The Insurance Regulatory and Development Authority of India (IRDAI) reported that 11% of health insurance claims were denied in FY24, totalling ₹26,000 crore in repudiated claims.
In a landmark move, IRDAI has removed the age limit of 65 years for individuals buying health insurance policies. This marks a departure from the conventional constraints that limited individuals in securing comprehensive coverage. CNBC TV18 spoke to several experts for their take on the policy shift and its implications.
Under the 'Cashless Everywhere' system, policyholders will have the liberty to select any hospital for their treatment, breaking away from the limitations imposed by agreements or tie-ups between insurance companies and healthcare providers.
IRDAI has urged insurers to introduce tailored policies aimed at specific demographics, such as senior citizens and millennials, acknowledging the diverse needs within these segments.
Even treatments that require less than 24-hour can qualify as day-care treatments and are thus eligible for health insurance coverage. Read to know what's included and what's not.
Over 160 dengue cases have been reported in the national capital till mid-July this year, the highest for this period since 2018, according to a municipal report released on Monday, July 17. The report, issued by the Municipal Corporation of Delhi (MCD), also said 54 cases of malaria have been recorded in the same period.
Insurance plans are beneficial to anyone looking to protect their family, assets/property and themselves from financial risk and losses. Rising inflation, increasing medical costs, increase in lifestyle diseases, uncertainty in climatic conditions are good enough reasons for people to protect themselves with a strong financial cushion.
Considering the uncertain times we live in, health insurance comes in handy — irrespective of your age. Often, people make the mistake of underestimating the importance of getting insured in their early years, thinking that it brings value only in the later stages of life. However, no matter what the age group, unforeseen circumstances may strike at any point.
Life Insurance Corporation of India (LIC) has launched a campaign to revive old insurance policies that were closed before maturity. Under this, LIC policyholders who shut their policies for any reason can start them again. The campaign will run till March 24, 2023. The insurance behemoth is also offering concessions in late fees during this tenure.
