The Indian government’s proposal to slash GST on health insurance premiums from 18% to 5% (or zero) isn’t just a tax tweak—it’s a lifeline for millions. With medical inflation soaring at 14% annually (IRDAI 2024) and only 35% of Indians covered by health policies, this reform could redefine financial security for families. Here’s how: 1. […]
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1. Claim Settlement Ratio (CSR) Definition: CSR is the percentage of insurance claims settled by an insurer compared to the total claims received during a financial year. Impact: A higher ratio (above 95% is preferred by IRDAI) indicates reliability in claim payouts, boosting customer trust and improving market reputation. 2. Incurred Claims Ratio (ICR) Definition:
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In this article, we cover the top 5 trending insurance companies, their websites, customer-centric highlights, and crucial ratios to help you make an informed decision. Health insurance in India is witnessing rapid growth, driven by increasing awareness about medical expenses. 1. Star Health and Allied Insurance Company Website: www.starhealth.in Summary:Star Health is India’s first standalone
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