Page 13 - Health Insurance

Irdai mandates health insurers to decide on cashless claims within 1 hour

Regulator Irdai on Wednesday released a master circular on health insurance specifying that an insurer will have to decide on cashless authorization within one hour of request. The master circular on Health Insurance products repeals 55 circulars issued earlier and it is a significant stride towards reinforcing the empowerment of policyholders and bolstering inclusive health insurance, Irdai said in a statement. "The circular has brought in one place the entitlements in a health insurance policy available to a Policyholder/prospects for their easy reference and also emphasizes measures towards providing seamless, faster and hassle-free claims experience to a policyholder procuring health insurance policy and ensuring enhanced service standards across the health insurance sector, it said. Sharing salient features of the master circular, it said, wider choice to be provided by the insurers by making available products/addons/riders by offering diverse insurance products catering to al

May enter into health insurance, explore inorganic options: LIC chairman

LIC chairman Siddhartha Mohanty has said that the insurer would enter into the health insurance segment and can explore inorganic options if such an opportunity arises. There are expectations that composite licences may be permitted by amending the Insurance Act. As per the Insurance Act, 1938, and the regulations of the Insurance Regulatory Development Authority of India (IRDAI), composite licensing for an insurer to undertake life, general, or health insurance under one entity is not allowed. LIC is not an expert in general insurance like fire and engineering but it can do health insurance, he said while sharing financial numbers for FY24. "Internal work is going on...we will explore inorganic growth in health insurance," he said. In February, a parliamentary panel suggested the introduction of a composite licence for an insurer to undertake life, general, or health insurance under one entity to increase the penetration of insurance in the country. The panel headed by BJP leader

Phase 6 of Lok Sabha polls: Health insurance a key goal for constituencies

Lalganj (SC) in Uttar Pradesh had the lowest proportion of women with health insurance at 1.8 per cent, based on the analysis of the National Family Health Survey 2019-21 (NFHS-5) by the study

Phase V constituencies: Women's health insurance remains key challenge

Progress on other development indicators including adolescent pregnancy

LIC gets 3-yr extension from Sebi to achieve 10% public shareholding

State-owned insurance giant now has to meet regulatory requirement on or before May 16, 2027

Compare features, costs regularly to find a better health insurance

Combine base policy with super top-up, buy multi-year policy to cope with rising health insurance premiums

Mother's Day 2024: From SWP to health insurance, financial gifts for mom

Financial gifts can help your mother achieve financial independence and security. Here are some of the best financial gifts you can give her this Mother's Day

Customise insurance riders to fit your family's medical background

Understand the exclusions in each rider; consider a standalone policy for comprehensive coverage

Hesitant health insurers get a regulatory prod to expand coverage

Until recently, Indian insurers hesitated to offer new health insurance products, resulting in its low uptake. Recent Irdai relaxation targets this laggard retail business

Star Health Q4FY24 results: Net profit rises 40% to Rs 142 crore

The investment income in the quarter under review increased to Rs 3,953.3 crore, 35 per cent over Rs 2,915.2 crore from the January - March quarter of FY23 due to better interest rates

Door opens for senior citizens to get health insurance: What they should do

Seniors must strike a balance between premium and co-pay; too low a premium could mean high co-pay, which would pinch at the time of claim settlement

Health insurance age reform; NPS vs MF: Top personal finance stories

This week we report about how senior citizens should buy health insurance and what is a better retirement corpus

Key information about annuity retirement plans gathered in one table

Know about eligibility, key features and premium amount in Policybazaar table

Pricing key challenge for health insurance of older citizens: Experts

Most companies had an internal policy which did not allow them to sell health insurance products to persons of more than 65 years

All health schemes gradually coming under Ayushman Bharat umbrella

Coverage under India's flagship Ayushman Bharat scheme may double to Rs 10 lakh; scheme may integrate various national and state health programmes

NHA's digital OPD scheme records over 24 mn registrations since inception

UP tops in generating most tokens under digital OPD scheme, Tamil Nadu at bottom

Save income tax with health insurance under Section 80D: Here's how

Taxpayers can secure deductions on the premiums paid for themselves, their spouses, dependent children, and parents under Section 80D

Obesity and more: What can prevent you from applying for health insurance?

Are you aware that your obesity might prevent you from being granted a health insurance policy? Or that your premiums could be higher if you drink alcohol or smoke?

Rules decoded: Your child won't be covered in family health insurance if...

A health insurance plan acts like a safety net, catching you and your loved ones in times of medical emergencies

Women-specific health insurance policy is not worth your money: Here's why

Health insurance policies: Adding a separate maternity cover can significantly raise your annual premiums throughout the policy's duration