Brother Took a health insurance policy 4 years back from ICICI lombard. And this year's renewal amount (with zero claims so far) is 79% yes 79% higher than the original premium paid in 2018. You can take the 7% headline inflation and throw it in the dustbin where it belongs. These guys are bloody looters. Most insurance companies are like this. Please escalate this to CCI IRDA and all other regulators LC manager. more
i took policy from Bajaj health insurance initially i was paying around 30000 rs gradually they increased premium to 48 thousand , they did not reimburse claim cost of cataract surgery , last year suddenly increase premium to rs 98 thousand . Bajaj inc even did not reply to mail complaining the doubling the premium. i did not pay the premium discontinued with bajaj , they know as senior citizen i can not get a health insurance so they black mailed now i have taken policy from star health inc, i found it is cheaper and better , .they paid the hepatisation cost of my wife directly to hospital , two moths back more
Is it really a new practice? Perhaps no. Earlier Govt. had a control on it through IRDA and now it's a free market. Govt. has opened the flood gate so one can wish whatever the way like loot common man. Visible impact of throwing to private entity. People should now realise it well. more
Insurance is all Humbuck. They mainly loot the Public. All Insurance Business must be closed. Another lure for this is tax rebate for the Premium. This should be given without any Insurance. more
Insurance companies are run in a corrupt and inefficient manner. First of all, they pay huge commissions on your premium. So at least 15-20% out of the window. They have unscrupulous surveyors and claim scrutineers who find ways to reduce claims unless their pockets are privately lined with incentives. Next, the insurance companies are not expanding their reach which makes them inefficient as the premium to claim ratio is divided amongst a limited set of people. Then, we have IRDA which is one single big reason why premiums have become less competitive and increased by the year. Insurance premiums are based on charts which needs upgradation. Premiums rise as you cross 50, 55 or 60. However, these days people live long years. &0 or 80 or even higher with relatively fewer health issues have become common. However, premium tables follow a three decade old demeographics. At teh same time there is a big difference in group and floater insurance policy premiums as compared to individual policies. Insurance companies should work towards a more informed system than just milking a few. It is not difficult but it will need good minds at work. more
Most important is indexation on real estate/property is gone with this budget. Now if you bought a property in 2004 for 25 lacs and plan to sell the same now. earlier you would have got benefit of ...
1)India's inflation continues to be stable and moving towards 4 pc target; core inflation stands at 3.1 pc. 2)India's economic growth continues to shine. Global economy is still in the grip of...
Today's Economic Survey has spoken some very harsh truths. I'm not only talking about stock market speculation. It says 50% of Indian graduates are not employable 65% of peopl...
Yesterday a friend’s relative in Auranagabad died in the gym while exercising. Sudden death due to heart attack. (Attached video) LocalCircles i remember had raised this issue in D...
Indian banking system is a loot and print media is hand in gloves. They dont write about issues people face. Here is a first hand experience: Wanted my SBI savings acc statem...
Earlier pre Covid I remember LC Manager used to do budget surveys which would then be escalated to Finance Minister. Why has LocalCircles stopped this exercise? We as people should deman...
Excellent work LC Manager on escalating this call connection and drop issue. Most amazing thing is Govt let them increase tariff without any accountability.
Our print media has become totally spineless. Despite all the 3 telcos increasing mobile tariffs one by one within 2-3 days, none of our business or general papers were able to show some guts and q...
Here is What is wrong with this country -The PM meets youtubers, billionaires,cricketers but not the victims of various tragedies and scams. - People were seen carrying dead b...