Quick Summary Table Feature Previous State (Pre-2025 Regulations) New State (Post-2025 Regulations) Portability Often challenging or limited Mandated seamless portability for individual covers upon exit Standardization of Terms Varied definitions across insurers Standardized definitions for common medical terms and procedures Claim Settlement Timelines Varied, sometimes protracted Stricter, transparent timelines for claim processing and payout Transparency […]
What is Usage-Based Insurance, and How Does It Work?
Usage-Based Insurance (UBI) is a new type of auto insurance. In this model, premiums depend on real driving behavior, not just traditional risk factors. Also called pay-as-you-drive (PAYD) or pay-how-you-drive (PHYD), UBI uses telematics. It tracks data like: Distance traveled Driving speed and acceleration Braking patterns Time and location of driving By leveraging real-time driving […]
How to Save Money When Buying Insurance?
Insurance is a vital financial tool that provides peace of mind and protection against unexpected events. Be it any insurance type, it is essential to save money on insurance, as it helps you balance financial protection and affordability. Saving money when purchasing insurance involves understanding your needs, researching, and exploring options to reduce premiums. Saving […]
5 Common Mistakes When Buying Insurance and How to Avoid Them
Choosing the right insurance coverage is crucial to staying adequately protected when an unexpected event occurs. However, buying the right coverage can be daunting, considering the plethora of options available. A wrong policy can leave you underinsured and put you in financial distress in a time of need. Hence, it is important to avoid certain […]
How Does Group Health Insurance Vary in Different States or Cities?
Group health insurance plans shield the employees, the most valued assets of the organization. Though most group insurance plans provide comprehensive coverage at a relatively lower cost, the policy can vary significantly depending on the state or city in India. State or city healthcare infrastructure, cost, local regulations, and industry competition can play a major […]
What Are the Benefits of Using a GHI Calculator?
Group health insurance is important for companies to protect their employees’ well-being and give them affordable and comprehensive health insurance coverage. It helps them retain employees, attract new talent, and improve business profitability with a healthy and efficient workforce. Businesses can customise the coverage according to their needs, optimising employee satisfaction and insurance costs. Making […]
Reasons why group health insurance cheaper than individual health insurance
Group health insurance plans, often extended by employers to their workforce, present a more budget-friendly alternative compared to individual health insurance plans. While both avenues boast distinct benefits and limitations, the cost-effectiveness of group mediclaim insurance plans stems from various factors. Risk Pooling Dynamics: A Collective Shield One of the primary reasons behind the economic […]
Group Health Insurance Plans for self-employed
Self-employment offers individuals in India the freedom and flexibility to pursue their professional aspirations. However, being self-employed also means shouldering the responsibility of securing one’s own health and financial well-being. Considering this, group health insurance policy for self-employed individuals has emerged as a valuable solution, providing comprehensive coverage and peace of mind. Therefore, this article […]
Group Health Insurance Plans for Bank Account Holders
Bank account holders in India often seek ways to secure their financial well-being and protect themselves and their families from unforeseen medical expenses. In response to this need, group health insurance has emerged as a valuable offering, providing comprehensive coverage and peace of mind. This article aims to shed light on the benefits, eligibility criteria, […]
Advantage of Buying Student Safety Insurance Under Educational Institutions Insurance
Student Safety Insurance for Educational Institutions is a type of insurance that provides coverage for students who are injured while attending school or participating in school-related activities. This type of insurance is designed to protect educational institutions from potential lawsuits and financial losses that may result from accidents or injuries that occur on school property […]