Navigating the world of health insurance can be daunting, but understanding key terms can make a world of difference. This article highlights 10 essential health insurance terminologies that every policyholder in India should know. By being familiar with these terms, individuals can make informed decisions when selecting or reviewing a policy, ensuring that they are fully prepared for any medical expenses that may arise.
Health insurance is an essential aspect of financial planning, providing individuals and families with financial protection against unexpected medical expenses. However, navigating the world of health insurance can be overwhelming, especially for first-time policyholders. To empower individuals with the knowledge to make informed decisions, let's delve into 10 essential health insurance terminologies every Indian policyholder should know.
A1: A deductible is a fixed amount that the policyholder must pay before the insurance coverage kicks in. This amount is typically higher for lower premiums and vice versa.
A2: A copayment is a fixed amount that the policyholder must pay for specific covered services, while coinsurance is a percentage of the covered expenses that the policyholder must pay after meeting the deductible.
A3: A pre-authorization is a process where the insurance provider reviews and approves a proposed medical procedure before it is performed. This ensures that the procedure is medically necessary and covered by the policy.
A4: To file a cashless claim, the policyholder must first contact the insurance provider to inform them of the hospitalization. The provider will then issue an authorization letter that can be presented to the network hospital.
A5: If an insurance claim is denied, the policyholder can first try to understand the reason for the denial. If the policyholder believes the denial is incorrect, they can appeal the decision with the insurance provider.
By understanding these essential health insurance terminologies and FAQs, individuals can navigate the world of health insurance with greater confidence. This knowledge empowers policyholders to make informed decisions, ensuring they have adequate coverage to meet their medical expenses and secure their financial well-being. Regular updates on current and past events within the health insurance industry will further enhance this understanding and keep individuals abreast of evolving trends and regulations.
As part of their strategy for the upcoming Great Indian Festival, Amazon has announced a significant increase in commission rates for over 50,000 influencers in their marketing network. The company is also offering performance-based incentives to further support creators in categories such as fashion, beauty, and sports. This move comes as Amazon faces competition from Flipkart and rolls out new initiatives such as AI chatbots and reduced merchant fees.
Indian Railways has recently announced the successful implementation of the Indigenous Automatic Train Protection System - Kavach latest version 3.2, which has been brought into commercial operation after successful trials. This new system aids loco pilots in ensuring the safety of train operations by automatically applying brakes and helping trains run during bad weather. The General Manager has also announced plans to upgrade the system to version 4.0 in the near future, with improved features such as a new anti-virus cleansing system and higher battery backup. Additionally, Indian Railways has also launched six new services, further improving their train system for passengers.
The former Congress chief, Rahul Gandhi, has called out the Securities and Exchange Board of India (SEBI) to reveal the names of the 'big players' who have made a killing in Futures and Option (F&O) trading at the expense of small investors. A study conducted by SEBI has revealed that the average net loss for individual traders in F&O trading in FY24 was Rs 1.2 lakh, resulting in a total loss of Rs 1.8 lakh crore for small investors. It also showed that only 7.2% of individual traders made a profit, while 93% incurred an average loss of Rs 2 lakh per trader. The study has called for stricter regulations and control over F&O trading.
Samsung is offering an unbeatable deal on their latest 5G smartphone, Galaxy A14, during Flipkart's Big Billion Days sale. With an effective price starting at just Rs 9,999, consumers can get their hands on this top-performing phone with a regular discount of Rs 6,500 and an instant discount of Rs 1,000. The phone boasts a powerful Exynos 1330 processor and a 50MP triple rear camera, along with features like 'Voice Focus' and customizable lock screens. Stay up-to-date with the latest business news and stock market updates through Zee Business's social media platforms and YouTube channel.
In a successful nine-day winning streak, shares of Reliance Power have surged 5% after the company announced plans to allot 46.20 crore equity shares worth Rs 1,524.60 crore through a preferential issue to its promoters and other entities. The issue price of Rs 33 is at a 14% discount, making the news even more exciting for investors. The company plans to use a large portion of the proceeds for expanding its renewable energy portfolio and other business opportunities, in addition to reducing their existing debt.
Shares of Info Edge (India) Ltd have closed 0.44% higher today after the firm announced the completion of its stake sale in Wishbook Infoservices Private Limited. The stock has seen a 89.45% increase in the past year and a 58.18% increase since the start of the year. This move is in line with the company's strategy to divest its non-core businesses and focus on its core internet-based services.
Get ready for the ultimate shopping extravaganza as Flipkart's Big Billion Day sale is set to begin on September 27th, 2024. Exclusive deals and discounts on popular smartphones, including the highly coveted iPhone 15 and Samsung Galaxy S23 5G, are expected to be the highlight of the sale. With early access for Flipkart Plus members starting on September 26th, mark your calendars for the best deals on the latest tech gadgets.
Japanese fashion retail brand, Uniqlo, has expanded its UTme! service to India by collaborating with talented Indian artists to design exclusive T-shirts and tote bags. The collection will be available at the Uniqlo Ambience Mall Vasant Kunj store in New Delhi. This launch marks the brand's commitment to the Indian community and their celebration of diversity. With plans to open more stores in the country, Uniqlo is targeting the growing demand for organized apparel and personalized fashion experiences in India.
The Indian Energy Exchange (IEX) saw a sharp decline in its stock price today after a media report revealed that market coupling will be implemented by the end of the current fiscal or the beginning of the next fiscal. With the Power Ministry pushing for timely completion of the pilot study on market coupling, IEX stocks fell to an intraday low of Rs 209.40, marking a 12.47% decrease. This could have a significant impact on IEX's trading volumes and may potentially dry up its market share, causing concern among analysts.