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Insurance

The introduction of this AQI-based insurance policy comes at a critical time for Delhi NCR, a region frequently grappling with hazardous air pollution levels that disrupt daily life and economic activities.
Updated : Feb 25, 2025

Go Digit floats AQI-based insurance policy for Delhi-NCR construction workers

Go Digit General Insurance, in collaboration with KM Dastur Reinsurance Brokers, launches an innovative AQI-based parametric insurance policy to support migrant construction workers in Delhi NCR during pollution-induced construction bans, offering payouts of up to Rs 6,000.

According to GlobalData, the health insurance market is expected to reach Rs 2 lakh crore ($23.8 billion) by 2028, with medical inflation currently at 14%.
Updated : Feb 25, 2025

Health insurance: Policy premium goes up 73% since 2020, total insurance sum assured up 240% 

A recent report from insurtech platform Turtlemint has revealed the premium per policy in Tier 2 and Tier 3 cities has seen a remarkable 73% increase since 2020, demonstrating consumers' growing willingness to invest in more extensive health coverage. 

When customers apply for an insurance policy, they have the option to choose Bima-ASBA, allowing their bank to block the premium amount.
Updated : Feb 25, 2025

Bima-ASBA Facility: You can use this feature while purchasing Bajaj Allianz Life policies; check details

Bima-ASBA offers policyholders the option to utilise UPI's One-Time Mandate (OTM), which allows them to authorise the reservation of a designated amount, up to Rs 2 lakh, in their bank account. The reserved amount is only deducted once the insurance company completes the underwriting process and approves the policy proposal. 

Under the programme, recipients will be provided with health insurance coverage of Rs 10 lakh, with the central government and the Delhi government each contributing Rs 5 lakh.
Updated : Feb 21, 2025

Ayushman Bharat Scheme in Delhi: CM Rekha Gupta gives nod to rollout of scheme; check eligibility, details 

The previous AAP government in Delhi, during its 10-year tenure, chose not to implement the Ayushman Bharat Scheme, citing the existence of the Delhi Arogya Kosh which provides free treatment to Delhi residents.

Bima-ASBA will be effective March 1
Updated : Feb 19, 2025

Bima-ASBA: New UPI-based insurance payment system for policyholders; here's how it works

IRDAI: The new system allows policyholders to block funds in their bank accounts for premium payments

A large number of people are still hesitant when it comes to buying a health insurance policy
Updated : Feb 18, 2025

'Health insurance is the difference between being well off and poverty…’: Expert explains why

India's insurance penetration rate slipped from 4.2 per cent in 2022 to 4 per cent in 2023

Most health insurance policies do not cover pre-existing diseases immediately
Updated : Feb 16, 2025

Why do health insurance claims get rejected? Expert weighs in

Understanding why health insurance claims get rejected can help policyholders avoid common pitfalls

The policy shift is expected to attract investments and enhance technology transfers and competition, ultimately benefiting policyholders and deepening market penetration.
Updated : Feb 08, 2025

India's Insurance Revolution: 100% FDI and Its Implications

With insurance penetration in India standing at 3.7% in FY 2023-24, well below the global average (6.8%), US (12%) and China (4%), there is a clear need for greater capital infusion and market expansion.

How can NRIs manage health insurances for elderly parents in India?
Updated : Feb 06, 2025

I am an NRI working in the UK, can I manage the health insurance and claims of my elderly parents residing in India?

To account for rising healthcare costs, opting for a higher sum insured — ideally Rs 20 lakh or more — is advisable.

It’s crucial to be honest about your smoking or drinking habits during the application process. There should be no misrepresenting or withholding information about smoking or drinking.
Updated : Feb 05, 2025

'Health insurers do not load the premium...': Insurance expert breaks down on clauses for smokers, alcohol drinkers

Despite common belief, individuals who smoke and drink alcohol can still qualify for health insurance in India. While some insurers may impose limitations, the majority of companies do provide coverage to such individuals.

His post quickly resonated with users, sparking a flurry of responses that reflected the frustrations of policyholders.
Updated : Feb 03, 2025

‘What is wrong with...?’: Insurance advisor cites rise in misselling as agents chase commissions, neglect customer service

In a post on X (formerly Twitter), the insurance advisor highlighted how the industry’s aggressive commission structure is drawing in individuals with little to no knowledge of insurance. 

