Beshak In The News

Find out why are health insurance policies sold by banks, or the likes of Paytm and PhonePe, much cheaper? How do these plans work? Are there any potential drawbacks one should be aware of?

In an announcement, government stated that the extended scheme would benefit approximately six crore senior citizens. They will be able to access a health insurance cover of Rs 5 lakh per family.

Many of us always carry debit and credit cards but are we aware that these cards also come with a complimentary personal accident insurance cover? Yes, you can claim your insurance through these cards. While some banks offer complimentary insurance on cards, some charge a monthly fee for the coverage.

Insurance companies have their underwriting processes. While some policies might include a mandatory medical check-up based on age, sum insured, or other factors, the insurer, not the customer, generally determines whether one is required

India's insurance sector is currently in the spotlight. In this piece, the premiums for various insurance policies are analyzed. Additionally, a comprehensive financial guide for insurance plans and expert portfolio advice is offered.

Health insurance policies attract an 18% GST rate on the total premium paid, the second highest tax slab. However, as premiums see a sharp rise due to medical care becoming more expensive, the government could be forced to reconsider its decision.

Rising insurance premiums have become a pressing issue for consumers. HDFC Life, ICICI Prudential, Bajaj Allianz and Max Life Insurance have hiked their term insurance premiums by 4 per cent to 7 per cent in past months. As consumers grapple with these rising costs, understanding the underlying reasons and exploring strategies to mitigate the impact is crucial.

Health insurance policies cover your medical expenses, but it's important to understand that it does not necessarily eliminate all out-of-pocket costs. If someone claims that purchasing a health insurance policy will ensure no out-of-pocket expenses, it’s a red flag that the policy might be misrepresented or oversimplified.

Insurance is all about risk coverage, so the insurance company will always analyse the risk involved before issuing a policy. These risks could be influenced by factors as varying as health conditions, including diseases and treatments, lifestyle habits, or even your job profile and working conditions.