A reader asks, “Dear sir, thank you for the helpful insights on Life Insurance Claim Settlement Ratio for FY 2020-21. Can we get similar data for health insurers?” Life insurance claims are binary. Either insurer pays in full (one) or not (zero). So you can define a claim settlement ratio as the number of claims…

Health insurance is a tricky business. Unlike life insurance, a health insurance policyholder is likely to make multiple claims over a lifetime. This means health insurers have to be careful about who they insure else profits would suffer. However, if they are too strict, then again profits would suffer. The alternative is to share the…

The United India Insurance Family Medicare Policy has undergone a makeover. Here is a list of some new features introduced in the policy. These were intimated by my insurance agent when I applied for renewal. Our policies are close to 15 years old, with four claims paid. We hold both base and super top-up policies…

This article discusses why we purchased a second set of base health insurance and super top-up health insurance. Regular readers may be aware we hold a United India Health Insurance policy from 2006 and have so far made four claims with it. It has so far helped me at the time of need (two cashless…

Many media reports are doing the rounds that IRDAI has issued a new rule in a circular on 11th June 2020 that health insurers cannot question (unless there is fraud) a claim made after holding a policy for eight continuous years. This is not a new development. We also explain what this means.

Covid-19 health insurance claims are rapidly increasing in the country. With no standardised hospital pricing and reports of huge hospital bills, insurers are finding it difficult to pay out claims in full.  This could mean difficulties in claim processing and future increase in the already-high premiums.  What should policyholders do?

Melvin Joseph, one of India first SEBI registered investment advisors has released a free ebook titled Health Insurance Simplified (download link below). It explains all terms and definitions of a health insurance policy in an easy-to-understand manner.

IRDAI has removed a controversial pre-existing disease clause in the standard health insurance guidelines. This will benefit buyers

Ayushman Bharat Yojana is a government health insurance scheme for five lakh. We consider the features of the scheme and who is eligible.

Super top insurance covers are essential to handle large hospital bills. However, they suffer from a restriction that is not so obvious. Here is what you need to know

This is a FAQ and description of details of the newly introduced Arogya Sanjeevani Standard Health Insurance Policy by IRDAI. Will this make a difference?

Here is a free ebook on health insurance prepared by Venkatesh Jayaraman. Use it to understand the features of a health insurance policy and choose one suited to your needs. The ebook was shared a few days ago by the author on Twitter. Mr Jayaraman kindly consented to not only share it with freefincal readers…

Selecting a suitable health insurance policy is one of the most difficult decision in personal finance. Yet it is one of the most important steps that cannot be avoided. It would make a big difference if an experienced expert in the field discussed the basics of health insurance coverage and talked us through how to…

This is a health insurance policy comparison spreadsheet prepared by  K R Lakshminarayanan for his personal use. He has kindly come forward to share it with all of us. Use it as a base for comparing health insurance features and understand aspects of a policy that matter. Health insurance policies currently available can be classified…