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5:26 PM
You will have to serve a waiting period when you sign up for a Health Insurance Policy or enhance your level of coverage.  Waiting period is necessary to keep the health cover fair. A waiting period protects the insurer by ensuring that individuals are not able to make a claim shortly after buying a Health Policy.
Waiting period also called the cooling period. It is the time after the purchase of policy under which no claim paid other than in the situation when claim has resulted due to an emergency. It varies (from 30 days to 90 days) from insurer to insurer.

Pre existing, waiting periods and Exclusions in a health Insurance policy 

Pre-existing are the diseases from which a policyholder suffers from before taking a health insurance policy. Most of companies in industry provide coverage to these pre-existing diseases after four continuous years of coverage.


Waiting Period for Pregnancy (Maternity waiting Period) 

Maternity benefits paid by certain health insurance policies/providers. However, most of them have a waiting period of 9 months to 48 months. It just means that health insurance plan needs to be planned much ahead of planning your family to cover all the expenses involved in the same and it cannot be taken after conceiving.   

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1:03 PM

Everyone wishes for good healthy life. However, bad time comes without knocking. We expect best treatment in the best hospitals for our loved ones. Good treatment incurs big cost. This is why Health insurance comes into picture, which helps us to maintain financial losses due to hospitalization.
Buying the right health insurance policy is very important but it’s difficult, as it’s not something that We do on daily basis, and the information and pricing can be complex.
When we endeavor to find the best-suited health insurance policies, it includes as much information as possible. We cannot show everything but we can show you many things.
Following is the list of Top HealthInsurance policies offered by top insurers in India with the complete plan details, which can really help you get the right health insurance plans to secure the happiness of your loved once.
               
Insurer
Apollo Munich
Religare
L&T
Max Bupa
Plan Name/ Features
Optima Restore-Family Floater
Religare Care
My Health
Medisure Classic Insurance-Family Floater
Heartbeat -Family Floater- GOLD plan
Room Rent
No Capping
Single private room
1% of sum insured max. 4000 per day ICU 2% of sum insured max. 6000 per day
No Capping
Pre-Existing Disease Cover
After 3 Years
After 4 Years
After 3 Years
After 4 Years
Maternity Benefits
Not covered
Not covered
After 4 years
If S.I. 5 Lacs , Rs 40000, S.I. 7.5 Lacs , Rs 45000, S.I. 10 Lacs , Rs 50000, Upto 2 deliveries (After 2 years)
Ambulance Charges
Upto Rs.2,000
Upto Rs.2000
Upto Rs. 1500
Covered
Cashless Benefit
In network Hospitals
In network Hospitals
In network Hospitals
In network Hospitals
Domiciliary Hospitalization
Covered
Upto 10% of sum insured
Covered
If S.I. 5 Lacs , Rs 25000, S.I. 7.5 Lacs , Rs 37500, S.I. 10 Lacs , Rs 50000
Free Health check up
Not covered
Every year
1% of sum insured (after 4 claim free years)
Yearly at the time of renewal
Tax Benefit
Covered
Covered
Covered
Covered
Sum Insured 5 Lakh/ Age 29 yrs
11149
10265
10782
17403


Insurance comparison is very important to getting the right health insurance policy. Keep following fine prints in mind while looking for the health plan-
·         Find the policy that meets your needs and must compare their features before making purchase decision.
·         Medical cost may vary from tier one cities to tier two cities. So do a check before finalizing health policy
·         Find what suits best - Individual HealthInsurance, Family Floater Insurance, or Critical illness insurance. This defines the investment cost and maximum benefits of the policy.

Hoping the above plan details help you a getting the right health insurance plans from the best insurer in India.
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6:14 PM ,
The sight of skidded cars and bikes after a drizzle last week was a grim reminder that monsoon is also a season of mishaps and illnesses. Despite knowing this, chances are that you may miss one item in your regular monsoon checklist — insurance covers. You can always take precautions to avoid or minimise the damage, but what if adisaster strikes despite all efforts?


