Itβs a landmark step towards transparent Insurance Regulations and was badly needed to bring agility for insurance companies to operate, expand and getting more lives insured!
#beforeinsure#irdai#insurance
An Win Win Step by IRDAIππ»
The Insurance Regulatory and Development Authority of India (IRDAI) has proposed a framework to put transparency, accountability, and stakeholder participation at the front.
This step will ensure a more collaborative and customer-centric regulatory environment that benefits policyholders, insurers, intermediaries, and the industry as a whole.
Insurance density, or per capita spending on insurance, has improved from $78 in 2020β21 to $97 in 2024β25.
This means households and businesses are spending more on insurance in absolute terms.
Its 1.45 am and i cant sleep bec of severe acidity. I have ulcers. And the last time my ulcers threatened to burst i had to be hospitalized & guess what @icicilombard refused to cover my hospitization cost - bec i hadnt declared my ulcers at the time of taking the policy. But i didnt have ulcers at the time of taking the policy and now they are asking for doctors certificates to confirm i didnt have ulcers at the time of taking the policy. Next they will insist on the car number that kills u in advance so ur family can make a claim. Shame on this @ICICILombard . Am so disgusted. I no longer care abt the refund - i will expose the fraud in their operations
The basic insurance concepts such asππ»
how insurance worksβ
how sum assured is paidβ
etc. should be well explained by insurance advisors while talking to clients or selling them policies.
π3π things every family should know before a medical emergencyπ¨
1. Keep your health insurance card handy.
2. Know the nearest network hospital.
3. Save your advisor's number along with your family members' phones.
The mental peace the 1 crore term cover brings when you have dependents then take our words 7-10k per year is a dismal amount.
The 'Dekha Jaega' mindset is responsible behind pushing many well-to-do-families into struggling ones.
#insurancesahihai#beforeinsure