An advantage of buying group health insurance is that benefits can be significantly enhanced over a standard policy. One such benefit relates to pre-existing conditions. In this post, we examine the meaning of pre-existing conditions and how insurance companies cover them. We also look at how employers can offer employees a great deal of coverage […]
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Construction All Risk (CAR) Insurance policy
Q. What is Construction All Risk Insurance? A) Construction All Risk Insurance / Contractors’ All Risk covers civil construction projects such as residential and office buildings, hospitals, schools, theatres, roads, railways, bridges, tunnels, airports, dams, weirs, irrigation and drainage facilities, canals and ports. In addition the following will also be covered:- i. Preparatory work at […]
Buy health insurance early, get price benefit
Published in Mint on Jan 27 2016 The Insurance Regulatory and Development Authority of India (Irdai) released a draft exposure on health insurance regulations on 19 January 2016, seeking to make minor changes to the existing health insurance regulations of 2013. The draft is a result of the recommendations of the insurance committee that was […]
Why insurance claims get rejected
Published in Mint on 21 January 2016, Written by Kapil Mehta We buy insurance expecting claims to be paid and feel bitter when that does not happen. In an ideal world, insurers would communicate terms in easy-to-follow language; buyers would take the time to read about what they are buying; documents to file a claim […]
Insurance gets a new distribution avenue
Published in Mint on Oct 28 2015 To increase the distribution footprint of the insurance industry, the Insurance Regulatory and Development Authority of India (Irdai) has allowed a new type of distributor, called the point of sale (PoS) person. According to Irdai, this step is a part of its developmental agenda and it hopes that […]
Insurance: health over life
Published in Mint on Oct 18 2015 One of the joys of being a senior citizen is that your working days are behind you. This also means having working children and financial assets that make buying a life insurance policy unnecessary. However, what you need to consider seriously is a health insurance policy. Hospital bills […]
Blame the product design; not the insurance agent
Published in Mint on 15 August 2015, Written by Kapil Mehta I would not like to be an insurance agent. Research regularly reconfirms that it is one of the most looked-down upon professions in the US, Australia, the UK, most of Asia and India. A Gallup Inc. poll conducted in the US between 1977 and […]
5 advantages of insurance going digital
Published in Mint on Aug 03 2015. Advantages of insurance going digital. Digital insurance services offer convenience, choice and comparison. The financial services industry, including insurance, is also making efforts to tap this space. Life insurance, traditionally sold by agents, is available for online purchase, often at lower prices. According to a report by Boston […]
Why are life insurance policies abandoned midway?
Published in Mint on May 11 2015 What would you call a product that is sold for 15 years but discontinued after just five? What would you call an industry that is unable to keep customers holding on to a product that was sold for the long term but is stopped midway? In India, we’d […]
Why it’s important to have home insurance
Published in Mint on Apr 27 2015 Home is a name, a word, it is a strong one; stronger than magician ever spoke, or spirit ever answered to, in the strongest conjuration.” These lines belong to Charles Dickens, but are apt for all of us. Those who have suffered in the earthquake in Nepal and […]