Documents needed for filing claim under 3rd party claim for accident to MACTFollowing documents should accompany the petition for filing claim under 3rd party claim for accident to MACT:1. Copy of the FIR registered in connection with said accident, if any.2. Copy of the MLC/Post Mortem Report/Death Report as the case may be.3. The documents of the identity of the claimants and of the deceased in a death case.4. Original bills of expenses incurred on the treatment along with treatment record.5. Documents of the educational qualifications of...
Monday, 26 March 2012
Should Insurance Companies reward customers having good eating habits?Scientific studies reveal that there is a definite correlation to what we eat to our health conditions. Lot of research is going on and there have been many studies which have established this correlation. Recently, we have come across two different studies which have shown that the two most deadly diseases especially are related to the lifestyle and prove have definite correlation to what we eat.Study 1 “Soft drinks raise heart attack risk”.“Drinking one sugar laden soft drink...
Monday, 19 March 2012
Government wishes PSU banks going to exit from Insurance, which is a non core activity.Everyone one wants to diversify when times are good but when the times are tough there is heat to squeeze. The banks have been asked by the government to get out of non core business such as Insurance. It could be a big blow to banks if this is implemented. Some of the banks would have to exit joint venture and industry would be seriously hampered, considering the agency model for insurance is under question due to high attrition and lack of professionalism.As...
On April 1, 2012 the service tax on health insurance premium would increase to 12.36% from the existing rate of 10.30%. It means that you have to pay a higher premium. For example if you pay a premium of Rs. 20,000/- for the health insurance premium, this is how you will be impacted:Let us take elaborate this example. Total premium payable during this 2 years period is Rs 44,532 (Rs. 22060 + Rs. 22472) assuming that you decide to buy it before April...
Thursday, 15 March 2012
Health Insurance may Touch Rs. 141500 crores if all are coveredIn my blog of 1st February,2010 I had come out with a suggestion that all senior citizens should be asked compulsorily to go in for health insurance so that this portfolio increases. For initiating this great initiative, Government can support the scheme initially with some subsidy and later on reduce the same.Hindustan Times has covered the news according to which now Indian Government...
Wednesday, 14 March 2012
The Restore Option – New terminology in Family Floater Health InsurancePeople often asked me whether I should go for Individual policy for family members or should I go for Family Floater. Our answer had been consistent, If you can afford, then individual policy would be better especially, if the policy includes people of higher age. Most people would abide by our recommendation and buy family floater for young family (immediate family consisting...
Friday, 9 March 2012
Health care costs will go on going up as the price of real estate goes up in New Delhi & other Metro cities. It is interesting to see ad of Delhi Development Authority (Government body controlling land in the capital city of India- Delhi/ New Delhi) which has advertised for plots for:HospitalsNursing HomesPolyclinicsin different parts of Delhi state.You can look at sr. no. 2 where reserve price for 6 Hectar plot is Rs.464 crores. Assuming 500...
Take up your claim with Insurance Ombudsman- There are good chances of SuccessRIA Insurance Brokers Pvt. Ltd. has always stood by its customers and helped them to get settlement of health insurance claims from insurance companies and their TPAs. In a recent case one of our client’s claim was rejected by the Insurer on the ground that the insured was not required to be hospitalized for abdomen pain. Furthermore, they contested that the insured should not have ever gone to hospital for such pain. The claim amount for hospitalization was Rs 18,732/-.We...
Thursday, 8 March 2012
This is the most common question we come across from customers. The answer is yes as well as no. No, because most of the companies do not cover maternity under individual or family floater policy .Yes, because some companies cover this but with conditions .Let us have a look at this .Apollo Munich covers from 7 th year ,which means you should have been having the policy in existence for 6 years.Max Bupa covers from 3rd year.L& T covers from 5 th year.Yes there are limits & sub limits, which one should keep in...
Wednesday, 7 March 2012
Have you faced inconvenience in using Health Insurance portability within the company and within the city?We appreciate the concept of health insurance portability which was introduced by IRDA in October 2011. As a result a policy holder can shift from one insurance company to another insurance company within the city and within the country without losing the benefits accrued on the previous policy. Those who have shifted their policy in recent months are having a feeling of satisfaction. However, in case of public sector companies such as National...
Is prosecution of officials of National Insurance right step?According to a news item- 3 officials of National Insurance are to be prosecuted.Is it a right step? It can happen for those who are working for PSU’s then why not for those who are working for Private Companies? Does it curb innovation, motivation to take decisions? Is it that those who do not take any decision get promoted because their track record is clean? Your comments are invit...
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