Rakesh Kaul, CDO, Edelweiss General Insurance, answers your health insurance queries.
Two types of deductibles are associated with auto insurance -- compulsory and voluntary.
Irdai had introduced two Covid specific products in the market - Corona Kavach and Corona Rakshak - that saw huge acceptance among the consumers as these products had lower premiums.
By June 2025, financial freedom will be just an ATM away. Pleasantly surprised? But there's more, says Ramalingam Kalirajan
Regularly monitor your account for any suspicious activity. Keep your devices updated with the latest security patches to prevent vulnerabilities. Ensure the physical wallet you use is stored securely to avoid loss or theft.
The National Commission indicted LIC for working in cahoots with doctors for baseless certificates to repudiate claims and held this to be an unfair practice.
Some of these plans will weigh on your pocket. The increase in premium could also be large as you grow older.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
'A 25 year old buying a high-value policy now will be well covered even in his 40s.'
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.
Life insurers' new business premium (NBP) reported stellar performance in November after a poor showing in October, on the back of strong growth in group single premiums for both private insurers and Life Insurance Corporation (LIC) of India. In November, 24 life insurers, including LIC, reported NBP to the tune of Rs 27,177 crore, up 42 per cent year-on-year (YoY) from the year-ago period. Private insurers' NBP rose 58.63 per cent YoY to Rs 11,209.75 crore as group single premiums more than doubled during this period.
It is important to look at factors like claim settlement ratios, persistency ratios, the extent of premium increase with age, insurer's reputation, etc, says Vaidyanathan Ramani.
Payments can be made till April 21; for motor the relaxation is only for third-party insurance.
The family floater health insurance plan is designed keeping in mind the coverage requirements of the entire family. Feature wise, it's quite similar to an individual health plan. The key differentiator is the fact that it provides complete health coverage to the whole family
In the June quarter, growth in the segment stood at around 4 per cent, with premium collection at Rs 15,724 crore against Rs 15,074 crore in the same period of FY19. This was the lowest growth in the last five quarters, starting from Q1FY19.
It will allow more transparency in policies and flexibility in premium payment, besides improving processing of claims.
World Athletics also said that as far as it was aware, there were no longer insurance policies available for the coronavirus.
'Because it is the only public sector company in this sector, currently.'
Under the PMFBY - introduced in 2016 - farmers have to pay a maximum of 2 per cent of the sum insured for kharif and 1.5 per cent for rabi food and oilseed crops and 5 per cent for commercial/horticultural crops. Eighteen general insurance companies, including five public sector insurance firms, have been empanelled for the scheme's implementation.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Cost of the diagnostic test for Covid-19 has been fixed at Rs 4,500 per test by the government. Hospitals, however, do not think this is feasible.
Neeraj Prakash, MD, Shriram General Insurance, explains how new measures proposed in the Motor Vehicles Act can smoothen the lives of the insured and insurer and how the government plans to make more vehicles owners buy insurance.
This will help expand the distribution channels, said Subhash Chandra Khuntia, chairman of the insurance regulatory and development authority of India.
Considering the rising dengue cases, the affordability and availability of such a plan makes it worth buying, says Harjot Singh Narula
While Air India Express is expected to get the full insured amount for the hull loss, it will have to pay compensation to the kin of the deceased and injured, according to applicable laws. The compensation will be paid from its liability cover.
Flooding this monsoon underscores the need to buy home insurance, says Tarun Mathur.
Read the fine print carefully lest your claim gets rejected, advises Tarun Mathur.
Many insurers either do not cover consumables like PPE kits, gloves, etc at all or cover up to a certain limit, warns Amit Chhhabra.
Since no insurance companies share data on their claims with each other, the finance ministry and Irdai suspect that a lot of the resultant claims are duplicates.
Experts suggest that it's best to go for the bundled product that has only one-year own damage cover.
Given that medical inflation is estimated at 15% to 20%, a no-claim bonus can provide added benefit
Here's how to get more out of the premium you pay
Although the company has shown willingness to talk to its workers and accept their key demands, it is CITU that is causing a roadblock to a solution.
'The overall death claims have gone up.'
'It is difficult to write business internationally, without an 'A-' rating. It becomes more expensive.'
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
A combination of add-on insurance covers can be helpful in managing finances and making life much easier, says Dhirendra Mahyavanshi
The discount should be equal to interest rates on savings bank account deposit of State Bank of India.
Sharad Pawar reckons that the NCP has value as a united, going concern, not as a gaggle of leaders in search of followers, notes Shreekant Sambrani.
Life insurers need applicants to abstain from tobacco for up to five years.
