Photo: Mint

Life insurance policy rules will change from next year. All you need to know

1 min read . 12:13 PM IST Anulekha Ray

In case of unit-linked products, the revival period has been increased to three year
The mandatory guarantee on pension Ulip segment will become optional from February 1

Your health insurer can reject your claim for various reasons. (iStock)

Did your insurer pay up for that costly surgery?

5 min read . 09 Dec 2019 Ashwini Kumar Sharma

If you have all the clarifications and documents, you can request for reconsideration

You can opt for the desired coverage under one plan or multiple term plans. (Photo: iStock)

Disclose existing term plans to new insurer

2 min read . 09 Dec 2019 Abhishek Bondia

While opting for multiple term insurance plans, you need to disclose existing term plans that you have in your name
Insurers typically do not offer a term cover for more than 20 times a person’s annual income

ICICI Prudential Life Insurance is industry’s first term plan specifically designed for customers who find it difficult to get access to life cover. (iStockphoto)

ICICI Pru's new insurance plan covers diabetics, others with health conditions

3 min read . 07 Dec 2019 Anulekha Ray

ICICI Prudential's new life insurance plan is designed to benefit those who have existing medical conditions
Based on the protection the customer wants, ICICI Pru Precious Life offer two kinds of term cover — life option and life plus option

Photo: iStockphoto

Max India sells its stake in Max Bupa but policyholders needn't worry

1 min read . 03 Dec 2019 Tinesh Bhasin

Max Bupa Health Insurance Company Ltd. is a joint venture between Max India Limited and the UK-based healthcare services expert, Bupa
Any product change has to go through IRDAI for approval, for which, the regulator asks for justification

Life insurance is not about investing your money to earn a return on it, it’s about financial protection for your loved ones. (Photo: iStock)

Term plan premiums: A ready reckoner

1 min read . 02 Dec 2019 Livemint

A look at premium rates for some insurance policies of a sum assured of 1 crore across three age categories for policy terms of 30, 25 and 20 years
The claims settlement rate is measured by the value of the policies as a lower settlement rate is indicative of high ticket-size policies being rejected

Top trade negotiators for both countries also spoke again and agreed to continue working on the remaining issues

China wants US tariffs rolled back in phase one trade deal: Report

1 min read . 01 Dec 2019 Livemint

Beijing is insisting US tariffs must be rolled back as part of any phase one trade deal with Washington amid continued uncertainty on whether the two sides can strike a deal

Photo: iStock

The opportunity cost of state health insurance schemes

1 min read . 27 Nov 2019 Sneha Alexander

Higher spending on public health insurance schemes, without increasing overall healthcare budget, can sideline basic health care, suggests new research.

Some don’t consider it a necessity, some have too small a cover, while some depend only on the corporate cover that their employer provides (Photo: iStock)

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

1 min read . 26 Nov 2019 Livemint

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

Insurance providers can incentivize good driving habits by offering discounts on the premium (Photo: iStock)

Motor policies may soon reward careful driving

6 min read . 27 Nov 2019 Disha Sanghvi

New Irdai draft proposes technology to monitor driving that may help customize cost
Irdai suggests simpler method than the current one for the calculation of depreciation and the sum insured

Mayank Bathwal, Aditya Birla Health Insurance CEO

Consumers don’t see value because of the long list of exclusions: Mayank Bathwal

4 min read . 25 Nov 2019 Disha Sanghvi

Mayank Bathwal talks about how standardization of exclusions will impact business growth, whether the new regulations leave gaps for fraud and the need for integration to expedite the claims process

For family floater plans, insurers will have to disclose how the accrual and redemption of benefits will be considered (Photo: iStock)

Stay fit and pay less for your health insurance

6 min read . 20 Nov 2019 Disha Sanghvi

But premiums may go up when insurers start offering wellness benefits in products
Discounts on premiums and an increase in sum insured at the time of renewal have also been proposed

In health insurance, waiting period is the time after which claims related to pre-existing conditions cannot be rejected (Photo: iStock)

Insurance Street

Porting your insurance may be beneficial, but make sure you do it right

3 min read . 20 Nov 2019 Kapil Mehta

Close your previous policy only after the porting request is accepted by the new insurer

Some don’t consider it a necessity, some have too small a cover, while some depend only on the corporate cover that their employer provides (Photo: iStock)

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

1 min read . 19 Nov 2019 Livemint

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

Revising health insurance premiums is a complex process as it requires regulatory approvals (Pradeep Gaur/Mint)

Can health insurance premiums go up due to poor air quality?

3 min read . 19 Nov 2019 Disha Sanghvi

If pollution does not come under control, insurance companies may introduce specific policies, said experts
It takes about six to 9 months from the time an insurance company files for a change in premiums to actually reflect on the price chart

Photo: iStock

Home policy covers accidental damage

1 min read . 18 Nov 2019 Abhishek Bondia

If the damage to the walls is due to plumbing issues, which occurred over time due to lack of maintenance, then such damages would not be covered
As per a thumb rule, the sum assured should be at least 10 times your annual income

Life insurance is not about investing your money to earn a return on it, it’s about financial protection for your loved ones (Photo: iStock)

Term plan premiums: A ready reckoner

1 min read . 18 Nov 2019 Livemint

A look at premium rates for some insurance policies of a sum assured of 1 crore across three age categories for policy terms of 30, 25 and 20 years
The claims settlement rate is measured by the value of the policies as a lower settlement rate is indicative of high ticket-size policies being rejected

Once the discharge summary and hospital bills are sent to the insurer, it will scrutinize the bills before settling them (Mint)

When health insurance delays your hospital discharge

3 min read . 14 Nov 2019 Disha Sanghvi

Though pre-authorization has become quicker, claims settlement at the time of discharge could be a long and cumbersome process

Photo: iStock

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

1 min read . 13 Nov 2019 Livemint

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

Photo: iStock

Reliance Health policyholders need not worry

4 min read . 12 Nov 2019 Disha Sanghvi

Reliance General Insurance, to which all Reliance Health policies will be transferred, will take on the responsibility and settle all claims after 15 Nov
Existing policyholders can port their policies at the time of renewal to other insurers, including Reliance General

Insurance

Porting your insurance may be beneficial, but make sure you do it right

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