A nationwide strike called by trade unions to protest against the central government's labor policies had a mixed impact across India. While normal life remained largely unaffected in most parts of the country, some sectors like banking, transport, and insurance experienced disruptions. Sporadic incidents of violence were reported in West Bengal.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
'We want to play the value game for our consumers, which is health and retail will grow faster for us than the group.'
As of March 25, life insurers have paid Rs 1,986 crore towards 25,500 Covid death claims
Customers must sign the agreement promptly to avoid disruptions. They should read it thoroughly and understand their rights and obligations.
'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.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Congress MLA Nana Patole was suspended from the Maharashtra assembly for a day on Tuesday after he climbed the speaker's podium, demanding action against Bharatiya Janata Party MLA Babanrao Lonikar and Agriculture Minister Manikrao Kokate for allegedly 'insulting' farmers.
'In diabetes remission, you go below a 6.5 HbA1c without medication.' 'And this happens only when you lose 10 to 15 per cent of your body weight with a good amount of lifestyle and dietary changes, exercise and sometimes medication.' 'You have to be able to sustain your HBA1C below 6.5 for at least a year without medication to say that the patient is in remission.'
Personal data like mobile numbers, PAN, addresses and pre-existing medical conditions of about 3.1 crore customers of Star Health Insurance is allegedly available on a website created by a hacker identified as xenZen. The hacker claimed that Star Health's Chief Information Security Officer (CISO) sold all the data and later tried to change the terms of their deal.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
Although insurers feel loss ratios in the health segment may get impacted, and profitability will take a hit, capital erosion will not take place, at least for the large entities.
According to the data compiled by General Insurance Council, which is not publicly available, the insurers have settled 508,334 claims amounting to over Rs 4,800 crore.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
'India has not faced a major terrorism loss since the Mumbai terrorist attacks in 2008.'
With mobile data getting cheaper, insurers are introducing technologies that eases buying and lodging claims.
Putting together all the required documents and surmounting legal hurdles could be a challenge for the nominee.
Keep revising the sum insured at the time of renewal to keep it in line with inflation.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
Buying term insurance is not a one-size-fits-all purchase. It requires some level of deliberation to ensure that the policy aligns with your needs, life stage as well as future circumstances, says Casparus Kromhout, MD & CEO Shriram Life Insurance Company
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
'Pakistan has found itself in a favourable position after Operation Sindoor by appreciating the mediation as claimed by Trump and recommending him for the Nobel Peace Prize.'
'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.'
Health insurance coverage should be hiked periodically to keep pace with medical inflation, or increase in healthcare costs.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The government has no say in where the country's refiners source oil from because these are commercial transactions.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
The unprecedented rise in Covid-19 infections in the country, which many are terming as the second wave, has also resulted in a rise in Covid-related claims for general and health insurance companies as hospitalisations have gone up. The insurers have received more than a million Covid-related claims as of April, 2021. According to the data compiled by General Insurance Council, the reported claims total 1.014 million, amounting to more than Rs 14,800 crore.
What happens to such a person's life insurance policy? Does the partner or beneficiary or assignee pay the premiums and continue the missing person's life policy in force?
The non-life insurance industry has received over 1 million Covid-related claims in the first quarter of the current fiscal year (Q1FY22), higher than in the entire FY21, indicating the severity of the second wave of the pandemic. According to the General Insurance Council data, which is not publicly available, non-life insurers have received 1.22 million Covid-related claims so far in FY22 and have settled 944,573 of those worth Rs 9,178 crore. In comparison, they had received 986,366 Covid claims in FY21 and settled 849,034.
The Insurance Regulatory and Development Authority of India (IRDAI) is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal, which is a part of the recommendations made by a working group formed by Irdai and the General Insurance Council, suggests that insurance frauds should feature when the risk profiles of individuals are evaluated and should be used to calculate their credit scores. A poor credit score can deprive a person of financial services such as loans and credit cards, and deter him from indulging in fraud.
Don't panic if your car is stolen because your insurer is liable to pay the full amount as compensation, but you need to keep in mind that your claim should be genuine because most of the insurers try to avoid such claims, says Harjot Singh Narula
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
The Supreme Court has ruled that a car driver who applies sudden brakes on a highway without warning can be held negligent in the event of a road accident.
'I can feel the master's pain, because he must be sitting there and cursing and saying, 'Why was I born?''
The National Commission concluded that the claim had been rightly rejected on grounds of misrepresentation in the proposal form and breach of duty to maintain utmost good faith while applying for insurance coverage.
'It is important to ensure that the person driving the car has a valid driving licence, is in a stable mental condition and is not under any heavy medication or influence of alcohol,' says K G Krishnamoorthy Rao, MD and CEO, Future Generali India Insurance.
Any defect identified by the expert would have to be rectified within one month, failing which compensation of 5,000 per day would be payable.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
Consider a combination of a base policy and a super top-up policy.
