Co-pay is a fixed percentage of the hospital bill you will have to pay when you make a claim, while the balance will be paid by the insurance company. For e.g. If your policy has a 10% Co-Pay clause, it means for a Rs 1,000 claim, you have to pay Rs 100 while the insurer will pay Rs 900. Ideally, opt for a "no co-pay" plan so you don't have to shell out for every claim.
Pre-existing diseases are classified as diseases/conditions that a person has before buying health insurance. All pre-existing diseases aren't covered from day one of buying the policy. The time taken to cover pre-existing diseases will vary from plan to plan. Check the amount of time taken to cover pre-existing diseases in your plan.
The duration of coverage is the most important factor in buying a health insurance policy. Your health is most likely going to deteriorate only in your sunset years so ensure that your coverage is lifelong and not for a few years. Always go for a plan that can be renewed lifelong.
Your room preference during hospitalization matters (such as shared room, private room or private room with high-end facilities). A costlier room means you'll pay higher treatment and hospitalization charges! It's better if your plan has a higher room rent limit per day.
Lower premium for younger buyers.
The premium depends on the number of insured members.
Your room preference during hospitalization matters (such as shared room, private room or private room with high-end facilities) Remember costlier room means higher treatment charges too!
Your premium will depend on any pre-existing medical conditions.
Health insurance is becoming increasingly popular in India as the months pass. It is basically an agreement wherein an individual who purchases it will be covered for medical expenses if he/she falls ill. The insurance company from which the health insurance policy was purchased will take care of the medical expenses incurred by the insured individual. Usually, insurance companies collaborate with hospitals to offer cashless treatments to insured individuals.
Considering the rate at which the cost of treatments and medical expenses are rising in India, purchasing a health insurance policy can ensure that you do not burn a hole in your pockets in times of emergencies. Health insurance protects the policyholder and his/her family members. If the breadwinner of the family is hospitalised, it becomes even harder to meet the hospitalisation expenses. At times like these, a health insurance policy can come in handy in dealing with the cost of medical treatments and hospitalisation costs.
An effective health insurance generally covers expenses related to consultation fees, ambulance charges, costs incurred on medical tests, pre- and post-hospitalisation costs, etc.
In summary, the main reasons for buying health insurance are listed below:
The increase in the income of the middle-class households in India indicates that there is a wider choice as far as spending on medical treatment is concerned. However, this does not mean that more Indians are protected by health insurance. In fact, less than 20% of Indian citizens have health insurance coverage of some sort. In other words, 18% of individuals in urban India and 14.1% of residents of rural regions are protected by health insurance coverage.
The increase in the incidence of lifestyle diseases is also of great concern. An estimated 130 million people will be affected by lifestyle diseases in the near future.
Listed below are some statistics regarding the health insurance crisis in the country:
The following are the main benefits of being covered by a health insurance policy:
Online purchasing facility: Thanks to the advancements in technology, you no longer need to visit a branch of the health insurance company in order to purchase a plan.
You can do so from the comfort of your own home or office. All the major insurance companies in the country have online portals or website that you can visit and purchase the health insurance policy of your choice.
Cover for OPD expenses: Most of the traditional health insurance plans require the insured individual to be hospitalised for a minimum of 24 hours if they are to be eligible for reimbursements. However, as the years pass, insured individuals no longer need to be hospitalised to avail this benefit.
Health insurance plans cover OPD expenses incurred by the policyholder, thereby ensuring that you do not burn a hole in your pockets in times of emergencies.
Considering the innumerable advantages offered by a health insurance policy, it is highly advisable to buy one early in life. Health insurance is not an expensive investment; so millennials should ideally focus on this aspect of their finance in a serious way.
Healthcare costs have skyrocketed tremendously over the last few years. This is owing to factors like lifestyles diseases which include heart disorders, diabetes, and so on. However, when you do have a health insurance policy, you can be fairly stress free as your medical emergencies are all covered.
So, what changes when two people get married? Apart from the daily hustles, let us see how a health insurance policy undergoes change or is impacted after marriage.
If it is an individual plan: When talking about individual health insurance plans, elements such as maiden name, place of residence, and such will not be required. The policy will continue to provide benefits as it was earlier however the couple will be required to provide their marriage certificate to the insurance provider. Certain insurance companies offer forms to such couples in order to make the transition more convenient.
If it is a family floater plan: In this case, you have two roads that you can take. Either the husband moves to the policy of the wife or vice versa. In any case, benefits offered by family floater policies will essentially remain the same.
It is usually a good idea to merge your health insurance policy with your spouse as you save on a lot of time, energy, and money spent on premiums.
There are a number of factors that must be kept in mind when choosing a health insurance policy. The following are the most crucial:
A number of studies conducted in the recent past have shown that the rate of medical inflation in the country is around 17% per year, which is much higher than the general inflation rate. Health insurance is becoming increasingly necessary and finding the right health insurance policy is crucial to ensuring that you are well-covered in case of emergencies. Even though you may be hale and hearty at the moment, health insurance is a lot more than just diseases and illnesses. Accidents can take place at any time, and having a health insurance policy in such situations can come in handy.
Moreover, there are certain conditions that we do not even think of until the symptoms become clearly visible as we age. It is, therefore, very important to be covered with health insurance to ensure that you do not burn a hole in your pocket later on when a certain condition gets severe.
‘Defined-benefit plans’ and ‘indemnity plans’ are the most commonly categorised health insurance policies. Indemnity policies are those that reimburse medical expenses to policyholders while defined-benefit policies are those that provide the policyholder with a lump sum amount regardless of the actual medical costs.
When you are convinced that you should get a health insurance policy, you will then have to start making investments to save for you future life goals. This is where you will have to make a choice between an individual health plan and a family floater plan. Ideally, family floater plans must be considered for extensive coverage as it ensures that your entire family is financially protected in case of an adverse experience.
Individual health plans will have to be purchased in the name of each family member, which means that the premium will depend on the respective age and sum assured of each individual. In case of a family floater plan, however, insurance companies offer a 10% discount on the overall premium if multiple family members are insured simultaneously. If one family member makes a claim, the other members’ sum assured remains intact.
When estimating the amount of coverage you will require, the city of your residence, the history of illnesses in the family and a few other factors must be taken into consideration. According to experts, those who reside in Class A cities will have to insure themselves for a minimum of Rs.10 lakh due to the high standard of living in these cities. Apart from the cost of living, the cost of medical treatment is also pretty high in metropolitan cities in comparison with smaller towns. The sum assured for those residing in Class B and Class C cities must be between Rs.4 lakh and Rs.5 lakh.
