Insurance Plans Reviews and Articles

ESIC Medicare Facilities for Unorganised Sector Workers

Posted in health insurance by kishosingh on March 24, 2010

With the recent updates in ESIC policy now, millions of workers in the unorganised sector would be able to take advantage of the ESIC medicare facilities. Recently, government announced to amend the Employees’ State Insurance Act 1948 to significantly enhance the social security coverage.

ESI Corporation sources said to ET, “The facilities of ESIC would now be extended to workers in the unorganised sector under Rashtriya Swasthya Bima Yojana by making optimum use of under-utilised hospitals and dispensaries of ESI Corporation.”

Further sources said, “The ESIC would be empowered to enter into an agreement with any local authority, local body or private body for commissioning or running ESI hospitals through third party participation for providing medical treatment and attendance to insured persons.

The state governments, with the prior approval of the Centre, would be able to set up autonomous organisations on the pattern of ESIC.

A Bill to amend the ESI Act 1948 would be brought before Parliament.”

Now, the act will interact with local authority, local body or private body to empower and providing medical treatment.

About this updates, economictimes.indiatimes.com, a business and finance news portal writes, “A decision to amend the existing Act to ensure effective implementation of the Employees’ State Insurance Scheme was taken at a meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh.”

According to the updates, “It would apply to all places where ten or more workers are employed.”

So, it is effective for those workers who work in a team of at least 10 workers. In Delhi, there are many un-organised sectors which have not a team of 10. What about them? Will they still out from the facilities?

Still there is need of lots of improvement in ESI act and policies. It should be easier and more effective from the government sides. It is other good news in insurance field after Wealth Plus Insurance Policy from LIC.

Renew your health insurance policies easily

Posted in health insurance by kishosingh on April 15, 2009

Now, you can renew your health insurance policies very easily and rightfully. From June, 2009 even non-life insurance companies also will renew your health insurance. A new terms & condition announces that such rejection will be rare and exceptional now.

According to the news no insurance companies can reject renewing your health insurance policies now which you have claimed previous years or during premium renewing cover arbitrarily.

IRDA (Insurance Regulatory & Development Authority) announced in news with Hindustan Times, “ordinarily renewable except on grounds such as fraud, moral hazard or misrepresentation of facts. Specifically, renewal shall not be denied on the ground that the insured had made a claim in the previous years.”

If insurer proposed to increase your premium while renewing your insurance policy then they would have to inform you before three months for it. Along with it they would have to explain all the details with reasons.

J Hari Narayan who is the chairman of IRDA told with HT in a press, “There were several complaints from policy-holders who had claimed earlier that their insurers have refused renewing their policies next year without giving reasons for rejection.”

From now the prospects of health insurance will be upfront with all the details including all coverage. Maximum age to renew will be decided. All the details of pre-existing diseases will be in details.

It is the much comfortable news for those who have health insurance policies and those who have to renew this. We can’t say how effective it because health insurance policies are very complicated subject. In spite of the news announce that now health insurance policies will be easy and all the details will be in prospectus.

Still there is no review about the news however; we assume that soon there will be practical aspect of the news. If health insurance policies will be truth like the news then surely everyone will feel comfortable.

My experience with corporate health insurance

Posted in health insurance by kishosingh on January 19, 2009

I will recommend everyone, don’t go with corporate insurance. I had a great experience about corporate health insurance especially. Recently, in my company ICICI came to give us health insurance for all the employees. They had not come; they had been called by our company without our information.

Suddenly a meeting has been called of our team to let us know about that health insurance. We were against that insurance however we had to listen that lecture which was on health insurance by an agent who was from ICICI Lombard.

The lecture was for the corporate health insurance. According to health insurance an employee will get insurance if he get accident or in the condition of bad health. It was only for 1 year it means it was on early basis. For a year we had to pay 1328. It was already deduced by account department from our salaries without any information.

It was very illegal and absurd way of our company towards employees. Most of the employees were against of the insurance however they are not on the front. All were informed by HR that it is the rule for all. The rule was new and by the management.

Calling department did not participate in that lecture of health insurance and told directly that return our money else we will leave our job. We also forced to our manger to return our health insurance money we are not interested but he was very coward. So, we had to fight alone with HR department to get our money.

That was not actually health insurance that was the way to get money by employees for company. They were needed for commission on the basis of our money.

It was my greatest experience about corporate health insurance during the job. By the insurance we were not eligible in condition of leaving the company. We were not able also in the condition of major serious accident.

I saw how a corporate companies with the collaboration of corporate insurance, exploit their employees.

Health insurance is also a demanding insurance product in India

Posted in health insurance by kishosingh on December 24, 2008

There are varied insurance products in India specifically tailored to meet varied needs. One can find insurance plans specially tailored for the security of home, health, vehicle, shop, life etc. All these insurance plans really do matter for a peaceful life.

There are a large number of institutions in India that deal in different kinds of insurance plans in India. In fact, this rising demand for the insurance plans can be attributed to the mounting awareness among the countrymen about the importance of money during emergencies. As such, today, there are a good number of families in the country whose every member does bear insurance products.

Everybody looks for the profit or the benefit while making any investment. And saving in insurance plan is a type of investment which brings about immeasurable benefit. People normally believe that investment made for long term can endure them security and thereby peace of mind. For them the life insurance is a kind of long term investment.

India is a developing country and it has a large population that is not yet covered by insurance policy. As such, institutions dealing in insurance products are on the rise in the country. Definitely, the awareness about the importance of insurance is on the rise, but it is not up to the mark yet. Therefore, measures have got to be initiated to raise the awareness level and popularise the insurance products and their benefits to the target population.

You never know when there will be an accident. The fate discriminates none, so it is always wise to equip oneself to face such situation any time. An insurance policy is a means to counter such fate.

Life insurance takes care of its customers any time, all throughout the life. Any individual, whether he be layman or professional or student or house-wife one can easily register oneself for such a policy. Potential applicants would easily find many insurance agencies that cater to their needs with the insurance products. Prospective customers can also make use of the online facility to assess the life insurance products of various agencies available in India. By means of the Internet facility, the prospective clients can easily compare the features, offers, terms and conditions of all the life insurance policies just sitting at ones home. Clients can look for its products off-line as well, but the advantages associated with the former is that the prospective customer can avert the middlemen who may be a trouble for you.

In India there are a large number of institutions that deliver insurance services. Some of the most popular institutions are LIC, ICICI, Bajaj, Tata Aig etc. Health insurance is also a demanding insurance product in India, as such expenditures are very high in the country for people of the land. If an individual takes a look on the health scenario in India, he shall be able to realise how important the health insurance is in the country. The health related expenditure in the country is inflationary and expenditure pertaining to it is not negotiable at all. So, this kind of insurance can go a long way in helping the victims in meeting health related expenditure.

If you do recognise the existing health scenario in the country, you should bear one such insurance policy to counter any unpredictable health related emergency.