Moreover, an insurance firm can reject the claims of relatives of policy holders who are deceased, on grounds of misrepresentation such as age suppression or suppression…

Against backdrop of rising life expectancy and high out-of-pocket expenses, it is clear that the potential for growth in health insurance is immense.

SBI General’s Long Term Home Insurance policy is designed for covering loss or damage caused to the building used as residential homes due to fire and special perils.

In a recent judgment, the Supreme Court said that failure on the part of a person to reveal his past history of disease is valid ground for repudiation of his insurance policy benefits, it further…

The insurance company denied the claim saying that its investigation revealed that Gaekwad had died much before the policy was issued. He had died on April 14, 2011, at a private hospital and the policy was issued in September 2011.

A single judge bench comprising Justice Suresh Kumar Kait direct Air Chartered Services Pvt Ltd and United India Insurance Company to pay a compensation amounting Rs. 50 lakhs in a common judgement for three write petitions.

The four diseases are cardiac and cerebral vessel-related diseases, cancers, chronic respiratory disease and diabetes, said Zhang Yuhui of the NHC, according to a report by the Xinhua News Agency.

With a group program, the policies are usually for five-year renewable terms. The benefits are usually tied to one year’s salary for an employee. However, employees can contribute on their own to a policy in order to increase death benefits.

The government funded national health insurance scheme for the poor, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PMJAY), is expected to see a payout of INR23bn ($323m) this year for high value claims of over INR30,000 each.

LIC had recorded a 6.08% growth in its total premium income at Rs. 3,37,185.40 crore in 2018-19 against Rs. 3,17,850.99 crore in 2017-18. The financial result for 2018-19 if the company’s suggests that its first year premium increased by 5.68% to Rs. 14,21,91.69 crore.