Majority of the health insurance policies come with sub-limits these days. Sub-limits are basically the cap on the re-imbursement limits on certain costs. For instance, the room rent under a policy could be limited to 1% of the sum assured. What this means is that regardless of the overall sum assured, you will have to incur out-of-pocket expenses if the hospital bill exceeds the aforementioned amount. Check for these sub-limits to ensure that you aren’t in for a shock at the time of making claims.
Most of the health insurance policies out there offer coverage for pre-existing conditions, but only after a period of 36 or 48 months. When you purchase a health insurance plan, you need to disclose any pre-existing ailments you may have to ensure that your claims settlement process is smooth and hassle-free. However, coverage for certain illnesses is offered after a period of 12 to 24 months, so consider these plans as they can come in handy sooner rather than later.
Not all health insurance plans come with a co-payment feature, but the feature is usually mandatory in plans that cater to senior citizens. Considering the fact that the premium rates are higher for people in higher age groups, the co-payment feature could offer some relief so far as affordability is concerned as it aids in ensuring that premiums are low. However, there are plans that ask for around 20% co-payment in case the treatment is availed at a non-network hospital or in a different city from the one in which the policy was purchased.
When you plan to purchase a health insurance policy, it is essential to compare as many plans as possible to find the one that best suits your needs. You also need to compare the various insurance companies to find the right one. Your decision to purchase a plan should not rely solely on the premium payment. Choosing simple plans that come with fewer restrictions and conditions will make for a better purchase. It is also important to remember that all your family members require health insurance regardless of how old they are.
When you wish to purchase health insurance, the insurance company could ask you to take certain medical examinations. The state of your health is the second most crucial factor that aids an insurance company in assessing your premiums, after your age. Underwriters take your health and age as the most important parameters to set a premium.
Currently, majority of the health insurance companies in India provide coverage to individuals under 45 years of age without the need for medical exams. However, your pre-existing conditions, if any, will certainly be taken into consideration by the health insurance company. If your insurer does not insist on taking a medical exam, you will be asked to furnish a declaration of good health in addition to disclosing your pre-existing conditions such as hypertension and diabetes. Having no pre-existing conditions and being younger will help you find plans for lower premiums.
Medical examinations usually comprise mainly of physical, urine, and blood tests. Although these tests seem simple, they have the ability to disclose a lot regarding human health. They can detect abnormalities in kidney and liver functions as well as an increase or decrease in blood sugar levels. They can also reveal whether you consume tobacco or alcohol. Those who seek health insurance and are above 55 years of age are generally required to take additional medical exams.
The health insurance sector in India is undergoing revolutionary changes and the number of people who purchase health insurance policies is rising at an impressive rate. As such, health insurance companies are offering an extensive range of policies that are designed with their respective diverse customer bases in mind. The increasing cost of medical treatments in addition to the rising incidence of diseases in the modern day as well as inflation have contributed towards making health insurance necessary for everyone.
Until a few years ago, most people who purchased health insurance were in their mid-30s to early 40s, but as the years pass, the people purchasing health insurance are in their mid-20s, showing a massive shift in paradigm. There are so many different kind of health insurance plans out there that it is essential to do your research to find the one that best suits your requirements. The following are the types of policies you can choose from:
The term ‘indemnity’ refers to compensation for damages or losses. So far as health insurance is concerned, indemnity means that the insurance company will ensure that the policyholder remains in the same financial state that he/she was before incurring a loss. Under indemnity health insurance policies, policyholders are compensated by receiving a reimbursement of the hospitalisation costs they incur. The maximum amount that will be reimbursed to the policyholder, however, will not be more than the sum assured. For example, if you purchase a plan of Rs.2 lakh and incur Rs.1.5 lakh on hospital bills, the insurance company will only reimburse the Rs.1.5 lakh you have spent. Similarly, if you incur Rs.2.5 lakh, you will only receive Rs.2 lakh as it is the sum assured of the policy. The remaining Rs.50,000 will have to be borne by you. There are three kinds of indemnity plans:
Mediclaim policies are the most popular and common kind of health insurance plans. They cover hospitalisation costs (both pre-hospitalisation and post-hospitalisation). They also cover costs incurred on ambulances, surgeries, etc. When you are covered under a mediclaim plan, you will be reimbursed to the extent of the costs incurred on hospital bills or the sum assured, whichever is less.
Top-up plans, as the title suggests, are basically plans that increase or top-up your coverage amount. These plans can be purchased as supplements to your health insurance policy and they enhance your coverage for nominal costs. These plans come with something called ‘deductible limit’, which means that if your claim amount is under a certain limit, the insurance company will not cover the expenses. However, if the claim amount is more than the deductible limit, the insurance company will reimburse the excess amount. Top-up plans can come in handy in case you already have a mediclaim policy.
Super top-up plans are basically better versions of top-up plans. They work in a similar fashion to top-up plans. However, there is one major difference between the two. For instance, under top-up plans, the plan is triggered with each claim but if the claim amount is lower than the deductible limit, the policyholder is not reimbursed. The case with super top-up plans is that the aggregate claims of the policy year are taken into consideration. In case the aggregate claims are in excess of the deductible limit, the claim will be triggered. For instance, if there are two claims of Rs.70,000 and Rs.60,000 in a certain policy year, and the deductible limit of the plan is Rs.1 lakh, you will not be paid out by a top-up plan but a super top-up plan will cover the additional Rs.30,000 incurred by you.
Fixed benefit plans as they are also called, defined benefit plans are completely opposite to indemnity policies. If you are covered by a defined benefit plan, you will receive a pre-determined amount if you make a claim regardless of the actual costs you have incurred. For example, the plan may pay a fixed amount of Rs.5,000 for each day you are hospitalised even if the cost you incurred was Rs.4,000. The following are the different kind of defined benefit policies:
Critical illness plans are becoming increasing popular with each passing year. These plans offer specialised coverage for a number of specified critical conditions. The list of conditions or ailments that are covered varies from policy to policy but getting diagnosed with any of those illnesses will mean that the insurance company will cover the costs incurred on hospitalisation and treatment. Under critical illness plans, the insurance company will reimburse the policyholder with a lump-sum amount regardless of the subsequent treatment expenses.
