Published in Livemint. Last week, the Insurance Regulatory and Development Authority of India (Irdai) formed a committee to look into the feasibility of allowing life insurers to sell indemnity health plans. The payout from these plans is limited to the expenses incurred up to a predetermined sum insured. Irdai had first allowed them to sell […]
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How is life insurance premium calculated?
Published in Economic Times. The premium that you have to pay for a life insurance policy depends on various factors like age, total coverage (sum assured), your medical history, gender, lifestyle, and job. However, the premium for the same life insurance coverage amount will vary from insurer to insurer. What is life insurance and why […]
This indemnity-based coronavirus health insurance covers PPE cost. Should you buy?
Published in Economic Times The Insurance Regulatory and Development Authority of India (IRDAI) has directed all general and health insurance companies to mandatorily offer a Covid-19 standard health insurance policy by July 10, 2020. This will be a standard health insurance policy for individuals and families which will provide coverage of up to Rs 5 […]
Religare sells stake in its health insurance business
Published in Mint, on 13th April 2017 Religare Enterprises Ltd, on 9 April announced the sale of its 80% stake in Religare Health Insurance Co. Ltd (a standalone health insurance company), to a consortium of investors led by True North, a private equity firm. Religare will get about Rs1,040 crore for the deal and the […]
When COVID-19 vaccines become available, will your health policy pay for them?
Published in Money Control. The world is waiting with bated breath for a vaccine that will finally end the scourge of the novel Corona Virus Disease (COVID-19) that has wreaked havoc on lives and economies globally. It certainly seems to be on its way – sooner than originally expected – but will entail substantial cost, […]
Explainer| The third party administrator in health insurance
Published in Moneycontrol. Recently, the Insurance Regulatory Development Authority of India (IRDAI) allowed health insurance policy holders to choose their third party administrator (TPA) while buying the cover or at the time of renewal. This move empowers the consumer and, at the same time, underlines the importance of the TPA in the process of claims […]
Your insurance may not pay for significant part of hospital treatment for coronavirus
Published in Economic Times A mediclaim-type health insurance policy generally does not cover the cost of most consumables used in the treatment of a disease or condition in a hospital. In a pre-coronavirus world, that was not a big problem. However, that is not the case now. The number and cost of consumables used in […]
As insurance payouts rise, so could your premiums
Published in Mint, on 10th April 2017 From this financial year, your insurance agent is eligible to get a higher payout for selling you a policy, but did you know that this may increase your premium as well? Last month, the Insurance Regulatory and Development Authority of India (Irdai) in a series of circulars has […]
Should you consider protecting your business with cyber insurance?
Published in Cafemutual on 7th April,2017 With the increase in online transactions and use of technology to manage confidential data comes the risk of cyber threats underlining the need of having cyber insurance policies. So, it is not surprising that companies and individuals with technology related operations and large quantity of customer data are now […]
Life insurers are settling more claims
Published in Mint on Feb 02 2015 According to the latest annual report published by the Insurance Regulatory Development Authority of India (Irdai), life insurance companies have done a better job of settling death claims in financial year (FY) 2014 than in FY13. In terms of the number of policies settled, 12 life insurance companies […]