BSE EBIX Insurance Broking, a joint venture of BSE and Ebix Fincorp Exchange, has announced the beta launch of health insurance products on its platform. For this, BSE EBIX has tied up with Religare Health Insurance. According to a press release on the BSE website, through this launch, BSE EBIX will now be able to offer various health insurance products to its participants. According the press release, "By the end of June 2020, BSE Ebix plans to enroll Religare Health Insurance Company Ltd, Aditya Birla Health Insurance Co Ltd, Star Health & Allied Insurance Co Ltd in Health products and Aditya Birla Sun Life Insurance Co Ltd, Bajaj Allianz Life Insurance Co Ltd and ICICI Prudential Life Insurance Co Ltd. in Life insurance products on BSE Ebix platform. Ashishkumar Chauhan, MD & CEO, BSE said, “Launch of health insurance strengthens our offerings in the insurance distribution segment. BSE wants to leverage its world-class technology and expertise in transaction … [Read more...] about BSE EBIX Insurance Broking announces beta launch of health insurance products on its platform
Buying health insurance on your own
The Insurance Regulatory and Development Authority of India (IRDAI) has directed all general and health insurance companies to mandatorily offer a standard Benefit Based Covid-19 health insurance product by July 10, 2020. This will be a standard benefit-based insurance policy for individuals which will provide coverage of up to Rs 2.5 lakh for hospitalisation expenses related to Covid-19.The policy will be named as Corona Rakshak Policy succeeded by the name of the insurance company.These are the five key features of the standard coronavirus policy:The health insurance policy will take care of basic Covid-19 related health needs of the insuring public;It will be a standard product with common policy wordings across the industry;Senior citizen up to the age of 65 years can avail this policy;The policy will be issued for three and half months (3 ½ months), six and half months (6 ½ months) and nine and half months (9 ½ months) i.e, 105 days, 195 days and 285 days … [Read more...] about Will Standard Benefit Based Coronavirus Health Insurance policy help you?
For someone who has put their insurance off until they are 45, they will be subjected to pay 30 per cent more. On the average singles hospital cover of $1977 per year, that will end up being $593 more each year or a costly $5931 over the course of the 10-year loading period. … [Read more...] about Lifetime Health Cover: How to avoid July 1 LHC loading deadline
We have been able to take insurance distribution to the hinterland, which has been grossly underserved, says Pushan Mahapatra. How has Covid changed things for you? I think this pandemic has changed many of our old ways of thinking around the way life ran. Insurance traditionally has been more of a push product though the value of insurance for individuals and for businesses is very-very high. But somehow it had never been at least for the retail side. But what we have seen since mid-March when pandemic really started exploding is that people started searching for health insurance. What is it all about? What can it cover? If they had a policy, they went about checking whether my current policy has coverage for Covid-19 and so on. Quite a bit of those online searches came down to inquiries with insurance companies. First was regarding their own coverages, whether their policies covered Covid-19 and they were also about purchasing new policies. One thing which is very clear today is, … [Read more...] about Rural markets need simpler insurance products that can create value: SBI General CEO
Cannot buy health insurance for your parents and don't have money to invest under section 80C for the purpose of tax-saving? You can still save tax under section 80D by claiming deduction for medical expenditure for your parents. Here's how.We all know that apart from buying health insurance policy for ourselves or family members, we can also save tax by buying health insurance for our parents. But as one grows older, the premium on health insurance goes up. Premiums paid for health insurance policies, especially for senior citizens, are on the higher side. And not everyone can afford to pay such higher premiums. Insurers may also be reluctant to provide medical insurance for those who are old and/or suffer from pre-existing ailments.However, Budget 2018 brought some relief for senior citizens aged 60 years and above who incur high medical expenses and are unable to buy health insurance policy due to pre-existing conditions or can't afford the high premiums. Budget 2018 has amended … [Read more...] about Your senior citizen parents’ medical bills can help you save tax: Here’s how