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Insurance

The World of Adventure Insurance: Protecting Your Thrills in India

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The World of Adventure Insurance: Protecting Your Thrills in India

For the longest of times, adventure sports and activity was excluded from the protective umbrella of insurance. People who would get an adrenaline rush out of high octane adventure sports, usually had to pay a price for the same, they were excluded from being insured. This was done as insurance companies are risk averse and generally do not prefer to extended coverage to any high risk activity.

That being said, as insurance itself has evolved and adapted, its risk appetite has also increased due to the advent of predictive technologies like data mining, data analytics and predictive modelling. These technologies have made it possible for insurance companies to accurately assess the risk of even the most thrill-seeking individual. This lead to the birth of adventure insurance in India.

Bajaj Allianz was the first Indian insurer to enter into the adventure insurance market in 2016, but more players have begun their foray into this market in recent years.

Features and benefits of adventure insurance

  • Coverage: Adventure insurance policies provide coverage against accidents and mishaps that occur while on the adventure trip. The policy extends coverage against a wide variety of adventure activities like racing sports, mountaineering, water sports, and more.
  • Peace of mind: The policyholder can rest assured that he is covered in the event of a mishap while on the adventure activity. This will give him/her a reasonable amount of peace of mind.
  • Freedom: There are a certain number of adventure junkies that restrain themselves from indulging in high octane adventure sports due to the lack of insurance coverage, an adventure insurance policy can give them a reasonable amount of freedom to explore these high octane activities, giving them freedom to do what their heart desires.

Inclusions and exclusions

Here are a general list of the inclusions and exclusions of adventure insurance:

Inclusions

Exclusions

Coverage and protection against mishaps

Self-inflicted injury

Disability coverage

Injuries caused due to being under the influence

Accidental hospitalization

Hospitalizations due to reasons other than coverage extended

Death coverage

 

Companies providing adventure insurance in India

Mentioned within are a list insurance companies providing adventure insurance in India.

  • Bajaj Allianz General Insurance
  • Adventure Sports Cover (ASC) 360

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Top 5 most unusual insurance policies in India

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Top 5 most unusual insurance policies in India

When we talk about insurance, we usually talk about it in a boring and bland way, but Insurance products don’t have to be boring and unvaried. In fact, insurance products can be some of the most wacky and original products you’ve ever come across.  Let’s have a look at the top 5 most unusual insurance policies ever written in India.

Singing Voice Insurance

Iconic Indian singer Lata Mangeshkar reportedly had her vocal cords insured in the 1960s. Also, it is reported that South Indian superstar Rajinikanth has insured his iconic voice. These insurance policies are designed to extend coverage in the event of voice loss or damage. These kinds of insurance plans are usually not available to the masses but are specially designed to cater to certain popular and high net worth individuals.

Fertility and Sperm Count Insurance

According to The Indian Society of Assisted Reproduction, around 10-15% of all married couples are now facing fertility issues.  The insurance sector has taken note of this rather recent phenomenon and designed health care plans that extend coverage to fertility issues. These plans are generally provided as an add-on package to a comprehensive health insurance policy. It could be a prudent choice to take a fertility add-on that would cover fertility treatments like IVF, including intrauterine insemination (IUI), Gamete Intrafallopian Transfer (GIFT), and other non-surgical medical treatments if you are a couple.

Marriage Insurance

Indian insurance companies are coming out with more and more innovative and unique insurance products, and one such product is marriage insurance. Under this product, the insurance company provides coverage to the insured against failure of the marriage taking place, theft at the marriage hall, fires, earthquakes, etc at the marriage venue. Public liabilities are also undertaken under the policy.

Pet Insurance

Our pets are no less than our babies and insurance companies know this. Insurance companies have recently come up with a whole host of pet insurance products that extent health insurance coverage to pet cats and dogs. Some of the notable health insurance companies that provide pet insurance are Tata Capital, Bajaj Allianz, Go Digit, and more.

Mustache and Beard Insurance

Now, this is a unique one. It was widely rumored that ace Indian cricket Virat Kohli had insured his beard sometime between 2015-18.  This is not the first time that a cricketer has insured a mustache or a beard. Iconic Australian cricket Merv Hughes’ insured his Mustache for a staggering $775,000 in the 1990s.