Hospital cash benefit plans are designed to offer a fixed amount of money to the policyholder for each day they are hospitalised. The actual hospitalisation costs have no bearing on the amount offered under these plans as they are pre-determined as per the features of the plan.
The following are the documents you will require to purchase health insurance in India:
Certain health insurance companies will require applicants to undergo medical examinations in order to qualify for coverage. Also, insurers can also request other documents apart from the ones mentioned above.
The Central Bureau of Health Intelligence presented a report in 2015-16. According to the report, which was supervised by the Ministry of Health and Family Welfare, less than 30% of Indian citizens were covered by any sort of health insurance. This information highlights the poor situation of the healthcare industry in India. India also happens to be one of the most populated countries in the world, where two-third of the populace is poor and has limited access to basic necessities. As such, investing in health insurance is extremely difficult for many people.
Keeping the situation of its citizens in mind, the Government of India has launched a number of health insurance schemes to financially protect those who cannot afford health insurance. These schemes are made available at affordable prices and offer moderate cover against medical emergencies. A lot of people who come from the middle-income group are making the most of these schemes. Government-sponsored health insurance plans can be purchased from web aggregators that allow you to compare various plans before you find one that best suits your needs.
The following are some of the best health insurance policies offered by the Government of India:
Over the past few years, there has been tremendous growth of the health insurance sector in India. Citizens of the country now have access to a large number of options so far as health insurance companies are concerned, so much so that it is quite hard to find the best health insurance company based on your requirements. A few factors must be kept in mind when choosing an insurer. They are as follows:
There’s more in a name than the ancient proverb suggests. A company’s reputation gives an insight into the kind of services as well as the quality of service you can expect from your insurer. A company with a good reputation with a good brand image is a safe bet as you can be assured of a good experience. While you can always consider word of mouth to choose an insurance company, sound research will go a long way towards ensuring you select the best option at your disposal.
Research is crucial to finding the right insurance company. Look for the company’s financial solidity before picking it. The Credit Rating Information Services of India Private Limited (CRISIL) rating can help you assess the financial stability of an insurance company. Companies with AAA ratings are recommended as they have the best financial strength, making it easier for them to meet obligations.
Considering the fact that insurance is a massive industry, products and services are bound to change over time. Along with the changes in the insurance industry, your insurance requirements can also change as you age. It is therefore very important to consider companies that have a wide variety of insurance plans that can cater to requirements of a diverse customer base.
When you purchase a health insurance plan for emergencies in the future, it is only natural to expect your claims to be settled quickly. The filing of claims is considered a tedious task and the process can take a long time to complete after you submit the form and supporting documents. Approval can take a while if the company is not up to the mark with its settlement process, and there are chances of your claim getting rejected as well. It is therefore crucial to check for the claims settlement ratio along with the simplicity of its claims settlement process to ensure that there are no hassles at the time of making claims.
Lay people often find it difficult to understand insurance. It is for this reason that an increasing number of insurance providers are appointing advisors so that it becomes easier for customers to comprehend the concept of insurance. These advisors offer support when it comes to selecting the right health insurance policy based on your requirements. They also offer assistance with regard to claim-related queries.
Customer service is one of the most crucial factors to consider when purchasing any product. When you buy a health insurance policy, you will have to ensure that you get solutions and support at your fingertips. A reputed company with an efficient customer support team will ensure that all your queries will be resolved at the earliest, be it through email, phone, or online assistance.
Before you buy any product, reading through the customer reviews posted by fellow users of the product will help you gain an insight into their experience. When it comes to health insurance, going through reviews will help you understand how the policy has benefitted other customers. You may also check the website of the Insurance Regulatory and Development Authority of India for the complaints and resolutions of the company.
Choosing the right insurance plan can be a difficult task, but thanks to advancements in technology, the internet can now grant you access to a large number of options that can be assessed and compared before you pick the plan that best suits your needs. People tend to make common errors when purchasing health insurance, and avoiding these mistakes can help you make the most of your health insurance policy. The following are the common mistakes you must avoid when purchasing health insurance:
The amount for which you are covered plays a crucial role in determining which policy will best suit your needs. Most people tend to choose plans with lower coverage as it helps them save some money. While it is important to save money, it is also crucial to ensure that you don’t be too stingy when it comes to buying health insurance as it could prove to be a hassle later on.
It is so much easier to just accept the terms and conditions of anything instead of reading through it to understand everything in it. When it comes to health insurance, many people tend to make the same mistake. Going through the fine print will tell you all about the coverage offered by your health insurance policy. It will also tell you about the exclusions so you are aware of what you can and cannot claim.
Many people tend to go with the first insurance company they find. When purchasing a health insurance plan, it is crucial to compare as many plans as possible as it will help you identify which one best suits your needs.
People tend to lie about their medical history when purchasing health insurance as it tends to lower their premiums. When you purchase a health insurance plan, it is essential to be truthful about your past medical health and situations. When you lie about your medical history, there is a chance that your claims could be rejected if the insurer finds out about the same. It is crucial to be transparent regarding your medical history in order to avoid problems later on.
The cashless facility is one of the most important things to look for when purchasing a health insurance plan. However, many people tend to even consider this facility when looking for policies. By finding an insurance provider that offers the cashless facility, you can rest assured that you will receive immediate treatment in case of emergencies and the insurer will cover the costs.
When you purchase a health insurance policy, the insurer will provide with an option of co-pay. If you choose this option, you will have to contribute a certain pre-determined amount at the time of making a claim, and the remainder will be paid by the insurance company. The sum assured will not be affected by the co-pay amount.
When purchasing a health insurance policy, it is important to consider additional riders. However, you should only choose the riders that will actually benefit you. Many people make the mistake of choosing one rider too many with the idea that they will come in handy later on. It is important to take your time and understand your insurance requirements and then go through the various riders at your disposal to pick only the ones that will actually be of use to you.
Health insurance is becoming increasingly popular as the years pass, and while many people realise how important it is to get a plan in the early part of their life, they often tend to procrastinate and wait for a major life event to go ahead and insure themselves. Getting a health insurance plan in your 20s comes with a lot of benefits. The premiums charged to you will be much lower, and you can avail a host of benefits at nominal rates. Waiting till you get older to purchase health insurance will reduce the number of options available to you, and insurance companies will not be too keen to entertain you.
