Today we’ll be discussing how to check if insurance company is legitimate or not? This is something we can’t afford to ignore while entering into insurance contract. If we dare to do so, we’d end up with insurance fraud.
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What is Home Insurance? Benefits of Homeowners Insurance
Do you know what is home insurance? What are the benefits of having a homeowners insurance policy? If not then don’t worry. Today, we’ll be going over what home insurance is, a quick overview of importance of having such a policy and some tips to save real money while buying a policy in colloquial manner.
Continue ReadingList of Registered Life Insurance Companies in India
We have seen a significant growth in the insurance market around the globe and this sector has also progressed significantly in India. Rapidly growing insurance market in India is luring many private and public sector companies. Many renowned companies want to take advantage of this time and that’s why, the list of insurance companies (public and private sector) by IRDA (Insurance Regulatory and Development Authority) is increasing day by day. In India, all insurance companies run under the guidelines and rules of IRDA (Insurance Regulatory and Development Authority). In terms to provide insurance related products in India, a company should have an approval from IRDA (Insurance Regulatory and Development Authority); therefore, it’s mandatory for customers, to see whether their company has approval of IRDA or not? In this article, we are showing you a list of life insurance companies; which are approved by Insurance Regulatory and Development Authority to provide life insurance services in India.
List of Registered General Insurance Companies in India
Generally, Life Insurance covers risk related to insured death like; death cover; and non-life insurance policies cover almost all other types of risk such as; Health Insurance covers risks related to insured person health, Home insurance covers risks related to a home, and business insurance reimburses a businessman; in case he/she faces huge loss in business. The different forms of general insurance are health insurance, auto insurance, business insurance, home or property insurance, travel insurance, fire insurance etc. General or Non-life insurance policies provide payments on the loss of a financial event. Before buying a general insurance policy or life insurance policy (See: Life Insurance Companies Providing Life Insurance Services in India), it is immensely important to see, whether your insurance company has approval of IRDA (Insurance Regulatory and Development Authority) or not? The IRDA (Insurance Regulatory and Development Authority) is a national insurance regulatory body, who works to promote and regulate insurance industry in India. It also works to protect the interests of policy holders. In this post, I’ll be showing you list of registered general insurance companies in India.
Ways to Force Insurance Company to Pay Your Claim
Insurance is clearly a legal contract between insured and insurer and it works on utmost good faith; which means both parties (Insurer and Policyholder) are supposed to disclose all the facts clearly. In insurance contract, insurer has a legal obligation to honor the claim.
Usually, no insurer rejects a claim request unreasonably because of stringent guidelines of IRDAI; however, if you think that your claim deserves to be honor but your insurer is not doing so. Then you can force him to pay your insurance claim by approaching authorities setup by the government. You can also take this matter to civil courts but before that, you should approach the authorities that are especially established to handle insurance related disputes.
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Where (How) to File Complaint against Insurance Company in India
If you have filed an insurance claim and it’s been rejected by your insurance company and you think it’s unfair, then there are many ways to file a complaint against the insurer. Generally, no insurance company rejects a claim request unreasonably; there are many reasons due to which an insurer may refuse to honor a policy claim. However, if you think that it’s unfair and you have supporting documents (like: policy wording, premium receipts etc) to prove that your claim should be honored then don’t embarrass, there are some authorities setup by the government to help you.Continue Reading