scorecardresearch

Insurance

Some insurers may offer coverage for the pre-existing condition, while others may not, depending on the policy exclusions and/or their underwriting policy.
Updated : Aug 11, 2023

I’m 40 and have a family history of diabetes. How much term insurance coverage can I get?

In this edition of Ask Money Today, read about critical illness coverage and how you can protect yourself

A larger network ensures that your family members have access to quality healthcare facilities in their city of residence.
Updated : Aug 07, 2023

I moved to Delhi for work while my spouse and children reside in Mumbai. Can I cover all family members under a single health insurance policy?

In this edition of Ask Money Today, read about the factors one must consider while choosing a health policy

A Third-Party Liability Cover is mandated by law, and you may be liable to pay hefty fines if you do not opt for this cover.
Updated : Aug 04, 2023

Is buying a 5-year motor insurance policy from a dealer mandatory? What are the best options available?

In this edition of Ask Money Today, read about the different types of insurance available for two-wheelers

In recent times, the insurance industry has experienced a significant surge in claims, with almost all insurers receiving approximately three times more claims compared to previous years.
Updated : Aug 03, 2023

Life insurers retain higher risks as global reinsurers shy away from India post-Covid

Retention limit for life insurers has increased up to 30 per cent compared to the previous pre-Covid limit of 10 per cent

Pure term plan puts the grieving family at financial ease and lets them take care of immediate and future financial obligations.
Updated : Aug 02, 2023

Want to buy a life insurance policy? You must first know the types of term plans on offer

The benefits and costs of these plans vary, so it is essential that you choose one that fits your needs

The plan is for customers desiring high life cover at a reasonable cost.
Updated : Jul 27, 2023

LIC introduces term insurance with return of premium plan, LIC’s Jeevan Kiran: Know key features and benefits

The plan is available for sale online at our LIC India website. You can also purchase such plan offline through agents, corporate agents, brokers, and Insurance Marketing Firms (IMF).

NRIs can get tax benefits under Section 80D, just like Indian citizens if they file their returns in India.
Updated : Jul 21, 2023

My wife and I live in Australia. I suffer from hypertension. Can an NRI buy health insurance in India?

In this edition of Ask Money Today, read about what NRIs must consider while buying health insurance in India

A room rent restriction is effectively a limit set by the insurer in the health insurance policy, beyond which room charges during the hospital stay will not be payable.
Updated : Jul 20, 2023

My health insurer partially settled my claim. I disagree with the deduction, what should I do?

In this edition of Ask Money Today, find out how to compute deductions in your health insurance claims

Water damage can destroy everything from your car’s interiors to your wheels.
Updated : Jul 19, 2023

Follow these 9 steps if your car is flooded with water during the monsoon

It is essential to be prepared for extreme weather events by buying insuring your vehicle

PhonePe Insurance Broking Services is a wholly-owned subsidiary of PhonePe Pvt. Ltd. and is registered with IRDAI as a Direct Broker (Life and General).
Updated : Jul 18, 2023

You can now buy medical cover from PhonePe’s Health Insurance platform with monthly subscriptions

These plans come with coverage up to Rs 1 crore and allow users to choose any hospital room without any cap or limit

Generally, health insurance premiums tend to rise with age. You can take advantage of lower premiums by acquiring a policy at a younger age.
Updated : Jul 17, 2023

I’m a 21-year-old female looking to become a freelancer. Should I buy a health cover now or in a few years?

In this edition of Ask Money Today, read about the factors one must consider when opting for insurance cover

Comprehensive motor insurance is also essential to cover flood damage to vehicles.
Updated : Jul 12, 2023

North India floods: Here are insurance covers that can protect you against rain-related damage

It is important to have covers for business interruption and ensure that home insurance also includes damage cause by floods

The Engine Protection Cover is an optional add-on that you can purchase along with your regular motor insurance policy.
Updated : Jul 11, 2023

Does a motor insurance policy cover your vehicle against monsoon damage?

Motor insurance typically covers damage due to natural disasters, but certain exclusions may apply, especially when there is water logging and flooding

EDLI scheme is available to all employees who contribute to the provident fund.
Updated : Jul 08, 2023

EPFO: Here’s all you need to know about Rs 7 lakh insurance cover for salaried employees

This is one of the benefits of the scheme launched in 1976 to provide protection to family members of employees

As a general guideline, it is recommended to have a life insurance policy with coverage of up to 10 times your annual income.
Updated : Jul 07, 2023

My wife and mother are financially dependent on me. Is a Rs 20-lakh life insurance cover enough to protect them?

In this edition of Ask Money Today, read about the factors you should consider and guidelines you should follow when buying life insurance

You can buy this plan offline through an agent or other intermediaries, including point of sales persons- life insurance and common public service centres. Besides you can also buy it online directly by visiting the LIC website.
Updated : Jul 03, 2023

Should you buy LIC’s close-ended single-premium guaranteed endowment policy ‘Dhan Vriddhi’?

The plan is available for sale from June 23 to September 30; sum assured on death can be 1.25 times or 10 times the premium

The individual death claims settlement ratio of Tata AIA improved from 98.53% in FY22 to 99.01% in FY23.
Updated : Jun 28, 2023

This insurer allows you to pay premium via WhatsApp and UPI-enabled facility

This is a first in the insurance industry; it has also enhanced its language capability to five languages—English, Hindi, Tamil, Gujarati and Bengali

The research report highlights the efficiency of the claim settlement process, stating that more than 82% of required documents are submitted at the time of claim intimation.
Updated : Jun 28, 2023

Average health insurance claim in India is Rs 42,000, with 15% exceeding Rs 1 lakh: Study

Report from SecureNow says day-care procedures constitute 29% of all claims, highlighting the importance of including coverage for such procedures in health insurance policies

According to the survey, among the various insurance types, motor Insurance was the most common, with ownership of 60 per cent for two-wheeler.
Updated : Jun 28, 2023

30% in Tier 2 & 3 cities have insurance policies, motor cover most common, says survey on Insurance Awareness Day

According to the survey, 40 per cent individuals surveyed had health insurance covers, 50 per cent opted for family floater health insurance, and 10 per cent had critical illness insurance.

Policies with a premium below Rs 5 lakh remain within the exemption bracket
Updated : Jun 28, 2023

When and why you should invest in guaranteed returns insurance plans

These plans are currently offering up to 7.5% returns. Policies with premium below Rs 5 lakh are tax free

ULIPs are good to consider for long-term financial goals, i.e. any goal of 10 or more years into the future.
Updated : Jun 23, 2023

ULIPs: Should I buy a Unit-linked Life Insurance Plan? If yes, then what should the investment horizon be?

In this edition of Ask Money Today, find out the factors you should consider while investing in ULIPs