Most companies tend to cover their employees under group health insurance plans. However, this cover may not be adequate as it will not be customised based on your unique requirements. Your health insurance coverage you receive from your employer, if any, must also be kept in mind. Choosing a supplemental health insurance policy is always necessary as your employer’s health insurance alone will not provide enough cover.
The following is a brief list of things you should and should not do when buying a health insurance plan:
|Understand your health insurance requirement and choose a customised plan that will meet your needs. The 4 most common kinds of health insurance policies you can consider include mediclaim, surgical benefit plan, hospital cash benefit, and critical illness. Pick a plan that best suits your requirements.||Try not to be over-insured or under-insured. Choose a sufficient health cover that will provide you with the required assistance on time.|
|Go through the fine print of the policy document and ensure that you understand all the inclusions and exclusions of the plan. Customise the plan as per your requirements and make the premium payment only after your proposal has been accepted by the insurer. You can always negotiate the sub-limits and co-payment features in your plan, so make sure you purchase the plan only once you’re certain that your requirements are met.||Don’t settle for a plan because the premium associated with it is cheap. Plans that are offered for low premiums do not provide adequate coverage and may see you incur out-of-pocket expenses in the future.|
|Go through the policy document carefully to understand all the inclusions as well as exclusions of the plan. Look for the waiting period for pre-existing ailments as they vary from policy to policy. Check the fine print in order to avoid shocks later on.||Make sure that your policy does not lapse. Renewing your health insurance plan on time is crucial to ensuring that you will be financially covered in times of emergencies. Delays in renewing your policy can result in the rejection of claims, if any.|
|Look out for the list of network hospitals and the cashless facility. Doing so will ensure that you pick a plan that offers more than just basic healthcare. You will also be able to access quality healthcare in times of emergencies by checking the list of network hospitals.||Be honest about your pre-existing conditions. If you have any illness or condition, it must be disclosed to the insurer as failure to do so or submitting false documents or concealing facts could result in the termination of your health insurance policy.|
Health insurance acts as a safety net for an individual's finances in case he/she meets with an unforeseen accident. The insurance policy ensures that the insured gets the best treatment available without worrying about clearing the costs at the time of discharge. Knowing about the claim process is an important piece of information that the insured should be armed with at all times. There are certain procedures that the insured will have to follow at the time of making a claim.
There are two main types of claim process which an individual can choose when making a claim on their health insurance. These are:
When the insured provides their health insurance details along with their e-card or any other type of physical proof of the purchased health insurance policy, the insured can receive treatment at a hospital. This holds good if the injury or illness is covered under the health insurance policy. Once the insured is discharged from the hospital, the hospital will forward the medical bills to the health insurance company. The company will then analyze and evaluate the expenses and settle the payment. This process is known as cashless hospitalization. Over here, the hospital settles the bills with the insurance company. This provides a stress free recovery period for the insured.
The process of making a claim on a health insurance at a cashless hospital depends on the type of treatment that the insured has to undergo.
In the event that the policyholder or insured has been admitted into a hospital or clinic and pays for their treatment, the policyholder will have to reclaim the money spent from the insurer. The hospital that the insured has been admitted into does not have to be empanelled with the insurance company. In such cases, the cashless claim facility that's provided by the insurance policy cannot be claimed. Once the insurer has paid for their treatment and hospitalization costs, they will have to make a reimbursement claim. The insurer will have to provide the original bills to the health insurance company to make a reimbursement claim. The insurance company will evaluate the claim that will then decide to either approve or reject it. Once the insurance company approves the claim, they will make the payment to the policyholder. The insurance company will notify the insured in case they reject the reimbursement claim.
The various documents* which are required to make a health insurance claim have been listed below:
*Documents needed may vary from one insurance company to another
Read more on: Health Insurance Claims Process
The following are the tax deductions you will be eligible for on your health insurance premiums:
The following are the top 10 health insurance companies in India:
A joint venture between Munich Health and Apollo Hospitals, Apollo Munich Health Insurance is considered among the top health insurance providers in India. The plans designed by the company are of the highest quality and cater to the requirements of a diverse customer base. The company received the InfoSec Maestros Awards and the Health Insurance Provider Award in recent times. The Incurred Claim Ratio of Apollo Munich Health Insurance Company is remarkable with 63.03%, and it offers lifelong renewability and portability options.
Star Health and Allied Insurance Company Limited aims at offering excellent service to its customers along with the provision of creative insurance products. The company offers health insurance, personal accident insurance products, and overseas mediclaim policies. Star Health and Allied Insurance Company Limited is a stand-alone insurer that offers insurance products at competitive prices. The Incurred Claim Ratio of Star Health And Allied Insurance Company Limited stands at 53.81% as of 2015-16, and the company continues to design innovative products such as Star NetPlus for HIV+ patients and Diabetes Safe for diabetic patients, among others.
A joint venture between UK-based global healthcare group Bupa, and Max India Limited, Max Bupa Health Insurance Company Limited caters to a diverse customer base spread across nearly 200 countries. The company is proficient at health and protection administrations, like life insurance and clinical research, for instance. The company aims at encouraging customers to find an increasingly beneficial life by offering them a wide variety of quality health insurance products. The Incurred Claim Ratio of the company for 2015-16 was 55.16%, and Max Bupa Health Insurance Company Limited is one of the country’s leading insurers.
ICICI Lombard General Insurance Company Limited is a joint venture between ICICI Bank Limited and a financial services company based out of Canada, Fairfax Financial Holdings Limited. The company deals with investment management, reinsurance, and general insurance. It has received several awards for its innovative solutions and customer-centric approach. ICICI Lombard General Insurance Company Limited is known for its provision of specific health insurance policies to a wide customer base, thereby providing customised and specialised health insurance solutions. The company’s Incurred Claim Ratio for 2015-16 is 81.47%.
A venture of Religare Enterprises Limited, Religare Health Insurance Company Limited has different investors such as Union Bank of India and Corporation Bank. The aim of the company is to become the most favoured health insurance company in India. Religare Health Insurance Company Limited guarantees access to inventive and financially effective health insurance products. The company has been presented with the Quality Management System as per ISO 9001:2015 guidelines. The Incurred Claim Ratio of the organisation stood at 57.25% for 2015-16, and the company is regarded as one of the top five health insurance companies in India.
Cigna TTK Health Insurance Company Limited is a joint initiative between TTK Group and Cigna Group, which is based out of the US. Cigna Corporation is among the most popular health service pioneers from the US, and the goal of the company is to provide tailor-made health insurance products based on the requirements of its customers. Cigna TTK Health Insurance Company Limited offers a wide variety of health insurance plans, and its Incurred Claim Ratio for 2015-16 stood at 78.66%.
