Like Life Insurance policy, a health insurance policy is a legal contract between insurer and insured; in which insured pays premiums and in returns, insurer agrees to pay for medical expenses for a specified limit or sum insured. Health insurance is a best option for those who are unable to bear the unexpected or unforeseen medical expenses. Most of insurance policies provide cover between Rs. 1 lakh to Rs. 5 lakh; however, you can buy medical insurance cover between Rs. 5000 to Rs. 50 lakhs or more. Nowadays, you can find a variety of health insurance products to insure your different types of health related issues like; hospitalization expenses, critical illness, cancer insurance etc. Presently in India, there are various types of health insurance plans exist and we’ll discuss about them in this post.Continue Reading
Punjab National Bank is one of the renowned multinational banks of India. It provides a large range of banking services to achieve high level of customer satisfaction. PNB has provided quickest and easiest ways to block an ATM-cum-debit card to its customers. Customers can block their ATM cards (if they lost them) to avoid any misuse. You can block your PNB ATM card by following any method described in this post.Continue Reading
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.
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.
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.
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