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Health Insurance is easy to buy and it is the most essential insurance cover one should buy. Before buying health cover, one should know the technicalities of how the coverage works and under what types of scenario, you can apply for a claim. In the case of hospitalization continuity beyond the insurance last date, the […]
You do not know what can happen tomorrow. Buying a health insurance policy without knowing the restrictions and exclusions is not a good move. Awareness of exclusions is equally important as of the scope of coverage. Health insurance manages your medical cost. But there are some treatments which health insurance does not cover. It is […]
TPA stands for Third Party Administrator. It is an intermediary company between an insured and insurer. It provides a supporting role to the insurer in terms of claim settlement. This body obtains a license from IRDA in order to function in the insurance industry. The third party administrator knows all the aspects of health insurance. […]
You can file multiple numbers of claims in a health insurance plan up to the limit of sum insured. The limit of sum insured is pre-specified and insured can get coverage up to that particular amount only. In the policy tenure, the unlimited number of claims can be covered depending upon the scope of coverage […]
When you start planning to buy an insurance protection for yourself and your family, health insurance is at the top of the list and the most necessary protection plan. It is important to buy a best-rated health insurance plan to save yourself from financial trouble arising due to health issues or emergency. Unforeseen circumstances can […]
An insured should renew their health insurance policy in time i.e. on or before the due date. It is important to keep an eye on the renewal date of a health insurance policy. If you miss out the renewal date, then the grace period is a saviour. Insurers provide an extended time frame for policy […]
Life insurance policy is a contract between you and your insurer under which, the insurance company provides a lump-sum payment, known as the death benefit, to beneficiaries upon the insured’s death. It acts as an income replacement for the family of the life assured. Life insurance caters to anyone that is financially dependant on you […]
Personal accident insurance provides financial support at the time of an unfortunate mishap. It is important to understand the coverage provided under this policy while buying the policy. Following are the standard coverage in a personal accident insurance: 1. Accidental Death: Death because of a car crash, slip or any other unfortunate accident is covered […]
Considering the popularity of alternative treatments in India, various health insurance companies have started offering AYUSH benefit to their policyholders. In its health regulation, 2013, the Insurance Regulatory and Development Authority of India (IRDAI) asked individual health insurance companies to include AYUSH, which stands for Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homeopathy, under their […]
No, a higher sum insured doesn’t mean you will get a higher claim settlement. There are some instances where a home insurance company can refuse to settle your claim even if you have a high sum insured or settle the lesser amount. Also, there are clauses like deductibles etc.; which you would have to pay […]