As competition intensifies, the sector is expected to become more transparent, with faster claims processing and stronger consumer trust.
Updated : Feb 01, 2025

FDI limit in insurance sector increased to 100%: 'India could be on the path to having 1,000 insurers' 

India, with its vast and diverse population, has immense untapped potential in insurance.

The primary objective of NPS Vatsalya is to encourage early retirement savings habits and secure long-term financial stability.
Updated : Feb 01, 2025

Budget 2025: NPS Vatsalya tax benefits announced; child welfare investment fund to be covered under 80CCD(1B)

From now on, NPS Vatsalya subscribers will be entitled to identical tax advantages as standard NPS contributors for their donations under Section 80CCD(1B).

AB PM-JAY provides cashless cover of up to Rs 5,00,000/- to each eligible family per annum.
Updated : Feb 01, 2025

Income Tax Budget 2025 Live Updates: Will FM Nirmala Sitharaman offer senior citizens relief with Ayushman Bharat Yojana?

Healthcare experts believe that strengthening health insurance coverage through initiatives like Ayushman Bharat, focusing on patient care and life-sustaining treatments like dialysis, will play a key role in alleviating the financial burden on patients and their families.

In April 2024, the IRDAI eliminated the age limit of 65 years for individuals looking to purchase health insurance policies.
Updated : Jan 30, 2025

Insurance for seniors: IRDAI says yearly health insurance premium for elderly can’t be increased by more than 10%

The regulatory body has stated that insurance companies must seek approval before discontinuation of individual health insurance products targeted towards senior citizens.

Small hospitals and nursing homes, often unable to offer cashless facilities or forced to accept unreasonably low reimbursement rates, are losing patients to expensive corporate hospitals.
Updated : Jan 26, 2025

‘If this was a normal person...’: Insurance row erupts over Saif Ali Khan’s 'swift' ₹25 lakh claim approval

The AMC letter criticized what it called a “two-tier system” in India’s health insurance sector, where celebrities and corporate policyholders enjoy swift and large claim approvals, while ordinary citizens struggle with delays, low reimbursements, and capped benefits.

Last week, an intruder attacked Bollywood actor Saif Ali Khan, leading to a violent confrontation where the actor sustained stab wounds. TThe actor was quickly taken to Lilavati Hospital for medical treatment.
Updated : Jan 24, 2025

Saif Ali Khan case: Are celebrities being treated differently by health insurers? Finfluencers highlight problems

The midnight attack on actor Saif Ali Khan has highlighted the notable differences in how insurance companies handle claims for celebrities versus the average person.

At present, a GST rate of 18% is imposed on the premiums made towards life and health insurance policies.
Updated : Jan 21, 2025

'Paid Rs 5,467 GST...': Finfluencer questions high tariffs on insurance premium renewals

Experts and finfluencers have highlighted that the elevated GST rates discourage policyholders from renewing their policies and dissuade them from obtaining insurance coverage.

There have been a renewed focus on insurance claims and payouts in the light of Saif Ali Khan’s Rs 35.95 lakh medical bill for his treatment at Lilavati Hospital.
Updated : Jan 20, 2025

‘Can’t afford this stress’: Man writes to Nirmala Sitharaman over insurance redressal, FM responds 

Net incurred claims to net earned premium (claims ratio) of non-life insurance industry stood at 82.52% during 2023-24 as against 82.95% in the preceding fiscal year, as per the IRDAI’s annual report.

Himatsingka, popularly known as the ‘Food Pharmer’ is a certified health coach, who is on a mission to improve health literacy in India.
Updated : Jan 19, 2025

‘Unfortunately, 50% of all claims...’: ‘Food Pharmer’ sheds light on hidden practices in health insurance industry

Influencer Revant Himatsingka, popularly known as Food Pharmer, highlighted the clauses, blacklisted hospitals and exclusions that leads to rejected claims along with their possible solutions. 

Mishra advocates for a standardized package system across hospitals to curb inflated costs and make healthcare more accessible.
Updated : Jan 19, 2025

'Why such exorbitant charges...': Doctor questions Saif Ali Khan’s ₹35.95 lakh hospital bill

Mishra also pointed out the ripple effect of such high bills on insurance premiums. “These exorbitant charges directly affect the middle class, as rising payouts by insurance companies result in increased premiums for the general population,” he added.

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