Normally the figure is Rs. 30000 to Rs 50000 . It is good to know that now Royal Sundaram covers amount of Rs 2 lakh . This was requirement of up market customers who patronize hospitals like Fortis La femme in Greater Kailash 2 in New Delhi .
Details are available on ria @surekhae.com
Saturday, May 9, 2015
Saturday, February 28, 2015
Good & Bad for Insurance in Budget 2015
Good & Bad for Insurance in Budget 2015
According to S K Sethi Director RIA Insurance Brokers Pvt Ltd
- Increase in Health Insurance exemption limit from Rs 15000 to Rs 25000
- Increase in Health Insurance exemption limit for senior citizens from Rs 20000 to Rs 30000
- Jan Dhan account holders get Term cover for Rs 2 Lakhs by paying Rs 330 per year provided age is 18 to 50 years. Payment out of Bank Account
According to S K Sethi Director RIA Insurance Brokers Pvt Ltd
- We welcome increase the limit for Individuals and senior citizens Services tax should be removed for all Health Insurance policies. On premium of Rs 18000 Crores the tax collected is Rs 2050 Crores which is discouraging the families to buy Health Insurance.
- Rate should be Rs. 100 per year as Life Insurance have issued Group Term Insurance policies for Rs 76 per year for sum assured of Rs 2 lakhs . For 6crores persons rate has to be attractive. Rs 330 are very high premium. Negotiation is required by the Government.
Sunday, December 21, 2014
Wedding Insurance
Wedding is that auspicious event that marks a new beginning rather than a new chapter of life. Two people who plan to unite and stay together tie the pious nuptial knot. This special day is all that a couple dreams about and all that they can’t stop worrying about. And though they might not think about it but disasters can strike the wedding.
Only you know how important it is to ensure the happiness and satisfaction on this big day of yours. To avoid major bloopers on this day, opting for wedding insurance is catching on.
Now the question that might pop up in your mind is that what exactly a wedding insurance will do to you, from a sudden cancellation to stolen gifts, wedding insurance helps protect you against the unforeseen circumstances, and also can afford you great peace of mind.
Basically, wedding insurance protects a couple’s investment from circumstances beyond their control, and reimburses the expenses that they incur on it. For example, what if the reception space goes out of business a month before the wedding and you lose all your deposits and have to book another space, what if your designer wedding dress is lost in airport baggage and you have to buy a new one a day before your wedding? These are the types of big day financial losses that wedding insurance can help to protect.
Coverages
- Burglary of valuables
- Any damage to building and contents due to fire or allied perils- Accidental death in family or that of close family friend
- Police action apart from child marriage case or cases that are criminal in nature also gets insurance protection
- Legal liability and third party damages
- Cover against food poisoning, loss of wedding ornaments
Money kept in safe
Coming to the point of premiums, wedding policies come at a very meagre premium. There also may be a provision for taking wedding insurance only for selected items. The compensation for wedding insurance comprises expenses, securities and advances based on actuals. The loss of property is calculated on actuals and perils.Subsidiary marriage functions can also be a part of the policy. To clear a wedding insurance, it is essential to give a proper break-up of items.
For example, if there is damage to some property then amount lost, sets, other charges and every such things should be mentioned very clearly. Another question that might come out of wedding insurance query could be whether a unique situation wherein the bride or groom changing mind at the venue of wedding would be covered or not, the answer for which is that insurers call it a cold feet issue and thereby it will not be covered then.
Our big fat Indian wedding calls for lot of investment and in such a situation if any mishap takes place then it is going to take the whole event on a toll and therefore it is essential that you transfer your risk to the insurers and indulge into the madness of the wedding season that is approaching.
-Narendra Anand
The author is senior vice-president & Head GI, Bajaj Capital Ltd.
Friday, July 25, 2014
Waiting period in health insurance
You will have to serve a waiting period when you sign up for a Health Insurance Policy or enhance your level of coverage. Waiting period is necessary to keep the health cover fair. A waiting period protects the insurer by ensuring that individuals are not able to make a claim shortly after buying a Health Policy.
