What is mediclaim insurance?
Mediclaim Insurance is a hospitalisation benefit policy offered by public and private sector general insurance companies. The policy provides for reimbursement of Hospitalisation / Domiciliary hospitalisation expenses for illness/ disease suffered or accidental injury sustained during the policy period. The policy pays for expenses incurred under the following heads : A) Room, Boarding Expenses in the Hospital/ Nursing home. B) Nursing expenses. C) Surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialist fees. D) Anaesthesia, Blood, Oxygen, Operation theatre Charges, Surgical Appliances, Medicines and Drugs, Diagnostic Materials, and X-Ray, Dialysis, Chemotherapy, Radiotherapy, Cost of Pacemaker, Artificial Limbs and Cost of organs and similar expenses.
[Note: The liability in respect of all claims admitted during the period of insurance shall not exceed the sum insured for the person as mentioned in the schedule.]
[Note: The liability in respect of all claims admitted during the period of insurance shall not exceed the sum insured for the person as mentioned in the schedule.]
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Insuring someone Basically you can insure anyone with whom you havean insurable interest. meaning those on whom you have a financialor physical dependency a legal symbioses or interest in and withtheir permission and knowledge. If the loss of the individual wouldcause financial or certain other form…s of physical or emotionaldistress then then you could probably inure them One can insure a key employee, a provider, a Spouse, child, parentor whole family. The future financial impact resulting from the loss of a familymember will differ with surviving children from those of asurviving parent. So one should shop for insurance accordingly. Ageing parents may need to have monthly income to bear day to dayexpenses and a child's needs may span the cost of child care orrearing and future education. There are two ways you can get insured Either you have to be a driver or that insurance plan shouldinclude passenger cover. car owner can insure passenger withmaximum of 2,00,000 INR. Compare and Buying travel insurance online can make your trips morememorable and secure, now you can enjoy your trip with the greatpeace of mind.So just do it by doing travel insurance comparisononline.Compare and select the best travel policy for you and yourfamily at a cheapest price in your Language. For Quotes: ( Full Answer )
To apply for insurance, you must contact an insurance company, usually by visiting an office, making a phone call, or visiting their website. To find out more about specific insurance companies, their policies and the prices they charge, you can visit their respective websites, where this informat…ion should be provided in detail. Answer: You can consult an insurance agent or look for insurance policies online. Once you have identified the policy you want to purchase, you'll need to complete some formalities before it can be issued to you. Alternatively, you can make use of the insurance advisory service provided by GEPL. The experts at GEPL will help you assess your insurance needs and identity competitively priced policies that suit your needs. ( Full Answer )
a practice or arrangement by which a company or government agencyprovides a guarantee of compensation for specified loss, damage,illness, or death in return for payment of a premium
In regards to Homeowners insurance: most homeowners have amortgage...therefore your home technically belongs to thebank/lender and they need to protect their 'investment' sobanks/lenders require that you carry adequate insurance to pay forthe damages that may occur to your home or even to pay the de…bt, infull, should you suffer a major catastrophe & your house istotally destroyed. Remember, the lender has a financial interest inyour home. Likewise, most Homeowners Insurance Policies offerPremises and/or Personal Liability coverage One of the most common claims that this type of coverage helps toprotect you, is in the case of liability from dog bites. If yourdog bites a neighbor either while off-leash or on-leash, thiscoverage can offer some financial protection. Certain breeds ofdogs are automatically EXCLUDED from coverage, so be sure tocontact your agent/insurance company for more information. Don'twait until after you buy that 'guard-dog' and it bites somebody!Likewise, Homeowners Insurance offers coverage for your much-valuedcontents...ie., furniture, clothing. Also there is usually coveragefor other structures such as outbuildings. In the event that yourhome is uninhabitable due to a covered claim, your homeownerspolicy usually offers coverage for having to rent anotherapartment/home, etc. while your home is being repaired or rebuilt. Always be sure to review your Homeowners Policy EVERY year, withyour agent/insurance company! ( Full Answer )
Sort of like a bet. For example: life insurance, the company bets that you will live to the normal life expectancy, you bet that you wont. If you die young, you (your inheritors) collect a large amount while having paid little, therefore "you" win. On the other hand if you live a very long time, you… will have paid a lot, and the amount collected will be worth less than it did when you first took the policy, therefore "they" win. Answer For other kinds of insurance, like home, auto, renter's insurance, you are paying for protection against risk. You pay the insurance company to protect you against the risk of loss due to damage to your car, for example. You continue to pay even though you aren't experiencing any accidents, because you are still subject to the 'risk' of accidents. Actuarial experts help insurance companies figure out how to balance protection against risk with held reserves to make large pay-outs, and with the need, of course, to make a profit. With this kind of insurance, a risk must exist in order for the company to legitimately charge a premium. If there is no risk, or if the risk ends, there is no contract and