Families across India are experiencing financial risks without even knowing it. These families are not missing out on life insurance; they just do not feel as though they have enough time to get it. In India, life Insurance penetration has declined to 2.7% of GDP (gross domestic product) for FYs (fiscal years) 2024-25 for three consecutive years, but total life insurance premiums have been more than Rs.8.86 trillion. The country with the lowest average rate…
A single medical emergency can destroy years of savings and a cyberattack can shut your business down overnight. In present-day evolving India, where healthcare costs are rising, climate hazards are increasing, and digital businesses are booming: Insurance is no longer an option, it is a crucial safety net for people and businesses alike. However, millions of citizens do not have any type of insurance. According to NITI Aayog’s “Health Insurance for the Missing Middle” report,…
Term insurance is viewed by many as ‘essential,’ but what defines an attractive plan by year-end 2026? Most people don’t consider this subject daily; however, once you start considering how to secure your family’s future financially for many years to come, this is one of the most important financial decisions you will ever make. The real challenge isn’t necessarily acquiring a policy, it is the determination of how much coverage you will require, the features…
Medical costs in India have been skyrocketing over the past few years. They’re rising by around 14% every year (the fastest rate in Asia). The majority of healthcare is paid for out of pocket, and lending to pay off your medical bills makes up roughly 23% of your total hospital bill, which puts an enormous amount of financial strain on families. This growing trend indicates that having the proper health coverage is no longer about…
Understanding the Basics Q1: What is the difference between mediclaim and health insurance?Medical cover provide hospital care, whereas Health care policy provides additional options such as maternity coverage, outpatient services, etc. Therefore, mediclaim plans fall within the scope of health insurance while also being separate from them. Q2: Is mediclaim the same as health insurance?No. Cashless hospitalisation covers only the hospital stay/surgical procedures while Health coverage has additional coverage for outpatient visits/day care hospitalization cover/maternity…
Recently a colleague disclosed she had maxed out her entire health insurance policy in one hospital visit and was left with nothing else to use on her other medical needs for the rest of the year. She thought she was covered adequately until she discovered she had many misconceptions about her policy (like so many others). A study showed over 75% of policyholders are not fully aware about the limits on room rent, whether there are…
