Group medical insurance plans offered by a company as the employer provide financial protection against healthcare contingencies to the employees. In some companies, the coverage extends to the families of the employees. Group medical insurance policies are attractive benefits, the employer offers to employees. Key Takeaways The “50-Employee” Threshold: In 2026, the law is clear: […]
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Reasons why group health insurance cheaper than individual health insurance
Group health insurance plans usually offered by the employer are usually cheaper than an individual health insurance plan. Though each of these plans comes with its own benefits and exclusions, group mediclaim insurance plans are more cost-effective than health insurance plans for an individual, for various reasons. Key Takeaways The Power of Risk Pooling: Group […]
Why is a Workman Compensation Insurance policy compulsory?
Employees in high-risk businesses may experience work-related health issues and accidents. The Workman Compensation Act, 1923, addresses concerns about lost income and healthcare costs in such cases. Also, renamed the act as Employees Compensation Act, 1923. As per the rules in the Workmen Compensation Act, workers who get injured at work or experience certain work-related […]
Look at costs when index-linked insurance products are revived
Published in Livemint The Insurance Regulatory and Development Authority of India (Irdai) stated in a circular last week the formation of a working group to examine various aspects of index-linked insurance products (Ilips) that may be offered by life insurers. Ilips are not new in life insurance companies’ arsenal. Before 2013—when the regulator banned the […]
Should You Buy Corona Kavach Policy For Your Existing Health Insurance?
Published in Femina Are you thinking of increasing your medical insurance coverage due to the coronavirus pandemic? If so, those with existing health insurance can look at two options: Buying a Corona Kavach policy or taking a super top-up/top-up plan for their existing health insurance. Here’s a look at some of the advantages and disadvantages […]
Max Healthcare hospitals de-empanel Max Bupa Health Insurance
Published in Livemint. Max Healthcare has de-empanelled Max Bupa Health Insurance Co. Ltd from its chain of hospitals, leaving policyholders in a fix as they will not be able to avail the cashless claims facility. Max Bupa is a joint venture between True North, an Indian private equity firm and UK-based healthcare services firm Bupa. […]
Does Only specific health insurance policies cover covid-19 vaccine
Published in Livemint. If you are worried that the vaccine for covid-19 may burn a hole in your pocket and think that your health insurance policy will come to the rescue, you could be mistaken. Note that only specific health insurance policies will cover the cost for the covid-19 vaccines. Oxford-AstraZeneca, a covid-19 vaccine for […]
How much does it cost to get worker’s compensation insurance?
Providing safety at work is an important responsibility of any employer or organization. In case of a worker suffers from injuries or accidents while on duty, the employer becomes legally responsible to compensate the wage loss. The policy also covers medical expenses arising out of injuries caused to the worker as per the Employee’s Compensation […]
Moratorium effect: Life insurers can now extend tenure of home loan insurance policies
Published in Forbes India Home loan borrowers who have opted for the loan moratorium allowed by the Reserve Bank of India (RBI) can now expect relief on their home loan insurance tenure too. The Insurance Regulatory and Development Authority of India (IRDAI) has permitted insurers to increase the sum assured and policy tenure for such […]
Insurance companies to offer standard covid-19 health policies from 10 July
Published in Livemint. After much deliberation, the Insurance Regulatory and Development Authority of India (Irdai) on Friday published the guidelines for the covid-19 standard benefit-based and the covid-19 standard indemnity health policies. All life, general and standalone health insurance companies have been encouraged to offer the benefit-based policy, while all health and general insurance companies […]