The online channel has gained popularity among insurance-seekers in the lower income brackets, particularly those earning under Rs 5 lakh, a trend analysis conducted by Bajaj Allianz Life Insurance has revealed. “There is a preference of the online medium amongst those with a income lower than Rs 5 lakh. Read more
The budget laid down new rules for the insurance sector in 2012. The premium will be eligible for tax deduction and the income will be tax-free only if the insurance cover is 10 times the annual premium. The change forced companies to rejig their policies because tax considerations continue to drive insurance sales in India. Read more
Health insurance fraud is described as an intentional act of deceiving, concealing, or misrepresenting information that results in healthcare benefits being paid illegitimately to an individual or group. The main purpose of fraud is financial gain.
One of the largest single sources of fraud is the healthcare providers. They usually have a detailed knowledge of the policy condition and reimbursement process which makes it very difficult to detect such frauds. Read more
There was a time when, for many, going online meant using the internet for only research purposes. Gradually, more people logged on to the Web and soon there was the concept of buying all sorts of products online. However, it did not stop at that. Instead, it progressively evolved into the service industry from various domains like travel and banking offering an online version of their services. Insurance too, quickly caught up to this trend. Read more