Employer or Company Group Health Insurance Plan is usually a group insurance, which covers all the employees in the organization. Group policies are usually cheaper than individual policies. Employer or Company Group Health Insurance Plans offer good benefits to employees covered by it. In a country like ours wherein health insurance is still not 'demanded' by a large audience, such a scheme helps especially when disaster strikes. The good thing about the scheme is that the 'cost' … [Read more...] about Employer / Company Group Health Insurance Plans – Don’t rely entirely on it
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Section 80D offers one of the best tax-saving benefits in India, which specifically provides deduction in taxable income to the extent of premiums paid on purchase of health insurance or medical insurance / mediclaim products. A really wonderful feature of this deduction is that it even includes the premiums that you pay for the health insurance of your parents, children and other family members. Not just that, tax benefit under Section 80D is over and above benefits under other sections such as … [Read more...] about Section 80D – Get Tax Benefits on Health & Medical Insurance
If you are on the lookout for health insurance, you would have surely encountered the concept of Family Floater Health Insurance Policy. This article explains how this kind of health insurance policy works and how it can benefit you and your family. You can then decide whether to go ahead with it or some other type. In an individual health insurance policy, each person is covered only to the extent of his/her policy cover limit. However, in a family floater health insurance policy, … [Read more...] about Family Floater Health Insurance Policy – Benefits Explained
This article on types of Health Insurance plans is going to be a long but important one. And it is strongly recommended for reading if you are looking to buy a health insurance plan or mediclaim, shortly. Choosing the right health insurance plan (or mediclaim or medical insurance) can be a lot tougher than say, choosing a term insurance plan. And there are 2 simple reasons for this. 1. You are inundated with choices of variants in health insurance, with each company deciding their own … [Read more...] about Health Insurance Plans – Several Types to Choose from
We presume you have already had a look at the Claims Settlement Ratio for Health Insurance in India for 2013-2014. And you must have already had some companies in mind by now. Good. But CSR for Health Insurance Claims alone is not good enough. Also important are... 1. How soon does the company settle the Health Insurance Claims? 2. What is the average claim amount? 3. And of course, the product features and coverage. So here is our analysis on Health Insurance Claims … [Read more...] about Health Insurance Claims – Which companies settle the fastest?
IRDA Claims Settlement Ratio for Health Insurance or Mediclaim is the total no. of health claims approved by the insurance company divided by the total no. of claims filed by customers. Claims Settlement Ratio (CSR) shown here is different from Incurred Claims Ratio (ICR) published by the IRDA, which is just the ratio of total claim amount to total premium collected. ICR does not tell us what % of claims are approved or rejected. So in our view, CSR is a much better indicator for customers … [Read more...] about Claim Settlement Ratio for Health Insurance in India 2013-2014