Irdai plugs gaps to reduce claim disputes on pre-existing illness

• Irdai has changed the definition of pre-existing diseases which may work in favour of the policyholders
• In 2019, Irdai defined pre-existing diseases through two clauses. It has removed the second one now

Best health plans for a sum insured of ₹20 lakh for 30 and 45 year olds

• Here is a comparison of top health insurance plans for different sum assured and across different age groups
• Only the A-rated health insurance plans have been shown here

Irdai says 'yet to get' proposal from LIC on IPO

• Insurance watchdog Irdai is yet to get any proposal from LIC on an initial public offering
• Irdai chairman S C Khuntia also asked insurance companies to 'weed out' loss-making products and concentrate only on the better paying ones

Damages due to short circuit fire not covered

Home insurance plans pay for fire damage occurring due to any reason. So, if the fire in your neighbour’s house spreads to your house, you would receive the claim

Irdai expresses concern over high hospital tariffs, plans to standardise charges

• IRDAI is also planning to come out with a common health policy 'Arogya Sanjeevani' with standardised terms and conditions
• The Insurance Regulatory and Development Authority of India is striving for standardisation of charges of medical procedures

Non-life insurers see 14.52% growth in gross premium underwritten in January

• The total premiums underwritten by the non-life insurers stood at Rs1.59 trillion
• Acko General Insurance Limited’s underwritten premiums surged over 200%

Best health plans for a sum insured of ₹20 lakh for 30 and 45 year olds

• Here is a comparison of top health insurance plans for different sum assured and across different age groups
• Only the A-rated health insurance plans have been shown here

Health insurance: Pre-existing diseases rules changed, to benefit policyholders

• IRDAI modified the existing definitions of pre-existing diseases
• All the insurers and third party administrators are advised to make the changes with immediate effect

It is possible to convert a term plan to an endowment plan after a few years

• However, generally, endowment plans have limited medical underwriting requirements in any case; so you may be okay without the conversion option
• A few health plans are convertible as well. These are generally top-up health plans, which can be converted into standard health policies

Govt to finalise merger of three PSU general insurers by March-end: Official

• Govt plans of merging National Insurance Co, United India Insurance Co & Oriental Insurance Co
• 'Merger of PSU general insurers is at an advanced stage. We can see that happening quite soon,' said Finance Secretary Rajiv Kumar

Daily payment for insurance policies: New proposal to promote micro-insurance

• There is also a requirement of waiver of stamp duty on micro-insurance plans especially for life insurance policies
• The panel has also made a case for 'goal based savings products' like those for child education or higher education

Do you need a professional indemnity policy?

• A professional indemnity policy covers legal liability or payment of defence costs, fees and expenses in case the client files a case against the insured professional
• Working professionals like doctors, surgeons, neurosurgeons, dentists, chartered accountants, engineers, architects, lawyers, and solicitors can avail such policy

Best health plans for a sum insured of ₹20 lakh for 30 and 45 year olds

• Here is a comparison of top health insurance plans for different sum assured and across different age groups
• Only the A-rated health insurance plans have been shown here

Soon get a floater motor policy, group health cover for friends

• Irdai approves 33 proposals for new-age and innovative insurance products under regulatory sandbox
• Irdai asks insurers to launch their products on a pilot basis with a cap of 50,000 policies between February and July

Opinion | Things to check before buying motor insurance

Service providers must share terms from all insurance companies

You needn’t buy car cover from a dealer

Compare the premiums and features before buying a motor plan

Slowing Indian economy weighs on insurance and reinsurance sectors: Moody’s

• India’s GDP growth weakened to its slowest rate in five years in the fiscal year ended March 2019
• According to the latest estimates by Indian statistics department, the economy will grow at 5% in the current fiscal ending in March

Coming soon: Floater motor insurance policies

• By choosing this policy, one shall entail benefits like premium leverage as multiple policies are not required to be bought and sum insured is optimized
• Other benefits include change of details for all policies at one go and continuous coverage

Non-life insurers log 12% rise in premium at ₹15,981 crore in Dec 2019

• As many as 34 non-life insurance companies had collected a total premium of ₹14,334.98 crore in the same month a year ago
• Seven stand-alone private sector health insurers collected ₹1,258.14 crore premium during the month, up by 16.3% from a year ago

Best health plans for a sum insured of ₹20 lakh for 30 and 45 year olds

• Here is a comparison of top health insurance plans for different sum assured and across different age groups
• Only the A-rated health insurance plans have been shown here