Bajaj Allianz General Insurance Company Limited is a joint enterprise between Allianz SE and Bajaj Finserv Limited. The operations of Bajaj Allianz General Insurance Company commenced in 2001, and the organisation has master accomplices that make it one of the biggest and most trusted health insurance providers in the country. The major products of Bajaj Allianz General Insurance Company Limited include Star Package, Silver Health, and Health Guard.
New India Assurance Company Limited is a 100% government-owned general insurance company which has a presence in 28 countries across the globe. The company has received the AAA/STABLE rating from CRISIL, which shows that the quality of the financial products offered by the company is truly outstanding. New India Assurance Company Limited has over 2000 offices in addition to over 19,000 representatives as well as about 50,000 tied specialists who offer administrations and protection items to customers. The Claim Settlement Ratio of the company in 2015-16 was 87.84%.
An auxiliary of Oriental Government Security Life Assurance Company Limited, Oriental Insurance Company Limited provides some major products such as petrochemical plants, chemical, steel and power plants. It also offers a variety of protection solutions to urban as well as rural customers in the country. The company has over 30 regional offices in addition to 1800+ working offices across India. The Incurred Claim Ratio of Oriental Insurance Company Limited stood at 83.71% in 2015-16, and it is one of the most reputed health insurance providers in the country.
National Insurance Company Limited is one of the pioneers in acquainting product customisation with country as well as corporate clients. The workforce of the organisation is around 15,000 faculties, and it has nearly 2000 workplaces across the country. So far as the non-life safety net providers in India is concerned, National Insurance Company Limited ranks second in terms of gross direct composed premiums. The Incurred Claim Ratio of the company for 2015-16 was recorded at 95.28%.
If you wish to purchase health insurance in the near future, you should definitely consider one of the aforementioned companies to receive the best service possible.
‘No-Claim Bonus’ is a benefit offered to the policyholder for every claim-free year. It is awarded upon renewal and comes in the form of discounts on premiums or enhancements in the chosen sum assured. Discounts/enhancement range between 5% - 50%.
These are reductions in premiums, awarded to the proposer for covering additional members, usually more than two.
This refers to the number of times an insurer successfully processes claims from admission to pay-out as against the number of times it rejects them. A very high or very low ratio indicates a skewed process. A positive ratio is one where the number of claims processed successfully are higher than those rejected. (This is not a definite indicator but helps a potential customer judge a company’s service levels).
This refers to the number of times an insurer successfully processes claims from admission to pay-out as against the number of times it rejects them. A very high or very low ratio indicates a skewed process. A positive ratio is one where the number of claims processed successfully are higher than those rejected. (This is not a definite indicator but helps a potential customer judge a company’s service levels).
Yes, most insurers feature an online purchasing and renewal facility on their own website. There are, also, a number of financial services portals that provide this service. Leading portals drive business based on trust and security so it’s definitely a safe alternative to traditional methods.
It is cheaper than going through an agent because the middleman viz. the agent does not play a part in the process and the cost of the policy is reduced by the amount of commissions paid (to the agent).
This is when a policyholder moves or ports from his/her current provider to another. Policyholders are allowed to transfer the coverage and benefits from their current policies to a new insurer, subject to certain conditions. Health insurance portability gives policyholders flexibility in case they are not satisfied with their present provider or find more economic options.
Yes, premiums paid on health insurance plans qualify for tax benefits as per Sec80D of the Income Tax Act.
If a policyholder is not satisfied with the policy he/she has taken or the provider of the policy, he/she can cancel and return the policy within 15 days of receiving it. Premiums already paid will be refunded, subject to adjustments.
Yes, service tax and other charges are applicable at rates and conditions as prescribed by the law (subject to change). Consider this aspect when calculating premiums.
Yes, a duplicate can be obtained by following the procedure set in place by the insurer, usually on payment of charges for a copy.
Anyone who depends on the primary member for their livelihood, commonly the proposer’s spouse, children and parents, are considered dependents. Children are often considered dependents beyond 18 years up to the age of 25 years if they are still students (sons) or unmarried (daughters) or mentally challenged. Dependent children are often covered only if a parent is concurrently covered under the same plan.
Premiums are charged based on the age and location of the insured member and the sum assured chosen. In case of plans on a family floater basis, premiums are calculated based on the age of the oldest member. Premiums in this case are also affected by the family size i.e. the number of family members covered under the policy.
This is whereby claimants avail medical services at their network hospitals without making upfront payments (subject to approvals). This is different from reimbursement of claims whereby claimants make upfront payments for treatment and subsequently submit bills to the insurance company for compensation.
Under some plans, the insurer and the insured are jointly liable to meet expenses. The policyholder will pay a certain percentage towards expenses incurred. If policyholders exercise this option, they are often given reductions in premiums.
Sum assured is the overall amount within which all claims have to be made. Sub-limits are caps placed on different kinds of claims. For e.g. only a certain amount of the sum assured can be claimed for room expenses, or, ambulance charges will be reimbursed only up to a certain amount per hospitalisation.
If, during a particular year, a claim was made, the sum assured is reduced by that amount. The amount remaining as sum assured may not be sufficient to cover any future claims. In this case, some companies offer their clients the benefit of restoring the sum assured to the original amount so as to meet a subsequent claim. This is offered once during a policy period as an added benefit to enhance coverage.
Although used interchangeably, mediclaim is technically not the same as health insurance. Broadly, the difference between the two types of health covers lies in the quantum and breadth of coverage offered. Even though it is considered a form of health insurance, mediclaim plans are more specific in their coverage i.e. it is usually only for hospitalisation expenses, particular illnesses and hospitalisation/treatment in case of accidents. Health insurance plans on the other hand can be customised to cover expenses pertaining to pre/ post-hospitalisation, ambulance charges, critical illnesses etc.
Day care procedures ate those medical treatments that do not require the patient to be hospitalised for a minimum of 24 hours. Day care treatments can be done in few hours so it is done as an outpatient procedure. There are many insurers who offer health insurance coverage specially designed for day care treatments.
