To add to the worry of the insurers, non-Covid claims, which were muted in the initial months of the pandemic, have also picked up pace and are more or less at pre-Covid levels.
Insurers say they will have to study the available data to work out by how much premiums will have to go up to be able to cover mental illnesses as well
Chief Minister-designate Rekha Gupta and her Council of Ministers will take oath at the Ramlila Maidan on Thursday afternoon in the presence of Prime Minister Narendra Modi, marking a return of the BJP in Delhi after 26 years.
The higher limit will be useful for senior citizens in particular
Although India's private health insurance industry's business volumes have grown by over 35 per cent a year in the last few years, a staggering 85 per cent of the population remains uninsured, according to industry estimates.
The road transport ministry has allowed cab aggregators to charge up to two times the base fare during peak hours, as against 1.5 times earlier, while for non-peak hours the fare has to be a minimum of 50 per cent of the base fare.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
Prime Minister Narendra Modi asserted on Tuesday that India's water will no longer flow outside the country but will be utilized in the nation's interest, a statement seemingly directed at Pakistan following his government's decision to put the Indus Waters Treaty in abeyance after the Pahalgam terror attack. Addressing the ABP Network's 'India@2047' Summit, Modi emphasized his government's focus on interlinking rivers, noting that water used to be a source of conflict among states, before alluding to India's stance against Pakistan while discussing water. He highlighted the finalization of the India-UK free trade agreement as a historic milestone and underscored the importance of prioritizing national interest for achieving objectives and realizing the country's potential. Modi highlighted the country's growth and development under his government's rule, emphasizing its focus on welfare schemes and digitalization. He reiterated his government's commitment to 'Nation First' and pointed to the recent reforms undertaken, including the new Waqf law and the ban on triple talaq, which he said were aimed at benefiting the marginalized sections of society.
The first and most important check you must run is to see if you have adequate life cover.
Then don't just sign the form and expect the insurance agent to do the rest. That can prove costly.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
'Covid-related claims were almost 2.5 times the normal claims size.'
Atishi, a former Delhi Chief Minister and AAP leader, accused the newly formed BJP government of failing to fulfill Prime Minister Narendra Modi's promise of providing financial assistance to women under the Mahila Samridhi Yojana. She questioned why the scheme, which promised Rs 2,500 to each woman in Delhi, was not passed at the first cabinet meeting.
Insurance behemoth Life Insurance Corporation of India (LIC) is the fourth largest insurer in the world, according to a ranking based on life and accident & health reserves of companies in 2022 by S&P Global Market Intelligence. The state-owned insurer is ranked after Allianz SE, China Life Insurance Company, and Nippon Life Insurance Company. According to the report, LIC's reserves stood at $503.7 billion. Germany's Allianz SE ($750.20 billion), China Life Insurance Company ($616.90 billion) and Nippon Life Insurance Company ($536.80 billion) are the top three insurance companies in the world.
'Apart from providing you with the ability to withstand escalating medical expenses, a dedicated financial plan for health will also ensure financial independence in old age,' advises Arun Thukral, MD & CEO, Axis Securities.
The proposed portable health insurance policy, earlier to be sold only to those between 18 years and 40 years, is to now cover individuals from three months to 65 years. The product, which has been in the works for over a year, has been cleared by the General Insurance Council, the industry lobby, which will approach the regulator to approve the product.
'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
Chaudhary also said that 66 per cent of government-sponsored health insurance schemes in the country are being run by the central government. "When the COVID-19 pandemic started, a decision was made for sale of all medicines at the GST rate between 5 and 12 per cent and the GST rate for COVID-19 related medicines and instruments has been reduced to five per cent," he said during the Question Hour.
It acts as an additional health safeguard in case your basic insurance plan is not enough to take care of your medical bills
The South Korean government is inviting applications for fully funded Seoul Tech Scholarships 2025.
It is likely health insurance premiums may actually fall, at least for the individual segment
K G Krishnamoorthy Rao, managing director and CEO, Future Generali India Insurance, answers insurance queries.
When faced with a medical emergency, you pay cash or use your credit card, instead of asking why the hospital is not accepting your cashless medical insurance.
Under Section 80D, you can avail of deduction on payment made towards preventive health check-ups.
Wipro's clients currently include over 100 US payers, healthcare providers, and public health agencies.
Over 25 crore workers across India are set to strike against new labour codes and privatisation, potentially disrupting banking, postal, and other essential services.
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
India currently performs around 6,00,000 to 7,00,000 laser-assisted in situ keratomileusis (Lasik) and refractive procedures a year, and the uptake is accelerating.
These policies can help you protect against the risk of financial loss.
There are a number of sections under the Income-Tax Act that give additional tax benefits on medical insurance premium.
Sanjib Jha, CEO, Coverfox Insurance Broking, lists 5 important things to look out for when buying a health insurance policy.
If you are a frequent traveller, then you should opt for a multi-trip travel plan because it works out to be cheaper.
'Last year (FY21), we had about 1 million intimated claims for Covid.' 'This year (FY22), in six months, we got about 1.6 million claims.'
The Insurance Regulatory and Development Authority has clarified that only the premium collected for providing health cover in the case of unit-linked health insurance policies will be eligible for tax benefits.
'Our pet insurance policy is similar to the health insurance for humans.'
The opposition Congress listed 59 promises in its 106-page manifesto, with assurances for all sections of the society, including farmers, women and government employees.
Over 53 lakh poor families are expected to avail the health insurance cover provided under this scheme, reports Sharat Pradhan
More than 25 crore workers engaged in sectors ranging from banking, insurance, postal to coal mining, highway and construction are expected to go on a nationwide general strike on Wednesday, potentially disrupting services across the country. A forum of 10 central trade unions and their associates has called for a general strike or 'Bharat Bandh' to "oppose the anti-worker, anti-farmer and anti-national pro-corporate policies of the government".
