News


World Mental Health Day 2019: It is time to talk about your mental health

10

Oct 2019

World Mental Health Day 2019: It is time to talk about your mental health

IRDAI has made it mandatory for all health insurers to provide adequate coverage for mental illnesses and related ailments in the regular health insurance policy. In line with the directions of IRDAI, insurers have started customizing products that cater to the specific needs of people suffering from mental illnesses. If you have ever in your life heard about the term ‘mental health’ and have thought...

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Motor Vehicles Act, 2019: 5 must-know updates to avoid penalties

09

Oct 2019

Motor Vehicles Act, 2019: 5 must-know updates to avoid penalties

Motor Vehicle Penalties 2019: Purchasing Third-party Liability insurance is mandatory whereas buying Own Damage cover is optional, but highly recommended. Here are 5 must-know pointers about The Motor Vehicles Act, 2019 if you own a vehicle. The Motor Vehicles Act got another upgrade in 2019. New rules have been applicable from September 1 and they have already created a lot of buzz. This is mainly...

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Driving without motor insurance? You may end up paying in crores!

07

Oct 2019

Driving without motor insurance? You may end up paying in crores!

Motor insurance has two parts – own-damage part to cover the cost of repair for damage of the vehicle and third party insurance to pay claim raised by an accident victim or his/her family. The aim of the government is not just to fill its coffers by charging you heavy fines, but to protect you from getting bankrupt in case of someone’s accidental death caused...

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Good news! All health conditions, illnesses acquired after issuance of a policy will now be covered

04

Oct 2019

Good news! All health conditions, illnesses acquired after issuance of a policy will now be covered

IRDAI has even issued a list of guidelines that specify the various ailments that will now be covered under every health insurance policy. To ensure that policyholders suffering from pre-existing diseases get adequate health insurance coverage, IRDAI has made it clear that insurance companies can include permanent exclusions only after due consent of the customers. As an ode to the health insurance policyholders and to...

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New IRDAI rule: Forced to buy travel insurance by agent? Do this

30

Sep 2019

New IRDAI rule: Forced to buy travel insurance by agent? Do this

IRDAI has issued certain norms to be followed for the travel insurance policies offered under Group platform or through any travel agency or portal. The buyer shall be able to specifically choose whether or not to buy the coverage. The Insurance Regulatory and Development Authority of India (IRDAI) has introduced certain customer-friendly guidelines for the General and Standalone Health Insurance Companies to offer on their...

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This World Tourism Day learn how to choose the right travel insurance policy

28

Sep 2019

This World Tourism Day learn how to choose the right travel insurance policy

Just buying any travel insurance policy will not solve your purpose as it is equally important that you choose the right insurance plan. While buying a travel insurance, do check if any of your travel companions has any pre-existing medical conditions that may require emergency attention. The very thought of getting emergency medical treatment at a foreign land is scary as it can prove to...

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Tweak in health insurance policy norms to benefit customers

25

Sep 2019

Tweak in health insurance policy norms to benefit customers

Irdai has allowed insurance companies to do minor modifications such as changes in the frequency of premium payments, change in policy wordings on certification basis without waiting for its approval At present, the maximum entry age for a health insurance policy is 65 years. In order to make individual general and standalone health insurance more customer-friendly, insurance companies can do minor modifications such as changes...

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Soon pay health insurance premium in installments

24

Sep 2019

Soon pay health insurance premium in installments

“The premium mode (frequency) proposed to be added may be monthly, quarterly or half yearly and the resulting premium amounts under each mode (frequency) are consistent with premium amounts under other premium modes (frequencies) of the underlying product,” the circular said. The change in frequency of premium payment has been permitted through a circular permitting insurers to go in for minor modifications in policies filed...

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Mobile Prepaid customer? Now get complimentary life insurance of Rs 4 lakh: Check details

23

Sep 2019

Mobile Prepaid customer? Now get complimentary life insurance of Rs 4 lakh: Check details

As per the IRDAI, the insurance penetration in India is less than 4 per cent of the population while mobile penetration is close to 90 per cent. The life insurance cover is available to all those aged 18-54 years, and requires no paperwork or medical examination. Airtel Prepaid Recharge Offer: There is good news for the Airtel prepaid users as the company has partnered with Bharti...

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Family Floater vs Individual Health Insurance: Know pros and cons to decide which one to opt for

21

Sep 2019

Family Floater vs Individual Health Insurance: Know pros and cons to decide which one to opt for

With ever increasing cost of healthcare, taking a health insurance cover has become a must for everyone to eliminate the uncertainty of paying exorbitant bills – especially of private hospitals if get admitted. All health insurance companies offer individual and family floater options under every basic health insurance plan. With ever increasing cost of healthcare, taking a health insurance cover has become a must for...

