health insurance

  The rising costs of healthcare have made medical insurance providers sit up and take notice of the need for coverage that keeps up with the times. Thus, insurance companies now offer many new types of health insurance products and add-ons to truly give holistic financial protection during a medical emergency. One such product is the daily hospital cash rider that can be added to a health insurance plan . If you are new to the concept of this particular rider, read on to discover why you should definitely consider opting in for it. What does the daily hospital cash rider do? Even though you have a health insurance plan, there are some medical charges that do not get covered during a hospitalization. These can include the costs of certain medical accessories, daily transport of your family members to and fro as they tend to your needs, and even meals ordered apart from what the hospital provides. The daily hospital cash rider helps you in paying for all these surplus – yet essentia

  Having health insurance extremely important. When an individual is affected by an illnesses and needs be hospitalized for extended periods of time, a quality health insurance policy will ensure that all the costs are taken care of. However, there are certain medical procedures & conditions that do not require hospitalization but can still take a person’s financial wellbeing. Fortunately, the best health insurance plans will offer protection against such expenses as well. This is possible through the OPD (Outpatient Department) cover which provides coverage for outpatient expenses incurred by the policyholder. Here are some of the most common expenses that fall under the OPD cover of your health insurance policy. 1) Medical Consultation: There are several occasions when an individual might have to consult a doctor regarding their medical condition. These consultation charges can be quite steep. Also, there are times when regular medical consultation is required, thereby incre

  Accidents can happen to anyone. Whether you head out to work daily or are at home, you are at possible risk of a mishap. And, a single unfortunate incident that sees you sustain a major fracture can prove extremely costly. Which is why, you must secure yourself with a personal accident insurance plan. A personal accident insurance plan covers you against death, permanent total disability, permanent partial disability, and temporary total disability after an accident. The payout received from this plan can go towards helping you meet your financial responsibilities. Now, many people often feel that only the breadwinner of the family who goes to work each day requires personal accident insurance. Hardly anyone seems to focus on the fact that seniors living at home too require the protection that this plan can bring. In this article, we take a look at why senior family members too require coverage from personal accident insurance. 1.       Death benefit If the insured person meets an a

  Health insurance can be a real saviour in case of a medical emergency! A good policy will ensure you never have to worry about the cost of treatment and that you focus fully on getting better. You just get to a cashless hospital that is covered under your policy and everything is taken care of for you. But have ever stopped to wonder how things are so streamlined and simple? Well, a lot of credit for the seamless experience goes to Third Party Administrators, or TPAs as they are better known. This article will explain what TPAs are and tell you what their role is in health insurance . Read on to know more! So, what are TPAs? TPAs are IRDAI authorised bodies that act as intermediaries between you and your insurance company. They provide a host of services on behalf of your insurance provider and ensure you have a smooth claim process. Claims assistance: Topping the list of important things that a TPA does is claim assistance. In case of a cashless claim, all you need to do is inform t

  A single hospitalization that stretches more than a week is usually enough to wipe your savings clean. The only way by which you can receive the best in medical care while also protecting your hard-earned money is by opting in for health insurance. Indeed, health insurance holistically protects your physical, mental, and financial well-being. Now, buying health insurance for the first time can be a bit confusing. While reading the fine print, you may come across several terms that might seem alien to you. You might feel tempted to just skip the jargon; however, doing that would leave you with incomplete information. And, that is not ideal when buying something as important as health insurance. Two of the most common terms in healthcare and health insurance that are often the subject of confusion are day care procedures and OPD. In this article, we aim to help you understand the differences between these two terms in healthcare and how your insurance covers them. Day Care Procedu

  The COVID 19 pandemic brought the world to a standstill for the better part of 2020. High rates of infection have pointed out to the many gaps existing in healthcare systems around the world. Attention was also drawn to the gaps in current health insurance policies when dealing with the new demands of this disease. To deal with the situation, the IRDAI (Insurance Regulatory and Development Authority of India) has made it mandatory for all insurance companies to offer a standard form of coronavirus-specific health insurance   called Corona Kavach Policy. This health coverage plan promises to bring much relief from the soaring medical expenses that arise due to hospitalization from a COVID-19 health complication. Let’s take a closer look at what the Corona Kavach Policy offers you. What does the Corona Kavach Policy cover? The Corona Kavach Policy covers illnesses related to infection from the novel coronavirus. The coverage includes: ·          Pre-hospitalization expenses up

