In 2011, IRDA came out with regulations regarding portability to protect the interests of consumers. As per the portability guidelines, any insured person if not satisfied with his/her existing health policy can switch to another insurer of choice. The insured will get all the accrued continuity benefits in waiting periods provided there are no lapses in policy renewal. The right reasons to port: The primary consideration under which most people port their health insurance po

Many corporates offer group health insurance to their employees to secure their well-being. If associated with any organisation as an employee, you are by default covered if the employer is offering group health cover. Many of the group policies cover not just employees but also their family members. Here are a few benefits of a group health insurance plan: Advantages: No waiting period: Unlike a personal health policy, most group health insurance plans do not have waiting p

Adequate life insurance cover taken can ease the financial burden of a family to a great extent. However, the responsibility does not end in just taking a life cover. It is imperative that the bread earner and the family is aware of certain issues relevant to the claim settlement process in an unfortunate event. This has become more relevant in the present times amidst the pandemic situation. Foremost being the situations under which an insurance company can reject a claim. I

Mr. A’s flat in a high rise was recently gutted in a massive fire which broke out due to short-circuit. His entire property, contents, including all important documents, valuables, electronic items, were destroyed in the fire. Unfortunately, Mr. A learnt the importance of home insurance the hard way. Our home is one of the costliest assets we own and we entrust our major life savings into buying it. However, we do not realise that our home too needs protection in the form of

Ask any individual about their health insurance coverage and the basic sum insured would typically range between Rs.2-5 lakh. This primary cover does not usually prove to be sufficient with passing age and increased health care costs. Any lifestyle disease or any complicated medical condition in the future can easily consume the entire health cover in one go. One has to pay a huge sum then from the own pocket. Health insurance cover thus needs to be reviewed at regular interv

Buying life insurance cover is one of the most vital aspects of Financial Planning. And choosing a suitable life cover is a very important decision. Term insurance has the been the simplest form of life insurance product to understand. The insured pays regular premiums during the policy term and in the event of his death, the nominee gets a lump sum death benefit. But even with a simple term policy, many a times, there is confusion among buyers. It is because of the extra fea

Most life insurance companies today offer term insurance plans online. The premiums of these plans come at less than half the price of the insurance plans bought offline. The absence of an agent between the customer & insurer and low operational costs are the primary reasons for such low premiums. Unfortunately, this is the starting point in selecting a term plan. With information available online, a prospective buyer usually compares premiums of term insurance plans on websi

Term insurance has the been the simplest form of life insurance product to understand. The insured pays regular premiums during the policy term and in the event of his death, the nominee gets a lump sum death benefit. However, it is possible that somehow the basic purpose of buying life insurance to take care of a family in the absence of the breadwinner may not be truly met. This usually happens when the family is not financially equipped to handle the huge insurance claim w

Diabetes has become one of the biggest health threats in India today and perceived to be a silent killer. As per media reports, presently, about 70 million people are affected by this disease, mostly in the age group of 30-60 years. Stressful lifestyle, poor diet, obesity, heredity, etc., are known to be the common causes of Diabetes. If not taken care, diabetes can cause a lot of health complications. Excess sugar levels can severely damage the eyes, kidneys, etc., and even

Bought health insurance for yourself and family? You have taken the right step to secure your family for medical emergencies. But your job does not end here. Tackling emergency not only means being prepared financially. It also means being prepared mentally at some level. Our rational mind would usually panic first during a medical emergency and may not think properly to take the right decision. The real test thus happens in the event of an hospitalisation and claiming health

You have bought health insurance and are paying regular premiums on it. You think your job is done and you are prepared for any medical emergency. Presently, you have no health condition by God’s grace. But do you think this health cover will be sufficient after 5 years? Buying health insurance is not a one-time thing. It needs to be periodically reviewed and if necessary, upgraded as well. With passing age, there would be a sea-change in your life priorities. Depending on ho

Parents provide everything to their children to the best of their abilities. Time & money, both. They never stop caring even after their children become adults, start working, get married, become parents. They put their priorities first before their own. One of the areas where parents ignore their own basic need is having adequate health insurance as they age. The awareness about this basic necessity is low among the elder generation. Even if they have health cover, it is pro

Buying a health insurance policy is one of the wisest things you can do for yourself and family. But what happens if the insurance claim which you are in dire need of to pay hospital bills is rejected by the insurance company. While the health insurer could be at fault for wrongly denying a claim, many a times, it is the mistake of the policyholder. Before you accuse the company, start with knowing the reason for claim denial. Let us examine the probable factors which may lea

The primary goal of buying a life insurance policy is replacement of future income of the breadwinner in the event of his death. Life insurance is vital for the future well being of loved ones as it helps them to cope with financial responsibilities in the absence of the earning member. While insurance is essential, it is possible that in certain situations, it is not required. Like for instance, if you do not own a car, you do not need auto insurance. Similarly, in certain s

A health insurance policy bought is no good if it does not serve the purpose of providing timely financial relief in the event of a...