Insurance

You could consider buying sachet plans if you already have significant health, life and accident covers
The recommended best practices, common standards, collaborative measures and IT framework for effective healthcare through health insurance in India (Photo: iStock)
The recommended best practices, common standards, collaborative measures and IT framework for effective healthcare through health insurance in India (Photo: iStock)

NHA, IRDAI recommend measures for effective healthcare through health insurance

  • The report recommend to build a National Repository of Empanelled Hospitals under insurance/govt schemes with defined standards for quality, package rates and codes
  • The report also recommended developing a roadmap to get one common list of accredited verified hospitals for the entire industry

The move will discourage traffic rule violators and reward good driving behaviour
(Photo: Pradeep Gaur/Mint)
For the first category of eldest person being 30, the cover is for three people, two adults and one child (Photo: iStock)
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)
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 explained

  • A term plan is the only kind of life policy you need to have because it gives you a large cover for low cost
  • Read here to understand what determines your experience of buying a term insurance policy

Andrew Byrne, chief executive officer of Aegon Asia
 (Photo: iStock)
 (Photo: iStock)
According to the study 20% of the population does not have a health cover. (iStock)
 (Photo: iStock)
 (Photo: iStock)
(Photo: iStock)

Irdai sets up single point of contact for regulatory sandbox

  • Irdai has already invited applications for the sandbox from 15 September to 14 October 2019
  • The sandbox approach can be used to carve out a safe, conducive environment to experiment with innovative approaches, and where the consequences of failure, if any, can be contained

 (Photo: iStock)
(Photo: iStock)

Term plan premiums explained

  • A term plan is the only kind of life policy you need to have because it gives you a large cover for low cost
  • Read here to understand what determines your experience of buying a term insurance policy

 (Photo: Mint)
(Photo: Mint)

How to buy insurance policy online

  • If you are planning to buy a home insurance cover you need to check the premium and the coverage
  • You also need to evaluate the claim settlement ratio and inclusions such as fire, earthquake and burglary

 (Photo: iStock)
If your vehicle is submerged in water, do not try to clank or push start the engine. Instead, inform your insurer and let it tow the vehicle and examine the damage.
If your vehicle is submerged in water, do not try to clank or push start the engine. Instead, inform your insurer and let it tow the vehicle and examine the damage.

Insurers to initiate quick disposal of claims for flood victims

  • Insurers have been asked to fast track the claims settlement process by appointing nodal officers in the flood-hit regions and by setting up toll-free numbers
  • Policyholders must intimate the insurer about the loss immediately either by writing or calling on the toll-free number

What is insurance claim settlement ratio?

  • Claim settlement ratio is the ratio of the number of claims that the insurer has paid over the number of claims filed by the nominees during a particular period
  • It’s important for a customer to look into this number to get an idea of how efficiently and quickly the claims are processed by an insurer

Top health insurance plans

If you settle with the plan your agent sells or are happy knowing you have bought the cheapest plan, there is a bit of unlearning and a lot of learning in store for you

Photo: iStock
Photo: iStock

Term plan premiums

The claims settlement rate is measured by the benefit amount or the sum assured, as a lower settlement rate is indicative of high ticket-size policies being rejected