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    • Senior citizens are not availing health insurance due to high premiums

      Senior citizens, at a time when they should have a health insurance policy to help them during any kind of emergency or ailment, are not opting for one due to higher premiums. Moreover, even insurers are not always that keen to offer health insurance plans to senior citizens as it increases loss ratios for them.

      Insurers usually add strong underwriting checks to filter out the potential claim-prone cases. In other cases, insurers also avoid giving health insurance policies for patients who are suffering from diabetes, blood pressure or even cholesterol.

      The premiums for senior citizen health insurance are high, which results in the considerable outlay of cash. However, with age and the higher probability of medical contingencies, it is important to have a health insurance plan. Even with higher premium payments, it is better to have insurance rather than paying way more in the case of any emergency in hospital bills.

      18 October 2019

    • Free health insurance provided with FD by ICICI Bank

      On 14 October 2019, ICICI Bank introduced the FD Health where a dual benefit of free critical illness cover along with a Fixed Deposit (FD) is provided. The critical illness cover comes with a sum assured of Rs.1 lakh.

      According to Pranav Mishra, the Head of Retail Liabilities of ICICI Bank, this type of offering is the first in the industry and provided the benefits of an FD along with a critical illness cover. He further added that 33 critical illnesses will be covered for a duration of one year with a sum assured of Rs.1 lakh to the account holder of the FD. In case of any medical emergencies, an individual’s personal savings are first liquidated. Therefore, having additional protection at no extra charge is promising. Under the policy, critical illness cover of up to Rs.1 lakh will be provided for 33 critical illnesses. Therefore, you will not have to liquidate your FD in case you are diagnosed with one of the 33 critical illnesses that have been listed. Some of the critical illnesses that are included in the policy are severities that are related to a brain tumor, liver disease, kidney failure, lung disease, and cancer. Individuals who are between the ages of 18 years and 50 years and invest between Rs.2 lakh and Rs.3 lakh for a duration of two years will be eligible for the critical illness cover.

      17 October 2019

    • People demand jobs and health insurance at a public hearing in Mangaluru

      At a public hearing in Mangaluru for issuing environmental clearance to three new projects of KIOCL Limited on Thursday, the people demanded health insurance and jobs from the company for the locals.

      There were people at the hearing who had raised questions about the project that it should not be allowed to run as it would escalate already existing health issues being faced by the people in the areas surrounding Panambur and Baikampady. On the other hand, there was a group of people who were for the project as it would be a means to generate employment in the areas.

      However, in the light of people from surrounding areas facing many health issues due to industrial units being set up in those areas, it was mentioned that the company should conduct health audits in the areas near the upcoming projects, and provide the people with a health insurance policy. Along with this, the company should also conduct free health check-ups for the people in the area, according to Mr. Dany D’Souza.

      There were other demands made by Mr. D’Souza for the company which stated that the local people should be provided with 60% of the jobs required in the setting up of the projects along with project-related contracts to be given to the locals.

      15 October 2019

    • Illnesses if seen within the first 3 months of health insurance policy will be treated considered as pre-existing disease

      According to the Insurance Regulatory Development Authority of India, the definition of preexisting diseases has been modified. In the light of this modification, any disease which is diagnosed within the first 3 months of purchasing a health insurance policy will be included and considered a preexisting disease.

      The change was included in the guidelines on the standardization of health insurance released by the IRDAI on 27 September 2019. The new norms will be applicable for the insurances given out from 1 October onwards. For the existing health insurance, the new norms will also come into effect from 1 October 2019.

      This expansion in preexisting diseases will result in the guidelines which will not allow insurance companies to exclude many illnesses that were not covered up until now.

      14 October 2019

    • Mental illness to be covered under health insurance

      In recent times, mental health has been receiving much-needed attention and importance. Considering this, the Insurance Regulatory and Development Authority of India (IRDAI) will be working towards bringing mental illness to be covered under health insurance.

      The IRDAI has recently released the guidelines which will standardize health insurance contracts and they will state that the treatment of mental illness, stress or psychological disorders will not be treated as exclusions under a health insurance policy.

      The Mental Healthcare Act which was implemented in 2017 states that every insurer who is offering health insurance products to its customers will cater to policyholders with mental illness the same way as done with physical illnesses or injuries.

      The health insurance will now cover treatment for mental illness, stress, psychological and neurodegenerative disorders as well apart from physical ailments. Whether a policyholder will be covered for hospitalization or OPD services will be depending on the type of insurance purchased.

      As per the guidelines, the insurer cannot discriminate if the illness is physical or mental. Hence, if the insurance covers hospitalization for physical illness, it will also cover hospitalization for mental illnesses.

