The Supreme Court has observed that any future prospect of an individual who is killed in any road accident will be taken into account while compensation is being awarded to his/her dependents. The standard criteria has been laid down for this purpose… Continue Reading
When it comes to insurance portability, it was formulated by the IRDAI (Insurance Regulatory and Development Authority of India) as a convenient mechanism for people who were not happy with their present health insurance plans and companies. Health insurance portability… Continue Reading
As per several reports and studies that tracked complaints received by the insurance ombudsman in the life category, mis-selling of insurance policies accounts for the majority of complaints. In the non-life segment, however rejections of claims on pre-existing ailment grounds forms the… Continue Reading
Health insurance in India has evolved with the years and there are now several kinds of health insurance plans and other initiatives that benefit customers immensely. One of these evolutionary initiatives is health insurance portability. IRDAI (Insurance Regulatory and Development… Continue Reading
Insurance claims are known to be a troublesome and difficult process. It is also very common for the insurance companies to deny the insurer’s claims. Have you ever known anybody to compensate for a mosquito bite? Sounds a bit strange but… Continue Reading
The NCDRC (National Consumer Disputes Redressal Commission) has pulled up insurance companies for keeping terms and conditions unclear in case of murder while directing the company in the instant case to stop this unfair trade practice in case of murder immediately. The Commission has stated that… Continue Reading
There is a 9-member board which has been entrusted with the supervision and administration of the Insurance coverage Ombudsman’s job. Out of these 9 people, 7 members are Insurance coverage corporation representatives. This indicates that a highly powerful role is… Continue Reading
You will be amazed to know that individuals who purchase health insurance are the worst off in our country, particularly if they have purchased their insurance plans from stand-alone private insurers. They face huge problems in getting payments from these… Continue Reading
According to IRDAI data, an amount of as much as Rs. 15,167 crore of policyholders is lying unclaimed with 23 life insurers. Insurers have already been instructed to take necessary steps so as to identify the policyholders or beneficiaries and… Continue Reading
We meet many Senior Citizen who have been sold Life Insurance and regret that they have bought Life Insurance which is not needed by them I often wonder why should they buy life insurance and tried to list the reasons:… Continue Reading