In a country where home remedies are very common and a large number of people have faith in Ayurvedic treatment and Homeopathic treatment-Is it not surprising that Insurance companies do not cover these systems of treatment?Now the change is coming.Iffco Tokio now covers Ayurvedic treatment while for post hospitlization treatment Star Health will cover the Homeopathic treatme...
Monday, 24 September 2007
Sunday, 23 September 2007
Star Health and Allied Insurance Company, is all set to offer India’s first-ever insurance policy for HIV patients, based on the stage of the disease. This is a news,which brings comfort to those wo have been suffering from this disease ,which needs expensive medicines for treatment.Patients with HIV, who were so far denied medical insurance, will now have the comfort of applying for health cover. The insurance policy for HIV patients, will be issued on the stage of the disease. The company will tie up with 1,800 hospitals and labs to conduct the...
We are feeling the impact of market economy in a big way as ICICI Lombard has introduced a new health insurance product called Health Advantage. This is the first product to cover OPD bills paid for consulting doctors/dental treatment expenses/ over the counter purchase of medicines and orthopaedic treatment. It also covers surgeries, accidents and sudden illnesses that usual health insurance products do not cover.Naturally nothing comes free in this world and you have to pay a cost for the everything which is worthwhile.But all this is at a cost....
Wednesday, 19 September 2007
For motor insurance India used to be divided into 2 zones.But for health insurance New India has divided India into 3 zones;Zone 1 MumbaiZone 2 Delhi/BangaloreZone 3 Rest of IndiaThe question arises ;As the difference between rates for 3 zones is very small,is it worthwhile to have 3 rates?A person from zone 3 wishes to go to Delhi or Mumbai for treatment because facilities are not available in his home town in zone 3.Will he be permitted to undergo treatment or not?A person from zone 3 goes to Mumbai and claims I am visiting Mumbai-will he be...
Sunday, 16 September 2007
India is a large country .IRDA has special rules for setting up of health insurance co's by putting in equity of Rs. 25 crores vs Rs. 100 crores required for setting up of a normal non life insurance co.In 2 and a half years time only 2 health insurance co's started working in India.What can be the reasons?1 Shortage of funds -No.I do not believe .In our country even movies are being produced with investment of more than Rs. 25 crores2 Unattractive as a business-With population of 110 crores,every business is boomimg,GDP growth @ 9.3% (I do not...
Friday, 14 September 2007
For a long time we have been habitual of near to 100% cost of hospitalization being paid by the insurance co.National Varishta Bima( senior citizens)has introduced 10% as co pay ,which means 10% will be paid by the insured and rest by Insurance co.Star Health has this fugure at 30 %(with medical examination ) and 50% (without medical examination ).This is a big change for all of us.Insurance co's feel this will result in control on the costs as insured will be conscious of the costs.Let us see how other co's adopt this conce...
Wednesday, 12 September 2007
Business Standard (Sep 13, 2007) has carried the following photo;None of the health insurance policy issued to us covers the cost of helicopter medical evacuation.It is surprising that overseas travel policy issued by various co’s carries sum assured of USD 5,00,000 ( Rs 2 crores+) and in emergency helicopter medical evacuation is also covered/ paid for.Within India Rs 10 lakhs is the max sum assured possible with Cholamandalam.New India is also...
TOI (Sep. 13, 2007) has carried an interesting news item according to which“In 2005 alone, the estimated loss to our national income from diseases like heart ailments, strokes and diabetes, was a staggering $ 9 billions (Rs. 37000 crores)Over next 10 yrs, India may lose more than $ 200 billions (Rs. 8, 00,000 crores)due to employee’s sickness. Some firms are already losing about 14% of their annual working days -51 days /year.Very interesting to note that in India health insurance premium collected during 2006-07 was Rs 3300 crores,which means...
Subscribe to:
Posts (Atom)
