A recent survey by Local circles has mentioned that health insurance premiums have increased by 25% in the last 12 months as reported by the participant health insurance policyholders. This drastic increase in premiums could be traced back to 2022, a period when insurance companies faced huge losses due to Covid-19 claim settlements and heavily […]
Read MoreAlthough most of us understand the need and relevance of a Health insurance policy in this century, we might still not have a clear understanding of how to plan the sum insured for our policy. One might argue that the sum insured in a health insurance plan should be chosen based on individual requirements, but […]
Read MoreThe goal of Universal Health Coverage (UHC), which aims to guarantee that all people and communities receive the health care they require without experiencing financial hardship, has become a global priority. This study compares India’s approach with other nations to see whether universal health care can be implemented. It explores the difficulties and possibilities involved […]
Read MoreSummer is here and the mercury levels are rising with every passing day. Hyderabad has recorded the highest temperature of 44.2° C in May,2024 and it is further expected to increase in this May. One can find the streets and roads deserted in the afternoon when the intensity of the sun is at its peak. […]
Read MoreAbhay Kapoor, 45, was surprised when he saw a mail in his inbox from HDFC Ergo stating that his health insurance plan “My Health Suraksha” is being withdrawn from the market and he has an option to migrate to “Optima Restore”. Abhay immediately dialed up his agent and was informed that the policy has been […]
Read MoreThe latest report from Pristyn Care highlights that 5 out of 10 patients face hospital discharge delays due to the time taken by the cashless claim settlement process in a health insurance plan. The study also points out that 40% of the delays are attributed to the administrative process in the hospitals. The major challenges […]
Read MoreMrs Anuradha, aged 30, married with two kids, working at an MNC, was admitted to a hospital for nerve-related issues. Upon diagnosis, it was found that she had brain tumours that had to be operated on immediately. Anuradha has a personal health insurance plan for Rs.5 Lakhs from XYZ company and a group health insurance policy provided by her […]
Read MoreGroup health insurance compensates the employees in case of hospitalization due to illness or accident. Group health insurance would be given to a group for which the premium would be paid by the employer of the group. Group health insurance is usually taken by employers to cover their employees as a part of employee benefits. […]
Read MoreIt is widely believed that people who consume tobacco and other related products would not get any life and health insurance coverage from insurance companies. This was the case a few years ago where the insurance companies used to deny insurance cover for people consuming tobacco and other related products. Insurance companies do offer health […]
Read MoreWhat could be the worst situation other than getting your health insurance claim rejected when you are admitted to a hospital? Yes, such situations are not uncommon in the insurance industry and happen very frequently with policyholders. While the reasons for claim rejection could be many, some include wrong declarations made in the proposal form, pre-existing and other waiting […]
Read MoreTravel is one of the ways of relieving stress and exploring different parts of the World. Many people turn to travel when they are stressed or when they need leisure, and some even travel to different places for work-related purposes. Recently, we have a new set of people who travel around the World, document their memories, and share […]
Read MoreMost of us might have seen the recent news of TVS group foraying into the health insurance industry in India. Currently, there are 5 standalone health insurance companies in India offering only health insurance plans in addition to the nearly 33 general insurance companies offering health insurance plans as a part of their portfolio. On top of […]
Read MoreMost of us buy a health insurance policy to come in handy in case of hospitalization, as the policy would pay our expenses. We buy a health insurance policy thinking that we should not use it, but it might happen that we should sometimes use it. This is the moment of truth that you had been waiting […]
Read MoreMany of you have seen IRDA’s recent circular stating that from April 1, 2024, insurance companies are not required to follow the entry age limit of 65 years for health insurance plans. This has created a buzz among the general public, especially senior citizens. Many news channels have published news that from now on, there would not be any upper […]
Read MoreInsurance penetration in India decreased to 4% in FY-23 compared to 4.2% in FY-22, whereas the global insurance penetration stood at 6.8%. On the other hand, the insurance density, measured as the ratio of premiums collected to the total population, increased from $91 in FY22 to $92 in FY23. This could be attributed to various factors such as Covid-19, […]
Read MoreThe Current Landscape of Health Insurance The landscape of health insurance is undergoing significant transformation, shaped by evolving demographics, rising healthcare costs, and technological advances. With an ageing population and increasing prevalence of chronic diseases, there’s a growing demand for accessible and affordable healthcare coverage. Furthermore, regulatory changes and market factors push insurers to reinvent […]
Read MoreAssume, you were admitted to the hospital due to an accident and at the time of admission you have submitted your health insurance card at the hospital. But, you were shocked to see a rejection mail from the insurance company regarding your claim. Now the entire burden of claim payment has fallen on you as […]
