Insurance

[ad_1] Q. I am a 37-year-old professor at a private college, and I want to ensure my family’s financial security in case something happens to me. My daughter dreams of becoming a doctor that requires a substantial amount of money. I am diligent and considerate about my savings. However, as an academic, I am aware that inflation can affect my household expenses and impact my future financial planning as…

[ad_1] New Delhi: India’s standalone health insurers grew two times faster than the general insurance industry in FY24, ToI reported on April 12 citing data from the General Insurance Council. The general insurance industry recorded an annual premium of close to Rs 2.9 lakh crore for FY24, marking a 13 per cent rise from the previous fiscal year’s Rs 2.6 lakh crore. Similarly, the five standalone health insurance companies…

[ad_1] New Delhi: A brand-new regulator for health insurance may be among the first proposals to be signed off by the next government, with the Union finance ministry seeking early consultations, two people aware of the matter said. The ministry has tapped the health ministry to begin consultations with insurance companies, healthcare service providers, the National Health Authority and others to formalize the plan, the people cited above said…

[ad_1] New Delhi: PhonePe has announced a strategic partnership with Star Health and Allied Insurance Company Ltd (Star Health Insurance), India’s largest retail health insurance company. The collaboration aims to provide customers with health insurance options with monthly and annual payment choices, enhancing flexibility and convenience for users. Through this partnership, PhonePe users gain access to Star Health Insurance’s Comprehensive Health Insurance policy, with coverage extending up to Rs…

[ad_1] Mumbai: Canara Bank has expanded its range of financial products with the introduction of Canara Heal, a healthcare-focused loan aimed at covering hospitalization expenses and addressing shortfalls in meeting hospital claims settled by insurance companies. The Bengaluru-based bank has also launched Canara Angel, a savings account tailored for women that includes a Cancer Care policy. These health products were developed in collaboration with NediAssist Health Care Services, a…

[ad_1] Magma HDI General Insurance Company and Suryoday Small Finance Bank have partnered under a Corporate Agency Agreement to provide health insurance to Suryoday Bank’s Commercial Vehicle Loan customers. This strategic alliance aims to enhance access to health insurance by utilizing Suryoday Bank’s widespread presence in both urban and rural areas. Also Read: From premiums to claims process: Decoding key terms in insurance policies | 8 points Partnership to…

[ad_1] You might be planning to invest in insurance, but reading the terms and conditions diligently can be an overwhelming experience. Before investing in an insurance policy, it is paramount to understand the fundamental terminology. Before you invest in an insurance policy, it’s essential to understand the basic terminology for better coverage comprehension. Understanding terms like premiums, deductibles, coverage limits, and policy riders is essential for better usage of…

[ad_1] Q. I recently got married and my spouse is self-employed. Can we combine our health insurance plans, or should we each maintain separate coverage? What are the pros and cons of each option, especially considering our differing employment statuses. Combining health insurance plans as a married couple, especially when one spouse is self-employed, involves weighing the pros and cons of different options. Here are some considerations to help…

[ad_1] London: Shares of U.S. health insurers dropped between 4 per cent and 9 per cent premarket on Tuesday after reimbursement rates to providers of Medicare Advantage health plans were unchanged from the initial proposal, raising worries about a squeeze on margins next year. The U.S. Centers for Medicare & Medicaid Services (CMS) payments to Medicare Advantage (MA) programs, which serve those aged 65 and older, are expected to…

[ad_1] Financial planning is essential in today’s world to safeguard and ensure our family’s financial stability. A key component of financial planning is choosing the right insurance. Unfortunately, many people mistakenly believe that insurance is primarily for tax savings and prioritize the tax benefits when selecting a policy, but this is not the correct approach. While tax benefits can be an attractive advantage, they should not be the main…

[ad_1] New Delhi: President Joe Biden on Thursday announced new steps to protect consumers who buy short-term health insurance plans that critics say amount to junk. A new rule finalised by the Democratic president’s administration will limit these plans to just three months. And the plans can only be renewed for a maximum of four months, instead of up to the three years that were allowed under Biden’s predecessor,…

[ad_1] Insurance regulator Insurance Regulatory and Development Authority (IRDAI) has released a set of new regulations in relation to the surrender value of insurance policies. The new set of rules will come into effect from the next financial year i.e. April 1, 2024.  According to the latest guidelines, surrender values for life insurance policies are set to decrease if the policies are surrendered within three year. But if the…

[ad_1] The Insurance Regulatory and Development Authority of India (IRDAI) has retained the existing surrender values for life insurance policies, following concerns raised by life insurers, according to the gazette notification issued later last week. The regulator also permitted sale of Index Linked Insurance Products, where the Net Asset Value (NAV) is linked to publicly available indexes IRDAI decided to retain the regulations after it suggested an increase in…

[ad_1] New Delhi: The Insurance Regulatory & Development Authority of India (IRDAI) in a recent meeting okayed the issuance of a Certificate of Registration to Galaxy Health and Allied Insurance Company Limited, authorising it to conduct health insurance operations within India. This marks the sixth registration approval within approximately a year across various segments including life, non-life, and health insurance. Notably, earlier this year, IRDAI granted Narayana Health in-principle…

[ad_1] New Delhi: As India’s youngest airline Akasa Air prepares to launch international flights next week, the low-cost carrier has plans to register record expansion in international segment and expects to connect cities across Thailand, Vietnam, Malaysia in the next 2-3 years, a top company executive said. “We are interested in Malaysia, Thailand, Vietnam, Indonesia. A couple of years from now, it is more than likely that we will…

[ad_1] The importance of oral health cannot be overstated, as it not only affects our physical well-being but also our overall quality of life. World Oral Health Day is celebrated annually on March 20th to raise awareness about the importance of maintaining good oral health practices.  Access to quality dental care can be a challenge for many people, having insurance can make a huge difference in ensuring that individuals…

[ad_1] Millennials have disrupted many industries, and insurance is not an exception. This generation values connectivity and their continuous access to information, thus demanding personalised experiences, transparency, and technology-driven solutions. In the dynamic landscape of the Indian life insurance industry, a transformative shift is underway, with prime focus on providing tailored financial protection for the next generation. The evolving needs and aspirations of young individuals demand a more personalised…