In today’s fast-paced life, irrespective of how hectic our schedules are, we should take the time to focus on our lifestyle choices that ultimately affect our health, especially heart health.
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Employer-offered group insurance policies don’t have waiting periods. This means your senior citizen parents, if they are enrolled here, are covered from Day 1. But a personal insurance policy is lifelong renewable, irrespective of your claim history. It doesn’t stop the day you leave your employer.
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The Commission observed that just because the appellant is the legal heir of his deceased father does not give him the right to receive the requested information.
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Life insurance rule: One should opt for a life insurance that offers minimum sum assured to the tune of 8 to 10 times one's annual income.
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With the rise in health emergencies and increase in medical costs, an OPD cover that pays for non-hospitalisation-related medical expenses, can prove to be a valuable addition to your health insurance plan.
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Cancer plans are defined benefit plans that cover various type of cancer. These plans provide better coverage and features as compared to a critical illness plan.
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The sole aim of taking a health insurance plan is either to avail the benefit of cashless hospitalisation or to get the amount paid during hospitalisation reimbursed.
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Don’t expect leniency from your insurance company on pre-existing disease disclosures at policy renewal. Consider porting to a new insurer after declaring your health conditions.
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Like the NPS, LIC’s New Pension Plus (NPP) also has different investment funds, from which a policyholder has to choose the one that would best suit him/her.
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In order to do so, one needs to make sure that he or she shares details about any existing policy while buying another health insurance.
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The claim settlement ratio of private insurers was 97.02% in 2020-21 as compared with 97.18% in 2019-20.
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If you have one insurance policy provided by your employer and another as a personal cover, it’s best to use the office-provided cover first. That’s the easier of the two to claim reimbursements from.
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The Life Insurance Corporation (LIC) of India has introduced New Pension Plan (NPP) – a non-participating, unit linked, individual pension plan – that may be used by individuals to build corpus by systematic and disciplined savings, which can be converted into regular income as annuity on retirement or even as early as 35 years of age.
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Don’t just get attracted to an optically large figure of Rs 1 crore for a health insurance cover. Before purchasing such a policy, make sure you have understood its limitations well.
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It is imperative to understand each and every clause in the health insurance policy in order to take an informed decision. One such clause in health insurance is co-payment.
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When medical expenses have been skyrocketing, it is indispensable for policy holders to opt for medical insurance policies of an optimum amount. Even this won’t suffice. A medical insurance policy could fall short of the actual medical expenses in case of a serious illness known as ‘critical illness’ in the context of insurance.
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Buying a term plan under MWP is important as the proceeds of the policy will only go to the beneficiaries and no one else.
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Insurers give an option to policyholders to customise their term and health insurance cover with add-ons, also known as ‘riders,’ based on specific needs and requirements of the policyholders.
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