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Health insurance: Bringing mental illness under health insurance cover will help customers

Health Insurance Companies in India - The Mental Healthcare Bill 2017 was a progressive reform in the midst of growing awareness. The Insurance Regulatory and Development Authority of India’s (Irdai) directive that followed, now includes mental illnesses in the ambit of health insurance coverage for customers. Viewed against the evolving narrative on mental health, this has the potential to significantly expand access to treatment —a critical need given India’s worsening mental health crisis. The National Mental Health Survey 2016 estimates that about 150 million adult Indians, or 15% of India’s population suffer from mental health problems. Those between 30-49—a productive age group in the workforce—are among the most affected. Without the availability of insurance, patients have had to cover the entire cost of treatment out of pocket. This has proved a major deterrent, due to which an estimated 80% of patients do not seek or receive any treatment. Health Insurance Companies i
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IRDAI proposes new guidelines for life insurance policies; Here’s how they will benefit buyers

The Insurance Regulatory and Development Authority of India (IRDAI) has recently released new draft product guidelines for linked and non-linked life insurance policies, which are set to benefit insurance buyers substantially. In a notification, the regulator said that since 2013 there have been significant changes in the trends in product structures, driven by the customers’ needs, wants and preferences. Besides, the industry was also representing to review the various provisions of the current product regulations so that insurance products could cope with the dynamism of the market. All such things forced IRDAI to review the existing product regulations. Check out LIC Premium and Maturity Calculator   Check out LIC Endowment Plan Premium Maturity Calculator   Check out LIC Money Back Plan Premium Maturity Calculator   Check out LIC Term Insurance Plans Premium Calculator   Check out LIC Pension Plans Premium/Maturity Calculator Whatever be the case, it is also in the inte
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What are Pension Plans? The specialized insurance plans which provide a steady flow of income in your golden years post retirement are called pension plans. These plans are so designed that instead of providing a lump sum amount on maturity, as most insurance plans do, this plan provides a stream of payments post maturity up until the policyholder is alive. Perhaps this is why these plans are called a reverse of life insurance plans where a lump sum amount is provided on maturity. These plans come is two separate versions. One version is called an Immediate Annuity plan. This is suitable for older people who have a lump sum amount. They can pay the lump sum amount in a single pay option and purchase these plans. The annuity rate will be fixed or increasing, as the case may be and known to the annuitant. The company will start making annuity payouts from the single premium up until the policyholder who has made the payment is alive. On his death, the annuity payments will stop. The po
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