Health Insurance or Critical Illness policy, not sure which policy to buy – check here which one is best for you. What is Health Insurance? Health insurance is a form of reimbursement insurance that pays you the cost of hospital expenses for any covered illness, disease, or … [Read more...] about Why should you have both – Health Insurance and Critical Illness?
Health Insurance
Relaxation in Agency norms for standalone Health Insurer’s Agents
IRDA (vide letter dated 28th November, 2006; link) allowed Star Health and Allied Insurance Company to avail the services of general insurance agents of other companies. Now this special dispensation is extended to all the Standalone Health Insurance Companies and will be valid … [Read more...] about Relaxation in Agency norms for standalone Health Insurer’s Agents
Things not reimbursable under health insurance
Following is a list of services, which are not reimbursable as per the standard health insurance policy - 1. Hospital Registration and Admission fees 2. Documentation charges, Certification fees or any kind of Xerox Charges 3. Ambulance Charges 4. Ancillary medical facilities … [Read more...] about Things not reimbursable under health insurance
Material Facts – Facts which need to be disclosed and facts which need not be disclosed?
What is a Material Fact? Any fact which would influence the insurer in accepting or declining a risk or in fixing the premium or terms and conditions of the contract is material and must be disclosed by a proposer, or by the insurer to the insured. Material Facts in other words … [Read more...] about Material Facts – Facts which need to be disclosed and facts which need not be disclosed?
Why knowing exclusions are important in Health Insurance Policy?
While buying a health insurance policy brings with it a lot of relief as far as claims expenses are concerned, there may also be times of trouble, in case you are not aware about the aliments that are covered and those that aren’t, by your health insurance policy. It is … [Read more...] about Why knowing exclusions are important in Health Insurance Policy?
FM proposed rollback of 5 per cent service tax on healthcare services
Finance Minister on Tuesday announced a rollback of the proposed 5 per cent service tax on healthcare services. Mukherjee announced his decision to exempt service tax in “its entirety both in respect of services provided by hospitals, as well as by way of diagnostic tests until … [Read more...] about FM proposed rollback of 5 per cent service tax on healthcare services
Budget 2011 – Service Tax Changes – Health Insurance Premium set to increase
Health Insurance Premium costs are set to rise, with FM bringing in all services provided by hospitals with 25 or more beds and with air-conditioning in the service tax net. Service Tax on Health Services The mediclaim or health insurance will be increase because - 1. All … [Read more...] about Budget 2011 – Service Tax Changes – Health Insurance Premium set to increase
Health Insurance premium tax deduction under Sec 80D
As per IT Act, Section 80D provides for deduction available for health premium paid. Who all eligible Sec 80D deduction is available to - 1. Individual (resident or non resident ,Indian Citizen or foreign citizen) 2. HUF (Hindu undivided Family may be resident or non … [Read more...] about Health Insurance premium tax deduction under Sec 80D
'Portability of Health Insurance' now reality
As per Insurance Regulatory and Development Authority (IRDA) latest press release, health insurance policy holders will soon have the choice to switch over from one company to another company under the new portability option. The move is expected to increase quality of services … [Read more...] about 'Portability of Health Insurance' now reality
LIC's Health Protection Plus : Review
LIC’s Health Protection plus is a unique long term health insurance plan, which combine, health insurance covers for the entire family (husband, wife and the children), Hospital Cash Benefit (HCB) and Major Surgical Benefit (MSB) along with a ULIP component (investment in the … [Read more...] about LIC's Health Protection Plus : Review