Only an insurance cover can mitigate your financial losses in such a situation. It is prudent to use this monsoon to review your insurance needs. Some of the covers that you opt to buy this monsoon, will start only after a waiting period of, say, 30 days. But, that shouldn't deter you from buying them, say experts. 

Health & Personal Accident Insurance

Rain or shine, you must have a health cover. In fact, you should even get it for all the family members. "Basic hospitalisation indemnity plan accompanied by personal accident and hospital cash covers are essential during the monsoons.

It is also necessary to take care of any illness-related exigency such as gastroenteritis and enteric fevers, which arise mainly during the rainy season," says Renuka Kanvinde, assistant VP, health insurance, Bajaj Allianz. You may not able to claim for illnesses immediately.

"When it comes to healthinsurance, standard exclusions such as 30-day waiting period for all conditions except accidents, pre-existing conditions, cosmetic treatments etc would apply." Acquaint yourself with co-payments, room rent restrictions and disease-wise capping in the policies.

Personal accident cover is another must for earning members of all age groups, say advisors. It covers treatment expenses related to accident, and offers compensation if the policyholder suffers from disabilities or succumbs to the injuries. "Apart from risks that slippery roads pose individuals undertaking activities like rafting during rains also expose them to dangers, and hence, a personal accident cover is a must. In fact, every earning member of a family must buy this cover," says KK Mishra, MD & CEO, Tata-AIG General.

However, do compare the policy features offered by various insurers before buying one. Opt for comprehensive covers that offer compensation for permanent partial and temporary total disabilities too, along with permanent total and partial disabilities and death

Home Insurance

A home insurance will help in case the structure or contents are damaged due to flooding, inundation, storm, cloud burst, lightening and so on. "It can be of help in a city like Mumbai where water-logging occurs quite often during monsoons.

You should go for comprehensive home insurance cover instead of limiting it to just fire and theft," says Mishra. However, go through the fine print carefully before signing up. "It is important to be aware that rain water damages are not covered under fire and home insurance policy," says Arvind Laddha, CEO, Vantage Insurance Brokers.

Auto insurance

"You must have motor insurance cover that takes care of all sorts of damages, since your vehicle is more prone to damages during rains," says Vijay Kumar, chief technical officer, motor insurance, Bajaj Allianz General. "Though the basic motor insurance plans will cover the damages on the body and other outer equipment of the car, there are some claims that are not payable under the basic motor insurance policy.

Source: The Economic Times                                                                                                                  
Dated: 12/06/2014


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5:51 PM
Not sure, what kind of health insurance coverage you required?  Let us help. We can calculate premium for you with the complete coverage that best suits your requirements.

Compare different health insurance plans to find the best-suited insurance cover. You can estimate annual insurance cost and savings or chat live with one of our expert adviser.

Individual health insurance works against the risk of incurring medical expenses among individuals. You can save money by comparing different insurance plans, regular reviewing your health insurance coverage, taking benefits from your employer’s medical coverage and living a healthy life style.

Health insurance is a way to protect you and your family from dangerous financial disaster that could be result of medical expenses or health related issues. Health insurance is the only way, which can help you in such critical situation. There are ways that save money on your health insurance premium like:-

  • Compare OnlineInsurance: Compare the different insurance policies with the complete plan details will definitely provide you the best suited health insurance policy as per your need.
  • Opt for two-year policies: Health Insurance Companies like Apollo Munich, HDFC Ergo, and Star Health offer two-year health plans. Chances are you will benefit on more than just the premium front.
  • Use Top up Health Insurance Plans: If you are looking for higher coverage, you can go with the top up health insurance plans. Enhancement in health insurance policy ensures that you get much improved policy at an affordable premium. 
  • No Claim Benefits: With a successful year without the insurance claim means, the premium you would pay in the following years would be lower.

