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The standard personal accident insurance policy offers three mandatory covers - death, permanent total disablement and permanent partial disablement
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According to General Insurance Council (GIC) data, insurers have received 15.32 lakh Covid claims until May 20, 2021 amounting to Rs 23,715 crore. Of this, 12.59 lakh claims worth Rs 12,133 crore have been settled
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It is very important to strike the right balance as high copayments can strike you hard at the time of crisis
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According to IRDAI, the insurer will have to pay the reimbursement amount within 30 days of receiving the last set of necessary documents for settlement
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Credit cards offer many types of free insurance covers such as zero lost card liability, air accident cover, personal accident policies, among others
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From June 1 all general insurers have to send a renewal notice one month before the expiry of the policy, including the premium amount due
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The reinsurance proportion of mortality (sum assured) in India remains high, transferring out most of the risk to reinsurers
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Insurance companies have now started focussing on wellness programs with an aim to incentivise people to adopt a healthy lifestyle
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TPA's role is crucial from checking documents, cross-checking details to approval of cashless treatment
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Under PMJDY, a Rupay Debit card is provided to account holders. In 2018, the Centre enhanced the accidental insurance cover under the Rupay scheme for Jan Dhan account holders