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.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
A data breach does not end when the headlines fade. For victims, stolen personal information can fuel fraud, identity theft and financial losses for years.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH insurance and AUTO insurance.
Rakesh Kaul, CDO, Edelweiss General Insurance, answers your health insurance queries.
As heart disease increasingly impacts young Indians, understanding the complexities of health insurance, including higher premiums, waiting periods, and the benefits of specialised cardiac policies, becomes vital for financial protection.
Insurance expert Harsh Roongta on all you MUST know about health insurance policies.
Takes care of expensive medical treatment at affordable cost even as you get quality treatment and tax benefit out of it, says Naval Goel
Ashish Mehrotra, MD and CEO, Max Bupa Health Insurance, explains the changes we can expect in health insurance this year.
Health insurers incorporate conditions like Waiting Period in their offerings to prevent customers from taking undue advantage of a service that is essential.
General insurance companies are likely to see a surge in demand for health insurance in the coming months due to falling air quality in the country. The health insurance segment has registered a strong growth after the pandemic due to higher awareness. In the first half of financial year 2023-24, the segment grew by 24.4 per cent to Rs 54,713.52 crore from Rs 43,981.54 crore in H1FY23, driving growth of the non-life insurance industry.
'Pandemic has triggered interest and awareness among the people about the need for healthcare.'
'A 25 year old buying a high-value policy now will be well covered even in his 40s.'
The states will be asked to tap the Centre's JAM trinity.
New business premium of life insurance companies grew 18 per cent year-on-year (Y-o-Y) to Rs 35,417 crore in February, driven by robust growth at the state-owned Life Insurance Corporation of India (LIC) due to a favourable base.
The removal of tariffs would result in health insurance becoming the second-largest business for general insurance companies over the next three years.The health insurance premium which stood at Rs 675 crore in 2001-2002 has risen to Rs 3,200 crore by March 31, 2007.
Join us for an online chat with health insurance expert Anil Rego between 2 pm and 3 pm on Wednesday, October 7.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
If you can manage to avoid them, you are sure to end up with a right health plan that ensures a fast, hassle-free claim settlement while minimising out of pocket expenses.
India's largest insurer Life Insurance Corporation of India on Monday announced its intention to foray into health insurance sector jointly with another company, which could be a PSU general insurer.
Health insurance policy holders, feeling let down due to poor services, will have the choice to switch over to another company with the same conditions under the insurers portability option to be formulated by regulator Irda next month.
Tamil Nadu Chief Minister C Joseph Vijay announced official vehicles and a monthly allowance for MLAs to address public grievances and monitor government projects in their constituencies. This initiative aims to reduce financial burden, improve transparency, and ensure grassroots service delivery.
The proposed change would give policyholders the flexibility to switch their insurers, with the benefits of pre-existing diseases covered from the first year of shifting to a new company. At present, pre-existing diseases are covered only after the completion of four years of a policy.
'We want to play the value game for our consumers, which is health and retail will grow faster for us than the group.'
Private hospitals accounted for 30.8 per cent of current health expenditure in FY23, while pharmaceuticals and medical goods contributed more than 21 per cent, underlining continued dependence on private healthcare and medicine spending.
With Covid-19 cases across the country rising rapidly once again, demand for health insurance products has spiked. Insurers are seeing an uptick in inquiries for such products and underwriting more premiums in the segment. Already, health insurance was growing at a rapid pace since the onset of the pandemic as awareness around risk had heightened among consumers. But the country recorded more than 600,000 Covid-19 cases in the past week, which is almost a six-fold rise than the previous week. Owing to this, the spike in demand for health insurance products is inevitable, experts said.
Have a query regarding health insurance or mediclaim policy? Maybe we can help. Drop us a line and our expert, Harsh Roongta, CEO of Apnapaisa.com, will answer it.
The healthcare industry on Friday asked the government to revamp the foreign direct investment and capital adequacy norms for health insurance entities to make world-class medical treatment available to Indians and make the country a healthcare hub i
Sanjay Kumar Singh draws up a mediclaim policy checklist.
The life and non-life insurance industries are hopeful of a reduction in the goods and services tax (GST) on health and life insurance premiums, after Prime Minister Narendra Modi, in his speech on Friday, announced GST relaxations aimed at providing relief to ordinary citizens, farmers, the middle class, and the small and medium enterprises (MSME) sector.
Keep a check on the waiting period and exclusions while buying a health insurance plan and see if it fits your requirements.
With all those intricate terms and jargons, health insurance is anything but simple. Here are answers to the nine most frequently asked questions.
Contrary to popular perception, health insurance is rarely expensive and claims are usually paid by the insurers.
If reimbursement becomes unavoidable, submit a complete file at the earliest.
How many health insurance policies should you have? Should you have mediclaim policies at all if you do not have any medical problems? Which are the best health insurance policies available for you today in India? How can one claim money after hospitalisation if you do not have a cashless mediclaim facility? How and where can you lodge complaints against your mediclaim insurance company if you have a problem? Here are the answers.
Naval Goes demystifies an important insurance jargon and explains its pros and cons
The first private equity deal in the Indian health insurance sector is set to be sealed soon.
Buying a health insurance policy doesn't mean that you start getting cover from day one of the policy, says Harjot Singh Narula.
With medical inflation hovering at around 13-14 per cent annually, policyholders must reassess their sum insured once every two years.
'If crude remains above $100 per barrel, with restricted retail-price increases, OMCs could face negative petrol and diesel marketing margins, higher LPG under-recoveries, higher crude-landing, freight and insurance costs, working capital and debt accumulation and inventory losses if crude subsequently corrects sharply.'