      However, according to the fine print, an insurer is not liable to cover a person’s health insurance if he or she has a pre-existing mental condition. The health insurance can be claimed if the individual is diagnosed with a mental condition after purchasing the health insurance policy.

      10 October 2019

    • Soon health insurance premium can be paid monthly

      Several regulatory changes have been brought in by the insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI), in order to make them customer friendly. Minor changes were made on existing policies recently by the insurance regulator to ease the process.

      The CEO Designate of Edelweiss General Insurance, Shanai Ghosh, says that insurance companies currently have to finish the filing process if they wish to make a modification on an existing product that has been approved. He said that the minor change is a welcome move as it makes the process simple and allows insurers to make small changes on existing policies easily. Most changes are done based on the feedback given by customers. According to the Chief Operating Officer of Future Generali India Insurance Company Limited, Shreeraj Deshpande, minor modifications are made based on the feedback given by customers. Some of the minor changes include the addition of add-on riders and frequencies of premium payment. Insurance companies can add various premium payment options for existing policies. Currently, insurance can be paid only on an annual basis. However, with this change, the premium can be paid on a quarterly and monthly basis. Changes in the base premium can also be done. However, it cannot exceed +/- 15% of the premium. Insurers are also allowed to add standalone riders under individual health insurance products that are approved.

      9 October 2019

    • Health insurance companies must offer mental health cover

      According to the Mental Healthcare Act that was passed by the government in 2017, it is mandatory for insurance companies to provide health cover. The Act came into effect in 2018 and stated that all insurers must provide medical insurance where there is a provision for mental illness treatment.

      According to a survey done by NIMHANS, more than 150 million Indians need intervention for mental disorders. However, according to a check made by TNM at insurance companies, no mental cover plans were offered by them. However, the Indian Regulatory and Development Authority of India (IRDAI) made it compulsory for insurance companies to offer mental illness cover in August 2018. However, TNM did another check a year later, and only HDFC ERGO had a plan that mentioned mental health cover. According to the plan, hospitalisation cover would be provided for the illness. According to the Chief Actuary and Chief Underwriting Officer of HDFC ERGO, Anurag Rastogi, many individuals ask various questions about pre-existing mental conditions when they wish to buy a policy. He further added that in case the individual has a history of mental illness, they offer a health insurance policy that specifically provides cover for the mental illness. Currently, no precedent has been made by insurance companies regarding the pricing of insurance policies that offer mental illness cover or the financial risks that come with it.

      7 October 2019

    • IRDAI announces new guidelines to standardize health insurance.

      The Insurance Regulatory and Development Authority of India (IRDAI) has announced new guidelines that will standardize health insurance and make it more customer friendly. It has mandated that insured individuals who have disclosed preexisting diseases should be given health insurance coverage. Also, travel portals should abstain from making travel insurance a pre-selected feature. Certain conditions that were excluded previously from health covers should be included from now on. These are mental illnesses, disorders related to menopause or puberty, artificial life maintenance, macular degeneration related to age, and internal congenital diseases. From now on, travelers will have the freedom to decide whether or not,to get travel insurance. Where it is already selected to buy, there will be an option to deselect travel insurance before completing the transaction. This will come into effect from 1 October 2019. It has also been mandated that the terms, conditions, and benefits of the travel insurance should be displayed on the screen with a radio button for confirmation of having read the terms and conditions. Another mandate is that premium should not be taken more than 90 days in advance from the commencement date of the risks that are covered in the scenario of domestic travel at the time of buying the tickets. Coverage can be issued at any time in the case of overseas travel, however.

      3 October 2019

    • Hospital cash cover launched by Religare Health and OlaMoney

      Ola has partnered with Religare Health Insurance to launch a health insurance solution. The main aim of the product would be to provide healthcare coverage with the help of OlaMoney.

      Under the OlaMoney-Religare Hospicash policy, individuals will get a total sum assured of Rs.50,000 and a daily hospitalisation claim of Rs.5,000. This helps individuals get timely and quality healthcare. The policy is available to all Ola users and can be bought on the Ola app. The policy can be purchased for as little as Rs.3 per day and comes with various family and individual plans. The policy can be bought for a month or a year and can then be renewed. The policy offered by Ola Money Religare can be used at any hospital across the country and the expenses will be reimbursed. The policy can be purchased by anyone who is between the ages of 91 days and 65 years. Lifelong renewal on a yearly basis is also offered on the Ola app. Ola users can visit the Ola Money section to purchase the policy. Critical illness cover, hospitalisation for accidents, and treatments are also covered under the policy. Currently, OlaMoney has over 27 million customers under its database. Initially, it was launched as a service provider but now provides Insurance, Credit Card, and Postpaid services.

