India’s health insurers paid out in claims more than 80,000 crores in 2023-24; however, claims that insurance companies paid were far less than the number of claims they received. Therefore the claim settlement ratio is a very important statistic for anyone considering an insurance company. The settlement ratio tells you how likely it is that the company will pay its claim, and it is calculated by dividing the amount of claims paid out by the…
Living longer doesn’t always mean living stress-free, especially when financial responsibilities like dependent spouses, unpaid loans, or medical needs continue after retirement. India’s life insurance penetration has declined to 2.7% in 2024-25 per IRDAI’s latest report, leaving many seniors exposed. For many Indians in their 60s, the question is, can I still get term insurance, and is it worth it now? In this blog, we simplify everything you need to know about term insurance for…
Critical illness and terminal illness benefits are often confused, but knowing the difference could be the key to protecting your family’s future. In India, non-communicable diseases such as heart disease, cancer, and diabetes now account for about 62% of all deaths, up from around 38% in 1990, underlining how common serious health events have become. With rising health uncertainties and complex policy terms, it’s easy to assume that either coverage is enough. The reality? Each…
Life happens, and sometimes, it happens unexpectedly. Choosing the right life insurance can be critical in securing your family’s financial future. Among the various types of life insurance, term life and whole life insurance are the most prominent, each catering to different needs and financial situations. When it comes to safeguarding your family’s financial future, term life insurance stands out as a popular and practical choice. Offering temporary coverage for a set period, such as…
Life can be unpredictable. From unexpected medical bills to car accidents, there’s always a chance of facing situations that could cause significant financial strain. That’s where insurance comes in – a financial safety net that helps you manage risk and protect yourself from unforeseen events. But with so many different types of insurance available, it can be overwhelming to know where to start. This blog post will serve as your guide, exploring the most common…
Life is full of uncertainties, from minor inconveniences to major life-altering events. We can’t predict the future, but we can take steps to prepare for the unexpected. This is where insurance comes in. It’s a financial tool that acts as a safety net, protecting you from the financial impact of unforeseen circumstances. Demystifying the Basics: Pooling of risk- Imagine a community where everyone contributes a small amount of money to a central pot. If someone…
