The amount for which free check-up is offered can be quite low, while in some policies it comes only after a considerable waiting period.
Cardiac patients whose proposals for a regular health insurance plan get turned down should apply for a cardiac-specific plan.
TDS on health insurance claim payments reimbursed to hospitals should be NIL
The Group of Ministers (GoM) on goods and services tax (GST) rate rationalisation, which convened in Goa on Wednesday, reviewed the GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials. However, no consensus was reached on any of the items, with further discussions scheduled for next month in Delhi.
To ensure a glitch-free rollout of the next-generation GST with reduced rates and lesser slabs, Finance Minister Nirmala Sitharaman chaired three separate meetings to assess GSTN's preparedness and the time it would take to implement technological changes required in the software systems.
The unprecedented rise in Covid-19 infections in the country, which many are terming as the second wave, has also resulted in a rise in Covid-related claims for general and health insurance companies as hospitalisations have gone up. The insurers have received more than a million Covid-related claims as of April, 2021. According to the data compiled by General Insurance Council, the reported claims total 1.014 million, amounting to more than Rs 14,800 crore.
In its master circular on general insurance products, which takes immediate effect, Irdai specified, 'The customer may be required to submit only those documents directly related to claim settlement.'
'It is good for us if the JMM contests. That will divide the Opposition and give us the upper hand.'
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.
Soon standalone health insurance companies will be governed by separate regulations
All employees should supplement the employer-sponsored health cover with a personal cover.
The finance ministry has asked state-run general insurers to increase premiums on health insurance, motor and other policies, and refrain from undercutting each other to get new business.
From managing expectations to bearing the high cost of the procedure, IVF treatments are a complex emotional journey that could strain your marital relationship, warns Dr Venkata Sujatha Vellanki, regional medical head and fertility specialist at Oasis Fertility.
'I am very happy to see that the work is starting to bear some fruit now.'
Pvt life insurers are planning to foray into health covers, with standalone health insurance policies.
'It must become faceless, just as the entire direct tax assessment system has already become fully online, without any human intervention in the normal course,' recommends A K Bhattacharya.
Many high-profile IPOs in India since 2021 have destroyed investor wealth due to overvaluation, weak business models, and post-listing disinterest, turning 1 lakh investments into as little as 3,500.
'The kids are already used to this place. We go back and that's a different environment.' 'So, mentally, emotionally we are stressed.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
By choosing your study destination carefully, leveraging government schemes, comparing loan options, and adopting frugal living practices, Indian students can acquire global credentials without mortgaging their futures.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
In the past 10 years, over 500 PSB officers have died by suicide. When targets are overwhelming, senior management and customers are both impatient, and there is constant fear, not every banker has the resilience to survive and thrive, warns Tamal Bandyopadhyay.
Most customers still don't understand this concept and are unable to benefit from it.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses.
Typically, an individual buys a health cover between Rs 3 lakh and Rs 5 lakh.
The 25-35 age group is the most active online in buying non-life insurance products.
The AAP chief stressed the need for an increase in healthcare spending, suggesting a rise to 10 percent of the GDP, along with the removal of taxes on health insurance premiums.
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.
In numerous instances, family members are unaware of an insurance policy's existence, let alone its details.
Many senior citizens 'underestimate the impact of inflation, taxation, health-related expenses, and the heavy premium they will have to pay on health insurance.'
Irdai on Friday extended the 'use and file' procedure for the most of the life insurance products, thereby allowing insurers to launch new products without prior approval of the regulator. This comes days after Insurance Regulatory and Development Authority of India (Irdai) extending similar relaxations to health insurance products as well as general insurance covers. In a press release, Irdai said that in its continuous endeavour towards the reform agenda taken up towards having a fully insured India, it has extended the 'use and file' procedure for most of the life insurance products.
The four public sector general insurance companies -- New India Assurance, United India Insurance, Oriental Insurance, and National Insurance Company -- have lost 800 basis points (bps) in market share in last five years to their private counterparts, the data from the Insurance Regulatory and Development Authority (Irdai) revealed. In 2018-19, the four had a cumulative market share of 40.04 per cent, with New India Assurance having a market share of 14 per cent and United India Insurance with a market share of 9.63 per cent. But, gradually in the past five years, these state-backed firms have lost their market share to private sector players, due to the declining health of their business.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Do you know the most common exclusions in a mediclaim plan? Or, why your base premium keeps increasing over a period of time?
Mahavir Chopra explains the pitfalls one may face after buying a day care insurance policy
It is your duty to be responsible to your health and start saving and investing early in a suitable health insurance, says Naval Goel
Though COVID-19 will wreak more damage to the finances of the Indian population, the insurance sector is unlikely to get hurt.
