Even as non-life insurers reported muted premium growth in October, standalone health insurers saw a robust 38 per cent year-on-year (Y-o-Y) surge. This growth was driven by pent-up demand in the retail health insurance segment.
'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.
It is similar to top-up health insurance plan, but provides for one or more claims cumulatively crossing the threshold limit.
With medical inflation hovering at around 13-14 per cent annually, policyholders must reassess their sum insured once every two years.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Purchase health insurance at an early age, before you incur a disease, as this makes access to health insurance difficult and raises the premium significantly.
Follow these steps to avoid last-minute surprises while claiming your mediclaim -- via cashless or reimbursement method, says P V Subramanyam
Industry experts believe that health insurance companies are unlikely to experience business cannibalisation due to the central government's decision to extend health coverage to people aged 70 and above, regardless of their income level, under the Ayushman Bharat scheme. On Wednesday, the Union Cabinet expanded the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) to include all senior citizens aged 70 and older. This move is expected to benefit nearly 45 million families, comprising 60 million senior citizens, by providing Rs 5 lakh in free health insurance coverage per family.
Make sure that the waiting period on pre-existing diseases does not exceed two years. Avoid policies that come with room rent and ICU capping, suggests Sanjay Kumar Singh.
'Pick a sum insured that realistically covers major hospitalisation costs in your city.'
'Having a separate healthcare corpus is extremely important even for those already covered by health insurance.'
Both the life and non-life insurance segment posted over 20 per cent premium growth in November for the first time in this financial year (FY26), supported by the reduction in goods and services tax (GST) on premiums from 18 per cent to zero and a favourable base effect.
These losses increase insurance premiums for customers and reduce insurer margins on the other.
If cashless services are suspended, AHPI said, its member hospitals will continue to treat Star Health policyholders, but patients will have to pay upfront and later seek reimbursements directly from the insurer.
The average ticket size of retail health insurance in India has increased by nearly 48 per cent over 6 years due to elevated medical inflation and increased demand for higher coverage policies among policyholders. According to data by online insurance broker PolicyBazaar, the average ticket size of retail health insurance in India has increased to Rs 26,533 so far in FY24, up 48.22 per cent from Rs 17,900 in FY19.
When illness strikes, this cover cushions the fall -- guarding health, finances, and the family's fragile future
Naval Goel explains the importance of day-care health insurance
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
Takes care of expensive medical treatment at affordable cost even as you get quality treatment and tax benefit out of it, says Naval Goel
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH insurance and AUTO insurance.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Ashish Mehrotra, MD and CEO, Max Bupa Health Insurance, explains the changes we can expect in health insurance this year.
Most first-time investors may be better served by diversified options such as flexicap or multi-cap funds, which already hold pharma and healthcare stocks.
This solution will help improve access to health benefits for 24,000 members on its L.A. Care Covered plan offered through the Covered California health insurance marketplace, Infosys said in a statement.
Join us for an online chat with health insurance expert Anil Rego between 2 pm and 3 pm on Wednesday, October 7.
To handle the sudden loss of cashless facility, patients should maintain an emergency fund or a short-term credit line to manage all or part of hospitalisation costs.
The Association of Healthcare Providers - India (AHPI), representing hospitals and healthcare institutions across the country, has advised its members in north India to stop providing cashless treatment facilities for policyholders of Bajaj Allianz General Insurance Company, with effect from September 1.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
Keep a check on the waiting period and exclusions while buying a health insurance plan and see if it fits your requirements.
Some of these plans will weigh on your pocket. The increase in premium could also be large as you grow older.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
IRDA suggested that health insurance should cover alternative treatments.
Now that cashless is once again the national buzzword, Harjot Singh Narula explains what you must know about cashless treatment under health insurance plan
Contrary to popular perception, health insurance is rarely expensive and claims are usually paid by the insurers.
Buying a health insurance policy doesn't mean that you start getting cover from day one of the policy, says Harjot Singh Narula.
Naval Goes demystifies an important insurance jargon and explains its pros and cons
Aslam Hunani presents some of the frequently asked questions about health insurance in India.
Companies selling health insurance are not in the business of giving away money. Let us face the fact that more they deny the claims, more they will earn. So, it is better for you to think and check out on all the details of a perfect health plan before signing the agreement.
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