Category Archives: insurance advice

Purchasing a health insurance plan is a vital and good plan of the existence. It allows you to tackle the increasing healthcare cost by covering medical and surgical expenses suffered by an insured person. By visiting the policy’s network of hospital, you will get cashless treatment or else you can compensate your medical cost later. With covering your hospital cost, medical health insurance policies offer benefits towards the policyholder. But selecting a great health insurance plan can also be necessary as you have several options to select from.

To create your existence simple and easy , choice effective, we’ve listed out the top five medical health insurance policies to purchase 2016.

1.Bharti Axa Existence Triple Medical Health Insurance Plan

It’s a medical health insurance plan which supplies you triple benefit. This insurance policy provides you with the initial advantage of three claims for critical illness underneath the policy term, however the three critical illnesses should fit in with the insurance policy pointed out groups of illness (Category A, B and C)

Key Features -one hundred percent sum assured if found having a critical illness during fifteen years from the policy term -Allowance of three claims for critical illness throughout the policy term -Accessibility to waiver of premium

Policy Benefits -No alternation in premium for several years -Cover 13 critical illnesses -Tax benefit under section 80D for that premiums compensated -Option to select from return of premium (maturity and dying benefit offered) and without return of premium -Maximum sum assured of Rs.30 lakh

2. Bajaj Allianz Individual Health Guard

This medical health insurance plan offers cover individual and family people also. It provides pre and publish hospitalization cost for 60 and 3 months. It covers ambulance charge and 130 daycare treatment in an affordable cost.

Key Features -Offers family discount of 10% -Renewability chronilogical age of eighty years -Cumulative bonus for each claim free year -After 4 claim free years, free medical check-up -Enhancement of sum assured during the time of policy renewal

Policy Benefits -Room rent and hospitalization expense have the freedom of sub limtis -Cover personal accident -Cover 130 daycare procedures -Ambulance replenish to Rs.1000 -Tax benefit under section 80D for that premiums compensated. -Accessibility to internally claim administration -Pre and publish hospitalization cover 60 and 3 months correspondingly

3.Religare Care Freedom Plan

It’s a health insurance plan which supplies cover people of every age group. It provides the chance to obtain cover without dealing with any medical check-up.

Key Features -No maximum on age -No pre-policy medical check-up for everyone -Lifetime renewability -Waiting duration of only two years for pre-existing disease -Automatic recharge of sum assured in situation you exhaust your cover limit

Policy Benefits -Cover domiciliary treatment -Conusmable allowance which provides coverage for transportation cost, attendant’s fee etc. -Recharge of sum assured upon exhaustion of canopy amount -Annual health check-up if covered being an adult -Discount on 2 and three year policy term -Tax Benefit under section 80D of Earnings Tac Act 1961

4.Star Medi Classical Insurance plan

The medi classical insurance policy provided by star health provides you with cover illness and accidents both. The sum assured offered under this insurance policy varies based on your geographic region.

Key Features -Cover non-allopathic treatment -101 kinds of daycare treatment are covered -Cover in-patient hospitalization for at least 24 hrs -Cover emergency ambulance up to and including specific limit

Plan Benefits -Automatic restoration of sum insured by 200% for those who have exhausted your policy term -Bonus of 5% of sum insured for each claim free year -Cover pre and publish hospitalization cost for 30 and two months correspondingly -Tax benefit under section 80D of Tax act 1961 for that premiums compensated. -Lifetime renewability option

5. Health Suraksha Plan

This health insurance plan provided by Future General covers surgical and medical cost of an covered person. It provides quick settlement of claims with a choice of portability.

Key Features -Cover 130 daycare procedure -Discount offered on renewal of policy -Free medical check-up after 4 continuous renewal years -Option to select from Gold, Silver and Fundamental Plan

Plan Benefits -Cumulative bonus by means of rise in sum insured with no rise in premium -Co-payment facility available -No medical test needed till age 45 years -Pre and Publish hospitalization cover 60 and 3 months -Ambulance replenish to Rs.1500 -Rs.500 each day allowance for associated person

Never purchase a health insurance plan just since it is advantageous for somebody. As you can tell that every health insurance plan has different benefits and features, it might be necessary to be aware what you’ll need. According to your wellbeing condition and requirement select the right health insurance plan that will take proper care of healthcare expense in the majority of the cases.

