Wednesday, February 27, 2008

Tamilnadu to introduce health insurance for below the poverty line people

According to Hindu Business Line,The Tamil Nadu Government has ordered that the National Health Insurance Scheme (Rashtria Swasthya Bima Yojana) for the unorganised sector workers belonging to the below poverty line (BPL) category and their families be taken up in Kancheepuram and Tirunelveli districts on a pilot basis. The Government has constituted a ‘Health Insurance Scheme Support Cell’ with the Commissioner of Labour as the Chairman. In a Government order issued on February 20, Ramesh Kumar Khanna, Secretary, Labour and Employment Department, said that the NHIS provided health insurance cover to the unorganised sector workers belonging to BPL category and their families (unit of five) for a total insured sum of Rs 30,000 per family per year on a family floater basis. All BPL families were to be covered in a phased manner under the scheme in the next five years commencing from 2008-09. While the Union Government would contribute 75 percent of the total premium of Rs 750 per family per year (i.e maximum Rs 565), the State should pay the balance cost of Rs 185.

Fromthis news item it is not claer how much will be the contribution of the person,who is being insured.

Reliance General will not be keen in renewing the health Insurance policy in the event of claim being more than 60% of the sum assured

Reliance General will not be keen in renewing the health Insurance policy in the event of claim amount being more than 60% of the sum assured.

It is suggested to existing policyholders( who have logged in claim of more than 60% of the sum assured during the year) to be ready for changing the policy from Reliance to some other Insurance Co.

Sunday, February 24, 2008

16 million workers under health insurance by Govt. of India

The Secretary ,Dept of Labour ,Government of India has announced that 16 million workers from the unorganized sector will be covered under health insurance during yr starting April1.2008.This figure will increase to 60 million in the coming years.

We should be pleased that health insurance is getting the importance which is needed.The cost is going to be Rs 30 per person.Persons will have the option to get the family members get covered.

In the advertisement of Ministry of Textiles we have come across the details of Rajiv Gandhi Shilpi Swasthya Bima Yojna with following details;

Medical Coverage Rs 15000,which includes OPD of Rs 7500 in a year.
Premium is Rs 800+Service Tax for the whole family.
Contribution by worker will be Rs 150 per year
Contribution by worker from SC/ST/Below the poverty line will be Rs 75 per year
Balance will be paid by The Government .
Policy will be issued by ICICI Lombard
Preexisting diseases are covered.
maternity is covered.
Cash less card will be issued.
Personal accident cover of Rs 1 lakh is part of the same policy.

If you know anyone who has this policy -we will like to know their experience .Do let us know.

Wednesday, February 20, 2008

IHI Denmark starts advertising its Health Policy in India

IHI Denmark has started releasing advertisements for its Health Policy in India.Should we assume that international companies have realized the potential which India offers?

Indian Lock manufacurers did not realize the threat of Chinese locks and lost the market to Chinese imports.

Under Govt of India rules Indians are permitted to spend money in Foreign exchange.While Indian Insurance companies take rigid stand on issuing the policies will we lose the business to International co's like IHI.

Time will tell.

Tuesday, February 19, 2008

IHI Denmark starts advertising in India

IHI Denmark starts advertising in India-does it mean that they have realized the importance and potential of Health Insurance market in India.

All are aware of that under liberal rules with respect to foreign exchange in India any one can send the payment out of India and some people will like to have health insurance policy from a foreign company.

Indian insurance companies should not take it lightly.They will have to face global competititon.

Monday, February 18, 2008


LIC enters Health Insurance with Health Plus

LIC has entered Health Insurance segment with Health Plus policy.
Positive points are;
Long term 20 Years
Benefit of Unit linked growth
Payment of following;
Hospital cash benefit
Major Surgical benefit
Domicillary Treatment benefit
Limits for HCB are;
year 1 -18 days
Yr 2 -60 days
Yr 3 -365 days.

Suppose amount chosen is 1000 Rs /day
child 1
child 2
Total amount paid is Rs 15000 then Rs 9000 will be used for buying of units and balance is towards health part.

DTB starts after 3 yrs .i.e in 4 th Yr.
Amount paid is Rs 2 lakhs and till Yr 20 it can be paid 3 times therfore person gets Rs 6 lakhs and every member gets Rs 6 lkahs.
In total it can be Rs 6 lakhsx4 i.e. Rs 24 lakhs.
After study will come with moredetails.