Read MoreAI’s impact on health insurance has been profound. From its beginnings as an automaton for repetitive tasks to its current use in personalised risk assessments and proactive healthcare efforts, AI has positioned itself as a key component in modern operations. Insurers can now offer customised insurance plans, more effectively detect fraud, and predict individual health […]
Read MoreIt’s an acknowledged fact that hiring for a start-up is a challenge that every entrepreneur’s (especially first-time ones’) headache is centered around. Attracting a settled and performing individual to leave all behind and jump ship (more like jump ship to the boat) is hard enough. Fortunately, there are means and instruments, such as group health […]
Read MoreThe World is experiencing rapid changes in the medical field which is contributing to the increased life expectancy. On the other hand, modernization, changing lifestyle and industrialization is leading to new challenges which is increasing the chance of suffering from multiple conditions. Most of the conditions we have today were very common in our previous […]
Read MoreAditya Birla Health Insurance- Activ Secure- Cancer Secure Plan: Key Highlights: All 3 stages of cancer are covered- Early, Major and Advanced stages. Coverage for up to 150% of the sum insured 10% cumulative bonus for every claim free year Sum Insured Options: Rs. 5 Lakhs to Rs. 1 Crore Cancer Care Cover: Early : […]
Read MoreObesity is a condition characterized by an increase in the size and amount of fat in the body. The World Health Organization has recognized obesity as a disease and also by several other multinational organizations. According to WHO, obesity is a major risk factor for noncommunicable diseases such as heart disease, stroke, type 2 diabetes, […]
Read MoreHave you thought about the disease “Diabetes”? Do you know that there are separate and comprehensive health insurance for diabetic patients? The most common disease these days is diabetes in India which has become common after you cross 40 years of age. If we go back a decade or two, the common age of diabetes […]
Read MoreHealth insurance is the most sought after insurance product in the Indian market and the demand for health insurance has increased after the Covid-19 pandemic. The ever rising hospitalization expenses have also made people think about taking a health insurance plan as one hospitalization can push a middle class family to poverty. Keeping the hospitalization […]
Read MoreHoli is one of the major festivals celebrated in India which symbolizes the victory of good over evil. Holi is celebrated at the start of the spring after a long cold winter in all parts of the country. Holi is celebrated in various forms among various groups of people. There are many poems documenting the […]
Read MoreHealth insurance is a comprehensive policy that carries many benefits that are to be utilized to their full potential to get the maximum benefits out of it. Gone are those days when health insurance plans used to cover only hospitalization expenses such as room rent, surgery costs, surgeon fees, anesthesia fees, etc. Earlier, there used […]
Read MoreBeing hospitalised can be a stressful experience, and navigating the complexities of health insurance claims can add to the burden. This blog post aims to address a common concern: can a preliminary note made during hospitalisation impact your health insurance claim settlement? Real-Life Insurance Case Study: Insightful Takeaways for Providers and Policyholders Understanding the Case: […]
Read MorePreventive-care health insurance plans are gaining traction in the market as they encompass a wide range of services targeted at preventing illnesses or detecting them very early so that they can be acted upon effectively. As the saying goes, “Prevention is better than cure.” The adage not only suits health insurance plans but also has […]
Read MoreIn the fast-paced and competitive work environment of India, where employees often spend extended hours at their workplace, the importance of mental health support cannot be overstated. Employee Assistance Programs (EAP) that include mental health counselling are essential for maintaining a healthy, productive, and harmonious workplace. Let’s explores the significance of EAP-Mental Health Counseling, backed […]
Read MoreIndia’s healthcare system, while vast, faces challenges like affordability, accessibility, and efficiency. Artificial intelligence (AI) emerges as a potential game-changer, transforming the health insurance landscape in exciting ways. From fraud detection to personalized medicine, let’s explore how AI is reshaping the industry: Smarter and Faster Underwriting Niva Bupa, one of the larger Stand Alone Health […]
Read MoreIn a major reform for the healthcare industry in India, general and health insurance companies have come together to launch a revolutionary initiative called “Cashless Everywhere.” This initiative aims to transform the way medical claims are settled by allowing policyholders to get cashless treatment at any hospital they choose, regardless of whether the hospital is […]
Read MoreGroup term insurance usually refers to the term life insurance plan offered to members. Companies take group term insurance plans to cover their employees under a single policy. The policy is designed to provide financial compensation to the family of the nominee of the insured employee in case of his/her untimely death. The group term […]
Read MoreThe commercialisation of health care is a burning agenda today. There is no regulation on hospitals and hence we don’t have anything like MRP or say standard rates for hospital procedures. Negotiating with the art of negotiation under the assumption that there is no medical insurance.