Thanks to the sophisticated technology we have in the medical field! What took us days now takes us less than 24 hours. Many medical treatments can be given in few hours because of the advancement in the medical industry. If the treatment can be given to the policyholder as an outpatient, it will be termed as day care procedures. Some of the day care procedures are:
Most of the insurance policy providers cover day care treatments. One has to research well while buying a health insurance plan on basis of day care procedure. Some of the factors you need to consider are:
Domiciliary hospitalisation means that the policyholder is being treated for a certain ailment within the confinement of his/her home and not in a hospital or a nursing set up. Usually, domiciliary hospitalisation is allowed when they aren’t able to move the patient from home to the hospital or when the patient cannot be taken to the hospital due to lack of accommodation. In other words, domiciliary hospitalisation refers to the treatment given to a patient for a certain disease or injury for more than 3 continuous days due to non-availability of accommodation in the hospitals or because the patient cannot be moved to the hospital.
If you have a health insurance policy that covers domiciliary hospitalisation, some of the treatments they cover are:
Most of the health insurance plans do not cover dental treatments. Dental treatments are one of the common exclusions in India. Please check with your insurance provider if they do.
Check various options here - Dental Insurance Coverage.
Listed below are some tips that you can follow to select the best health insurance plan:
There are no shortcuts when it comes to reading the fine print of your health insurance policy document. However, you can follow the steps below to which will help you read the fine print of your policy document:
There are many myths when it comes to health insurance in India. Some of the myths are as follows:
The below documents are required when you submit a reimbursement claim:
A floater option means that under one single health insurance plan, the sum assured amount can be used by all the members covered under the particular policy. All family floater health insurance plans have this option. Unlike individual health insurance plan, the sum assured is not for a single person under floater option.
Health insurance providers in India offers cashless hospitalisation facility where they settle the medical bill directly with the hospital if the policyholder is admitted in any one of their network hospitals. However, if the policyholder is admitted in a non-network hospital due to an emergency, the policyholder will have to pay the bill and later get it reimbursed from the insurer. Based on the terms of the plan, the insurer will reimburse the amount spent by the policyholder.
An individual insurance plan is designed to cater to the needs of one person. The sum assured is completely used by the individual person. However, in a floater option, the sum assured can be used by anyone of the members under the insurance plan. Floater options are perfect for families where more than one member require insurance coverage.
Some of the expenses included in sub-limit amount are room charges, medical tests, operation theatre expenses, medicines costs, and hospitalisation expenses.
Generally, not all health insurance plans cover homeopathy treatments. You will have to check with your insurer if homeopathy is covered under the plan. However, if you are looking for insurers who offer health insurance plans that cover AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) treatments, visit - Medical insurance for AYUSH.
The benefits you get when you are hospitalised due to an accident depends on the type of plan you hold. Generally, personal accident covers pays for your hospitalisation bill, over-the-counter drugs, consultations fees, and other such expenses. If the accident has left you permanently disabled, the agreed sum assured amount will be given immediately. In case of the unfortunate death of the insured, the death benefit according to the plan will be payable.
Unfortunately, that is not an option. If you have not submitted a claim in one policy year, you will be eligible to get a no-claim bonus (depending on the insurance provider). A no-claim bonus is a discount given on your premium amount, expressed in terms of percentage, and can be used while renewing your policy. Few insurers also increase the sum assured amount without any additional charge if you do not make a claim in a policy year.
When you switch your existing health insurance policy to a new insurance provider, you are entitled to the following benefits:
If you insurer covers pre-hospitalisation expenses, the following will be covered:
Post-hospitalisation cover usually pays for:
More details on pre and post-hospitalisation expenses.
The premium for a family floater policy is calculated after considering various factors like age of the oldest member of the family, policy term, number of members covered under one plan, the health condition of the insured, type of plan selected, and the sum assured selected. There is no universal formula used by insurance companies to calculate the premium for a family floater plan. It differs from one insurer to another.
Most of the insurers today offer cashless hospitalisation benefit to their policyholders. Under cashless hospitalisation, if the insured is hospitalised in a network hospital for more than 24 hours, the hospital bill will be settled by the insurer directly with the hospital. The policyholder do not have to arrange for funds, pay the bill, and later file a reimbursement claim. The insurer will pay the bill as per the terms and conditions of the policy held by the insured and the policyholder will only be responsible for those items that are not covered under the insurance plan.
The entry age and the maximum age criteria of the insured differs from one plan to another. Generally, health insurance plan are available for individuals from 3 months old to 65 years. There are few senior citizen plans that cover senior citizens above 65 years as well.
As the name suggests, pre-existing disease are those medical conditions that an individual suffers from even before buying a health insurance policy. These are not the diseases that the insured developed after buying a health insurance policy. Some of the examples of pre-existing diseases are asthma, diabetes, blood pressure, cancer, or ulcers. More information on this page - pre-existing diseases.
A family floater health insurance plan, as the name suggests, is an single health insurance policy that covers the entire family. The sum assured, in this case, is used by all the members of the family as and when a issue occurs.
On the other hand, a critical illness insurance plan covers a list of pre-agreed critical illnesses like cancer, heart issues, tumours, or any such diseases. If an insured person is diagnosed with any one of the listed critical illnesses, the sum assured and other benefits under the plan will be paid immediately.
When a family member or loved one is hospitalised, apart from the hospital bills many out of pocket expenses are incurred. Some of the out of pocket expenses are money spent for food, travel, and non-admissible items. To help people meet these expenses, a hospital cash insurance offers a fixed daily cash benefit or allowance if the insured is hospitalised.
Some insurance providers would ask you to undergo a medical check-up before you buy a health insurance policy. However, there are many who do not require it. This differs from one insurer to another.
If you already have an health insurance policy, please check if you have an option to surrender the plan to your insurer. At times, insurers provide certain benefits if a policyholder surrenders the plan after completing certain number of years.
If you have just purchased a health insurance plan, please check for the free-look period or the cooling-off period. Most insurance give free-look period within which the policyholder can return the policy back to the insurer.
You will also have an option to cancel the policy while renewing it. However, this depends on your insurance.
Increasing number of illnesses, unhealthy lifestyle, and poor health habits have forced many to contemplate about buying a comprehensive health insurance plan. No one can predict when an illness will knock us down. That's exactly why having a health insurance is very important these days. Some of the other reasons why health insurance is important are:
Some of the illnesses that are usually covered under a critical illness plan are:
Some of the parameters that an insurer considers while calculating the premium for your health insurance plan are:
For a comprehensive list of factors that are considered while calculating premium, please visit this page.