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Insurance

The growing importance of cyber insurance in India

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The Growing Importance of Cyber Insurance in India

Technological progress and innovation are happening at a breakneck pace, and every business worth its salt needs to have an online presence. This has led to various questions being raised about the safety, security, and integrity of these online value systems. According to the Indian Computer Emergency Response Team (CERT-In), there were 313,000 cyber security compromises in 2019 alone. These include the breach and leak of 180 million Domino’s India customers, the leak of COVID-19 test results of over 1500 patients, and the hacking and leak of healthcare data of 6.8 million Indians.

These incidents, although worrisome and unnerving, are hardly singular in nature. There have been numerous hacks and attacks, even after 2019. Some of the prominent ones include the hacking of 20 million user records from online grocer Big Basket in 2020, the theft of KYC data from Upstox traders, and many more. According to The National Cyber Security Coordinator, India has been constantly hit with 375 cyber-attacks daily in 2020. This amounts to approximately 136875 cyber attacks in 2020 alone. These cases should make it abundantly clear that every online business must make it of paramount importance to strengthen and bolster their cyber security measures.

Growth of Indian technologies

Indian technologies have grown at a furious pace after the digitization measures undertaken by the Indian Government. The reason for this growth should not solely be credited to the government but also to the ingenuity and industry of Indians. Let us now have a look at some of the major successes of Indian Tech over the past few years. Let us look at some of the notable facts:

Increase in tech investments: According to the NASSCOM Flagship Report, investments in research and development are poised to increase by 10-20% from 2021 to 2022.

Massive growth in startups: As of 2022, there were 25,000+ Indian start-ups and 78+ unicorns. Industry revenue has also crossed the important $200 Billion mark ($30 billion will be added in 2022 alone).
Employment driver: In 2022, the Indian tech sector added more than 4.5 lakh employees (this was a jump from 1,497,501 employees in 2021).  Further, the total employment in the tech sector is said to be over 50 lakh personnel.

Bleeding-edge innovation: Between 2015-2021, Indian tech companies filed over 1.3 lakh patents, ranking high in the global innovation index.

Top Indian tech companies: Tech leaders in India are global trailblazers. Some of the notable names in Indian technology include:

  • Tata Consultancy Services (TCS)
  • Infosys
  • Wipro
  • HCL Technologies
  • L&T Technologies
  • L&T Mindtree
  • Tech Mahindra

Further cases of data breaches and compromises in India

Let us now look at some of the most prominent cases of breaches of user data in the past few years:

IRCTC: The Indian Railway Catering and Tourism Corporation (IRCTC) suffered a data leak of 6 crore Indians in 2014, where their names, booking details, and emails were put up for sale on the dark web.

Idea Mobile: In 2016, telecom major Idea Mobile reported that a data breach that compromised the data of 80 lakh customers had taken place.

Yes Bank: In 2020, Yes Bank released a statement that data related to 30 lakh customers had been breached from its servers.

Zomato: In 2017, food app Zomato released a statement stating that data relating to 1.7 crore Indian users had been breached and later leaked by hackers.

The above breaches are just a drop in the ocean. There have been a plethora of data breaches over the years.

Importance of cyber insurance in India

Let us now look at some of the most important features of cyber insurance.

Risk evaluation and assessment: Generally, before an insurance company extends cyber insurance coverage to a company, they make an assessment and check the fitness of the company’s I.T. infrastructure as a preventive measure. This check-up will highlight any potential vulnerabilities in the company’s I.T system. Once highlighted, these vulnerabilities are generally patched, resulting in a more robust system.

Incident response: This is an important post-hack activity where the insurance company trains the company to follow a set protocol in the event of a data breach. This can limit the extent of the damage caused.

Coverage of legal expenses: An important function of cyber insurance is the extended coverage of legal expenses. The company can leverage these funds to hire lawyers, private investigators, etc to investigate the matter and ensure justice is served.

Financial coverage: There is a quantum of loss associated with any data breach. The insurance company attempts to cushion the insured against this loss.

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Insurance

Managing pre-existing conditions with insurance portability (6 Key Questions)

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Managing pre-existing conditions with insurance portability (6 Key Questions)

The IRDA of India allows policyholders to port from one insurance company to another. This is a boon considering the rising costs of insurance premiums. A policyholder can now seamlessly port from one insurance company to another with minimum hassle. The IRDA implemented the portability feature in 2011, citing a need for such an option in the Indian insurance industry.

Porting your insurance policy is one thing, but managing pre-existing conditions along with portability is another. Let us now have a look at how a policyholder can manage pre-existing conditions with insurance portability. Let us address some of the most important questions pertaining to insurance portability and pre-existing conditions.

1.) What is insurance portability, and how does it work?

