Posted: June 3, 2020
If your new vehicle is bought after 1st September 2018, you will require ‘OD only’ renewal..
All new cars and bikes that are sold by dealers from 1st September 2018 will have 3 years and 5 years third party insurance as per the Order of the Honourable Supreme Court of India.
That is, a new car sold on 1st September 2018
will have third party (TP) insurance coverage up to 31st August 2021
and a new bike up to 31st August 2023.
Car/Bike Insurance Policies with 1 year OD and 3/5 Years
Continue reading “What you should know about ‘OD only’ renewal of Car/Bike Insurance”
Posted: July 3, 2020
When you buy insurance for your car or bike, it is very
essential that you choose the right IDV.
Value (IDV) is the value that you insure your vehicle for. In case of an
adverse total loss due to an accident or theft of your vehicle, this is the
total loss value you will receive. Obviously, it will benefit you in such
circumstances to support buying another vehicle.
Insurers do not accept whatever IDV you choose
Continue reading “Be aware of the importance of IDV in your vehicle insurance”
Posted: July 3, 2020
When you buy or renew you car/bike insurance, you are most
likely to get the value for money if you follow 5 simple essential steps.
Continue reading “5 Simple and Essential Steps while you buy or renew your car or bike insurance”
Posted: July 4, 2020
Who is a POSP?
POSP is a Point of Sales Person, who is trained
and authorized by us as per the guidelines of IRDAI to market, sell or solicit
Insurance policies through our online insurance portal www.monkeycap.com
How do you earn as a POSP?
Continue reading “Create your own business at absolute convenience of your home”
Posted: July 4, 2020
As a POSP of Monkeycap, you have distinct
advantages against any agent of an insurance company. The four major advantages
Continue reading “Advantages of a PoSP of Monkeycap.com”
Posted: June 5, 2020
As per standard industry practice, there are non-payable items in hospital bills under health insurance claims
You should be aware of what is payable and not payable on your hospitalisation claim by your health insurer. All insurers will require an itemised bill for the purpose of processing the claims, whether it is a cashless or a reimbursement claim.
Certain of the items in the bill, charged by the hospital, are not payable by the Insurance Company, as an Industry standard. These non-payable charges in the hospital bill are called ‘Deductibles’.
Continue reading “It is good to be aware of ‘Deductibles’ in your health insurance claim”
Posted: May 14, 2020
It is important for you to get a fundamental understanding of how to approach claims process in order that you don’t get stuck during claims process
Most probably, you can get stuck in health insurance claims process when you or your loved ones are hospitalised due to illnesses.
Our intent here is to give an account of high-level
requirements during the process of health insurance claims for your benefit, in
order that you get the fundamental understanding of how to approach the claims
There are three major follow ups in cashless claims,
- Choose a Network Hospital – Cashless claims are possible only in hospitals that are in the Network list of your health Insurer
- Approach the hospital’s Insurance Desk – All hospitals have an Insurance Processing Desk
- Discharge Procedure at the Hospital – Coordinate for early completion of discharge formalities.
Choose a Network Hospital
Find out your best choice of hospital, which falls in the
network list of your health insurance company. Normally, people seek the
recommendation of the physician who diagnosed them of the ailment and referred
to a hospital where the physician may know the specialist.
Continue reading “Be Aware of how to approach your health insurance claims”
Posted: May 7, 2020
..a fair comparison of premium vs coverage/benefits is important before you decide to buy.
You have to understand how insurance is fundamentally designed to serve you before you buy. You will also know why and how a fair comparison of premium vs coverage/benefits is important before you decide to buy.
The structure of insurance as a contract lies on three
Continue reading “Why you should take the time while buying insurance..”
- A Promise – The Insurer promises to cover your losses due to unforeseen events as specified in the Insurance policy. For example, covering cost of hospitalisation due to specified illnesses in a health insurance policy or covering the cost of accidental repair in your car insurance policy.
- Unforeseen Events – The promise holds good only for those events or group of events, which are specified/named in the insurance policy. It is normally called as a set of benefits or coverage clearly spelt out in the insurance policy.
- Terms and Conditions – And the Promise will be honored subject to a list of terms and conditions mentioned in the insurance policy. The standard terms, conditions and exclusions (those which are not covered) will be detailed in the ‘Policy Wording’.
Posted: April 22, 2020
The insurance broker plays the expert coordinator to resolve it.
There are many instances hospitals will deny ‘cashless facility’ even though the insurance company has a tie-up with them. While there can be various reasons behind the denial of cashless facility, a customer who is at the door step of healthcare and insurance service providers should not be put to difficulty.
In such a situation, what is the best choice for the customer?
Continue reading “What if a network hospital denies ‘cashless’ treatment facility..”
Posted: April 20, 2020
If the room rent limit is not sufficient in your health insurance policy, it will cost you more on claims in the form of proportionate deduction..
Room rent limit is a very important factor while choosing your health insurance policy. A lot about this factor has been written widely by a lot of people. So, we are writing down the gist of important things a customer should consider about room rent limit while purchasing a health insurance policy.
Room Rent usually includes the rent, nursing charges and the fees related to the Resident Medical Officer (RMO).
Room Rent limits are imposed in three different ways,
Continue reading “What happens when you exceed the room rent limit of your health insurance?”