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December 2013

Critical Illness Insurance
Critical illness cover and critical illness insurance is a form of protection that can provide you with a lump sum payment if you suffer from a covered critical illness and the survival period is satisfied.

Most individuals mostly the young individuals know the importance of the Health Insurance Plan. Individuals may receive many benefits from the purchase of a critical illness insurance plan depending upon the certain conditions.

Individuals must carefully examine the specific policy to know what it covered, in general most critical illness policies covers Heart Attacks, Bypass surgery, stroke, cancer and many more. Some policies also cover the loss of vision or hearing. Consumers should also determine what proof that the policy requires of the illness. 

Policy Riders:
Policy riders or we can say benefit riders are add-on insurance policies that cover health related services that are not typically covered by the health insurance plan.

General Riders Available with Health Insurance Policies-
  • Ø  New Born Baby Care
  • Ø  Hospital Cash
  • Ø  Patient Care


The Best Plan:
The best way to compare plans is to contact Composite Health Insurance Broker so that you can compare the offerings of the several companies.
Making a smart decision on what plan is best for you and your family will require you to take following points in consideration:
  • 1.    How much will your insurance premium?
  • 2.    Can you choose doctors and hospitals of your choice?
  • 3.    Are your specific health conditions covered by your insurance plan?
  • 4.    What is claim settlement procedure?



Bajaj Capital Insurance – Comprehensive Online Insurance Portal


If you want to get the best-suited health insurance quotes, you can use comprehensive online insurance portals to get the best-rated health insurance plans. Such portal provides you the insurance plan details with the insurance premium from the top insurance providers in India under the one roof.

Health Insurance Plan


Affordable financial security for you and your family: – Health Insurance Plan


When you start thinking about financial security, you must need health insurance plan. Investment is one of the important things you can do to secure you financial future. But what happens if you get injured or ill at any stage of the life. Your hard-earned investment may spend on your hospital bills. Which surely affect you financial planning. Sudden accidents or illness can happen to anyone at any time, and medical bills could derail all of your careful laid plans. Therefore, it is necessary to have Health Insurance Coverage.

However, getting the best-suited health insurance planis a not an easy task. Moreover, not suited or less suited health insurance plan may cause a threat to your future financial plans. So it is very important to identify your need for getting the best suited health insurance plan.

Shelly Singh of Bangalore is looking forward for Health Insurance plan, as her current employer not providing the health insurance benefits. She starts looking for the health insurance options offline. However, after looking too many of the health insurance options she gets confused. She said- getting best-suited health insurance plans is not an easy task.

Amit Sharma of New Delhi working with reputed IT Company in NCR getting health insurance benefits from the employer. But he realizes that an insurance offering from the employer is not sufficient and not suited as per his life style. When he starts looking for the health insurance plans online, he was stuck and not able to decide which is the best-suited health insurance plan. Then he feels the requirement of an expert advisor, who can provide him the customize health insurance plan as per his requirements.

This situation sucks! There are many of us facing the same problem. Health Insurance is a complex product as having many variables like individual health insurance plan, health insurance plan for family, critical illness plans, top up health insurance plans and many more.

If you want to get the best-suited health insurance quotes, you can use comprehensive online insurance portals to get the best-rated health insurance plans. Such portal provides you the insurance plan details with the insurance premium from the top insurance providers in India under the one roof.

Among many, BajajCapitalInsurance.com provides online advisory services where you can find the most suited and cost effective solution for you and your family’s health Cover.

What makes Bajaj Capital Insurance differ from others?

1. 50 years of financial services to Indian as well as NRI Clients as a Group
2. In house Claim Settlement team.
3. Free assistance by phone, chat and email.
4. 100+ Health Insurance plans from top health insurance companies in India.
5. Free Comparison engine
6. Buy Insurance policies online in minutes
7. And above all, security of your personal information.

Millburn Insurance, which wrote motorsport insurance (specifically very volatile On Track Insurance) as one of a number of different classes of insurance in the UK, Germany and Ireland, went into administration on Monday, 11th December 2013.

It has been quite a while since an insurer went to the wall, 2009 was the last time such headlines were rife, but Millburn have become the first UK regulated insurance company to enter administration since that time. They ceased writing new business about three months ago after the Prudential Regulation Authority (PRA) decided to "review" Millburn Insurance. They are also the first insurer to fail since the Bank of England took over as regulator of insurance companies via the PRA in April this year.

This is not going to be very healthy for the many motorsport teams who have been pressing to get their claims paid since 2012. Millburn only appear to have written On Track business for a matter of months before suddenly pulling out mid way through 2012 - presumably they had realised they had not managed their levels of disappointment well enough.

An Insurance Industry rag commented that "Neil Mather and Christopher Morris of Begbies Traynor have been appointed joint administrators, with Mather claiming that Millburn was the first insurance company he was aware of falling into administration in almost five years and described the firm's plight as "highly unusual".... no kidding!

In August and September this year the PRA had undertaken a review of the business and Millburn was subsequently placed into administration. It is understood that since the company sold their insurance through third party coverholders (brokers) there was only ever a skeleton staff - if that and there are no formal redundancies.

Are you a Team or Driver who has not been paid?


If you are in this unfortunate position, by all means feel free to contact me and I will tell you what I can or know. Millburn’s offices are about 30 seconds walk away - not that that has any bearing on anything, but the London Insurance Market is a pretty small community and I am sure there is going to be plenty to come out of the woodwork yet......In the first instance however you must contact your broker - in this case it will probably only be MIS Motorsport Insurance who - to the best of my knowledge - are the only broker to have ploughed significant volumes of On Track premium into Millburn.

Their contact details are: 43-45 Oxford Road, Guisely, Leeds, LS20 8AB. Tel 01943 884 55501943 884 555


Some policyholders may be eligible for compensation from the Financial ServicesCompensation Scheme

If you are a team from overseas, by all means contact the agent used to secure (?) your insurance but there would be no harm contacting MIS directly. I would.

Begbies Traynor is going to be reviewing the financial position of the company and will be releasing further information shortly about the state of play - after their fees are taken into account of course!! Begbies Traynor have been quoted as saying "Over the coming weeks we will be working hard to assess the company's financial position and agree the best course of action. It is a highly unusual event for an insurance company to find itself in administration; this is the first we have seen for almost five years" - insurance companies are not in the habit of just disappearing like this.

See also Cheap On Track Insurance


Online Motorsport Insurance with rated insurers

Cheap Motorsport Insurance May only be Fools Gold

 Millburn Insurance unable to pay motorsport insurance claims after entering administration

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