With medical inflation hovering at around 13-14 per cent annually, policyholders must reassess their sum insured once every two years.
'Pick a sum insured that realistically covers major hospitalisation costs in your city.'
'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.'
'Buy early and review the sum insured regularly.'
'Combining individual or family policies with corporate cover, along with top-ups and wellness programmes, can help maintain strong health protection throughout life.'
'Having a separate healthcare corpus is extremely important even for those already covered by health insurance.'
These plans are suited for individuals and families with regular OPD needs -- those managing chronic illnesses and families with young children or elderly members.
Reduction of GST on health insurance premium from 18% to 0% looks like a straight 18% reduction in what consumers pay. The truth, however, is...
Banks offer a wide range of group insurance plans -- personal accident, health, hospital cash, home insurance, credit protection, and critical illness.
'As we get older, our health risks increase, and this makes health insurance significantly more expensive for seniors.'
'Go for a base cover of Rs 10 lakh and then buy a super top-up of Rs 90 lakh.'
Customers must sign the agreement promptly to avoid disruptions. They should read it thoroughly and understand their rights and obligations.
'Opt for a minimum cover of Rs 10 lakh to Rs 15 lakh, especially in urban and metro areas.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
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
The move is expected to stabilise yields, volatile in the recent past.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
Cardiac care plans are ideal for individuals with pre-existing heart conditions or a family history of heart issues. Those who can't get coverage under a comprehensive plan should opt for these plans.
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.
Consider a combination of a base policy and a super top-up policy.
Cardiac patients whose proposals for a regular health insurance plan get turned down should apply for a cardiac-specific plan.
Choose a higher sum insured if you are going on a long trip, and if your age is above 45.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
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.
Sanjib Jha, CEO, Coverfox Insurance Broking, lists 5 important things to look out for when buying a health insurance policy.
Most traditional health insurance plans didn't cover the cost of such treatments earlier, but several recently launched policies do offer such coverage -- some as a rider, and a few as standalone covers, points out Sarbajeet K Sen.
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
'Children should include their parents in the group health insurance cover provided by the employer at the earliest.' 'However, the elderly should not depend on it alone and should also buy a personal health cover,' suggests Sanjay Kumar Singh.
Read the fine print carefully because even a policy with a high sum assured may have sub-limits
While that may be easy, what is not easy is to buy the policy that is right for you
After all, when you are studying, it is better if all you have to worry about are your grades.
The insurance companies will use "green, orange, and red" colours to indicate the complexity of the products that are on offer.
Here are all the things you need to know so that you worry about nothing but your grades, says Mahavir Chopra. Read on!
Some of these plans will weigh on your pocket. The increase in premium could also be large as you grow older.
Annual premiums do not exceed what you readily shell out for an OTT subscription.
Group policies are more suitable for diabetics; these are negotiable & flexible.
Irdai has listed diseases that can't be excluded from health insurance policies, including neurodevelopmental disorders, mental illness problems, psychological disorders, genetic diseases, puberty- and menopause-related disorders.
The government would try to minimise layers in FDI ceilings.
Sanjay Kumar Singh draws up a mediclaim policy checklist.
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