therefore no insurance in force. Answer Life insurance is exactly what is says. If you a loved one whom is the primary wage provider or a key business partner? The lose of this income or business contribution could mean a great loss financially. To protect your assets, business and or most importantly, your family? One gets "insurance" against the possibility of the risk. As respects one personal belongings, our home, cars and etc.? "Insurance" provides protection against the risk of loosing these belongings due to unforeseen circumstances. Finally, insurance can be selected for terms or periods. In the case of life, one can choose life long or "whole life" or temporary or "term" 10,15,20,or 30 years. As respects personal property? Policies to cover our autos can be 6 to 12 months. Our homes can be covered for the term of our mortgage if desired? A good insurance consultant can assist you in all your needs? To find our more, please visit www.personalsolutionsinsuranceagency.com or call (916) 538-6082 ( Full Answer )
Occasionally people have car wrecks or sudden hospitalizations. Most of them do not have the ability to get the money needed to pay to get the car fixed or to replace the car. Most do not have the money to pay the hospital charges. If enough people put enough money into insurance, then when one wrec…ks a car or one gets sick, there will be money to pay the bills. ( Full Answer )
Yes, our patients treated at Sibia Medical Centre, Ludhiana have been paid by the Mediclaim companies. Even the Insurance Ombudsman and the Permanent Lok Adalat have ruled in favor of the coverage by mediclaim. More details can be had from the website www.sssibia.com or anyone can email at info@sssi…bia.com for the detailed judgment. - Dr.Sibia ( Full Answer )
Mediclaim is a reimbursement policy where the amount of expenses incurred during your hospitalization or pre & post hospitalization according to your policy will be given back to you. This might be cashless i.e. you will not have to pay from your pocket or reimbursed after you submit all the dischar…ge reports etc. If there is no claim during the term as defined in the policy you will not get anything. Health Insurance policy is generally initiated by Life Insurance Corporations where a particular sum is given to you as per your policy. In this case even if your expenses are lower than the sum insured, it will be profit for you. If no such need arises they will pay back the whole with profits if any at the end of the term. They will be taking a part of your investment as their service charges. ( Full Answer )
An insurer (also known as an insurance company) offers, for a price, to take on some or all of a specified risk, and to pay an agreed-upon amount in the event of a loss.Generally, risks will fall into two broad categories: property and casualty, and life and health. Property insurers agree to pay a …specific sum to repair or replace an item that has been lost, stolen or damaged. For example, home insurance covers the threat of a total loss (the house burns down), a partial loss (the roof is damaged by hail), or even theft (the house is burglarized). Auto insurance works the same way.Casualty (or liability) coverage protects one from the threat or results of a lawsuit. For example, if you caused an accident resulting in injuries, your auto insurer would pay for medical care under the liability portion of your policy.Life insurers, as the name implies, pay a specified, pre-agreed upon amount (called the death benefit or face amount) if you die while the policy is in force. Life insurers may also cover losses resulting from injury or even the need for long term care, depending on the kinds of policies issued.Health insurers pay for medical-related expenses, such as hospital stays, doctor visits and prescriptions. Regardless of the kind of policy issued, insurers must first assess the risk (how much is the house worth, is it in good condition). This is called underwriting. Once the risk has been determined, the insurer must decide whether or not to offer coverage and, if so, at what price. At that point, an offer is made and the prospective client must decide whether or not to accept it. ( Full Answer )
Perhaps surprisingly, the answer is "yes." Most insurance companies choose to buy "re-insurance," and this is a very interesting - and different - type of insurance than what you or I generally see. While there are thousands of different insurance companies, there are only a handful of re-insurers.R…e-insurance companies contract with "regular" carriers to cover unexpected catastrophic losses. For example, the companies that insured businesses in the World Trade Center may have expected a few minor claims over the years (a broken window, a stolen laptop, a twisted ankle), they likely never counted on the kind of total losses generated on 9/11. It's a safe bet that they had agreements (called "treaties") in place with at least one re-insurer to help cover the tremendous number of dollars associated with that tragic event.Reinsurance companies work by agreeing to "buy" (take on) a set amount of losses which an insurance carrier feels is beyond its comfort level. The insurance company agrees to pay a premium (just like you or I) to the reinsurance company, which then agrees to pay for excess loses incurred by the original carrier. Call it "Insurance insurance," it's a vital part of how insurance companies can take on additional risk and still remain in business in the face of large, unexpected losses. ( Full Answer )
Under insurance is not carrying enough insurance to cover your assets in the even of a liability claim or not carrying enough insurance to satisfy your bank / lienholder. Over insurance is carrying more insurance than you need. This is more common with home insurance. For example, insuring a 1000 sq…uare foot house for 1,000,000, would be considered more insurance than you'd ever need. ( Full Answer )
I need answer why human body inssurance does not exist, like car insurance/liability insurance or full coverage.