If a insured person is hospitalised in a non-network hospital, they will have to pay the hospital bill and later file a reimbursement claim. Generally, the procedure to file a reimbursement claim is as follows:
To avail cashless settlement benefit, the process is as follows -
In case of planned hospitalisation:
In case of emergency hospitalisation:
Most insurers allow you to reinstate your health insurance policy within 2 years from the date of the first missed payment or the discontinuance date. However, this differs from one insurer to another. Please check the renewal procedure for your policy with your insurer.
A health card is like an identity card given by the insurer to the policyholder. It contains information like the policyholder’s insurance account number, the name of the insured, the age of the insured, gender, policy expiry date, and other such vital information. It is mandatory for an insured person to show the health card at the hospital in case of hospitalisation.
A health card is very important because:
There are many leading health insurance companies in India. However, the best health insurance company differs from one person to another. It depends on the type of insurance coverage you are looking for and who cater your needs better.
If you are looking for a best health insurance plan, please consider the following:
Most insurers have a change request form that you will have to fill to change the address. Some of the insurance also allow you to change the address online by filling a virtual form. Please note that you will have to submit the form along with your new address proof.
Most insurance providers allow you to increase your sum assured at any time during the policy. Insurers these days also offer top-up health insurance plans. A top-up insurance plan allows you to attach additional cover to your existing insurance plan at a nominal cost. Please check with your insurer for this option. For more details: Top-up health insurance plans.
Yes. A person can have more than one health policy. In case of hospitalisation and claim settlement, each insurer will pay as per the ratio agreed by them. More details: Claim settlement procedure for multiple health policies.
The policy can be renewed if you pay the premium dues within the grace period which is 15 days from the expiry date. The policy will lapse if the premiums are not paid within the grace period. There is no insurance coverage available during the grace period.
Yes, as per the Health Insurance Portability and Accountability Act, you can transfer your health insurance policy from one insurer to another without losing the policy benefits.
After a claim has been settled, the policy coverage will reduce by the settled amount till the end of the policy term.
'Any one illness' means the continuous period of illness which includes the relapse period within a certain number of days as specified in the policy document. Usually, this is 45 days.
Any number of claims can be made during the policy term unless there is a specific limit mentioned in the policy document. The sum insured is the maximum limit one can claim under the policy.
Once in 4 years, some insurers pay for health check-ups of the life insured. This is called ‘health check’ facility.
Some insurers appoint a Third Party Administrator (TPA) to process all the claims of their policies. The contact details of the TPA will be available on your health card.
Based on the age of the life insured and certain medical conditions, a medical examination may be required.
No, you don't have to undergo a medical check-up every year if you ensure to renew the policy continuously without fail and there are no changes in the policy terms and conditions.
You have to pay for the pre-policy check-up. Some insurer will reimburse 50% of the cost.
A medical practitioner is a person who is registered with the medical council of any state of India and is thereby entitled to practice medicine within its jurisdiction. It can be a physician, specialist, surgeon, etc.
Medical expenses are the expenses incurred by the life insured for medical treatment received during the policy period on the advice of a medical practitioner due to an illness or accident.
The expenses can be indemnified through reimbursement claims or availing cashless services at a network hospital.
Cashless facility is available only at your insurer’s network hospitals.
Use the network hospital locator available on your insurer’s website for the list of network hospitals available in your area.
Cashless facility may not extend to government institutions.
Yes, the insurer will pay the entire amount for the medical expenses incurred subject to the sum insured. You may have to pay for the non-medical expenses and those that are not covered by the policy to the hospital before your discharge from the hospital.
In case of cashless treatments, the cheque will be sent to the network hospital where the life insured availed treatment.
Co-payment is a cost-sharing requirement wherein the life insured will bear a specific percentage of the admissible costs. Co-payment doesn't reduce the sum insured but it reduces the insurance premium.
It is the specified period of time from the date of policy inception, after the completion of which the full or partial insurance cover will begin or become active. The waiting period for a senior citizen health insurance plan is higher, from 1 to 4 years for certain illnesses.
The group insurance provided by your employer will offer only the basic cover. Employers offer group insurance as a liability cover. It doesn’t fully cover your needs. If you were to shift organizations, the insurance cover from the previous employer will cease. In addition to your group insurance policy, it is advisable to have an individual health insurance plan to adequately cover you and your family.
Group insurance package is purchased by an organization for the benefit of its employees. Individual insurance is bought by individuals for themselves or their families. The differences between the 2 insurance are as follows:
Most countries insist on seeing a valid travel insurance policy upon entry. Receiving healthcare in a foreign country can prove to be a costly affair. When you make travel plans, it is advisable to be prepared for unforeseen, unfortunate events like a medical emergency or a personal accident during the duration of your trip.
Be well-prepared by purchasing an overseas travel insurance policy that offers adequate medical cover against medical expenses including ambulance fees, medical treatment, medical evacuation, and hospitalization. The insurer will settle the claim once the insured person has returned to India except in the case of hospitalization.
Lifestyle diseases like diabetes, hypertension, and obesity have become prevalent among the younger generation. Treatment for critical illness is expensive without an insurance cover. A Critical Illness Rider will provide medical coverage against specified illnesses. Most policies cover 10 to 25 critical illnesses. Heart attack, cancer, stroke, and sclerosis are some of the illnesses covered by this rider.
The insured person must survive minimum 30 days from the date of diagnosis to make the critical illness claim. The waiting period is 60 to 90 days under most policies. You can also get tax deductions on premiums paid towards a critical illness rider under Section 80D of the Income Tax Act, 1961.
A 26-year-old man, a poor farmer’s son, hailing from Erode district in Tamil Nadu underwent a heart transplant surgery free of cost. The surgery was covered under the Chief Minister’s Comprehensive Health Insurance Scheme.
The surgery of the man took place in Kovai Medical Centre and Hospital in Coimbatore (KMCH). The transplant was performed with a heart donated from a brain dead person last week. The entire surgery was done free of cost with the help of the Tamil Nadu Chief Minister's Comprehensive Health Insurance Scheme.
KMCH chairman Nalla G Palaniswamy stated that the whole process, from harvesting the organ to transporting it, had to be carried out very fast since the patient’s heart was functioning only 15 percent. Usually, heart transplants cost approximately Rs.14 lakh with anadditional Rs.1-2 lakh for post-surgery medication.
