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SBI General Insurance has launched its flagship retail health insurance product – ‘Health Alpha’. The product offers up to 10x cumulative bonus, unlimited sum insured, endless sum insured, and cover for gym and sports injuries, among other benefits. The product provides a wide range of sum insured options, ranging from ₹5 lakh to unlimited sum…
A comprehensive health insurance plan that covers the entire gamut of treatments is something that customers look forward to while buying a policy. Now, Galaxy Health Insurance Company, offers coverage for a whole host of treatments from surrogacy, oocyte donor expenses and organ transplantation—all under its ‘Galaxy Promise Signature’ plan. There will be no change…
If you are planning to buy a health insurance policy for yourself or your family, apart from the regular check-lists of ‘must-have’ options, you should choose a plan that offers restoration benefits. With the surge in medical inflation, the availability of restoration benefits in a policy can become a shield against astronomical medical bills. Restoration…
Take the case of Kolkata-based Sabita Mukherjea, who had been hospitalized due to a respiratory tract infection. “First, the insurer did not approve the cashless claim and later rejected the reimbursement claim saying hospitalisation was not necessary. I had paid more than seven premiums in the policy,” Mukherjea said. However, as per the moratorium clause…
The year 2024 has been transformative for India’s life insurance sector, marked by regulatory advancements, evolving customer needs, and innovative product developments. These changes have driven industry growth and reinforced its role in securing the financial well-being of millions of Indian families. The sector has shifted towards greater digitalisation, improved product offerings, and enhanced accessibility,…
Insurers typically require proof of hospitalisation to process a health insurance claim. However, what can be done when someone is too old or unwell to be admitted to a hospital and the sole option is to get treatment at home? Treatment at someone’s home or domiciliary treatment covers medical consultation, nursing care, medical consultation fees,…
Health insurers are getting innovative and are offering jumbo benefits to customers. After ICICI Lombard’s ‘Elevate’ that offers infinite sum insured, 100% cumulative bonus and unlimited restoration benefits and Star Health Insurance’s ‘Super Star’ that provides similar benefits along with the option to lock in your age at entry, wherein premiums are fixed at the…
New Delhi: The Central government may more than double the insurance coverage under its schemes, the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY), in the upcoming budget, two people aware of the matter told Mint. The initiative aims to strengthen financial security, especially for individuals from economically…
This lag in insurance coverage presents opportunities for insurers. They can expand their reach in tier-II and tier-III cities and rural areas with low awareness and accessibility. “Insurance density in India is relatively low compared to global standards. Innovative distribution models can facilitate the inclusion of underinsured customers who are already covered by government schemes,”…
The limit on room rent is a significant factor in a health insurance policy as exceeding it will increase your out-of-pocket expenses significantly. If a policyholder opts for a room that is above the limit set in the policy, the insurer will apply a proportional deduction, affecting not only the room rent payout but also…
