The move is likely to reduce premiums of policies and boost access to affordable health cover
A client, and not the insurance agent, has to ultimately bear the consequences of not revealing critical information.
Move will help firms adapt to changing customer preferences
Currently, insurance companies have to obtain prior approval from the insurance regulator to launch new products
Irdai has tweaked 'Use and File' procedure for all health insurance products and almost all the general insurance products in line with the reform agenda taken up towards having a fully insured India
Insurers are looking to limit their losses on policies after underestimating the extent of the Convid-19 cases in Taiwan
The tech-enabled home services company has tied up with ACKO Insurance to craft this insurance cover.
CI plans generally offer global coverage. "Even if the insured is diagnosed with a CI outside India, this plan will make a pay-out," says Vivek Gambhir, a product head at Tata AIG General Insurance
This is the first insurance plan in India that covers fixed-benefit outpatient expenses and provides financial assistance with costs related to overall dental health
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In case of illness, households tilt slightly in favour of the public sector in seeking care compared to the private sector
Accumulated no-claim bonus and advantage of having crossed waiting period will be lost if you fail to pay your health insurance premium on time
If your insurer has hiked the premium rate excessively, consider porting
While insurers have witnessed a jump in health premiums over the last two years, their claims burden has also gone up.
There was a marginal increase of 0-5 per cent in group health insurance premiums
The claim cost could be 10 to 30 per cent cheaper when the insurance is bought from public sector insurers that have GIPSA rates compared to the service provided by private insurance firms, it said
Premium costs jump 10-15%, driven by large number of claim payouts during pandemic as well as factors such as rising healthcare costs
Paytm's app also offers access to public health services and Covid vaccines & booster registration, online medicine orders, doctor consultation, lab test booking and health insurance
It works with over 250 companies and covers employers with teams as compact as 10 employees.
At present, GST on health insurance services is levied at a standard rate of 18 per cent