  In life, it is always good to have a plan B ready in place if things do not happen as they should. This plan B is actually your backup that offers you peace of mind. For instance, when appearing for an important examination, you would not simply carry along a single pen. You would have a second pen too just in case the first one stopped midway. We have to apply the same logic of having a backup in place when it comes to health insurance. In health insurance, your backup plan is simply referred to as a top-up plan on your medical insurance policy . Just like your spare pen comes in handy when the first one gives up midway, your top-up plan kicks into action when the coverage of your health insurance policy runs out. Now, if you are new to health insurance, you might not have heard of top-up plans at all. Or, you might have heard about these plans in passing but have no proper clue about the benefits they offer. Don’t worry for this article will take you through a few basics of top-up

  Illness can strike anyone irrespective of their age. This is why it is extremely important to buy health insurance for all the immediate members of your family, including your children. Now, getting individual health insurance plans for each member of your household can prove to be quite tiring. These individual plans might also fall more expensive for you. To help you easily get medical coverage for all your loved ones, health insurance providers offer family floater plans. Family floater health insurance plans allow you to cover all your immediate family members under a single policy. So, if you are about to buy medical coverage for your whole family, a family floater plan is the right way to go. Before you go ahead and buy your policy, read on for a few things you need to keep in mind about this type of health insurance plan.        You need a high sum insured In a family floater plan, the sum insured is shared by all the members covered. Thus, it would be advisable to op

  The rising number of COVID 19 cases has drawn attention to the need for health insurance, especially among those who do not already have coverage. Keeping this need in mind, the IRDAI (Insurance Regulatory and Development Authority of India) launched two health insurance products that are specific to offering coverage for the treatment of COVID 19. These two health insurance policies are Corona Kavach Policy and Corona Rakshak Policy. The Corona Kavach Policy is an indemnity-based insurance plan that covers treatment for COVID 19 at a hospital or even at home, under a valid claim. The Corona Rakshak Policy is a benefit-based plan that pays the policyholder a lump sum under a valid claim. This payout can be used for any expenses arising due to COVID 19 treatment. Now, the Corona Kavach Policy and Corona Rakshak Policy are two new types of health insurance plans. Therefore, it is important that one understands the complete detail of coverage. This will help to avoid any confusions

  As per the Motor Vehicles Act, 1988, it is mandatory for every vehicle to have at least basic car insurance. This basic coverage refers to a third-party car insurance policy. However, it makes sense to go a step ahead by opting in for comprehensive coverage, including add-ons, to holistically protect your finances in the event of a mishap or calamity that sees you and your ride suffer damages. A trend shows that many motorists who have older vehicles (aged 5 years or older) often do not see the point of opting in for comprehensive coverage. Yet, this is a big mistake and can cost you heavy. If you have an older vehicle, you do need to protect it with comprehensive car insurance coupled with smartly chosen add-ons. Most vehicle insurance providers offer car owners a long list of add-ons to choose from. This exhaustive list is indeed a boon but might also make for a difficult choice when it comes to covering a car that has aged a few years. You might wonder if there are certain add-

  COVID 19 brought the world to a standstill in 2020. Even though lockdowns were enforced in an effort to curb the spread of infection, healthcare systems still were overburdened with cases. Attention was also drawn to the fact that most people lacked health insurance coverage. This gap in insurance saw many exhaust their hard-earned savings while receiving treatment for COVID 19. In an effort to ensure that everyone can get insured against COVID 19, the IRDAI asked all insurance companies to launch standard, short-term health insurance products for coverage against COVID 19. All insurance providers will have the same names and features for these products as set by the IRDAI. This uniformity will ensure that people can buy coverage with minimal confusion in these difficult times. The two policies thus launched are the Corona Kavach Policy and Corona Rakshak Policy. Let’s take a quick look at the main differences between these health insurance products from the IRDAI:           T