Mrs 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 […]

What 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 […]

The Insurance regulatory and development authority of India has mandated that all new insurance policies issued from April 1, 2023 are required to be issued through an e-Insurance Account. With the help of an e-Insurance Account policy holders may view, modify and operate their insurance policies in digital or electronic form. We have discussed in […]

Insurance regulatory and development authority of India (IRDAI), watchdog of the Indian insurance industry has committed to “Insurance for all” by 2047 in such a way that every citizen would have appropriate insurance coverage in terms of life and non-life insurance. IRDAI plans to achieve this commitment by strengthening the three basic pillars of the […]

Insurance regulatory and development authority of India has come out with updates related to the waiting period and moratorium period of insurance plans. These updates which are effective from April 1, 2024 would benefit both the existing policyholders as well as the new policyholders taking any health insurance plan.  Continue reading to know the updates […]

Vehicle insurance is mandatory in India without which you might have to pay a fine or face imprisonment or both. Vehicle insurance has two sections: Own damage and Third party. Third party premium is decided by the Insurance Regulatory and Development Authority of India and is the same across all insurance companies. On the other […]

Life insurance has come a long way after it was introduced in India and today it contributes majorly to the insurance penetration in India. While it is easy to understand the need for life insurance for everyone, there are certain blockades that exist in the process. For example, a life insurance plan once taken would […]

The Government of Karnataka has enacted a landmark legislation that significantly benefits employees across the state. The Karnataka Compulsory Gratuity Insurance Rules, 2024, introduce a mandatory insurance requirement for employers to secure their gratuity obligations. Let’s break down what this means for employers, employees, and insurance brokers within the state. Understanding Gratuity Gratuity is a […]