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Renewed interest in covid-specific insurance plans with surge in infections

There has been a surge in covid cases in neighbouring countries, leading to increased concern about masks, vaccines, and covid-specific insurance plans. However, covid-specific plans address this perception. The fact that most households have had at least one member affected by covid, makes it a more likely event. Furthermore, the risk of covid is imminent, […]

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Do I need regular health policy if I have a critical illness cover?

A critical illness plan is a fixed benefit plan. Under this plan, you are eligible for the prefixed sum assured once the diagnosis of the specified illness is confirmed. Since it is not an indemnity plan, the actual expenses incurred by the policyholder are irrelevant. However, a critical illness plan is not a substitute for […]

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Ways to ask for customization in your group health insurance policy

Almost all multi-national corporations (MNCs) offer group health insurance to their employees. Among Indian firms, more than 90 percent of the large firms offer this employee benefit. What was earlier a differentiating factor for employers to attract talent, has now become a standard benefit that employees expect as they seek to join a company. That’s why employers […]

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The ignored need of insurance by small businesses

As I was thinking about topics for this column, I was in two minds whether to write about the need for insurance for small businesses or not. It is not a very popular topic. The next morning, I read about the fire incident at the Bhagirath Palace at Chandni Chowk, Delhi. More than 120 shops […]

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Types of Group Health Insurance Policy in India

Insurance is an important component of your employee benefits packages. More employees today have access to group insurance plans which cover medical, dental and vision expenses as well as life insurance for their families. Insuring your employees takes planning. However, there are several types of plans to choose from when deciding how best to cover […]

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What is vector-borne illness insurance?

With monsoons around the corner, there are a host of illnesses that are lurking around. It is that time of the year, when a runny nose, possibly a migraine cold/cough and every other sign of influenza become unavoidable. There are other specific illnesses which occur during the monsoon. The possibility of medical expenses during the […]

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Get to know about the tax implications of group health insurance

If you are a part of a group and the group has opted for the group health insurance scheme; you should know of the tax implications and benefits of the same. A group health insurance policy is popular amongst registered groups, especially employer-employee groups. This is because of the following reasons – The group health […]

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Illustrate 15 add-on coverage available under the GPA policy?

You can custom design the GPA policy by choosing from any of the following add-ons illustrated below –   Accidental Medical Expenses (AME) – Covers medical expenses incurred in the treatment of the injury caused due to an accident. Most insurers provide AME on an IPD basis, i.e. covering the cost of hospitalization only as […]

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I am offered an option between choosing a Public Sector (PSU) or a private insurer for my group health insurance. How do I decide? What are the benefits I can enjoy if I choose either type of insurer?

There are unique benefits to choosing either type of group health insurer. A few private insurers provide faster claim settlements as compared to PSUs. However, PSUs offer GIPSA (General Insurance Public Sector Association) packages through PPN-listed hospitals which brings in a greater rationalization of the claims cost structure in billing. Standardized packages and rates safeguard […]

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