Page 16 - Health Insurance

True North sells 20% stake in Niva Bupa to Bupa for Rs 2,700 crore

UK-based Bupa, an international healthcare company, was a founding shareholder when the business was first established in India in 2008

Standalone health, private multi-line insurance players see more gains

Target prices though indicate decent upside in Star Health, and minor gains in ICICI Lombard

Table explaining health insurance plans offered by various companies

Key features of schemes and their premium rates explained

Many Indians' intent to buy insurance doesn't lead to action: Report

Consumers spend 11% of their annual income on life insurance and 8% on health insurance, it says

Reliance in talks with head hunters to find CEO for Jio's Insurance biz

Executives from Reliance have met several firms in recent weeks to help them map top talent across life, health and general insurance segments

Limited tailored health insurance policy options for cancer survivors

Regular plans, if offered, may permanently exclude cancer from coverage

NHRC wants Irdai to ensure insurers offer health products to disabled

The National Human Rights Commission (NHRC) has urged the insurance regulator Idrai to make insurance companies follow the spirit of the law of the land to ensure that the disabled get hassle-free health insurance by designing special products for them. A panel meeting of the representatives of the NHRC, Irdai, the National Centre for Promotion of Employment for Disabled People and some key finance ministry officials here Friday called for rationalising and institutionalising insurance for the disabled. Disability advocacy groups have long been pushing for comprehensive health coverage for the disabled. Following the December 2022 guidelines issued by the Delhi High Court, Irdai, in February 2023, mandated insurers to offer annual health coverage to disabled, HIV-positive, and mentally disabled people. The regulator had also instructed insurers to devise inclusive insurance products aligned with the essential recommendations for the disabled. However, insurers are limiting the ...

Table on rates and terms for health insurance polices in market

After purchasing a policy, do not surrender it midway through tenure

Reliance bags contract for Meghalaya universal health insurance scheme

Reliance General Insurance Company Ltd on Tuesday said they have been awarded the contract for the implementation of Meghalaya's health insurance for citizens. TheICL will be implementing the Megha Health Insurance Scheme and the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana phase 6. "The contract is awarded after a competitive bidding process, in whichICL emerged as the successful bidder to implement a revised MHIS 6 scheme in convergence with PMJAY, providing an insurance cover of Rs 5,30,000 for all eligible beneficiaries on a family floater basis,"ICL said in a statement here. It stated that the state government has decided to review the Health Benefits Package and other terms in the Insurance Contract of MHIS 6 and will cover over 7 lakh families in Meghalaya, providing them with comprehensive health insurance coverage that will meet their secondary and tertiary care hospitalisation, outpatient care, diagnostic tests, and follow-up care. ICL CEO Rakesh Jain said, "We are ..

Insurer Star Health announces alliance with Standard Chartered Bank

Collaboration with lender will help in offering 'tailored health insurance' to more customers, says firm

Critical illness policy must cover ailments relevant to your family history

Go for high coverage amount and choose policy with minimal survival period condition

Relying solely on corporate health insurance plan can impact your finances

Supplement it with a retail plan with adequate sum insured, and no room rent or disease-wise capping

Health, motor continue to drive general insurance, Q1 sales jump 17.9%

Robust demand for health and motor covers buoyed non-life players' premium income in the first quarter of the current fiscal to Rs 64,262.8 crore, a growth of 17.9 per cent on-year when the industry had clipped at 23 per cent. The spike in sales of motor policy, which used to be the largest segment of the industry but is now pushed down to the second slot behind the health segment, is easily understood given the vrooming automobile sector that has sold more than 2 million units in the June quarter. The robust double-digit growth for the general insurance industry comes in sharp contrast to a 0.8 per cent decline that life insurers logged in the reporting quarter, driven down by the massive poor show by the industry leader LIC across its business verticals. In June, the non-life insurance industry reported a premium of Rs 20,451.9 crore growing by 14.8 per cent on-year compared to 20.6 per cent in the same period last year, according to the data collated by Care Ratings. The 17.9 ..

Pair base insurance policy with super top-up to limit premium cost

Opt for insurers with lenient no-claims bonus policies to tackle need to hike sum insured periodically

Unaffordable and complex: Why Indians stay away from health insurance

The study, titled 'How India Buys Insurance', reveals that high premiums are preventing individuals from obtaining insurance cover, or in some cases, adequate insurance coverage. benefits

Ayushman Bharat world's best health insurance scheme: Jitendra Singh

The Minister informed that Ayushman Bharat Yojna provides free treatment of upto five lakh rupees in the best of hospitals to eligible beneficiaries

Corporate India's health insurance safety net doesn't cover everyone

Majority of staff in key business sectors lack protection, shows data from listed companies

Want immediate insurance coverage for diabetes? Apply for a customised plan

Though costlier, they offer coverage for both type I and II diabetes, and to those with high levels of HbA1C

Avg health insurance claims in India Rs 42,000; 15% cross Rs 1 lakh: Report

The average cost of health insurance claims in India is Rs 42,000, with 15 per cent of these claims exceeding Rs 1 lakh, a report said. This highlights the need for policyholders and insurance providers to consider potential high-cost scenarios, such as hospitalizations exceeding five days and costing over Rs 5 lakh, when designing coverage options. The report by SecureNow on Reimbursement Health Insurance Claims provides significant findings on hospitalization duration, claim costs, settlement rates, and the efficiency of the claim settlement process in India. It analysed 3,846 health claims filed through the reimbursement process as opposed to cashless. These claims were geographically diverse and covered different kinds of insurers, family members, and both external and internal Third Party Administrators (TPAs). Furthermore, it said, less than 3 per cent of claims are due to accidents, with a lower median cost of Rs 33,000. The report emphasizes that the duration of ...

Maharashtra govt's flagship health insurance scheme to cover all: CM Shinde

Maharashtra government's flagship health insurance scheme will cover the entire population of the state, Chief Minister Eknath Shinde said on Wednesday. The premium of the Mahatma Jyotirao Phule Jan Arogya Yojana (MPJAY) has been increased from Rs 1.5 lakh to Rs 5 lakh, Shinde told reporters after attending the state Cabinet meeting. "The health insurance scheme will cover the entire 12.5 crore population of the state," he said. This health scheme provides end-to-end cashless services for identified diseases through a network of service providers from the government and private sector. As of now, the beneficiaries of the scheme include holders of the yellow ration card, Antyodaya Anna Yojana ration card (AAY), Annapurna ration card, and orange ration card, besides white ration card-holder farmer families from 14 agriculturally distressed districts, and other sections. The chief minister also said the "aapla davakhana" scheme for providing health services to common people will be .