Compare Best Health Insurance plan from top medical health insurance companies in India. Buy or renew health insurance plan online around.

Critical illness insurance was firstly originated in South Africa. The idea of having a critical illness insurance in South Africa appeared from a discussion between a cardio-thoracic surgeon, Mr. Barnard and the chief executive of a life office. Critical illness insurance was forced to be brought forward as the state health system lacked measures to cover the cost of a range of serious illnesses. Let?s have a look at how critical illness insurance evolved down the years in South Africa.

According to Munich Re, 2000, when in 1983 critical illness insurance first appeared, nearly all covers could have been riders to life insurance. The highest benefit paid could have been less than R 25,000 (USD 4,000) and 25 percent of life cover. This amount was chosen because it could have been the cost for the treatment of coronary artery bypass graft. Nowadays, most of the critical illness policies in South Africa could be prepayment, that is acceleration. The maximum individual cover provided could be R 550,000 (nearly USD 80,000) while bigger companies could offer up to R 800,000 (approximately USD 120,000). In the year 1990, critical illness sales may have been higher than any other policies as it can be estimated that around 60 percent could have been combined to new policies. Also, recent sales could be estimated to be around 50 percent less than in 1990.

Moreover, at first, critical illness policy covered 4 main critical illness conditions. These could be classified as follows: heart attack, stroke, cancer and coronary artery bypass surgery. But as evolution and competition in the insurance market increased, the critical illness conditions covered gradually became five. Similar to other countries, the trend could almost be considered the same. As time passed by, the number of cases covered then became more than twenty. As per O?Mahony S, 2001, ?South African dread disease report?, most companies may cover up to 8 core critical illness conditions and 21 extended conditions. Extended cases may be surgeries like balloon angioplasty or states of health such as total and permanent disability.

Furthermore, critical illness cover can be quite expensive in South Africa. There may be thus two sales channels that perform the critical illness sales tasks. The life office agents sell critical illness plans to those who earn less. On the other hand, the brokers sell to those who earn a high income. As a matter of fact, most critical illness sales have been reported to come from the broker market due to its expensive price. According to Munich Re, 2000, there may be around 14 life insurance companies that offer critical illness cover. This may account for around 70 percent of all life insurance companies in South Africa. It can be interesting to note that nearly all the life insurance companies do not offer standalone critical illness covers. They may be most of the time sold as riders.

Critical illness insurance market in South Africa had become mature quickly. The market in USA or Canada may still be in process to reach a real peak in contrast with South Africa or even the UK.

People and companies who are selling leads on Internet often are professionals in something called SEO (Search Engine Optimization). Using the most simple explanation, it means tuning your website as to fit the demands that search engines. The reason for doing all this is because when people use keywords which resemble those that are on your website, the website now will be placed on the top of the searches. There is no explanation that would be much simpler in my opinion. It is all that’s required to pull the traffic from search engines towards the website. This way of providing insurance leads is your highway to success.

When the companies deal with online insurance leads, they have websites that are optimized so they attract the web surfers looking for insurance. The way they do it is as follows: they make content that is about to get published online as well as create a system that acts like a network for the visitors where they can go to the sites they own as they look for online insurance.

At the moment Internet is becoming almost the strongest force when it comes to insurance leads. People go look for life insurance quotes and then enter their data in order to see if they can purchase the insurance. Whether they are entitled to the insurance. When they have completed this step usually the data are saved in the system – as an actual insurance lead. The agent who has access to that insurance lead, at some point contacts the person and offers to give him/her more information about the policy for the specific type of insurance as well as other policies that s/he might be interested in.

Usually the people that go online and try to find insurance go about and enter their details on different sites.Meaning that several agents have the same details from the same person. Now the potential client has to choose among the different insurance policies. Then this potential customer gets rates that are competitive and makes a decision which will be based on different rates from different insurance companies. It is common also for the potential customers to talk to and inform different agents and tell them they have a better offer elsewhere. Many a time it means that the several agents will revise their rates to provide a more competitive one.

Online insurance leads are of different types. These are: life insurance leads, Mortgage insurance leads. (it’s now a little different from a previous situation when life insurance is needed while purchasing a mortgage). There are also health insurance leads, automobile insurance leads. The list ends with property insurance leads. As you may see now, online insurance leads are one of the best possible ways for getting a competitive rate when you look for something that goes under category “insurance”. Submitting personal information to different websites of insurance companies will provide you with a sure way to gain access to the most competive rates for those now-demystified insurance leads.

