I am 28 and earning ₹6 lakh annually. I have term insurance of ₹60 lakh. I also have health insurance of a family floater of ₹5 lakh covering me, my wife and our 3-year-old daughter). Now, I came to know about critical illness insurance. Which aspect should I take care of while purchasing critical illness insurance? …
As millennials, it’s commonplace for us to prioritise our personal financial aspirations. However, amidst our pursuits, we must recognize the financial security of our younger siblings, who may still need to gain the maturity or resources to secure their own financial futures. Rather than solely indulging in fleeting pleasures like gadgets or social outings, we …
Age-point premium Most health insurance products in India follow the slab-based premium pricing. It means the premium remains the same for those in 31-35 years age group and changes when the policyholder turns 36 years old. The sudden premium hike in most plans may appear steep to policyholders. What is unique about Optima Secure is …
What is a reasonable and customary clause in health insurance? Can an insurer use this clause to reduce the claim? My policy doesn’t impose room rent limits, so I chose a suite at the hospital. However, the insurer deducted a significant portion of the claim, citing a package deal with the hospital for a single …
Wide range of options Many health insurance companies provide a wide range of plans, making it challenging to effectively compare features and prices without the use of online resources. Insurance agents often work for specific companies, so their suggestions may lean towards the plans offered by those companies rather than what might be the most …
A few days ago, I read a news story about a cancer survivor’s struggle to get an insurance claim for a targeted therapy using Trastuzumab. She was successful in getting a partial claim after a legal battle. Despite it being a victory, in most cases, it often does not feel so for the policyholder. Health …
ICICI Lombard has introduced a groundbreaking integrated media initiative called “Game of Life”. This pioneering concept in the insurance domain combines the excitement of gaming with the practicality of insurance. Departing from the conventional use of celebrity endorsements and traditional marketing strategies within the industry, this campaign leverages the captivating allure of virtual games. This …
This was revealed in a study titled ICICI Lombard’s report on emerging trends in health insurance with focus on taxation benefit. At the same time, individuals aged 26-45 make a greater set of investments, the report states. The preference for health insurance as a tax-saving option is on the rise in non-metro areas, emphasising its increasing appeal beyond …
Health insurance needs to be a critical component in your financial plans. That helps you meet any exigency, say financial advisers. It becomes even more important if there are elderly dependents in your family. At the same time, such health plans that cover senior citizens do not come cheap. Premiums have risen sharply, in tandem …
The increasing expenses associated with healthcare and health insurance pose significant worries for individuals globally. For many, the financial strain of healthcare can be daunting, potentially overwhelming them. Elevated costs may further restrict access to essential care, especially for those with lower incomes and families. Such limitations can worsen pre-existing health disparities, contributing to avoidable …