Read MorePersonal health insurance was seen as a product that should be purchased at the time of illness, and people used to wait for a certain period of time before taking a personal health insurance policy. It is detrimental to wait before taking the personal health insurance policy as it can have many mental and financial […]
Read MoreGroup Health Insurance Group health insurance for large companies can be an essential element of their employee benefits package and would benefit employees tremendously. Such policies cover hospitalization expenses incurred during an accident, illness or disease covered under their policy period – this ensures no surprise bills. Group health insurance premiums may be paid either […]
Read MoreInsurance in India was introduced by the establishment of the Oriental Life Insurance Company in Calcutta in the year 1818. The first insurance company was regulated by the British and was according to British laws. In the years following India’s independence, an insurance regulator and Development Authority for India (IRDAI) was set up to manage […]
Read MoreThe most important part of the insurance utilization process is claim settlement. Claim settlement can be considered as the last stage in the process and is the core stage for which the policy is taken. Health insurance claim settlement arises once the patient is hospitalized due to an accident, disease, or illness. Health insurance claim […]
Read MoreMany people think of life insurance when they hear the word insurance. That was the kind of impact life insurance has created on people, but in reality, life insurance is not the only insurance available in the market. Insurance can be life or non-life. Life insurance covers the life of individuals against death, whereas general […]
Read MoreGroup health insurance is a customized policy that can be designed per the insured customer’s needs and requirements. Still, the offerings vary from one insurance company to another. For instance, one insurance company might cover the robotic treatments, whereas the others might have it under exclusions. The basic covers such as sum insured, in-patient/out-patient/daycare hospitalization […]
Read MoreWhat is Travel Insurance? If you have a health insurance policy in India, you could claim for any hospitalization anywhere in India, but while travelling abroad, the same policy might not cover everything. Then, taking a travel insurance plan that could cover all your medical expenses in a foreign location would be advisable. The other […]
Read MoreBusinesses would often be confused when deciding the health insurance for their employees. It would be difficult to decide whether to go with group health insurance or individual health insurance. Group health insurance has certain benefits, such as customization of policy, one policy for all, no sub-limits, no co-payments, no restriction on the number of […]
Read MoreCustomers should explore many hidden benefits in personal health insurance plans to avail of benefits during the policy period. These benefits would be hidden in plain sight for the customers, and most would not pay heed to these benefits in the first instance. Insurance intermediaries would also not explain these benefits to the customer while […]
Read MoreGroup health insurance increases employee wellness and productivity to a certain extent while keeping the other factors constant. Employee productivity cannot be measured directly as it involves many factors contributing to an employee’s productivity. These factors could be organizational culture, perks and salary benefits, job role, team cohesion, reporting supervisor, and employee benefits such as […]
Read MorePersonal Health Insurance The personal health insurance policy, which is also referred to as retail health insurance or individual health insurance, pays for medical expenses of an insured client because of an accident, sickness, or illness in excess of the sum insured maximum in exchange of a small fee. The insured customer would completely own […]
Read MoreThe Government of India’s Insurance Regulatory Development Authority decides the insurance agent’s and insurance broker’s commission structure in India. The maximum commission in the general insurance business is paid in the motor insurance segment, whereas the minimum is paid in the group health insurance segment. IRDAI has set a cap on the commission payable under […]
Read MoreRetirement refers to when one leaves an active profession and working life behind, often after age 60 or when no longer capable of work. People generally retire due to various reasons, including health conditions, relaxation, or aging in general – such as retiring due to incapacity. People typically enjoy peaceful retirements to focus on maintaining […]
Read MoreWords like Claim settlement ratio and incurred claims ratio are frequently used in the health insurance industry. Claim settlement ratio is considered as a sign of trust on the insurance company when it comes to settling the claims, claim settlement ratio was used as a USP until recently to sell the insurance. Claim settlement ratio […]
Read MoreGroup health insurance has several benefits, such as health insurance coverage in case of accidents, illness or diseases, daily cash benefits, coverage of organ donor expenses etc. In addition to these basic benefits, a group health insurance policy would also provide an additional advantage to the employers in the form of increased employee retention, new […]
Read MoreThe most trusted health insurance company in India by 2023 will be the one that can offer top health insurance plans with more hospitals in the network, the highest rate of settlement for claims, the most efficient customer services, and an easy claim settlement. The best health insurance is the policy that provides the best […]
Read MoreToday, any minor surgery can cost you anywhere between 2-5 Lakh Rupees. Health inflation in India is rising at about 14% per annum. If you are a white-collar worker, your salary hike might have been lower than 14% per annum, especially over the last few years. Without basic health insurance, it is increasingly difficult for […]
Read MoreEmployee recognition is the appropriate cognisance of an employee’s contributions that improve an organisation’s business. Recognising employees is an important part of human resources development as it would improve the performance and productivity of the employees. Employees are usually recognised when they achieve their goals or over-achieve the goals set by their organisation. Employee recognition […]