Homeowners looking for affordable house insurance for an old house will have to look a little harder than homeowners purchasing new homes. However, low cost quotes are out there!

To find them, you need to go online to an insurance comparison website.

Benefits of Going Online

Yes, you can ask your friends and neighbors with older homes who their insurance is with. You can ask your mortgage company for recommendations. You can call around to every insurance agent in town and try to convince them to cover your home.

In short, you can spend a lot of time looking for house insurance for an old house. But if your home was built before the 1950s, you already know ? or you will soon learn ? that some insurance companies just won?t offer you coverage.

Want to save all that time and effort? An insurance comparison website can automatically weed out the companies that won?t insure you, giving you quick quotes from viable companies.

In addition, since you will get several quotes, you’ll be able to compare them and choose the policy that’s best for you.

Choosing a Policy

Some special considerations you need to consider when purchasing a homeowners policy for an older home include:
* Whether the policy will replace your home with new construction or with historically accurate materials and designs. If your home is merely old, new construction may be fine with you.

But if your home is of historic value, you may have to pay extra for a ?replacement in kind? policy. Such a policy ensures that the workmanship and materials used to rebuild your home will restore it’s historic nature.
* Whether the policy requires you update your renovate the wiring, plumbing, heating, and other systems within a certain time period or the insurance policy will be cancelled

To help keep your premium as low as possible, consider setting a high deductible. Also find out if there are any discounts you qualify for, such as an auto-home discount or a discount for installing fire extinguishers and other safety systems.

Where to Get Inexpensive Rates

I worked in the insurance industry for 16 years and saw first hand how profitable an insurance company can be. I will not attempt to go into the nitty gritty details but I will give you a pretty good idea in the form of an overview, how profitable a venture an insurance company can be.

Insurance is a form of risk management. It is purchased to avoid the possibility of a large , potential future loss. To compensate the insurance company for taking on this potential future payout, the insured pays the insurance company a certain sum of money known as the premium. In return for the payment of the premium the insured receives a written document, known as the insurance policy, that lays out what events are being insured and what the payment to the policyholder would be if that event actually occurred.

The insurance company collects the premiums of a large group of insureds to cover the few losses they would have to pay out use historical data to figure the probability of losses and then charge premiums to cover them while building in a profit for themselves.

For example,let’s say there were 100 houses each worth $100,000 in a particular area. They would have a total value of $10,000,000. According to the history of that neighborhood, two houses are expected to burn down during any one year. Without insurance all 100 homeowners would have to keep $100,000 in the bank to cover the possibility of the house burning and needing to rebuild it. With insurance, each homeowner would only need to pay $2,000 into an insurance pool to pay for rebuilding the two houses that are expected to burn down.

2 houses burn x $100,000 = $200,000 for rebuilding the houses $200,000 divided by the 100 homeowners = $2,000 premium

That $2,000 premium will then have to be increased somewhat to add a profit margin for the insurance company.

In addition to the built in profit that the insurance company adds in to each premium it takes in, the company would also be subject to the actual experience of the insured group. If it takes in more money in premiums than it paid out in claims then it receives what is known as an underwriting profit. And, on the other hand if it pays out more than it has taken in then it has an underwriting loss.

One way of looking at how well an insurance company is doing is to look at their loss ratio. The loss ratio is calculated by taking the losses they had to pay out and add to that the expenses they incurred to actual pay out the
claims and divide that sum by the premiums taken in. A ratio of less than 100% shows a profit and a ratio greater than 100% indicates a loss.

In many cases if an insurance company’s ratio is greater than 100% they can still be profitable. That is because there is usually a period of time between taking in premiums and paying out claims. During that period of time the company can invest the money taken in and they can earn a profit from that investment to offset any underwriting loss and could actually end up with a net profit. For example, if the insurance company pays out 15% more in claims and expenses than premiums it took in, but made a 25% profit from its investments, then it would have received a 10% profit.

So, as can be seen there is more than one way to skin the profitability cat for an insurance company to make money. Two key factors in that regard are how well they can predict their payouts and how well they can invest the money they take in.