18 January 2019
The Gem and Jewellery Export Promotion Council (GJEPC) has introduced identity cards for artisans in West Bengal. The ID cards are all set to be rolled out nationally later this month. The apex body of gems and jewellery industry is also holding advanced talks with the ministry of skill development and entrepreneurship (MoSDE) to nationally classify the artisans and workers in the sector under the Labour Management Information System (LMIS).
The classification will prove to be beneficial for the workers as it will provide additional benefits under relevant schemes of the MoSDE. The council has also created Swasthya Kosh, a fund designed to offer health insurance to ID card holders and their families.
The introduction of the ID card will ensure proper authentication for social security purposes. With this project, the GJEPC aims to create a well-crafted database of the workers in the gems and jewellery industry to provide them with better job opportunities, financial assistance, and healthcare care services through the specially designed smart cards.
18 January 2019
The market share of state-owned insurance players has dipped from 47% to 45%. In the FY17, the new crop insurance scheme of the government caused a spike in the non-life premiums, leading to a drop in growth rates from 33%. In FY18, the sales in non-life insurance policies was up by 10% selling 1,708 lakh policies. In 2017-2018, the non-life industry grew to Rs.1.50 lakh crore from Rs.1.28 lakh crore, which is 18%. In FY18, the only PSU that increased its share to 15% was New India Assurance. Despite a fall in market share from 8.37% to 8.20%, ICICI Lombard continued as the top private in the premium income category. Private companies had an increase in policy numbers to 26% whereas the sales of PSUs shrank by 5.8% for the number of policies that were sold. The health insurance sector saw the highest growth in premium, rising to 22%, or Rs.41,981 crore in the year 2017.
17 January 2019
Chhattisgarh will replace the Center’s national health insurance scheme, the Pradhan Mantri Jan Aarogya Yojana (PMJAY) with its own universal healthcare scheme, as announced by the new Congress state government. The plan is to strengthen the preventative and primary healthcare by focusing on public health facilities. PMJAY currently covers Rs.5 lakh hospitalization expenses for over 40% of the country’s poor which amounts to more than 10 crore beneficiaries. States can choose whether to run the scheme by setting up a trust or by partnering with insurance firms. Of the scheme’s expenses, 60% is contributed by the Central government with the remaining being contributed by each state. Odisha, Telangana, and Delhi are some of the states that have not opted for PMJAY. The Chhattisgarh government is setting up the new plan with consultations with public health professionals. Under the new plan, the state government aims at providing access to free diagnostic and drugs and ensure adequate staffing in public health facilities. Currently, the state government plans to use the funds available under PMJAY and the National Health Mission for this purpose. Similar schemes are being implemented in Delhi, Rajasthan, and Tamil Nadu.
16 January 2019
Venkaiah Naidu, the Vice President of India, was addressing Rangaraya Medical College at its Diamond Jubilee which coincided with its Old Students Association’s Golden Jubilee, in Kakinada, last weekend, where he proposed that a doctor in the government service should compulsorily serve in rural regions prior to getting their first promotion. He went on to add that programs and policies are drawn up by the governments to improve medical facilities in India. Young doctors were asked to be sensitive when dealing with patients and their families. He also said that the personal touch and bonding that was necessary in such a work environment was missing in the modern world because of factors such as work pressure, commercialization of the profession and increased reliance on investigations. He asked doctors to establish personal bonds with patients by spending more time with them, calling on the private sector to work with a spirit of missionary zeal, commitment and altruism. He concluded by saying that the country has made considerable improvements so far as the provision of basic as well as advanced medical facilities were concerned.
14 January 2019
Prince Dhawan, the Deputy Commissioner of Itanagar Capital Complex, recently released a special enrolment camp aimed at transport federation members so that they can be enlisted in 3 state and central government schemes – the Chief Minister’s Arogya Arunachal Yojana, the Pradhan Mantri Suraksha Yojana, and the Pradhan Mantri Jeevan Jyoti Bima Yojana. The Deputy Commissioner spoke on the occasion, encouraging all members who are associated with the transport sector as well as those who were part of the All Arunachal Pradesh Transport Federation to ensure that they were enrolled into the above-mentioned schemes. He asked them to also urge others to enroll themselves as well. According to Mr Dhawan, the premiums associated with these schemes is meagre and these schemes can come in very handy in times of hospitalisation and untoward incidents. Previously, the president of the All Arunachal Pradesh Transport Federation, Dobing Sonam, said that there were over 1300 enrolments under all 3 schemes when the camp was conducted earlier in Itanagar.
11 January 2019
Provided no claim is made in the first year, Edelweiss General Insurance is offering a free second-year cover for the policy rider with the main aim of getting youngsters to buy health insurance. On paying an additional premium of 25% for a rider, the feature of free renewal is available.
Mediclaim of Rs.5 lakh can be purchased for a base price of Rs.5,549 by a 30-year old, under this scheme. The policyholder will get Health 241 rider on paying an additional premium of Rs.1,387, which allows him or her to be entitled to a second-year free cover, provided no claims are made in the first year. The total price of the insurance policy will come up to Rs.8,185, inclusive of GST. Features such as Aayush and bariatric treatment are covered under this scheme, apart from free renewal.
10 January 2019
The State Consumer Commission has passed an order that all tests before a surgery, including an MRI, must be covered by medical insurance. Also, pre-surgery tests and consultation expenses incurred cannot be refused just because it was undergone by the policyholder 30 days prior to the surgery, as further specified by the commission.
The commission was brought in to book New India Assurance Company Ltd. after it rejected a reimbursement claim pertaining to non-medical expenses and pre-surgery. The claim was made by V Sridhar, a Dombivli resident, for the expenses he incurred for his son’s knee surgery.
9 January 2019
The domestic online pharmacy is controlled and calm enough to reach the target of Rs.25,000 crore by 2022 at a huge CAGR of 63% maintained due to the increased access of a majority of under-served people to medicines, increased internet penetration, and drug compliance for chronic illnesses. It is assumed that the online medicine market which currently accounts to R.35,00 crore would be around 15% to 12% of the total sales of pharma sector in next 10 years. As a matter of fact, this surge in the sales of online medicine has resulted from various factors such as 'Digital India movement, ‘Ayushman Bharat’, e-healthcare initiatives, and growing health insurance policies. According to the experts, the retail pharmacy which had suffered from serious competition pressure, lack of documentation, and low inventory management in the past can address all the issues through a technical upgradation of its model. This will streamline the process and computerise the pharmacies resulting in better management.
8 January 2019
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