These plans are suited for individuals and families with regular OPD needs -- those managing chronic illnesses and families with young children or elderly members.
A home insurance policy covers damage from earthquakes, fires, explosions, floods, landslides, cyclones, storms, aircraft damage, and acts of terrorism.
Purchase health insurance early while you are disease-free. 'It might become very difficult to get a comprehensive health cover for someone who has already had cancer.'
Customers frequently sign without reading the terms and conditions, resulting in a poor understanding of coverage, and eventually leading to partial payouts
Before heading abroad, ensure your travel insurance policy offers all essential coverage and has an adequate sum insured.
Do not get repair work started without informing the insurer as the latter like to carry out end-to-end verification of damages and documents before approving a claim.
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.
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