Should premium be calculated on completed age or running age basis?Most of the Insurance Companies take completed age in calculating premium.On Aug 16, 2007 New India Assurance Company Ltd. had switched over from completed age to running age concept.At present this type of information is not advertised in the form of a statutory ad therefore no one comes to know about this.Mr. B K Shah, a medical practitioner for Mumbai realized the difference due to change over at the time of renewal of his policy and took up matter with New India.Rucha has...
Friday, 16 May 2008
Wednesday, 14 May 2008
Punjab, Uttrakhand and Bihar also to cover health insurance of poor families
Posted on 23:04 by Unknown
It is nice to know that more and more poor families are being covered under health insurance policies being issued by state governments and Insuarnce co's.The contracts have recently been awarded by these states;Punjab - New India Assurance co. Ltd.Uttrakhand - United India Insurance Co. LtdBihar - Oriental India Insurance Co. LtdThe states which have already implemented this policy are Rajasthan, Haryana and Delhi. According to our information these states and concerned insurance co’s have started distribution of smart cards.Bids are expected...
Tuesday, 6 May 2008
Contradiction between definition of a family
Posted on 03:02 by Unknown
The Sixth Central Pay Commission (CPC) in its report has said, “Presently, the definition of family for the purposes of LTC includes parents and/or stepmother residing with and wholly dependent on the Government employee. Stepfathers residing with and wholly dependent on the Government employee are denied the benefit available to similarly placed stepmothers. The definition also places an unreasonable restriction in such of those cases where parents, despite not having any source of income and being totally dependent on the Government employees,...
Are Indian Pvt health Insurers blocking payouts ?
Posted on 02:33 by Unknown
The Economic Times of May 6,2008 has carried part of the report released by USAID .The contents are ;INDIAN health insurance is growing by 25% every year, it’s penetration is less than 0.02% of the GDP, yet there is no expertise on the sector, says USAID report.The report, released on Monday, to study the impact of private life insurance on health coverage in India has said that the focus in India is on controlling claims pay-out by following strategies designed to minimise insured person’s ability to collect claims. “There is excessive emphasis...
Thursday, 1 May 2008
Reliance stops health gold policy
Posted on 07:23 by Unknown
Reliance has stopped issue of Health Gold Policy.They will continue to issue standard & silver policy. The salient features of Gold were;1Higher sum assured2 Critical illlness also covered We feel that this was a good policy but one can assume that this was not a profitable product and that is why it became necessary for them to withdraw this product. A quetion before we the consumers is '' Should it be made mandatory for Insurance co's to release an ad informing the fact that they are withdrawing a specific product?'' Your comments are invited....
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