‘Insurance

Update 15th November -

No Cover For The Aged
Avalamma is 58 years old; she lives alone on the outskirts of Bangalore with her 62-year-old husband. Their only source of income is a two-acre rice farm and a traditional LIC (Life Insurance Corporation) policy, which matured last year.But this money is not enough at a time when food and medical expenses are going up.”Read here

Update 1st October -

HEALTH INSURANCE OF SENIOR CITIZENS
A delegation of the FORUM for Health Insurance of Senior Citizens met the Chairman Insurance Regulatory & Development Authority (IRDA) Shri J. Hari Narayan today in MUMBAI and urged upon him for early implementation of K. S. Sastry committee’s recommendations for health insurance of Sr Citizens.Read More

 

Update 1st June -

Health Insurance Not Forthcoming for Senior Citizens
The Committee appointed by the IRDA on health insurance for senior citizens submitted its report nearly six months ago. IRDA owes it to the senior citizens to inform them of the outcome of its deliberations on the Report. Senior citizens are quite exercised about it. The long delay in taking the follow up action is all the more surprising since the Report of the Committee, in which representatives of the insurance industry were adequately represented, was unanimous.Read this Article by K S Sastry

Indian Insurance
The details regarding types of Insurance and companies offering it, Read more

Long Term Care Insurance for the Elderly
Long-term-care insurance can pay for long-term care, either in an institution (such as a nursing home) or in a residence (such as an assisted living facility) or in one's own home. Read More

HEALTH OF THE ELDERLY IN INDIA
Broadly speaking, the ageing of a population has been defined as an increase in the proportion of the aged vis-à-vis a decrease in the proportion of the young. There have been major occurrences in Asia that have impacted on the situation of the elderly: the decline in fertility that will gather further momentum in the twenty first century coupled with the continuing and steady decline in mortality which has resulted in significant changes in the size and structure of Asian populations. In India, the population of the elderly is growing rapidly and is emerging as a serious area of concern for the government and the policy planners. Read More

Health insurance for senior citizens
The Committee on Health Insurance for Senior citizens has asked the IRDA (Insurance Regulatory and Development Authority) to promote standalone health insurance companies as subsidiaries of insurance companies (life and non-life) and give them separate treatment to ensure their viability. Read more

Indian Insurance Glossary
Accident and Health Insurance - Coverage for accidental injury, accidental death, and related health expenses. Benefits will pay for preventative services, medical expenses and catastrophic care, with limits. Read in detail

Elder policy in UK : Read in Detail

Community-based health insurance schemes in India: A review:
There is an increasing inclination among multinational agencies—including the World Bank, World Health Organization and International Labour Organization—to advocate community-based health insurance (CBHI) schemes as part of a comprehensive solution to improving access for healthcare services in India. This paper reviews the experience of Indian CBHI schemes, their impact on health system goals, such as access to hospitalization and protection from indebtedness, and the factors—particularly scheme design and management—that may contribute to success. Read More

Insurance in India and important Links

Till 1999, there were not any private insurance companies in Indian insurance sector. The Govt. of India, then introduced the Insurance Regulatory and Development Authority Act (IRDA) in 1999, thereby de-regulating the insurance sector and allowing private companies into the insurance. Further, foreign investment was also allowed and capped at 26% holding in the Indian insurance companies. Since then, the Indian insurance sector is considered as a booming market and almost all major global insurance companies are entering or trying to enter the market.
Currently, the largest life insurance company, and several other General Insurance companies  in India are still owned by the government, Though a number of Private players are entering the fray.  Read in detail

Senior citizens demand implementation of Insurance recommendations
The Forum for Health Insurance of Senior Citizens on Jan 29 2008 demanded immediate implementation of recommendations made by the Health Insurance Committee.Read More

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