If you don’t want to spend much on car insurance and need it merely to fulfil the legal prerequisites, a third-party cover is an ideal choice
All stakeholders, both in public and private sector, have to ramp up efforts to make insurance a key pillar of survival, just like food and clothing.
Consuming alcohol within the admissible limit is fine with insurers, but extreme drinking can create problems leading to claim rejection.
Insurance companies increase the sum assured based on the health of the policyholder while buying the policy.
The old term insurance policy can be revived after paying the lapsed premium along with interest charges and medical costs.
Incurred Claim Ratio (ICR) is the total value of every claim divided by the total premium collected by the insurer during a particular time period
It is critical to note that insurers don't offer job loss insurance as a standalone benefit. It's an add-on facility
Mortality charges depend on the sum assured minus the fund value. This is also known as the sum at risk
In health insurance, a no-claim bonus is primarily the money added to the sum insured for each year without a claim.
Insurance companies use third party administrators to settles cashless claims availed by the policyholders during planned or emergency hospitalisation