Page 7 - Health Insurance

Rising health insurance costs force one in 10 policyholders to skip renewal

Insurance companies say that rising claims are the main reason behind the price hikes

Health premium per policy up 73% since Covid-19, total sum assured up 240%

Turtlemint's data shows that in Tier 2 and Tier 3 cities, premium per policy has increased by over 73% since 2020

Pollution surge in Delhi may drive up health insurance costs by 10-15%

To implement such a change, insurers must first submit evidence to Irdai demonstrating a direct correlation between toxic air and increased health insurance claims

Maternity coverage a crucial part of health insurance for younger women

With each delivery costing Rs 50,000 - Rs 2.5 lakh, maternity coverage is key in such plans, besides reproductive health issues, menopause, and women-specific diseases

Bima-ASBA: New UPI payment mechanism for insurance premiums launched

It allows policyholders to block funds in bank accounts via UPI, ensuring a smoother transaction process without immediate debits

Plum to invest $6 mn over next 2 yrs to enter personal insurance segment

The company aims to simplify and democratise access to health coverage for individuals

Public sector general insurers post combined profit of Rs 1,066 cr in Q3

Public Sector General Insurance Companies (PSGICs) have achieved financial turnaround in the December quarter, posting a combined profit of Rs 1,066 crore on the back of various reforms by the finance ministry. Public sector general insurance companies (PSGICs), that historically reported losses, witnessed a major turnaround with all of them becoming profitable again, the finance ministry said in a statement on Thursday. While Oriental Insurance Company Ltd (OICL) and National Insurance Company Ltd (NICL) started posting quarterly profits from Q4 of 2023-24 and Q2 of 2024-25, respectively, United India Insurance Company Ltd (UIICL) posted profit in Q3 of 2024-25 after a gap of seven years, it said. Notably, New India Assurance Company Ltd (NIACL) has consistently maintained its position as a market leader and has been making profits regularly, it said. New India Assurance Company recorded nearly 51 per cent drop in net profit to Rs 353 crore for the third quarter of the current ...

Over 650K families may benefit if Delhi joins Ayushman Bharat cover

According to a parliamentary response by the Union Health Ministry in 2023, around 6.5 lakh families in Delhi are eligible

UK-based Bupa likely to increase stake in Niva Bupa Health Insurance

Finance Minister Sitharaman recently announced a hike in FDI limit in insurance sector from 74% to 100%

Health insurance for elderly; luxury gifts: Top personal finance stories

Our newsletter this week has stories on why health premiums for senior citizens are rising and how couples are celebrating Valentine's Day

Health insurance for senior citizens is expensive: Here's what they must do

Those who find premiums unaffordable should go for a plan with deductibles

Key information about health insurance plans compiled in one table

Know about eligibility, key features, premium amount, benefits and discounts

Budget 2025: How 100% FDI will benefit the Indian insurance industry

The government seeks to fully unlock the potential of India's insurance industry, and has announced opening up of the sector to 100 per cent FDI

Sebi mulls combo product of term life insurance, mutual funds for investors

Capital markets regulator Sebi is planning to come out with a new combo product under which mutual funds can pair investments with life insurance, its chief Madhabi Puri Buch said on Friday. She, in an event organised by ICAI, revealed that the regulator will soon come out with a consultation paper on the proposal. Currently, many financial products already bundle insurance and investment options together. Sebi is working on a new product under which investors will have an option to pair mutual fund investments with life insurance. The product is central to the regulator's mission of expanding financial access, especially in underserved areas. Buch, whose three-year term ends on February 28, explained that the initiative seeks to address the needs of investors, particularly in rural areas, where there is a significant potential to grow systematic investment plans (SIPs), but the current value of investments remains low. Through this product, she hopes to provide a more attractive,

Over 2 in 3 health insurance holders confirm premiums up 50-200% in 3 years

Over two-third of policyholders have seen their insurance premiums increase by 50 to 200 per cent over the past three years, revealed a survey by Localcircles.

Irdai caps senior citizens' health premium increase at 10% per annum

Steep rise in health insurance premium of senior citizens has been engaging the attention of Irdai and is a regulatory concern, Irdai said

Claiming health insurance from multiple companies: How to do that

Subscribing to multiple companies helps people whose single policy's sum insured is insufficient to cover the full cost of medical treatment

Budget 2025: Insurers seek tax benefits, concessions for healthcare

Insurers are hopeful of a host of tax benefits, including concessions for the insurance and healthcare sectors, from the Union Budget 2025-26 to be unveiled by Finance Minister Nirmala Sitharaman on February 1. SBI General Insurance MD and CEO Naveen Chandra Jha said that as India advances toward financial inclusivity and universal healthcare, the upcoming Budget is expected to further strengthen the healthinsurance sector. Initiatives like Bima Sugam, designed to achieve the goal of 'Insurance for All' by 2047, are expected to receive regulatory and fiscal support to address the protection gap, he noted. "Additionally, the budget is likely to focus on expanding access in underserved regions through government-private partnerships, targeted subsidies, and advancements in digital infrastructure," Jha added. Bajaj Allianz Life MD and CEO Tarun Chugh said India's economic growth presents immense opportunities for the insurance sector to enhance financial resilience. "Aligning tax ...

Key Considerations When Buying Health Insurance for Pre-Existing Conditions

When purchasing health insurance, if you have a pre-existing condition, don't forget about waiting periods, premium loading, coverage limits and transparency.

HMPV virus in India: Does your health insurance policy cover outbreaks

HMPV is not a new virus and health officials have also advised the public not to panic