It is good to be aware of ‘Deductibles’ in your health insurance claim

As per standard industry practice, there are non-payable items in hospital bills under health insurance claims

Health Insurance does not cover 100% of the treatment cost

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’.

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Almonds are forever – the healthy snack

A handful of almonds per day offers an essential pack of nutrition to your body. They are rich in monounsaturated fats, fiber, proteins, Vitamin E, Manganese, Magnesium and other nutrients.

Being a powerhouse of nutrients and a ‘close to perfect’ food, Almonds offer many health benefits,

  1. Rich in Anti-oxidants: Almonds are high in anti-oxidants that can protect your cells from oxidative damage, a major reason for ageing and disease.
  2. Best source for Vitamin E: Almonds are the best source for Vitamin E, which is linked to numerous health benefits
  3. Assists in controlling blood sugar: Almonds are rich in magnesium that helps control blood sugar. 25% to 38% of people with type-2 diabetes are deficient in magnesium. Intake of almonds may offer major improvements for metabolic syndrome and type-2 diabetes.
  4. Helps in lowering blood pressure: Deficiency in magnesium is strongly associated with high blood pressure levels. Intake of magnesium rich almonds can help control blood pressure
  5. Supports Reduction of LDL cholesterol: Eating a handful of almonds everyday can result in mild reduction of ‘bad’ LDL cholesterol in your blood, potentially reducing the risk of ‘heart diseases’
  6. Prevents oxidation of LDL cholesterol: Almonds do prevent LDL cholesterol from oxidation, which is crucial in preventing the development of heart diseases. Snacking on almonds has been shown to significantly reduce ‘oxidised LDL’.
  7. Effective in ‘weight loss’: Almonds are low in ‘carb’ and high in proteins and fibers. Due to their satiating properties, in general, nuts are a great addition to a ‘weight loss’ diet. Studies have established that almonds can enhance weight loss.

Eating 8-10 almonds a day is a wholesome snack that never makes you feel guilty.

Know what is AYUSH Cover in health insurance

Ayurvedic and other alternative treatments are also covered under health insurance

As per the directions of IRDAI in 2013, health insurance companies started covering Ayurvedic, Yoga and naturopathy, Unani, Siddha and Homeopathy treatments (known as AYUSH) in their health insurance covers.

Health insurance plans in India provide a portion of overall Sum Insured (SI) towards these alternative treatments as they are popular in India. The health insurers usually sub limit the SI for AYUSH as a percentage or an absolute limit of the overall SI.

If you have a health insurance policy with a Sum Insured of Rs.5,00,000/-, the policy will sub-limit the AYUSH cover for eg. to 10% of SI or an absolute value of Rs.50,000/-. So, the insured person can avail a reimbursement of any claims related to the said alternative treatments up to a limit of Rs.50,000/-

It is to be noted that AYUSH cover is applicable only for in-patient treatments taken in Hospitals certified by National Accreditation Board or Quality Council of India.

3 good reasons why you should opt a Hospicash cover

It will be good to have an Insurance which extends daily allowances to cover your extra expenses.

Having a health insurance with appropriate Sum Insured value will help you in getting treatments covered. But, it does not cover your 100% cost of treatment and all related expenses.

Hospital Cash Benefit Cover, either as an additional benefit under a health insurance policy or a separate cover will give you daily cash allowance for a specified period during hospitalisation.

Due to the following reasons, it is best to have an additional hospicash cover:

  1. Certain deductions in health claims are standard.
  2. If you exceed your Room Rent limits, proportionate deductions are applicable in your claims.
  3. You will always have other expenses related to your hospitalisation like costs of travel, food for attenders, etc.

Hospital Cash Benefit cover will extend you daily allowance to cover the expenses as stated above.

What you should know about ‘OD only’ renewal of Car/Bike Insurance

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 TP Covers

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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’.
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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?

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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.

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