The new bancassurance exposure draft released by the IRDA should bring about a positive impact to the three standalone health insurance companies in India – Apollo Munich Health Insurance, Star Health Insurance and Max Bupa Health Insurance.

According to the draft, one bancassurance agent can tie-up with one life insurance, one non-life (general) insurance and one standalone health insurance company in any of the states.

Bancassurance is a term that refers to banks selling insurance...  Read More »

If you look closely at the exclusions listed in any health insurance policy document, you will realize that health insurance policies do not cover dental treatments unless it requires hospitalisation, and there are companies which completely rule out any and all dental or oral treatments.  

Customers in India want a variety of policies that can cater to their specific needs. Star Health Insurance Company has decided to launch yet another unique standalone dental insurance policy in a month....  Read More »

Max Bupa Health Insurance Company has plans to introduce new health insurance plans that will address different insurance needs of customers. The private insurer is working on disease specific insurance products which they would be launching next year.

Dean Pollard, COO of Max Bupa Health Insurance Company said, "The product will cover treatment of specific diseases, mostly linked to lifestyle. However, it's little early to divulge detail about the product," said Dean Pollard, COO, Max Bupa...  Read More »

The premium collections of Star Health & Allied Insurance, for the month of July 2011, have declined by 51% over its collections in July last year. The company managed to collect only Rs 102.20 crore in premiums for the month of July this year, whereas their collections for the month of July last year stood at Rs 208.71 crore. While all other non-life insurance companies have registered a positive growth, Star Health and Universal Sompo are the only two insurers to have registered a negative...  Read More »

Rakhshabandhan is just around the corner and if you are scouting for a gift to present to your sister, a health insurance policy may just be the right option. 

Reasons why you should gift a health insurance policy:

- It will take care of hospitalisation expenses including room in case of a medical emergency
- Hospitalisation expenses include various expenses such as cost of lodging, ICU, operation theatre, anesthesia, blood, oxygen, medicines, drugs & consumables, surgical appliances,...  Read More »

Health insurance policyholders looking to change their existing insurance company will have to wait for a few months as Insurance Regulatory and Development Authority (IRDA) has postponed the effective date.

The portability on health insurance policies which was set to be implemented from July 1, has now been pushed to October 1, 2011. The reasons cited by the regulator is that they are looking to provide a web based facility for all non-life insurance companies including the 3 standalone...  Read More »

Apollo Munich Health Insurance has shown a remarkable growth of 147.21% in its premium collections during the financial year 2010-2011 as compared to last year.

The insurer has pocketed new business premiums of Rs 283.45 crores during April 2010 to March 2011 as compared to Rs 114.66 crores collected during the corresponding period last year.

Apollo Munich Health Insurance, Star Health and Max Bupa are the 3 standalone health insurers in the country. Max Bupa being the latest entrant started...  Read More »

Insurance Regulatory and Development Authority (IRDA), last month, came up with stringent guidelines for all insurance agents according to which agents have to maintain at least 50 per cent persistency rate.

This rule will be effective from 1st of July wherein all agents will need to reduce abandon rates on insurance policies sourced by them. The average persistency rate for each agent for 2011-12, 2012-13 and 2013-14 should be at least 50% in terms of both policies and premium acquired.

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At the International Conference on Mainstreaming HIV and AIDS, the National Aids Control Organisation (NACO) will press insurance companies and Insurance Regulatory and Development Authority (IRDA) to make insurance inclusive and universal for people living with HIV (PLHIV). The meeting is scheduled at New Delhi on 3rd and 4th February, 2011.

At present, HIV / AIDS and related illnesses are excluded by the health insurance companies in India. The only exclusion to this is Star Health and...  Read More »

Star Health insurance has launched a policy, which will now cover your pre-existing diseases just 11 months after buying the policy.

This will come as an exciting news to most insurance buyers. It is a unique cover which is not offered by any other insurance company. Most of the other insurers cover pre-existing diseases only after 4 continuous years of policy renewal.
 

Under the new policy by Star Health, policyholders will get paid 50% towards these pre-existing illnesses. This policy...  Read More »