These plans are suited for individuals and families with regular OPD needs -- those managing chronic illnesses and families with young children or elderly members.
The insurer has launched a personal health wallet with an aim to motivate people to not only buy health insurance but also stay fit
'Go for a base cover of Rs 10 lakh and then buy a super top-up of Rs 90 lakh.'
State-owned Life Insurance Corporation (LIC) is not keen on a composite license but it is looking to buy less than 50 per cent stake in a standalone health insurance company to enter the health insurance segment such that they have a say in the management of the company, without having to run the company, sources in the know said. "LIC doesn't need a composite licence. "Even if it is introduced, they will not opt for it.
Policy owners need to avoid errors on their part to prevent claims from being denied.
'Try to buy a policy with a lower sum assured or one with a deductible.' 'Those whose spouses work for companies must get themselves enrolled into the employer's group health cover.' 'Some public sector banks also offer group health covers to those who open a savings account with them.'
'While many policies say that they will cover mental illnesses, the wordings of a few still have mental illness as a permanent exclusion.' 'After the new IRDAI circular, such exclusions should go away.'
Rakesh Kaul, CDO, Edelweiss General Insurance, answers your health insurance queries.
Insurance companies are going all out to grab eyeballs.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
Make sure you read the policy wording. Some policies cover pre-existing diseases while others don't. Many need a minimum 24-hour hospitalisation, advises Bindisha Sarang.
According to a well-being survey, mental stress levels for people working at offices and factories have increased substantially in India this year due to economic slowdown.
Those who have an insurance policy need to check its clauses to determine if it covers home care treatment, advises Bindisha Sarang.
'It is a good match for those aged 25-30, who have just started working and need a basic product.'
The first and most important check you must run is to see if you have adequate life cover.
Some insurance companies offer zone-based pricing.
Once the child is 90 days old, parents must add her to the family health floater cover, suggests Sanjay Kumar Singh.
Cost of the diagnostic test for Covid-19 has been fixed at Rs 4,500 per test by the government. Hospitals, however, do not think this is feasible.
Anik Jain, founder and CEO at Symbo, will answer your questions on insurance -- life, health, motor, travel, etc -- on a weekly basis.
If you contract a disease a few years after buying a health cover, disclosure isn't mandatory. But if you want to increase the sum assured, premiums could go up.
Banks and insurers are beginning to reward customers who show exemplary conduct with lower prices and penalise those who behave poorly by imposing higher costs.
'Children should include their parents in the group health insurance cover provided by the employer at the earliest.' 'However, the elderly should not depend on it alone and should also buy a personal health cover,' suggests Sanjay Kumar Singh.
While the benefits offered by the new-generation products are alluring, choose a plan that offers features you may actually need in the future
After the Delhi high court's ruling, blanket exclusion of genetic disorders from coverage is likely to become a thing of the past.
A sum insured of Rs 3 lakh to Rs 5 lakh may have been sufficient seven-eight years ago but would be inadequate today, especially for people living in metros, points out Sanjay Kumar Singh.
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Foreign investment cap in insurance sector raised to 49 per cent.
While buying health policies, customers should reveal any pre-existing diseases. This is the only way to ensure that the insurer does not reject claims.
All payments made via debit and credit cards, net banking and mobile wallets will be entitled to discounts.
Instead of getting confused by what agents tell you, check waiting period, claim-settlement ratio, price comparison etc to make the right choice.
Most policies have a 30-90 days waiting period, during which you will not be able to claim any hospitalisation expense, except in case of accidents.
Amazon committed a fresh investment of $3 billion, in addition to the $2 billion it announced in 2014.
According to Section 80D, the premium paid for medical insurance is deductible from your income up to Rs 15,000 a year
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