The best time to buy health insurance is when you don't think you need it.
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.
'We want to play the value game for our consumers, which is health and retail will grow faster for us than the group.'
Health insurance policy-holders will be able to avail a discount on the premium payable if there were no claims made in the previous year, according to the circular released by the regulator.
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.'
'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
In numerous instances, family members are unaware of an insurance policy's existence, let alone its details.
'Splitting must result in tangible benefits for the customer, otherwise it will only mean more work for them in maintaining the policy and for their nominees.'
