not a priority? Only two out of 10 Indians have term insurance

25

Feb 2019

Protection not a priority? Only two out of 10 Indians have term insurance

A survey reveals that women are grossly under-protected as only one-third save for future stability. The savings pattern of working women in metros are more focused on children’s education and less on old age security. Most Indians are grossly under-insured to face any financial instability. Only two out of 10 people have a term insurance policy, of which more than half do not have any...

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End of confusion! New guidelines from IRDAI standardise health insurance ‘mediclaim’ product; 4 things you must know

23

Feb 2019

End of confusion! New guidelines from IRDAI standardise health insurance ‘mediclaim’ product; 4 things you must know

A Standard Health Plan will help consumers better understand the product and make it easier for them to compare the product with other insurers. As per the draft issued on the IRDAI website, the Standard Health Product will cover both pre and post hospitalisation expenses. As an ode to the common man, the Insurance Regulatory and Development Authority of India (IRDAI) on Tuesday issued draft...

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Getting a motor insurance? Here are riders you should know about

23

Feb 2019

Getting a motor insurance? Here are riders you should know about

Motor insurance policies can be distinguished on the idea of features such as liability coverage, collision coverage, medical payment coverage and personal injury coverage. Opt for add-on covers in motor insurance (Illustration: Shyam Kumar Prasad) By Mahesh Shetkar Motor insurance policies are classified into two types: basic/ third-party car insurance policy and comprehensive policy. A third-party insurance policy solely covers damages to others in case...

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How to choose between Disease-Specific and Critical Illness insurance plans

22

Feb 2019

How to choose between Disease-Specific and Critical Illness insurance plans

Considering the given scenario, Disease-Specific (DS) and Critical Illness (CI) insurance plans seem to be some of the best available options. A disease-specific plan provides cover for the cost of entire treatment of a specific disease at all stages including diagnosis stage to advanced treatment. It’s never easy to pick the right health insurance plan especially with insurance companies offering a plethora of options to...

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Good news for health insurance buyers! IRDAI issues draft guidelines for a Standard Health Product

21

Feb 2019

Good news for health insurance buyers! IRDAI issues draft guidelines for a Standard Health Product

IRDAI has issued draft guidelines that will make available a Standard Health Product across the industry and it will be mandatory for all insurers to offer such a product. The draft guidelines proposes that Add-on or Optional Covers are not allowed to be attached to the base cover in Standard Health Product. Buying a health insurance policy is often recommended to be the first step...

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7 reasons why home insurance should be your top priority!

20

Feb 2019

7 reasons why home insurance should be your top priority!

Here are a few reasons as to why home insurance is a must-have thing and how it can help one to avoid a huge financial setback in the event of any mishap. When you buy home insurance online or offline, make sure you opt for the policy offering the best cover. A home is not merely a structure made of cement and bricks, it is...

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Stop, not just low premium! Take buying car insurance policy seriously; 4 critical factors

19

Feb 2019

Stop, not just low premium! Take buying car insurance policy seriously; 4 critical factors

With a little knowledge and understanding of car insurance, you can best optimize your insurance purchase and enjoy great benefits in the future. While zeroing in on car insurance, low insurance premium often remains the sole deciding factor. There is no denying the fact that in India, most car owners buy car insurance as a mere formality, without giving it a required thought. Moreover, a...

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Health Insurance: 5 things to look at while choosing the right policy

16

Feb 2019

Health Insurance: 5 things to look at while choosing the right policy

There are many health insurance policies available in the market. Here are a few things you should consider while choosing the right policy for you. It’s important to ascertain the size of the health insurance cover you need basis the city you reside in, the ailments you may be prone to and your family history. Rising healthcare costs have made it essential to include a...

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