Why you should take the time while buying insurance..

..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 strong pillars,

  1. 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.
  2. 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.
  3. 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’.
Continue reading “Why you should take the time while buying insurance..”

What if a network hospital denies ‘cashless’ treatment facility..

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?

In these distress situations, the best choice for him/her is to depend on an expert coordinator who will support them from their side, ie., their insurance broker. The customer should, at this stage and always during claims, should rely on the claim support services of a responsible and committed insurance broker.

Whatever may be the reason for the hospital to deny ‘cashless’, even with tie-up in place, the insurance broker coordinates as the customers’ representative between the TPA/Insurer and the hospital for the resolution specific to the customer’s request of ‘cashless’ treatment.

10 reasons why you will need an expert on your side for Insurance

Insurance Brokers are experts on the side of the customer, advising while buying insurance and assisting for faster settlement of claims.

Insurance Brokers across the globe are called Independent Intermediaries, meaning, they do not represent any specific Insurance company like Insurance Agents, but they represent the policyholder or the customer.

In other words, Insurance Brokers are experts on the side of the customer, advising the customer while buying insurance and assisting for faster settlement of claims.

Continue reading “10 reasons why you will need an expert on your side for Insurance”

Why you need an Insurance Broker..

Insurance Broking Companies represent the customers, understands their requirements and offer them choices..they also provide effective claim support.

Insurance Broking Companies play an important role in helping the customer to understand and identify actual needs to make an informed choice. Insurance Agents or Agencies including banks usually represent one or two Insurance companies in selling Insurance Policies, where the choices available to the customer are limited.

Continue reading “Why you need an Insurance Broker..”

Compare and Save

It is always important to compare the premiums of various insurance companies against benefits offered before buying an insurance policy

Why should you compare insurance policies before buying…

The Premium rates of different insurance companies will vary for the same vehicle and such premiums offered by companies could vary with time.

Continue reading “Compare and Save”