      1 October 2019

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    Customer Reviews

    • ICICI Lombard Health Insurance
      "Medium"
      0.5 3.0/5 "Satisfactory"
      I have taken a health insurance with ICICI LOMBARD GENERAL INSURANCE from my company on 4 years before. For the amount of 2 lakhs of sum assured amount. It covers my whole family. It is yearly basis renewable. They have tied up with many hospitals except ESI. Cashless treatment also applicable.
      Was this review helpful? 0
      , daman
      Reviewed on Oct 17, 2019
    • Apollo Munich
      Apollo Munich Health Insurance
      "Good"
      0.5 4.0/5 "Great!"
      The services are good from Apollo Munich and this is the reason for taking a health policy. Its been 4 years and need to renew the policy yearly once. The premium is around 6K through cheque. I do have claim experience. The policy coverage is 5L.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2019
    • ICICI Lombard Health Insurance
      "Good Partner"
      0.5 5.0/5 "Blown Away!"
      Last 2 years, i have been renewing the health insurance policy from ICICI Lombard. I was a medial representative of ICICI Lombard with a corporate hospitals and they have given me a good coverage value as well. This policy covered with Health insurance and accidental benefits. They gave me a huge coverage value of Rs. 20 lakhs.
      Was this review helpful? 0
      , vellore
      Reviewed on Oct 15, 2019
    • review Health Insurance
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have taken a health insurance in IFFCO TOKIO GENERAL INSURANCE on 3 years before. I am paying premium in the yearly package. It covers my whole family for this insurance. They have tied up with many hospitals and cashless treatment also applicable.
      Was this review helpful? 0
      , erode
      Reviewed on Oct 14, 2019
    • Star Health Health Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Currently my health policy is in Star Health because the claim process was very good for cash less. They are doing instant help whenever I approach them. The customer service is also good. So far, I haven't claimed anything. The medical coverage is 5L and the premium is around 20 to 25K for 3members.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 11, 2019
    • National Insurance Health Insurance
      "Better Policy"
      0.5 3.0/5 "Satisfactory"
      I am having a health insurance from National. Actually the policy has provided by my office. They gave me a policy only for me and i included my son also. They gave me a coverage value is not very much because it was 2.5 lakhs hence i am planning to go for other policy for my entire family members.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 11, 2019
    • Star Health Health Insurance
      "Good Insurance Policy"
      0.5 5.0/5 "Blown Away!"
      From my working place, they gave me a health insurance policy from Star Company. I got the coverage value of Rs. 5 lakhs. From my salary, they are deducting the premium amount of Rs. 8000. I have not applied for any claim till now. Most of the hospitals has been covered on this policy.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Oct 10, 2019
    • United India Health Insurance
      "Better"
      0.5 5.0/5 "Blown Away!"
      I got a health insurance in United India Insurance which was given my company so, I am not sure about the premium. Its been 10 years and till now, there is no claim experience. I did not interact with the customer care. I got the insurance paper and e-cards. The medical coverage is 2L.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 10, 2019
    • Bajaj Allianz Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      Since the premium amount is less and the benefits are high hence i have chosen the health insurance from Bajaj Finsev. I have been paying the premium amount of Rs. 14500 for the coverage value of Rs. 5 lakhs. Nearly 6000 hospitals has been covered all over India. My entire family has been covered in this policy. I do not have any claim experience as of now.
      Was this review helpful? 0
      , thane
      Reviewed on Oct 09, 2019
    • Star Health Health Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I hold a health insurance from Star Health and it was referred by friend. The claim process was very simple and I just done a call to the customer care, to check how I can utilize this policy for my daughter treatment. They were responsible and paid more attention which was useful for me. I got the amount without doing any work from my side and I felt, they are good compared to others. The premium is 12K yearly, am paying through cheque. Its been 5years and e-cards are sent on time.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Oct 09, 2019
    • Royal Sundaram Health Insurance
      "Really Superb policy"
      0.5 5.0/5 "Blown Away!"
      For each person, they have provided a Rs. 2 lakhs. From my husband, they have given this policy. Last 3 months back, my husband admitted in a hospitals. In that single penny, i have not taken it from my pocket. It was cashless treatment policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 08, 2019
    • Star Health Health Insurance
      "Good Health Insurance"
      0.5 3.0/5 "Satisfactory"
      Actually star insurance has included many hospitals and most of the health insurance office is not available in our area and only star office was available. They pay for per day charges in our regular hospitals and claim get sanctioned. If i go for their hospitals list, it will be a cashless facility. Their claim process is convenient. They gave me a 100% claim.
      Was this review helpful? 0
      , ahmednagar
      Reviewed on Oct 08, 2019
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