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12:41 AM , , , , , , ,

BRSCC launch motorsport insurance initiative with MORIS.co.uk

Justin Everitt (MORIS.co.uk) & Dominic Ostrowski orf BRSCC
One of the most important pieces of paper for any MSA race licence holder is their own accident policy of insurance and MORIS.co.uk have been able to demonstrate they are ahead of the field when it comes to accessibility, speed and price. As Justin Everitt explains:

"I first had a race licence in 1986 and have had the pleasure of racing many cars since then. Most recently in the race winning MARCH 09R, but in this time also I have become painfully aware that while I have been lucky to survive uninjured, other are not so lucky. Serious accidents are very rare in motorsport – but they do still happen and so when I first tried to get myself insured I was surprised at both the cost and difficulty with which many brokers seemed to have in providing quick, easy and affordable solutions, so this set us on the path of creating an accessible and affordable insurance product specifically for MSA licence holders"

Motorsport Insurance Survey

MORIS.co.uk commissioned a small survey of motorsport insurance brokers with surprising results.  “The problem with all the motorsport insurance brokers who were approached was their speed of response. A premium of a few hundred pounds carries little earning potential for brokers to humble amateur race licence holders do not get the service they might expect. Some brokers wanted a swath of paperwork to be completed and some took as long as two weeks to generate a simple quotation. None were able to return a quotation in less than 48 hours. How quickly any of these brokers could produce a policy will no doubt vary considerably too. This has nothing to do with deriding motorsport insurance competitors comments Everitt, “but it is all about the internet platform that we have and which sets us apart from everyone else in the motorsport insurance game”


"Talking to Competitors at their level was vital"
 
In 2011 Everitt raced under the “I’m Insured – are you?” heading and the MORIS Marvels undertook further research with competitors asking simple questions about whether they regarded motorsport as being dangerous, whether they were insured or not and what they considered to be a fair price to pay for their insurance. 

 “The results were staggering” 

recalls Everitt, saying “so few actually had any cover and so many believed it was likely to be so expensive that they seemed to gloss over the whole subject and many were shocked to learn that for £69 an MSA race licenceholder can be covered for up to £250,000 for disability and I don’t know of any other worthwhile piece of paper in a race drivers kit bag”  

Going On Step Further with Race Driver Insurance

“We have been encouraged with the increasing number of MSA race licence holders who have taken advantage of our on-line motorsport insurance but at MORIS we wanted to improve on this further and create a “pay as you race” on-line insurance solution also and we are terrifically pleased to have the support of the British Racing and Sports Car Club (BRSCC) who  have partnered with MORIS.co.uk to launch a new insurance initiative that introduces a quick and very simple means for BRSCC Racing Members to insure themselves on a race by race basis. Currently there is nothing as low cost as this in the market".
Cottrell - Insurance Initiative

BRSCC’s Chairman, Bernard Cottrell explains “MORIS.co.uk and the BRSCC have maintained a relationship for many years and we have often assisted them conduct accident damage surveys. Last year MORIS asked a sample of drivers about their attitude to personal accident insurance and we were alarmed to learn just how few had adequate cover, with the additional cost and inconvenience being identified as particular drawbacks. As the leading club in the UK we feel it is important to encourage competitors to get appropriate cover and MORIS offers the quickest and best value way of achieving this”.

Justin Everitt of MORIS.co.uk explains further “We now have a simple on-line system that allows competitors to buy and pay for straight forward insurance from as little as £5.99 per race meeting. Our seasonal policies allow for £250,000 of disability benefit for as little as £69 and to my mind there is no more valuable piece of paper that I have when I go racing than my personal accident insurance policy. No other motorsport insurance competitors can offer such instant cover at such low premiums”

Dominic Ostrowski, the BRSCC’s Head of Marketing & Communications, added, “Via the link on our website racing members can easily select the level of cover and premium they require and MORIS will then deliver an instant policy any time of day or night. This offers a quick and easy way of getting peace of mind for a relatively small outlay, certainly in comparison to the overall cost of going motor racing”.  









Related Links
MSA Competitor Insurance Survey by MORIS 
Insuring Racing Drivers
Balls Out Ladies
Motorsport Insurance Survey 
Insurance for Children in Motorsport 
BRSCC support motorsport insurance initiative

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