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Tuesday, 25 March 2008
New India starts sale in health insurance by offering 5% to 10% discount
Posted on 10:56 by Unknown
Various Insurance companies increased the premium by following each other.There has been heartburn and criticism in blogs,press & electronic media.Even IRDA had to issue the instructions in this regard.It is nice to know that New India has announced the following discount structure for those going in for renewal of the policy without making any claim in the current year.Mumbai 10%Delhi/Bangalore 7.5%Rest of India 5%We feel there is scope in management of the hospital expenses,negotiating for rates for surgeries,going in for special rates for...
Wednesday, 19 March 2008
IRDA ASKS PSUS NOT TO FORCE ELDERS TO SWITCH TO NEW HEALTH PLANS Mumbai, March 17, 2008The Economic Times (Delhi edition) The Times of India (Delhi edition) Insurance regulator Insurance Regulatory and Development Authority (IRDA) has asked state-owned insurance companies not to force senior citizens to switch to a new health insurance plan with lower benefits at the time of renewal of policies. The regulator has reiterated that insurers cannot raise rates on mediclaim policies by more than 50-75% of the previous year’s premium, following an...
Thursday, 13 March 2008
IRDA tells Insurance co's to not to overcharge elders for health insurance
Posted on 00:54 by Unknown
The Business Standard has covered an interesting news item regarding over charging of senior citizens for Health Insurance by the Insurance companies.We find the heading of the newsitem''Don’t overcharge senior citizens, Irda tells insurers '' very bold and interesting.The insurance Regulatory and Development Authority (Irda) has warned all public sector general insurance companies to not to charge higher premium from senior citizens on medical insurance policies or mediclaim. According to industry sources, a leading public sector general insurance...
Wednesday, 12 March 2008
Delhi Govt to start HEALTH INSURANCE SWASTHYA BIMA YOJNA
Posted on 23:21 by Unknown
According to The TribuneThe Delhi Cabinet has also decided to launch “Rashtriya Swasthya Bima Yojna” (RSBY) next month. The decision was taken today in a cabinet meeting presided over by Chief Minister Sheila Dikshit. While briefing media after the meeting, Dikshit stated that the RSBY would soon be launched in Delhi with an aim to provide health cover to around 4.40 lakh workers who have been issued BPL ration cards in Delhi. Most of these persons have been working in the unorganised sectors. It is meant for providing quality health cover to...
Are IRDA panel’s recommendations for securing health cover for senior citizens being swept under the carpet?
Posted on 23:17 by Unknown
The Economic Times has covered a news item giving impression thatIRDA panel’s recommendations for securing health cover for senior citizens being swept under the carpet? The report was submitted almost three months ago and senior citizens want it to be implemented. But the Budget has remained silent on the recommendations while IRDA has merely forwarded the report to the General Insurance Council.To make things worse for elders, insurance companies are now denying that there is any order from the regulator to cap mediclaim rate hikes at 75 per...
Health Insurance Products from Max New York Life
Posted on 23:11 by Unknown
All news papers have carried the news item that Max has entered health insurance field.It has announced the launch of Lifeline series of insurance policies bringing long term insurance coverage for hospitalisation, surgeries and critical illness. According to Managing Director and Chief Executive Officer of Max New York Life Insurance, Gary Bennet, the policies have some significant “firsts” to its credit. Director, Marketing (Product Management and Corporate Affairs), Debashis Sarkar, said the policies come with fixed premiums for a five-year...
Buy TVS Auto rickshaw and get Health Insurance cover
Posted on 23:07 by Unknown
The Hindu Business Line has carried the news item that those who will buy TVS auto rickshaw will get health insurance policy for sum assured of Rs 30,000TVS Motor Company (TVSM) has formally launched its debutante autorickshaw TVS King, in LPG and petrol versions, marking its foray into the three-wheeler market. During the launch TVSM has also announced several welfare schemes for the autorickshaw drivers and their families, including a one-year free accident and healthcare policy. TVSM has tied up with few insurance companies for this and the...
ESIC is also covered under Consumers Protection Act
Posted on 23:02 by Unknown
The first question arise after reading this news item is tht ESIC use the word Insurance then why it is not covered under IRDA.DNA has covered a news item according to which''Consumer courts have been given additional role by the government and the judiciary under the Consumer Protection Act (CPA), 1986. In a recent order of the Supreme Court of India, Employees State Insurance hospitals have also been included in the ambit of justice given by Consumer Courts. This was the order in the case of Kishore Lal vs chairman, Employees State Insurance...
Kerala health insurance will cover those who are above the poverty line
Posted on 22:54 by Unknown
The Hindu Business Line has carried news that Kerala will be the state which will offer health insurance even to those who are above the poverty line.Is this that we have started diluting the scheme which has been developed by the Government of India for those who are coming under BPL.The General Insurance Officers All India Association (GIOAIA), Kerala unit, has appealed to the government to implement the comprehensive health insurance scheme through one of the public sector general insurance companies only. Hailing the Kerala Budget proposal...
KOTAK LIFE IS ALSO ENTERING HEALTH INSURANCE
Posted on 22:50 by Unknown
Kotak Mahindra Old Mutual Life Insurance Ltd, has also decided to launch a standalone health insurance scheme in the first half of the next fiscal. Till now, Kotak has been offering health schemes only as riders to its life insurance policies and this new scheme would be a standalone one, according to Arun Patil, company's senior vice- president for training and management. "This standalone scheme would cover as many diseases and eventualities as possible," he told reporters. Kotak would begin negotiations with hospitals for this scheme after this...
Wednesday, 5 March 2008
Will the floater health policies miss the tax benefits
Posted on 01:57 by Unknown
The Economic Times has carried a news item according to which tax benefits may not be vaialble to those who are having family floater health policies.According to Debjoy Sengupta''Do you hold a floater mediclaim policy that covers you, your spouse, your kids and your parents? Well contrary to belief, you may not be able to claim the new benefit under Section 80D of the income tax that lets individuals covering parents to avail of an additional tax benefit — Rs 20,000 for parents who are senior citizens and Rs 15,000 for parents below 60 years....
New India pays penalty for not renewing the health insurance policy
Posted on 01:28 by Unknown
The Hindu ,has carried the following news item.The Madras High Court has imposed a fine of Rs.10, 000 on New India Assurance Company for refusing to renew insurance policies of a septuagenarian couple because their son had shifted the policies of other, relatively young, family members and his employees to a private insurer. Dismissing a writ appeal filed by the company before the Madurai Bench, a Division Bench, comprising Justice A. Kulasekaran and Justice P. Murgesen, said such arbitrary denial would defeat the objective of medical claim insurance...
Tuesday, 4 March 2008
Senior Citizens Health Insurance -should it come under pool
Posted on 09:17 by Unknown
Senior Citizens Health Insurance -should it come under pool ?This idea is being considered by IRDA as well as Insurance companies in the light of the fact that claims ratio is high.The same plea was used when third party insurance of vehicles was being considered.The service level which the Indian Customer is getting with respect to third party insurance cover of 2 wheelers is well known.Let us be prepared with same thing in the case of health insurance of senior citizens .With no insurance intermediaries in between we foresee less number of proposals...
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