The FinTech Hub
Source: Live Mint In a recent Ombudsman ruling concerning litigation with an insurer, my claim was limited to 25% based on the policy’s terms and conditions for Bevacizumab used in my cancer treatment under ‘coverage for modern treatment or procedures.’ I am seeking clarification on how the term ‘modern’ is defined in this context? Is…
Source: Live Mint Health insurance is essential for financial security in times of medical emergencies. However, rising premium costs can be a burden. Fortunately, there are smart ways to lower your health insurance premium without compromising on coverage. By making informed choices, you can ensure affordability while still getting the protection you need. Here are…
Source: Live Mint Life Insurance Corporation has rolled out LIC New Smart Pension Plan. It is a non-participating, non-linked, individual, savings, immediate annuity plan. This is a single premium immediate annuity plan. The official website of the state insurer – last updated on Feb 18 – specifies that the plan offer a wide range of…
Source: Live Mint Insurance regulator IRDAI has allowed one time mandate for blocking the amount towards premium through unified payments interface (UPI mandate) for issuance of life and health insurance policies. This facility — known as Bima-ASBA (applications supported by blocked amount) — transfer of money from a prospective policyholder to the insurer will take…
Source: Live Mint Union Finance Minister Nirmala Sitharaman has asked the insurance companies to increase the free look period to one year, compared to its current level of one month, according to a CNBC-TV18 report on Monday, February 17. According to the report, Nirmala Sitharaman also said that the committee has finished the internal consultation…
Source: Live Mint I am 65 years old. I retired from a private job and live with my wife in Delhi. My primary source of income is earnings from the stock market and fixed deposits. Can a pension plan help me optimize my tax-adjusted returns compared to a mutual fund or fixed deposit? -Name withheld…
Source: Live Mint After a backlash on social media over HDFC Ergo walking back on its promise to return cash to customers who bought Apple Watches under its India Gets Moving initiative, the company has started making payments based on their step-counts. The insurer said it had rejected claims of only those who allegedly manipulated…
Source: Live Mint A health insurance premium is the amount of money a person pays to a health insurance company for health care coverage. Premiums can be paid monthly or annually. This depends on the kind and duration of health insurance opted by the consumer. Some of the leading health insurance companies in India are:…
Source: Live Mint Union Budget 2025: The budget has introduced immense clarity on the tax treatment of the Unit Linked Insurance Policies. Specifically those ULIP’s that don’t fall or qualify for the exemptions provided under Section Section 10(10D) of the Income Tax Act. What are ULIPs? A Unit Linked Insurance Plan (ULIP) joins investment and…
Source: Live Mint Insurance grievances can be frustrating, especially when your claim is rejected, delayed, or unresolved. To help individual policyholders resolve such issues efficiently and cost-effectively, the Government of India introduced the insurance Ombudsman scheme. This impartial mechanism addresses complaints without the need to go to court. Currently, there are 17 insurance Ombudsman offices…