Insurance portability gives the option for existing policyholders to switch from their existing insurance company to another insurance company. This option was introduced by the IRDA of India in 2011. Insurance portability is available in health insurance, life insurance, motor insurance, and certain other insurance products. Get a detailed understanding of how insurance portability works.

2.) How does portability affect pre-existing condition coverage?

According to the IRDA, if an insurance company decides to port your policy, the insurance company will have to extend the coverage to any pre-existing conditions that the policyholder may have. A few things to keep in mind are that it is the insurance company’s prerogative when it comes to accepting or declining a portability request.

Further, the insurance company may choose to either increase or decrease the premium amount. You must be cognizant of this and ask your new insurance provider about it before initiating a portability request.

3.) Are there any limitations to insurance portability?

Some limitations of portability include:

  • Only comparable insurance policies can be ported. For instance, a comprehensive health insurance policy can be ported to another comprehensive health insurance policy. A family floater policy can be ported to another family floater policy.
  • The policyholder can only initiate a portability request 45 days prior to the renewal date of his old insurance policy.
  • The new insurance company may choose to increase the premium. Be cognizant of this. Further, there may be certain other minor changes in the new policy bond that the policyholder must look into before taking the leap.
  • A portability request may be rejected by the new insurance company. It is not mandatory for an insurance company to accept a port request.

4.) How does portability affect the premium amount of the new insurance policy?

Portability may either increase the premium amount, decrease the premium amount, or even keep the premium amount the same. It is the complete prerogative of the insurance company to select the premium rate. These premium rates are largely determined by market conditions and the competitiveness of the insurance company. Be sure to check your new premium rates before porting.

5.) Can an insurance policy be denied for pre-existing conditions under portability?

Yes, it is up to the new insurance company to either accept or decline the portability request. You should have a detailed chat with your insurance agent about the portability request; he or she will give you an idea if the request is likely to be accepted or declined.

6.) How does portability impact claims for pre-existing conditions?

This is an especially important question and needs to be addressed with care. Firstly, it is absolutely necessary for the policyholder to disclose any pre-existing conditions to the new insurance company beforehand. If any information is held back, the insurance company may choose to reject any claim, citing a violation of the principles of insurance. Therefore, it is very important for the policyholder to be honest and truthful about this from the very beginning.

Now, once you have stated your pre-existing condition, the insurance company will assess it and may or may not insist on a waiting period. If the insurance company insists on a waiting period, then the policyholder will only be covered against this pre-existing condition after the waiting period gets over. For instance, if the new insurance company insists on a 12-month waiting period, the policyholder will only be covered against that particular condition after 12 months have passed.

There are also situations where the new insurance company may not insist on a waiting period for pre-existing conditions. In this case, the policyholder is covered against any pre-existing condition from policy inception.

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Life Insurance

Top 5 notable impacts of COVID-19 on the life insurance sector in India

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Top 5 notable impacts of COVID-19 on the life insurance sector in India

COVID-19 changed the way a lot of us look at our life and health, and this not only changed our outlook but it also changed our behavior towards certain products and services. That being said, the impact of COVID-19 was much more prominent to the life insurance sector in India. Let us learn about the top 5 notable impacts of COVID-19 on the life insurance sector in India.

 

1.) Reliance on digitization and technology: As masks became mandatory and social distancing became the norm, the insurance industry followed suite. As per an IRDAI regulation, life insurance companies were instructed to limit people to people interactions and focus on incorporating contact less forms of communication. For instance, as per an IRDAI regulation, insurance companies were now instructed to stop sending physical copies of insurance policies to customers. Soft copies through email were encouraged.

Further, there was an advent of digitization that led to online verification of identity and address proof through online portals and mobile apps. Lastly, even payment of insurance premiums was encouraged to made through online and contact less mediums. This reliance on digitization and technology has led to a more cost efficient insurance product.

 

2.) Increase in demand in both health and life products: As per the IRDAI, there has been a fantastic growth of 32% in life insurance policy sales from June 2021 (1,606,343 policies sold) to June 2022 (2,132,823 policies sold). This increase in life insurance policy sales was fueled by the increase of fear in the general public due to the COVID-19 pandemic. This trend of growing life insurance sales is likely to continue going into 2023 and beyond.

 

3.) Reduction in invest-able income: The increase in life and health insurance sales have had an inverse effect on the invest-able income in the short term. This is because as people are dealing with the rising costs of insurance premium, they have lower residual invest-able income.

