Proper planning may be done to save the amount of premium, which is a known figure, rather than facing the uncertainty of paying high and unknown amount at the time of hospitalisation, putting all the savings at risk. The cost of treatment and rate of inflation in the healthcare industry are very high, which makes health insurance a must for people. The cost of treatment...
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Many people are still clueless about the best health insurance policies they should consider for buying. Here are some of them. The need of having a health insurance policy varies from family to family and person to person, but a wide range of available health insurance policies help in getting the desired plan easily. We cannot really deny the importance of having health insurance in...
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The amazing amalgamation of technology advancements, Big Data Analytics and IOT is all set to transform the motor insurance industry, especially for the customers. With advancements in technology, increase in connectivity, and ways to collect and process more data, the operations of Indian motor insurance industry are getting transformed drastically. The Indian General Insurance (GI) industry is expanding at a significant pace, showing annual growth...
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Metro cities like Bengaluru, Delhi and Chennai have the highest rates of adoption of the in-trip insurance, closely followed by Mumbai and Hyderabad. In-trip insurance for rides booked on the Ola platform is uniquely priced starting Re 1. Ride-sharing platform Ola claims to have achieved a milestone of facilitating the issue of 2 crore in-trip micro-insurance policies to its customers every month under its flagship...
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Insurance is often understood as life, health or auto insurance. Here we are taking a look at some lesser-known insurance policies and what purposes they meet. Home insurance can help you financially secure your house and the content inside. Insurance is often understood as life, health or auto insurance. At a time when the country is busy shopping for insurance to reduce its tax outgo,...
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Sometimes, the insurance claim gets rejected, resulting in extreme financial distress to the insured or the dependent family members. Filing the insurance claim late can lead to a rejection. Insurance offers financial protection during an adverse situation. Health insurance provides financial protection including hospitalization expenses to the insured, while life insurance gives financial security to the dependent family members on the demise of the insured....
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The government has time and again enforced the need of having a valid insurance policy. On the implementation of these tips, you can save a good amount on your overall renewal premium. Your good driving skills resulting in a claim-free year makes you eligible for a No Claim Bonus from the insurer. We Indians love to save and do not mind going the extra mile...
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With more and more people frequently travelling abroad for holiday, business or education, travel insurance has become an absolute must. Not only does travel insurance get you feeling secure with your belongings, but it also adds bonus security while travelling to regions where the weather conditions too can vary like that in South East Asia. Recently, Mumbai resident Neha Sharma, a PR firm executive, was...
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Tax saving is incidental while the benefit of owning a health insurance policy is huge as it helps in meeting medical expenses during hospitalisation and thus protects one’s investments. Most financial planners suggest to buy a health cover for self and family members even before one starts to save. For the FY 2018-19, the tax saving season will end on March 31, 2019, which incidentally...
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TPAs are the intermediaries between the insurance companies and the policyholder in the claims settlement process of health insurance policies. Do you have the choice to choose between the TPA and the insurer’s in-house claims settlement team? Last week, the Insurance Regulatory and Development Authority of India (IRDAI) cancelled the certificate of registration of E-Meditek insurance TPA and further directed that the company will no...
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Travel insurance is one of the most important aspects while travelling that a majority of people tend to ignore until the last minute. Travel insurance should be the first immediate item of purchase after booking a trip rather than waiting until the last minute. Travelling has become a substantial part of our lives in the last one decade; be it for work, leisure or pursuing...
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If you are going opting for more benefits while porting, the premium of the new policy could be higher on account of added benefits. Also, watch out that you do not lose significant benefits in the new policy. After buying a health insurance policy, most policyholders often find many shortcomings in their policies. Did you know that you can switch your policy to a different...
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On receipt of a few complaints relating to general insurers settling lesser amounts than the IDV in case of total loss of motor vehicles, Irdai has raised its concern. At times, especially while renewing the policy, a car owner is tempted to increase the IDV even if there is a slight increase in the premium. When it comes to the settlement of claims, the car...
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A comprehensive home insurance policy covers the assets, belongings and contents in the house, whereas there are policies which cover only the house. In the event of any actual damage, a home insurance policy always comes to your rescue. Home is where your heart is! And just as you your heart needs care, so does your home. A home insurance cover helps to protect not...
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Health insurance is an important element of financial planning, as one big expenditure can set back your financial goals by a number of years. Health problems usually come uninformed and their consequences can be physical, emotional and financial as well. It is, therefore, important for everyone to get a health insurance plan. Adopting a healthy lifestyle and getting health insurance for yourself and your family...
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In the last few months, there have been streaks of new regulations announced by the regulator on the motor insurance side, which will eventually benefit the policyholders. The Insurance Regulatory and Development Authority of India (Irdai) recently unbundled the compulsory personal accident cover (CPA) and allowed the issuance of standalone policies. According to industry experts, this move will bring in relief to the policyholders who...
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With the rising healthcare costs and the increased occurrence of lifestyle-based ailments, it is advisable to undergo a health check-up at least once every year, suggest experts. Well, most might not be aware, many health insurance policies have the built-in feature of free health checkup. This is one of the key attractions of such policies. It is always advised to get regular health checkups as...
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Depending on the individual or family’s needs, one must decide on the type of policy to buy. Find out the key factors to consider prior to purchasing a health insurance policy. Key factors to consider prior to purchasing a health insurance policy: In recent times healthcare costs are skyrocketing, and having health insurance has become imperative in one’s financial portfolio. Health insurance policies not only...
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The insurance company understands the nature of risk and calculates the premium to cover that risk at the time of underwriting a policy While buying a health insurance policy, many health-related disclosures are sought by the insurance company. It is because the disclosure of pre-existing diseases is mandatory while buying a health insurance policy. The insurance company determines a policy premium based on the information...
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Cancer covers offer higher sum assured than regular health insurance policies, along with stage-based payouts Reports estimate about 10 lakh people fall prey to cancer every year in India. According to an Indian Council For Medical Research report, the number of cancer patients is expected to rise from 14 lakh in 2016 to over 17.3 lakh by 2020. With the rise in the number...
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