We all know that the first question a healthcare provider asks before starting any treatment is whether the patient is insured. We suspect that if we reply in the affirmative, the cost of treatment shoots up. No wonder several health insurers are reporting a negative claim ratio which means that they are paying out more than they are earning. Either they are under-pricing health insurance or...

Do not mix insurance and investment, even though ULIPs have become a bit cheaper

By putting a cap on what insurance companies can charge on unit linked insurance plans (ULIPs – really a mutual fund product), the Insurance Regulatory and Development Authority (IRDA) has made a good beginning. However, the IRDA circular is rather confusing. The circular talks about ‘gross yield’ and ‘net...