Apart from insurance firms, all branches of the banks dealing with government receipts and payments will also remain open for transactions on March 30 and March 31.
From April 1, 2024, the surrender value is expected to remain the same or even lower if policies are surrendered up to a period of within three years, as per IRDAI.
Bima Sugam will list insurance products from all life, health, and general insurance categories, providing a comprehensive one-stop shop for insurance needs.
Smooth and efficient claim settlement processes are paramount in the life insurance sector, enhancing the trustworthiness of insurance providers.
On Tuesday, a company spokesperson said that the policy is active and policyholders can purchase new policies and renew the existing ones. Due to a temporary technical glitch, the policy was not reflecting for renewal on the website, the spokesperson added.
Claiming tax benefits for a multi-year health insurance policy works a bit differently than claiming benefits for an annual policy.
The policy has several key features, including increased limits for female cancer treatment, coverage for puberty and menopause-related disorders, among others
Arogya Plus provided coverage on an indemnity basis up to a specified sum insured at a flat premium. Flat premium was given irrespective of age of the insured and family combination.
The survey, based on responses from over 23,000 respondents, also shows a 43% increase in the number of women purchasing individual coverage
While applying for health insurance, provide accurate and complete information about your medical history. Hiding pre-existing conditions can lead to policy cancellations or claim denials.
However, individual premium collected in the first 11 months of FY24 grew just 0.55% YoY
The survey also found that 46% of women are uncertain about realising their life goals, an increase from 39% in 2019, suggesting a confidence gap that is wider than that observed in men.
From navigating policy options to considering unique familial responsibilities, there are several crucial factors that women need to bear in mind when purchasing life insurance in India.
It is advisable to consult with a financial advisor to determine the best course of action for your specific circumstances
Though many insurers have started including such treatments in policies, the extent of coverage varies
Rules already exist that mandate all registered medical facilities to openly display their service charges for patients in the local vernacular and English
When it comes to the BH series, the location and registration will not play a role in determining insurance premiums
The right sum insured depends on factors like the city of residence, lifestyle, and the age of the insured members. But a cover of at least Rs 1 crore should be adequate for a family
Among measures, it suggests holding agents, intermediaries, group master policyholders, and other in the distribution channel accountable for tracing customers and updating their details
Claim filing is an importance aspect and ensures you get the comprehensive coverage as mentioned in your policy.
Storms, tempests, floods, and inundation coverage rates in India are not determined by the free market but are set by insurers
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