Hard to insure homeowners insurance could mean that you have poor credit or represent high risk to a homeowners insurance company.
Insurance is a payment plan for when things go wrong. If you don't have insurance you are going to have to come up with all the money at once. With insurance, you are making payments over a period of time to cover you in the event something happens. Insurance is necessary because whether you are a …renter or a homeowner, you will most likely keep all of your most cherished belongings in your home with you. Insurance could never replace the sentimental value of those belongings if lost, but it would at least provide financial indemnity to reduce the financial burden of losing those belongings. ( Full Answer )
A better question you be what do they not insured. You can find insurance for anything you can think of. Some famous people even insure their teeth or face because of their good looks. Lloyd's of London will underwrite custom insurance policies for anything you want. Most companies insure Autos and …Homes. ( Full Answer )
This word is not spelled correctly and I can think of at least 3 words that are close in spelling.
You must have auto insurance in all states. If you don't, you are irresponsible and probably shouldn't be driving in the first place. Some states allow you to not carry insurance if you can prove you have a certain amount of money in the bank, i.e. Iowa will give you financial responsibility with a …locked bank account containing $100,000. ( Full Answer )
Insurable interest refers to when someone (called Person A) wants to buy life insurance on another person (Person B). In order for Person A to buy life insurance on Person B, there must be an emotional and financial loss to Person A if Person B dies. You can't buy life insurance on some random perso…n. Insurable interest does not apply to beneficiaries. You can name anyone as beneficiaries, whether they are related to you or not. If you are planning to get an affordable life insurance, i recommend you visit the site below and get insurance quotes. The site will pull up comparable premiums between different insurance companies and show you the best quote. http://www.goodinsurancepolicy.com ( Full Answer )
Not sure if you meant over insured and under insured. Basically there is a provision in homeowners and condo owner policies called a Co-Insurance penatly if you are not insured to 80% of replacement cost (not market value) of the home. If you are insured less than the 80% (under insured), you will n…ot get you complete coverage limit but a reduced amount. Over insured is a little different. Lets say you insure your home at $100,000 and it would only cost $80,000 to replace. The insurance company would only pay the $80,000 but your premium paid was based on the $100,000 amount. If you are over insured, you will over pay for coverage. **Some states are "Valued Policy" states and you would get the full $100,000. Just a quick answer, but I hoped it helped. ( Full Answer )
The insured is the person or entity who is covered by the insurance policy. The insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a covered loss. That which is covered by the policy is set forth in the insurance policy.
So called gap insurance covers only the difference between thevalue of your vehicle and what you owe to the bank. It offers noother protections such as personal injury & liability, orcollision.
