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. […]
How GST Cuts on Health Insurance Will Transform India Read More »
Imagine walking into a store to buy a raincoat. You ask for something that protects you from the rain. The salesperson hands you a fancy jacket that looks great but barely repels water. It’s expensive, hard to return, and comes with a bunch of hidden charges. You walk out thinking you’ve bought protection—but what you
Insurance policies posing as investment, is it right? Read More »
Introduction For many Indians, insurance plays a pivotal role in safeguarding family finances. A common belief is that a combination of term insurance (pure risk cover) and comprehensive health insurance is sufficient. This premise assumes that once medical expenses and untimely death are covered, there’s no need for traditional life insurance plans with savings components.
Is Term + Health Insurance Enough? A Comparative Analysis with Life Insurance in India Read More »
The Insurance Regulatory and Development Authority of India (IRDAI) is the main body that oversees the insurance sector in India. If you’re searching for “IRDAI full form” or “what is IRDAI,” it stands for Insurance Regulatory and Development Authority of India. Established to protect policyholders and grow the insurance market, IRDAI plays a key role
What is IRDAI? A Complete Guide to India’s Insurance Regulator Read More »
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:
You should know these ratios before buying insurance Read More »
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
How to choose from trending Health Insurance Companies in India Read More »
