Insurance policy Holders have to keep these 7 things in mind in 2019, to avoid cheating

Insurance policy Holders have to keep these 8 things in mind in 2019, to avoid cheating

 Insurance policy Holders have to keep these 8 things in mind in 2019

LIC policyholders are required to have these small precautions to avoid cheating

We all know that All the insurance Companies are regulated by IRDA. lakhs of people in the country are LIC policyholders. Life Insurance Corporation of India has issued a special advisory to protect the fraud or mischief of any kind in the name of the policy. This advisory is for all those who have any LIC policy from any Company may be Government or Private insurance company. Apart from this, there are also people who can join the LIC in the future. According to the corporation, if you are a policyholder, always keep these 8 things in mind.

The cheques to be paid for paying policy premium should only be in the favour of Life Insurance Corporation of India or on the name of the Company which have issued the Insurance Policy documents.

1. If someone asks you to issue a check with any other name, then clearly ask him no and give it to the LIC or Insurance company.
2. Keep checking your policy status in between on  - www.licindia.in and related websites of other insurance company.
3. The Insurance agents who are having insurance company id number can tell you anything but only sign any document when you have read it carefully. Insurance agents can raise you for the policy during which they'll have abundant profit. Keep a vigil eye on Insurance Premium payment so you'd not get exhausted over the years to pay the insurance Premium payment. Do not be hasty in any kind. If you need time to read the document, do not hesitate to say so. This will keep you safe from future problems.

   

   Insurance Agent with insurance ID number

4. Do not give the Original Paper of the Insurance policy to any person, not even Insurance agents who do not show you insurance company id number. LIC does not give any authority to any person that he collects the original paper of the Insurance policy from any Insurance policy holder.
5. Always have insurance company phone number and be aware of incoming offers on the phone. It is not necessary that if a person is saying that he is speaking to LIC, then this means he is speaking with LIC. Be cautious before making any kind of payment, know that you are really dealing with LIC.
6. Stay alert when calls come. LIC does not contact the policy holder on the phone for a bonus or outstanding installment. If you get any such calls, then be cautious.
7. What to do When you want to claim money or deposit money to your insurance account. LICs pay through NEFT, this is a safe way to pay and there is no scope for any kind of fraud.
8. Nowadays Insurance company hiring has increased as insurance company are getting high competition as Mutual Fund has attracted their investment. Remember to take insurance Company just for Insurance, not an investment purpose.

Health Insurance:IRDAI issued standard guidelines for the health product's guidelines,Good news for those buying health insurance

Health Insurance: IRDAI issued standard guidelines for the health product's guidelines, Good news for those buying health insurance 

Health Insurance: IRDAI issued standard guidelines for the health product's

Health Insurance Regulatory body IRDAI has issued draft guidelines for a standard health product. It is mandatory for all health insurance companies to offer standard/Original health products. 

Health insurance is an important part of a person's financial planning. If Any One wants to buy a health insurance policy, it is natural to get confused Some time. Actually, there are so many types of products available in the market that it is difficult to understand which policy to buy. 

Secondly, the premiums and benefits of each policy are also different. Indian Insurance Regulatory and Development Authority (IRDA) has taken steps to solve this problem. IRDAI has issued draft guidelines for a standard health insurance product. It is mandatory for all ordinary and health insurance companies to offer standard health products. 

What will be the standard health Insurance product 

Health Insurance  and IRDA Guidelines for the health product

No additional add-ons or optional cover will be provided under Standard Health Products. The proposed Standard Health product will be given on the basis of indemnity. Meaning, the expenditure on treatment to the policyholder will be reimbursed to the extent of Sum Insured (the cover of which is covered). 

Any kind of deductible feature will not be allowed with the base cover, although the co-payment system will be allowed. The up to 5 percent co-payment can be part of the product feature. There will be no variant of this plan. At present, there are various types of products and their variants available to all insurance companies in the market which are confused. 

For detailed information, you can click on this link- https://www.irdai.gov.in/ADMINCMS/cms/frmGeneral_Layout.aspx?page=PageNo3739

Health insurance is an important part of a person's financial planning. 

Health Insurance: Minimum Sum Insured of Standard insurance product

Minimum sum insured will be 50 thousand rupees Minimum Sum Assured of Standard Health Insurance Product, which means the insurance cover will be Rs. 50,000 and the maximum limit will be Rs. 10 lakhs. This product will also be available as a family floater product, in which the dependent children from zero to 25 years can be included. 

There will not be a mixture of Critical Illness cover or any other cover. People from 18 to 65 years will be able to take the standard health product These mandatory expenses will be covered Under the standard health insurance product, the cost of hospitalization, the cost of treatment done under health insurance AYUSH, pre and post-hospitalization expenses, health checkups, OPDs, and cumulative bonuses will be essentially included. 

Health Insurance Products and companies allow premium payment annually, halfyearly, quarterly or Monthly

The minimum age for taking a standard health insurance product is 18 years and a maximum of 65 years. It will be renewed for a lifetime. Premium payments will be made annually, half-yearly, quarterly or monthly.