Health insurance can help reduce the financial burden of medical treatment. Understanding how it works is extremely important. One term you are likely to come across is network hospital. Knowing the meaning of “network hospital” can help you make informed decisions during medical emergencies and avoid unexpected expenses. A network
Buying insurance is often associated with tricky terminology, which makes understanding the policy document very difficult for first-timers. Among the most commonly misunderstood terms are “sum assured” and “sum insured”. They sound very similar, but they actually serve different purposes and are used for different types of insurance policies. Most
Medical technology has transformed the way many treatments are performed. Earlier, many procedures required patients to remain in the hospital for several days. They can now be completed within just a few hours. This has made healthcare more efficient. At the same time, it has also changed how insurance policies
Not all medical costs involve hospitalisation. A significant portion of your bills may consist of routine doctor visits, tests, medicines and check-ups. If you do not pay close attention to your policy, you may have to pay these expenses out of your pocket. This is where OPD cover in health
If you miss the due date of your premium, your insurance does not end immediately. You receive a grace period in insurance, which gives you additional time to pay an overdue premium. This stops your insurance policy from lapsing, subject to the terms and conditions. The grace period can be
The details of any insurance policy often become clear only after you receive the policy document. You may come across exclusions, waiting periods or other conditions that were not obvious at the time of purchase. To help policyholders review these details, insurers provide a free look period insurance. This allows
As a life insurance policyholder, one of the key decisions you need to make is choosing a nominee. Choosing the right nominee in insurance and keeping the information up to date are just as important as picking the right policy or sum assured. A mismatched or outdated nominee can delay
A no claim bonus (NCB) in car insurance is a discount on the own-damage part of your motor insurance premium. In simple terms, if you don’t make a claim in a policy year, the insurer rewards that claim-free year with a lower renewal premium. Policy wordings tied to IRDAI guidelines
You park your car outside a shopping mall, finish your errands, and return to find a deep dent on the door. There is no note, no witness, and no way to identify who caused it. Moreover, since you opted for third-party car insurance, the consequence is: You end up with
Every bike owner in India must have insurance. The Motor Vehicles Act, 1988, makes this mandatory. Riding without insurance can lead to fines and legal trouble. This bike insurance guide explains the different policy types available. It explains what each policy covers, how premiums are calculated, IDV, No Claim Bonus,
