INSURANCE


Moneylife Digital Team 10 June 2021
Critical illness insurance is a useful product for covering the expenses for treating major life-threatening illnesses such as severe cancer, heart attack and others.   Regular health insurance does pay for expenses related to treating critical illnesses, but may not entertain...

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Moneylife Digital Team 04 June 2021
Personal accident (PA) cover and term life insurance are two very important insurance products during our working age. While it is easy to compare and buy a term life cover, the same cannot be said about a personal accident cover.   PA policies are sold either as add-ons to a term...

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Moneylife Digital Team 01 June 2021
The Madras High Court (HC) has ruled that the wife is not entitled for a share in the insured money, if her deceased husband did not contribute towards the premium payment.   In a recent ruling, Justice S Vaidyanathan passed interim order on a petition from G Asha, wife of Ganesh Raja...

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Moneylife Digital Team 24 May 2021
Max Bupa Health Insurance has launched a new health insurance plan for senior citizens. The Max Bupa Senior First policy comes with no sub-limits for common health conditions, health check-up, no claim bonus, ‘ReAssure’ benefit and more. Let us find out whether it is worth it or...

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Mahesh works in the airline industry. In March 2020, when the Government announced a nationwide lockdown, all the airlines were grounded, and the cash inflows of Mahesh’s company dried up. The company delayed staff salaries for a couple of months. Mahesh was in a fix. His organisation was not...

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Moneylife Digital Team 12 May 2021
Many insurers have been refusing to renew Corona Kavach and Corona Rakshak insurance policies (the special COVID-19 policies) launched in 2020 to provide a cover for hospital treatment. Taking a serious note of the refusals by insurers, the Insurance Regulatory and Development Authority of...

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Jenny Deam (ProPublica) 11 May 2021
Since the Trump administration deregulated the health insurance industry, there’s been an explosion of short-term plans that leave patients with surprise bills and providers with huge revenue.   In the spring of 2019, Cory Dowd suddenly found himself without health insurance for the...

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With complaints of life and non-life insurers not selling or renewing standard coronavirus specific health insurance policies Corona Kavach and Corona Rakshak, the Insurance Regulatory and Development Authority of India (IRDAI) has advised the former not to deny the risk cover.   In a...

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Life Insurance Corporation of India (LIC) has given several relaxations in various claim settlement requirements to make the processes easier and hassle-free, keeping in view the safety of its customers amid the pandemic.   The state-run insurer said that to facilitate speedy...

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Moneylife Digital Team 07 May 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has issued the framework for a standard domestic travel insurance product, to be called “Bharat Yatra Suraksha”.   The policy will provide coverage for hospitalisation expenses, death, permanent complete or partial...

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Moneylife Digital Team 07 May 2021
A screenshot of a LinkedIn post by ISB (Indian School of Business) gold medallist Sarthak Ahuja has recently gone viral on WhatsApp and other social media with a claim that if someone with active employment passes away due to COVID-19, his or her legal heirs are eligible to receive money...

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Moneylife Digital Team 30 April 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has directed that health insurers have to decide or clear requests for cashless treatment and final discharge from hospital within one hour of receipt of the request. The instructions come into force with immediate...

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Moneylife Digital Team 26 April 2021
In a significant decision, the Insurance Regulatory and Development Authority of India (IRDAI) has allowed insurers to invest in debt securities of infrastructure investment trusts (InvITs) and real estate investment trusts (REITs). Earlier, insurance companies were allowed to invest only in...

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Physicians heal thyself is passe. Insurers reimburse themselves is the new phrase.   At a time when the general public health insurance policyholders are denied genuine hospital expenses incurred by them, the employees of government owned general insurance companies have been allowed...

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India's insurance sector regulator has directed general and health insurance companies to take action against hospitals if they don't provide cashless facility for COVID-19 claims.   In a circular, the Insurance Regulatory and Development Authority of India (IRDAI) told the insurers...

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Moneylife Digital Team 21 April 2021
Max Life Insurance has launched a new term life insurance called Max Life Smart Secure Plus Plan. The policy will offer new and enhanced benefits like premium break option, special exit value and a choice of claims payout for nominees.    Term life insurance is a pure risk cover...

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Bajaj Allianz General Insurance Company Ltd was fined Rs.10 lakh by the insurance regulator for violation of the Insurance Act and its Motor Insurance Service Provider (MISP) guidelines.   The Insurance Regulatory and Development Authority of India (IRDAI) in its order has said Bajaj...

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Moneylife Digital Team 09 April 2021
Term life insurance is a pure-risk insurance cover that pays death benefit in case the life assured dies during the policy term. Premium on term life insurance is the cheapest compared to other forms of life insurance, mainly due to the absence of any savings or investment...

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Sponsored Post 08 April 2021
One of the biggest lessons that the COVID-19 pandemic has taught us is that life is very unpredictable and it is imperative to stay prepared for the unexpected. An ill-timed disease can take a major toll on a family and its financial condition. This is where life term insurance acts as a...

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Sponsored Post 26 March 2021
The whole world has gone in to major turbulence due to COVID-19. Things like working from home have gone mainstream. The situation has also led to a decrease in driving as observed by insurers and consumers alike. This has made drivers seek solutions like mileage based auto insurance coverage...

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