Waiting period also called the cooling period. It is the time after the purchase of policy under which no claim paid other than in the situation when claim has resulted due to an emergency. It varies (from 30 days to 90 days) from insurer to insurer.
Pre existing, waiting periods and Exclusions in a health Insurance policy
Pre-existing are the diseases from which a policyholder suffers from before taking a health insurance policy. Most of companies in industry provide coverage to these pre-existing diseases after four continuous years of coverage.
Waiting Period for Pregnancy (Maternity waiting Period)
Maternity benefits paid by certain health insurance policies/providers. However, most of them have a waiting period of 9 months to 48 months. It just means that health insurance plan needs to be planned much ahead of planning your family to cover all the expenses involved in the same and it cannot be taken after conceiving.
Thursday, June 19, 2014
Top Health Insurance policies from the Top-Insurers in India
Everyone wishes for good healthy life. However, bad time comes without knocking. We expect best treatment in the best hospitals for our loved ones. Good treatment incurs big cost. This is why Health insurance comes into picture, which helps us to maintain financial losses due to hospitalization.
Buying the right health insurance policy is very important but it’s difficult, as it’s not something that We do on daily basis, and the information and pricing can be complex.
When we endeavor to find the best-suited health insurance policies, it includes as much information as possible. We cannot show everything but we can show you many things.
Following is the list of Top HealthInsurance policies offered by top insurers in India with the complete plan details, which can really help you get the right health insurance plans to secure the happiness of your loved once.
| Insurer | Apollo Munich | Religare | L&T | Max Bupa |
| Plan Name/ Features | Optima Restore-Family Floater | Religare Care | My Health Medisure Classic Insurance-Family Floater | Heartbeat -Family Floater- GOLD plan |
| Room Rent | No Capping | Single private room | 1% of sum insured max. 4000 per day ICU 2% of sum insured max. 6000 per day | No Capping |
| Pre-Existing Disease Cover | After 3 Years | After 4 Years | After 3 Years | After 4 Years |
| Maternity Benefits | Not covered | Not covered | After 4 years | If S.I. 5 Lacs , Rs 40000, S.I. 7.5 Lacs , Rs 45000, S.I. 10 Lacs , Rs 50000, Upto 2 deliveries (After 2 years) |
| Ambulance Charges | Upto Rs.2,000 | Upto Rs.2000 | Upto Rs. 1500 | Covered |
| Cashless Benefit | In network Hospitals | In network Hospitals | In network Hospitals | In network Hospitals |
| Domiciliary Hospitalization | Covered | Upto 10% of sum insured | Covered | If S.I. 5 Lacs , Rs 25000, S.I. 7.5 Lacs , Rs 37500, S.I. 10 Lacs , Rs 50000 |
| Free Health check up | Not covered | Every year | 1% of sum insured (after 4 claim free years) | Yearly at the time of renewal |
| Tax Benefit | Covered | Covered | Covered | Covered |
| Sum Insured 5 Lakh/ Age 29 yrs | 11149 | 10265 | 10782 | 17403 |
Insurance comparison is very important to getting the right health insurance policy. Keep following fine prints in mind while looking for the health plan-
· Find the policy that meets your needs and must compare their features before making purchase decision.
· Medical cost may vary from tier one cities to tier two cities. So do a check before finalizing health policy
· Find what suits best - Individual HealthInsurance, Family Floater Insurance, or Critical illness insurance. This defines the investment cost and maximum benefits of the policy.
Hoping the above plan details help you a getting the right health insurance plans from the best insurer in India.
Thursday, June 12, 2014
Buy adequate health, home & motor insurance to mitigate any financial loss during rainy season: Experts
The sight of skidded cars and bikes after a drizzle last week was a grim reminder that monsoon is also a season of mishaps and illnesses. Despite knowing this, chances are that you may miss one item in your regular monsoon checklist — insurance covers. You can always take precautions to avoid or minimise the damage, but what if adisaster strikes despite all efforts?