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Business Travel Insurance: Travelling for business? Here’s why this insurance cover is a must for you

20

Sep 2019

Business Travel Insurance: Travelling for business? Here’s why this insurance cover is a must for you

Similar to other insurance plans, travel insurance comes in handy at the time of unexpected circumstances, particularly during international travel. Employees and business travellers who take two or more international trips during the year, even if it is a mix of business and leisure travel, might be better off with an annual travel insurance plan With the boom of organisations spreading their footprint and expanding...

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What is the right age to purchase health insurance?

19

Sep 2019

What is the right age to purchase health insurance?

Buying health insurance at an early age allows you to accumulate the cumulative benefits by the time you are older when you can avail of higher coverage. Health insurance plans offer the financial stability required during trying times, thereby allowing you to focus on the treatment. It is a common belief that when you are young and healthy, there is no need to avail of...

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5 smart ways to get FREE insurance cover up to Rs 50 lakh

17

Sep 2019

5 smart ways to get FREE insurance cover up to Rs 50 lakh

There are many financial products which come with an add-on insurance benefit. Once you become aware of it, then it can help you in a big way. Though complementary insurance seems very attractive and covers certain types of risks, but you must not ignore the regular insurance products to cover specific risks. When you buy or invest in a financial product, most often you forget...

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Car Insurance: When you should avoid filing a motor insurance claim

16

Sep 2019

Car Insurance: When you should avoid filing a motor insurance claim

There are numerous factors that one must consider before making a motor insurance claim in order to enjoy maximum benefits. In any road accident, the very first thing that comes to the vehicle owner’s mind is motor insurance unless there is any casualty. Among all other accidents, road accidents are the most common in India. In 2017, there were around 4,66,000 road accidents in which...

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Common pitfalls in a car insurance policy and how to avoid them

15

Sep 2019

Common pitfalls in a car insurance policy and how to avoid them

Despite repeated awareness and options, people tend to make some common mistakes while opting for car insurance. Some common tips you can keep in mind while choosing a car insurance policy. You don’t wake up one fine morning, walk into a showroom to buy a car and drive away with it. There is a lot of research that goes into buying a car. You want...

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Irdai to start taking applications for regulatory sandbox from September 15

14

Sep 2019

Irdai to start taking applications for regulatory sandbox from September 15

The regulator also said that in the months to come, they would again open the application under sandbox technology. Insurance Regulatory and Development Authority of India (Irdai) will start taking applications for the ‘Regulatory Sandbox’ from September 15 to October 14. The insurance regulator launched the Regulatory Sandbox during the opening session of the ‘Curtain Raiser and Workshop on Regulatory Sandbox’ organised by Irdai in...

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Policy Lapsed? Purchase a new policy within 90 days of expiry or lose this benefit

13

Sep 2019

Policy Lapsed? Purchase a new policy within 90 days of expiry or lose this benefit

Motor Vehicle Act 2019: While driving, keep insurance record with you and if it has lapsed, ensure to renew it early especially before the expiry of 90 days. Third party insurance for two wheeler: The vehicle can be insured till the validity of the registration of the vehicle. Lapsed Insurance Policy: After the amendments in the Motor Vehicle Act 2019, the penalties for traffic violations...

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Motor Insurance: Your tariff challans may soon impact the insurance premium you pay

12

Sep 2019

Motor Insurance: Your tariff challans may soon impact the insurance premium you pay

The insurance regulator is looking into linking traffic violations committed by the registered owner or driver of the vehicle with the motor insurance premiums to be paid. The terms of reference of the working group will also be to develop data fields required to implement traffic violations as rating factor in motor insurance With the government focusing on Intelligent Traffic Management System in metros, motor...

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Car insurance coverage for road trip enthusiasts: The finer points

11

Sep 2019

Car insurance coverage for road trip enthusiasts: The finer points

If you are one of the adventurous types who like to venture out on a road trip on a frequent basis, read on to know more about car insurance espically if you are a road trip enthusiast. Do not buy a plan without understanding the terms and conditions, and inclusions and exclusions By Animesh Das There are people who drive a car within a limited...

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Have you got insurance cover for your home?

10

Sep 2019

Have you got insurance cover for your home?

A home insurance policy with a sum assured of more than `50 lakh would require physical inspection of the property, depending on the insurer. An individual can buy and renew a home cover even online without any documentation and physical inspection of the property, unless someone is opting for a higher sum assured or a specific package. With floods ravaging several states this year, the...

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