Flood insurance claims can be rejected or reduced if homeowners do not understand what their policy actually covers.
Protect your vehicle from the unpredictable monsoon season by understanding essential motor insurance add-ons like Engine Protect and Zero Depreciation, crucial for covering damages from floods, waterlogging, and preventing costly out-of-pocket expenses.
Combine a robust base health plan with a super top-up, critical illness cover and a dedicated medical corpus to protect household finances from soaring treatment costs.
Proposal forms are often filled by the agent. Check the form after it is filled.
Marine war-risk premiums for West Asian shipping routes, particularly the Red Sea corridor, have surged by as much as 200 per cent due to renewed geopolitical tensions, with some high-risk transits seeing increases of over 1,000 per cent, according to industry brokers.
'Many policyholders do not understand that non-medical expenses, cosmetic treatments, and certain other procedures are not covered by health insurance policies.'
As heart disease increasingly impacts young Indians, understanding the complexities of health insurance, including higher premiums, waiting periods, and the benefits of specialised cardiac policies, becomes vital for financial protection.
If reimbursement becomes unavoidable, submit a complete file at the earliest.
Most owners assume car insurance covers everything, but hidden exclusions can lead to claim rejections and unexpected financial shocks.
Wedding insurance goes far beyond protecting against cancellations.
An Home Loan Protection Plan repays the outstanding loan if the borrower dies or suffers a covered disability.
Futures and options (F&O) trading suits investors with good market knowledge, sufficient risk capital, a tested strategy and strong discipline.
Buyers should understand the distinction between the losses the policy covers, those that need add-ons, and those it excludes.
'Reviewing terms such as war, invasion, acts of foreign enemies or hostilities, which often appear in industry exclusion lists, can help avoid surprises at the time of claim.'
Young buyers often underestimate future health risks.
Insurance intermediaries who receive disproportionately high commissions are likely to see a decline in their payouts, post the new Insurance Amendment Bill. The new Bill gives the Insurance Regulatory & Development Authority of India (Irdai) the power to disgorge unlawful gains made by insurers and intermediaries as well as the right to limit commissions paid to intermediaries.
Younger customers should opt for increasing cover as their financial commitments are likely to rise in the future.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
...reopen for up to six months. Until then, the Strait stays nearly closed. The world pays. And no one, including the man who started this, can say when it ends, notes Prem Panicker in his must read blog on the Iran War.
'As on August 25, 94,753 Govindas have been insured.' 'This number is expected to rise further, as proposals for 5,000 to 8,000 Govindas are received daily.'
Fraudsters lure individuals with false promises of recovering bonuses or maturity proceeds from lapsed policies.
'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
'As we get older, our health risks increase, and this makes health insurance significantly more expensive for seniors.'
These plans are suited for individuals and families with regular OPD needs -- those managing chronic illnesses and families with young children or elderly members.
Cyber insurance policies cover ransomware attacks and the ensuing damages, including ransom payments, data restoration costs, forensic and other first-party costs, and loss of profit due to business interruption.
Banks offer a wide range of group insurance plans -- personal accident, health, hospital cash, home insurance, credit protection, and critical illness.
A rider is a supplementary cover which can be purchased with the base policy by paying an additional premium.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
The Securities and Exchange Board of India (Sebi) on Wednesday overhauled the cost framework for the 80 trillion domestic mutual fund (MF) industry, introducing a simplified structure aimed at improving transparency for investors while balancing the impact on asset managers.
Make sure that the waiting period on pre-existing diseases does not exceed two years. Avoid policies that come with room rent and ICU capping, suggests Sanjay Kumar Singh.
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
In October last year, market regulator Securities and Exchange Board of India had approved life insurance companies to issue IPOs.
For online plans, the drop-out rate for policy buyers increases if there are too many questions.
'Market momentum and investor interest are at unprecedented levels, making this the opportune moment.'
While proposals for covers in volatile markets aren't denied, premiums are much higher - by as much as 100-600%
Only a small percentage of passengers who traveled on the trains involved in the June 2, 2023 accident in Odisha had availed of travel accident insurance while booking their tickets online on the IRCTC portal.
'There is a debit execution failure which is because there is not enough money in the user's bank account.'
Customers frequently sign without reading the terms and conditions, resulting in a poor understanding of coverage, and eventually leading to partial payouts
Ensure the sum insured for the super topup is enough to cover even worst-case scenarios.
