What is IGMS? The Integrated Grievance Management System(IGMS) facilitates online registration of policyholders’ complaints and helps track their status. How do you use IGMS? A policyholder can make optimum use of this system by giving accurate information about the … [Read more...] about File your insurance complaints online with IRDA’s IGMS
Home Insurance
Chola MS launches Individual Healthline and Chola Total Home Protect
Chola MS General Insurance launches Individual Healthline (IHL) and Chola Total Home Protect. Chola Healthline mediclaim even covers dental care and ayurvedic treatment under an ‘advanced’ option. IHL is India’s first health insurance policy to cover hospitalization for Ayurveda … [Read more...] about Chola MS launches Individual Healthline and Chola Total Home Protect
Wrong insurance product sold, what to do now?
Relationship manager of a leading private bank had suggested an investment cum insurance product to Vipul, a ULIP policy, which their bank was offering due to their tie up with an insurance company. The Relationship Manager explained Vipul all the policy terms in details. Vipul … [Read more...] about Wrong insurance product sold, what to do now?
Why insuring your home is must?
The recent earthquake and then tsunami in Japan has raised concern to cover our self with adequate life insurance and more particularly home insurance. In India, we only take home insurance when we take home loan. But most of us forgot that most of us are living in earthquake … [Read more...] about Why insuring your home is must?
What does Home Insurance policy covers?
Home insurance covers the costs of repairing or rebuilding the household, if its damaged or destroyed by an insured peril that is included in the policy. The coverage may also include the contents costs with home, depending on the type of insurance policy. Broadly speaking the … [Read more...] about What does Home Insurance policy covers?
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?
How underinsurance and overinsurance will affect you?
Samir had bought a Honda City last year and added few latest accessories in it. Now it’s time of insurance renewal of the Honda City, so he called up an insurance agent. Insurance agent checked the latest market price of that model and gave him the IDV(Insured declared value), … [Read more...] about How underinsurance and overinsurance will affect you?
How to reduce your home insurance premium?
The best way to reduce your home insurance premium is to cut the risk of the insurer having to pay out. This can be done in a number of ways - 1. Fit a burglar alarm in the home, 2. Put latest and advance locks, 3. Join a neighbourhood watch scheme, 4. Install security … [Read more...] about How to reduce your home insurance premium?
What your home insurance may not cover?
Mr and Mrs X bought a home insurance policy last year, only to be told that it would not pay out when they made a claim. Mr and Mrs X was away from the home for 45 days to Australia to see his son and his family, with no one occupying his home in India. On returning back to … [Read more...] about What your home insurance may not cover?