It is a system of risk management. You pay a small amount of money every month for a large amount of coverage so you would not have to pay for large losses by yourself. Lets say you pay $400 a month for home insurance coverage on your home worth $150,000. You are only paying $400 a month for coverag…e if something happens to your home that is covered by the policy. If your home burns down, you wouldn't have to pay $150,000 to rebuild it. You would only need to pay your deductible, which is usually 1% of what the home is insured for. ( Full Answer )
It depends on your state and company. Some can non-renew you for filing too many claims some can do that if you live in a territory where they no longer want to have a certain exposure, like living on the coast and not wanting to have the same exposure to wind or hurricane damage. In some states it …is very hard to non-renew an insured and the insured has to have a certain number of state "points" before you can non-renew. ( Full Answer )
The precise answer depends upon the kind of insurance that you seek and where you are located. Assuming that you are in the USA, understand that insurance is regulated by the individual states. Therefore, it is vital to deal only with a company that is licensed to transact insurance in the state in… which you reside and/or where the life or the thing to be insured is located. That licensure can be determined by contacting the insurance regulatory authority of that state. Licensure assures you that the insurer is regulated from a solvency standpoint and in other important respects. Some insurers are "direct writers", meaning that they issue policies directly to applicants and do not use agents or brokers as intermediaries; they advertise themselves as such. Others sell their products through agents or brokers. The use of an agent or broker by a consumer can be advantageous because the consumer can take advantage of the individual's knowledge and experience to get the most suitable product. These persons must be licensed to transact the business of insurance, and "appointed" by the insurer to write its business; therefore, be sure to check with the state insurance regulator to ensure proper licensure. Although the terms are sometimes used interchangeably, there is a technical difference between an agent and a broker. An agent generally sells the insurance products of only one or a few insurers, whereas a broker generally is authorized to market a wider variety from a greater universe of insurers. ( Full Answer )
Life insurance, as the name suggests, is insurance on human lives. Life insurance policies are considered to be "valued policies" because they are purchased in finite amounts, rather than designed to pay damages or the then-current value such as property insurance does. Life insurance comes in se…veral varieties, the main categories being term life and whole life. Term life insurance remains in force as long as premiums are paid, but has a definite termination date (such as 20-years). If the insured does not die during that period, the insurance expires and there is no remaining value. Stated otherwise, it may be said to represent "pure protection". In contrast, there is "whole life". A part of the periodic premium is applied to pay for the death benefit, and another part of it is applied to a savings element. The savings element accumulates slowly at first, and depending upon the nature of the policy, may be used to invest in an array of income-earning assets, such as mutual funds, that the insurer offers as "investment" options. The earnings of the policy is referred to as "cash value", and depending upon the terms of the policy, may be used by the insured or the owner of the policy for a variety of purposes, including borrowing it. If left untouched, the cash value may reach a point where it fully supports ongoing premiums such that the insured has to pay nothing more. "General insurance" is the term often used to refer to non-life policies, such as homeowners, auto, and other forms of property and casualty coverage ( Full Answer )
In most states you have to have car insurance to drive on the road. Most mortgage companies require homeowner's insurance. Health insurance is not currently required, but you may face a fine if you refuse to buy it beginning in 2014 under the health care reform bill. Life insurance, disability insur…ance, etc may sometimes be required for different things, but in general, most people don't have to have them. ( Full Answer )
Are you seeking insurance for the latest requirements you got inlife? Perhaps, it is necessary to get insured multiple things inlife with some becoming mandatory as well. Choosing the best sourcein this context is very much important so that you becomesuccessful in life without going through any com…plex situations forsure. for more: ( Full Answer )
Look on the declarations page (aka dec page). It will list all of the policy information including limits, deductible, and named insureds.
You can go without insurance, but are liable for any damages you cause. If you have no car insurance and are pulled over or are involved in an accident, you may well get a ticket. That would depend on type of insurance we are discussing. If you do not have a auto, you do not need auto insurance i…n the United States. If you chose to drive and do not wish to have insurance, you must be able to provide proof you can cover a certain dollar amount in damages (this varies by state). If you are asking about life insurance, you do not need that either. Now health insurance is about to become much different if the current Administration gets their way and it does not get blocked in the legal system. Once health care for all becomes law, you will be required to buy health insurance, unless you are considered by our Government to be too poor to pay for it. If you fail to purchase this health insurance they will be able to fine you for not buying a private helath care package. Yes, shortly you will be required to carry health care. ( Full Answer )
A life insurance policy can go a long way toward helping dependentswho have experienced the death of a loved one. If the breadwinnerof the family dies, his dependents can be left with nowhere toturn. If he has a life insurance policy, however, then hisdependents will have a safety net until they can… fend forthemselves. ( Full Answer )