Only an insurance cover can mitigate your financial losses in such a situation. It is prudent to use this monsoon to review your insurance needs. Some of the covers that you opt to buy this monsoon, will start only after a waiting period of, say, 30 days. But, that shouldn't deter you from buying them, say experts.
Rain or shine, you must have a health cover. In fact, you should even get it for all the family members. "Basic hospitalisation indemnity plan accompanied by personal accident and hospital cash covers are essential during the monsoons.
It is also necessary to take care of any illness-related exigency such as gastroenteritis and enteric fevers, which arise mainly during the rainy season," says Renuka Kanvinde, assistant VP, health insurance, Bajaj Allianz. You may not able to claim for illnesses immediately.
"When it comes to healthinsurance, standard exclusions such as 30-day waiting period for all conditions except accidents, pre-existing conditions, cosmetic treatments etc would apply." Acquaint yourself with co-payments, room rent restrictions and disease-wise capping in the policies.
Personal accident cover is another must for earning members of all age groups, say advisors. It covers treatment expenses related to accident, and offers compensation if the policyholder suffers from disabilities or succumbs to the injuries. "Apart from risks that slippery roads pose individuals undertaking activities like rafting during rains also expose them to dangers, and hence, a personal accident cover is a must. In fact, every earning member of a family must buy this cover," says KK Mishra, MD & CEO, Tata-AIG General.
However, do compare the policy features offered by various insurers before buying one. Opt for comprehensive covers that offer compensation for permanent partial and temporary total disabilities too, along with permanent total and partial disabilities and death
A home insurance will help in case the structure or contents are damaged due to flooding, inundation, storm, cloud burst, lightening and so on. "It can be of help in a city like Mumbai where water-logging occurs quite often during monsoons.
You should go for comprehensive home insurance cover instead of limiting it to just fire and theft," says Mishra. However, go through the fine print carefully before signing up. "It is important to be aware that rain water damages are not covered under fire and home insurance policy," says Arvind Laddha, CEO, Vantage Insurance Brokers.
"You must have motor insurance cover that takes care of all sorts of damages, since your vehicle is more prone to damages during rains," says Vijay Kumar, chief technical officer, motor insurance, Bajaj Allianz General. "Though the basic motor insurance plans will cover the damages on the body and other outer equipment of the car, there are some claims that are not payable under the basic motor insurance policy.
Source: The Economic Times
Dated: 12/06/2014
Wednesday, May 28, 2014
Compare Individual Health Plans
Not sure, what kind of health insurance coverage you required? Let us help. We can calculate premium for you with the complete coverage that best suits your requirements.
Compare different health insurance plans to find the best-suited insurance cover. You can estimate annual insurance cost and savings or chat live with one of our expert adviser.
Individual health insurance works against the risk of incurring medical expenses among individuals. You can save money by comparing different insurance plans, regular reviewing your health insurance coverage, taking benefits from your employer’s medical coverage and living a healthy life style.
Health insurance is a way to protect you and your family from dangerous financial disaster that could be result of medical expenses or health related issues. Health insurance is the only way, which can help you in such critical situation. There are ways that save money on your health insurance premium like:-
- Compare OnlineInsurance: Compare the different insurance policies with the complete plan details will definitely provide you the best suited health insurance policy as per your need.
- Opt for two-year policies: Health Insurance Companies like Apollo Munich, HDFC Ergo, and Star Health offer two-year health plans. Chances are you will benefit on more than just the premium front.
- Use Top up Health Insurance Plans: If you are looking for higher coverage, you can go with the top up health insurance plans. Enhancement in health insurance policy ensures that you get much improved policy at an affordable premium.
- No Claim Benefits: With a successful year without the insurance claim means, the premium you would pay in the following years would be lower.
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