Facts Indian Health Insurance 2010IRDA has released statistics pertaining to Indian Health Insurance Industry for the year 2008 -09 and some of the facts are:This is the truth. If you do not agree the do let us have your commen...
Monday, 31 May 2010
Thursday, 27 May 2010
Health Insurance Policy with sum assured of Rs 50 Lakhs seems to be a favourite number of Indian Insurance Companies – Yes the time has changedMax Bupa made the beginning in our country by coming up with Health Insurance Policy for maximum sum assured of Rs 50 Lakhs and within few weeks it has been able to sell 15 policies. This shows that there was an unfulfilled demand for such product. May be the initial success of this product has appealed so much to other insurance companies that now we hear:•New India Assurance•Apollo Munich •Iffco Tokioall...
Wednesday, 26 May 2010
Some time back I had mentioned that we went on hearing for portability of mobile phone numbers and nothing has happened for many years.The players come out with some excuse and it gets deferred.Let us hope this does not happen with portability of health insurance.The proposal received by the Regulator has the following conditions ;Sum assured Rs 1 lakh onlyEntry age -upto 40 onlyWe understand that Regulator wish is Sum assured upto Rs 2 lakh Entry age -upto 60 years Proposal is going back to General Insurance Council.Let us hope it comes back with...
Monday, 17 May 2010
As predicted by us vanilla product will be introduced by all general insurance / health insurance companies in near future as the product details are being sent to IRDA. New health insurance product to be sold by all companies will have following features:•Max sum assured – Rs 2 Lakhs only•Preexisting diseases will be covered after 4 years •Max entry age will be 65 years•No claim bonus – Reduced premium or increased sum assured will be given. Companies like Oriental will have to change their policy of not giving benefit to the customers as far...
Monday, 10 May 2010
Health Insurance is an important part of Indian Insurance market and it portfolio which growing at the highest rate. Therefore various proposals are under consideration at different levels with IRDA, Insurance Companies, Government Agencies & Corporate bodies. According to newspaper reports some of these are:-17 General Insurance Companies and 3 Health Insurance companies are at present selling health insurance. During 2009-10 premium figure is estimated to have touched Rs. 8100 crores. (1)- Number of stand alone Health Insurance companies...
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