If "it" is not your fault then you do not have to pay regardless of insurance. However, you may have to prove in court that "it" is not your fault and although you can counter sue to recover your court costs if you win the case, your lawyer will probably want some money up front, and you might lose …even if you are not at fault. As for whether insurance will pay- they only pay for the people they insure subject to the conditions of the policy. If you caused the damage you are likely legally liable even if you did not intend to cause it. ( Full Answer )
Insurance is the concept that it is better to pool together uncertain risk and spread risk among many in order to better protect against uncertainty. It is vastly easier to budget for limited loss by mathematical probability that an event will occur to a limited number of people and spreading tha…t risk than it is to prepare for unlimited risk to occur to one person. There are seven basic principles of insurance, which include subrogation, insurable interest, contribution and utmost good faith; in addition to indemnity, nearest cause, and minimization of loss. These principles are meant to safeguard insurance contracts. ( Full Answer )
The agent's commission depends upon the age of members in the policy. For the persons upto 35 years of age it is 15% ; 36 to 55 10% ; 56 onwards only5%. The commission will be calculated only for the base premium , not for service tax and higher education cess etc... A . Pugazhendhi
Third party car insurance or third party liability is also referredto as the 'act only' cover. It is a mandatory cover under the MotorVehicles Act to ensure that the driver has adequate insurancecoverage to pay for the damages resulting from an accident. Thefirst party over here is the driver of the… car, the second party isthe insurance company and the third party is any person (injured orwho claims damage) involved in the accident. For More ( Full Answer )
Zurich insurance is a commercial insurance company that provides 24hour service, however, you did not state what sort of emergency youare asking about.Well i like this post i want some good Insurancecompany like Reliance Car Insurance.Please suggest me.Well Being anIndian girl i prefer Reliance Car …Insurance, Reliance HealthInsurance and Reliance travel Insurance . ( Full Answer )
I would like to vote for Maxima. It offers widest cover-right from inpatient coverage to pre- and post-hospitalization, pharmacy costs, diagnostic tests etc.
The Hanover Insurance Group, which is based in Massachusetts, offers insurance that can cover automobiles, your home, or your business. They were established in 1852 and are known for providing world class insurance to their customers.
A common question that concerns a lot of people is whether theyshould go for individual health insurance plans for each of thefamily members or go for a single family floater plan for theentire family. Under a family floater plan, the entire familyshares a common pool. A family floater plan provides… cover to theentire family to the extent of Sum Insured. For Compare : goo.gl/qyE1Dl ( Full Answer )
"After doing some online reading of reviews and ratings for the Lincoln Insurance Company, I have determined that people do consider them to be a reliable company."
"Yes, the south Texas division of Alliance insurance offers recreation vehicle and boat insurance. You can contact an Agent for more information. The phone number is: Alliance Insurance Inc. Call an Agent 1-866-364-1461."
In most cases, clients are handed over with the processes and legal documentation of getting an insurance from a company - providing the necessary information ,limits and scope of the client's insurance - which then includes liability insurance.
Insurance is a primary need because it protects you againstunplanned events. It can be used as an investment tool, tool forplanning your children's future and retirement planner tool. Mostimportantly insurance provides you peace of mind, as you know thefact that your loved ones are not dependent on …anyone else in caseof any unfortunate eventuality. For Insurance: ( Full Answer )
The answer will vary depending on your local regulations. In the United States , Anyone who operates a motorvehicle on public roads must carry proof of financialresponsibility. Private roads on private property excluded. This isgenerally accomplished through the purchase of an auto insurancepolicy…, but in some jurisdictions can also be met with a bond orcash deposit with the regulating state. ( Full Answer )
Yes you can and should purchase uninsured motorists coverage on your liability policy. We always quote this coverage on every policy we write and rarely have anyone say they don't want the coverage, especially when you explain what it does and how little it costs.
Allstate, farmers and Amica Mutual along with GMAC and Mercury make up the cheapest insurance companies.
21st Century Insurance insure a wide variety of different cars. These include new cars, cars that have been used, as well as classic or vintage cars. They can also provide fully comprehensive cover.
The Insurer is the Insurance Company which provdes insurancecoverage to the insured providing for payment of a sum of money tothe person assured or, failing him, to the person entitled toreceive the same on the happening of certain event. It isuncertainty that is risk which gives rise to the necessi…ty for someform of proetection against the financial losse arising from death.Insurance substitutes this uncertainty by certainty. ( Full Answer )
Cover Your Family All Hospital Expenses in One Health Policy Health insurance covers you and your family against expenses thatyou may incur on hospitalization as an in-patient in a hospital ornursing home in India for treatment. With the rising incidence ofdiseases including lifestyle related ailm…ents and cost oftreatment, any incident of hospitalization can mean substantialfinancial outgo for you and your family. for more ( Full Answer )
Sorry, the driver with no insurance can claim of your insurance.He/she has no legal right to lodge such unauthorised claim.
An insurable interest is required in order for any insurance to bevalid. In general, an insurable interest exists when an individualor entity has a financial stake in the continued existence of theproperty.