While there has been a rise in obesity reduction surgeries, it may still take time before health insurance cover is made available for these.
The insurance regulator wants the removal of the minimum entry capital requirement of Rs 100 crore for setting up an insurance business in a bid to facilitate the entry of multiple players such as standalone micro insurers and niche players. Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players, depending on the size of the business and operations. According to the current norms, insurers are required to have a minimum paid-up capital of Rs 100 crore.
"Customers can only take the policy in totality. So it's important to understand the benefits offered under the existing health policy and to match those with the plan one wishes to port to," says Apollo Munich Health Insurance CEO Antony Jacob.
Most people do not know how to use it. At best, it provides tax benefit.
Insurance Regulatory and Development Authority also favoured portability in the health insurance space, a move that will pave the way for the consumers to switch from one insurer to the other for their mediclaim policies.
Insurance advisors say it is imperative to compare the features on offer before buying a policy. A careful perusal of wordings will highlight the policy clauses unfavourable for you.
Other proposals include grading of hospitals, expanding network.
Now that insurance companies are offering portability the one question uppermost in every mind is: Should one opt for it? While it is too early to provide an answer in black and white the best strategy policyholders could follow now is wait and watch, says Salil Dhawan.
Knowing the inclusions and exclusions of the insurance plan tells the coverage limit of your plan.
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
Travel insurance policies do not generally cover adventurous or sporting activities such as bungee jumping, paragliding, mountain climbing, or white water rafting, which fall under hazardous activities.
The new draft guidelines issued by IRDAI proposes a minimum sum assured of Rs 50,000 and a maximum of Rs 5 lakh. A General Insurance Council official said the guidelines were still being worked on and would only be finalised next week.
The government has proposed to encourage setting up of stand-alone health insurance companies, which could provide cover even for routine OPD treatment in hospitals and nursing homes without getting admitted.
New India Assurance, National Insurance and United India Insurance are following Oriental Insurance Company in raising health insurance premium rates by 50 to over 100 per cent.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Information Technology (IT) major Infosys escalated the legal tussle with Cognizant by filing a countersuit in a US court, accusing the Nasdaq-listed firm and its Chief Executive Officer (CEO) Ravi Kumar of anticompetitive practices by maintaining its monopoly. Infosys has also alleged that Kumar misused sensitive information that slowed the launch of the company's health care platform Helix.
Many of these are group products and don't get tax benefits; compare premiums and products, make sure they fulfil your needs.
Finance Minister Nirmala Sitharaman on Saturday said the government will arrange identity cards and registration on the e-Shram portal to assist 1 crore gig workers. Presenting the Union Budget 2025-26, the finance minister also said a scheme for the socio-economic upliftment of urban workers will be implemented.
A sum insured of Rs 3 lakh to Rs 5 lakh may have been sufficient seven-eight years ago but would be inadequate today, especially for people living in metros, points out Sanjay Kumar Singh.
Workplaces of 2025 will be defined by a deep focus on people-first values, inclusivity, and sustainable growth, foresees Sonica Aron, founder of Marching Sheep.
Your entire contribution can go down the drain if policies are not renewed on time
The move comes amid a border row over Belagavi between Karnataka and Maharashtra which flares up from time to time.
The board of Religare Enterprises Ltd (REL) has rallied behind its embattled chairperson Rashmi Saluja, saying she had turned around the financial services company whose market cap has increased to about a billion dollars from under $100 million in March 2018. The board -- which is fending off an Rs 2,200 crore open offer by the Burman family -- said accusations had not only targeted Saluja but the entire Religare management that has made Religare debt free. "Our story has been one of resurgence under the guidance of the Board of Directors led by Saluja, executive chairman.
That's the 27 year old who shot an insurance CEO in New York and nearly got away with it...until he was spotted at a McDonalds in Pennsylvania by an alert employee who tipped off the cops...
The task force has favoured that Rashtriya Swasthya Bima Yojana should cover domestic workers, a Labour Ministry official said on Monday.
Do you think cashless medical insurance is quite helpful in countering an emergency? Or do hospitals behave as if the price for a patient without insurance is less than for a person with insurance?
Take a top-up or a standalone health cover; it will help you switch jobs and give larger coverage.
Take a top-up or a standalone health cover; it will help you switch jobs and give larger coverage.
Expenditure on health in India is at a global low of 1.2% of GDP.
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC. "The Authority has identified SBI Life Insurance Company Limited (SBI Life), which is one of the largest life insurers in the country with satisfactory financials, as the acquirer insurer of the life insurance business of SlLIC.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
Harris will appoint hundreds of extreme far-left judges to 'forcibly impose crazy San Francisco liberal values' on Americans nationwide, he alleged, invoking the spectre of San Francisco -- a liberal city long used as shorthand by conservatives eager to denigrate Democrats.
Private equity firm, ICICI Venture, on Thursday said that it plans to invest Rs 120 crore (Rs 1.2 billion) in Star Health and Allied Insurance Company, marking the first private equity deal in the Indian health insurance sector.
"This is a huge positive and is expected to bring in $8-10 bn capital in the industry."
The latest tension between the two states cropped up after the Shinde government recently announced that it would allocate an additional Rs 54 crore for its 'Mahatma Jyotiba Phule Jan Arogya Yojana', so that the benefits could be extended to the border villages in Karnataka that Maharashtra has been laying claim to.
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Foreign investment cap in insurance sector raised to 49 per cent.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The Insurance penetration in India is very low at 3.9 per cent.
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