Three changes in health insurance from Oct 1 that will help policy holders
The provisions of these guidelines shall apply to new health insurance products filed on or after October 1, 2020, while for existing health insurance products the modifications can be made with their renewal from April 1, 2021.
Insurers can offer Arogya Sanjeevani Policy for sum insured above Rs 5 lakh: IRDAI
You can pay the policy premium either annually, half-yearly, quarterly or in monthly mode. There will be uniformity in premium pricing. No geographic location/ zone-based pricing is allowed.
Should you buy term life insurance with staggered payout option in case of death?
Term insurance plans offer the staggered payout option instead of lump-sum payout in the event of the death of the insured person. However, such payout options offer low returns. When should you opt for such an option?
IRDAI allows insurers to offer short-term health policies for coronavirus treatment
Short term health policy means any health insurance policy contract which has been issued for a policy term of less than 12 months. However, a policy term less than three months is not permitted by the regulator.
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