Read MoreExercise should be part of our everyday lives and should never be overlooked. The impactful presence of regular physical exercise must be considered. There have been negligible moments in our daily life due to the work-from-home scenarios, leading to several non-communicable diseases. To avoid this, employees working from home or office can practice these simple […]
Read MorePersonal health insurance misconceptions are common among people intending to purchase health insurance. Misconceptions about personal health insurance could be due to various reasons like the influence of past events or bad experiences with the insurance provider. Such events create a strong negative feeling towards personal health insurance and prevent you from buying a policy. […]
Read MoreGroup Health Insurance The group health insurance policy is intended to pay for the medical costs of the insured in cases that they require hospitalization because of injuries, illness, or ailment within the period of the policy. You are covered up to your sum insured mentioned under the policy. Group health insurance is usually taken […]
Read MoreWhat is Blacklisting of Hospitals in the Insurance Industry? Blacklisting is placing a hospital in a position where there would be no further dealing with it in any case. Once blacklisted, Insurers do not empanel or engage with such hospitals. Customers should consult their insurance companies before making a claim. They should ensure their preferred […]
Read MoreA personal health insurance policy is typically used to pay for the costs of medical treatment for the insured if they are hospitalized due to illnesses or accidents. But other benefits can be derived from personal health insurance plans that are unknown to many users. Health insurance plans come with many benefits, some of which […]
Read MoreThere are numerous costs involved in conducting business in India. These include startup costs, sunk costs, and employee expenditures such as salaries, employee benefits etc. The major costs apart from the initial investment would be the operational and employee benefits costs. Any business would like to reduce its costs in one way or the other […]
Read MoreGroup health insurance covers the hospitalization expenses of the insured members in case of illness, disease or an accident up to the sum insured limit mentioned under the plan. In addition to basic hospitalization, the policy also covers daycare expenses, expenses incurred on alternative treatments, organ donor expenses, outpatient expenses etc. These benefits are advertised […]
Read MoreGroup Health Insurance covers the medical expenses of the insured members up to the sum insured mentioned under the plan in return for a premium amount that the insured customer pays. Group health insurance can be classified as employee-employer and non-employee-employer. Most group health insurance plans belong to the employee-employer segment, where the employer would […]
Read MoreWhen a person is hospitalised as a result of an accident or illness, personal health insurance can be helpful. Personal health insurance policy can be purchased for oneself as well as someone you have an insurable interest in. Insurable interest in simple terms is your interest in the person you are insuring. You can therefore […]
Read MoreEver wondered how Insurers cost their Persona Health Insurance Products? While many statistics and related sciences are used. Let us Understand Some Factors Behind Deciding Premiums. Age: Age is an important factor in deciding the health insurance premium. All insurance corporations base their top rate calculations on the age of the eldest member within the […]
Read MorePersonal Health Insurance Covid -19 has accentuated the need to have health insurance. Health insurance not only gives financial stability to the policyholder by safeguarding their hard-earned money, but also protects the policyholder’s monies, which she would have otherwise had to bear due to hospitalization. Personal health insurance also known as retail health insurance can […]
Read MoreA group health insurance policy covers a group of people under a single policy removing the need to take individual policies, in simple words group health insurance policy is a master policy which has the details of all the insured members. It is beneficial for customers to take group health insurance from an insurance broker […]
Read MoreInsurance involves a lot of technical terms that a layperson may not be aware of. However, it is important to be familiar with these terms as it helps you to understand the terms and conditions of a health insurance policy. Further, it helps to choose the right insurance policy for your needs. We’ve covered some […]
Read MoreThe past few centuries have witnessed great strides in medical science with revolutionary medical breakthroughs. Be it the invention of vaccines and antibiotics or the more recent developments in artificial intelligence, advancements in the field of medicine have not only increased life expectancy but also helped improve the overall quality of human life. Organ transplantation […]
Read More1. Aditya Birla – Activ Health Platinum Enriched Insurance Plan: i) Coverage: The policy will cover the costs incurred for medically necessary consultations, diagnostic tests, and pharmacy expenses on an outpatient basis up to the amount specified under the policy. The appointments can be scheduled through the website or through the mobile application or call […]
Read MoreTime and again IRDA, the Regulator of the Insurance sector, has had to come down with a heavy hand to protect the Consumer (Insured) from getting entangled in a web of complexities that the consumer should ideally not have to contend with. Some time back, it had to intervene, to ask insurers to review claims […]
Read MoreImagine you are a healthy adult of forty. You exercise regularly, and work hard towards maintaining a healthy lifestyle, despite your demanding work schedule. Do you ever wonder why you have to bear the same premium as someone who smokes, leads a sedentary lifestyle and doesn’t believe in the idea of exercising? Well, the good […]
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