 

4.) Alterations in life insurance underwriting: Life insurance companies have generally taken a more cautious approach when it comes to underwriting life insurance policies post the COVID-19 era. This is done by increasing application scrutiny and asking potential policyholders to undergo a battery of health tests before disbursing a life insurance policy in their name.

 

5.) Increased penetration of insurance products: India’s life insurance penetration was a lowly 2.82% in 2019, this was far lower compared to the life insurance penetration in countries like USA (52%) and UK (32%)
That being said, the COVID-19 pandemic at least pushed India’s life insurance penetration to the close to 3.2%, which is near to global average.

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Frequently asked questions

  • What is the life insurance penetration in India (As of 2020)

    3.2%

  • Has penetration in life insurance increased post the COVID-19 era?

    Yes, penetration increased from 2.82% to 3.2%.

  • What are some examples of digitization in the life insurance sector?

    Top 3 Examples of digitization include:

    1. Online premium payments
    2. Incorporation of blockchain technologies
    3. Incorporation of data analytics

     

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    Health Insurance

    How to port a health insurance policy? (Easy Steps)

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    How to port a health insurance policy? (Easy Steps)

    A health insurance policy is a contract between an insurance company and the insured. Even though it is usually a long term contract, it is not mandatory for the insured person to continue with the health insurance company in perpetuity. The insured can easily replace his old insurance provider with a new one; This process is called insurance porting and this feature was introduced by the IRDA of India.

    Let us now address some of the most important questions with respect to porting your health insurance policy:

     

    • Why would you want to port your health insurance policy?
    • What are the benefits of porting your health insurance policy?
    • What are the steps of porting your insurance policy?
    • What are the documents required to port an insurance policy?
    • What are some special points to keep in mind?

    Why would you want to port your health insurance policy?

    There are a variety of reasons why a person would want to port their health insurance policy. It is possible that he or she may be getting a better premium rate, he or she may be unhappy with the customer support, or he or she may be getting better bang for their buck with another insurance provider. All of the above are valid reasons for a person to port their health insurance policy.

    What are the benefits of porting your health insurance policy?

    Let us talk about some of the most pertinent benefits in porting a health insurance policy:

     

    • Lower premium rates: The IRDA of India has created an environment of high competition among insurance companies in India. Due to this, insurance companies are constantly looking to get more customer by slashing premium rates. A policyholder can leverage this situation and look to port their policy to another insurer.
    • Better coverage: Similar to the tactic of reducing premium rates, insurance companies also provide additional services, perks and additional coverage to attract customers. You can take advantage of this.
    • Better service: At times, a customer may be satisfied with the premium rates and the coverage provided by his current insurer but he may be highly dissatisfied by the kind of service provided to him. This is where he may opt to port his policy from his current provider to another company that has a track record for providing better customer service and satisfaction.
    • Higher claim settlement ratio: The claim settlement ratio is the percentage of claims a health insurance company settles. For instance, if a health insurance company receives 100 claims, and settles only 95 claims, the company’s claim settlement ratio is 95%. A high claim settlement ratio should be of paramount importance while considering buying a health insurance policy.

    What are the steps of porting your insurance policy?

    Let’s now understand the steps of porting your insurance policy.

    Step 1) Intimate your new health insurance provider

    Once you have zeroed in on your new health insurance provider, initiate a portability request with them. Ensure that you have placed this portability request 45 days prior to the renewal date of your current policy.

    Step 2) Fill-up and submit the portability form

    The insurance company will now provide you with a portability form and a proposal form. You will need to fill-up these forms accurately and honestly and furnish them to your new insurance provider.

    Step 3) Port to your new insurance provider

    The insurance company will now take a maximum of 15 days to decide on your application. If the new insurance company decides to port your account, you will now have an insurance contract between yourself and your new insurer. The old insurance contract will now be terminated.

    What are the documents required to port an insurance policy?

    The following documents will be required to initiate a porting request:

    • Policyholder’s identification documents and address proof (Aadhar Card, PAN Card, etc)
    • Old policy bond
    • Details pertaining to any previously made claims
    • proposal form and portability form

    What are some special points to keep in mind?

    There are 2 important points that you need to keep in mind before porting your health insurance policy, they are:

     

    • No claim bonus: It is imperative to keep in mind that your No Clam Bonus (NCB) if any is carried on from your last insurer to your new insurer. You do not want to miss out of any NCB coverage that you may have accumulated in your last insurance policy.
    • Coverage: Another very important aspect to keep in mind is if there is any divergence in the level of coverage provided by your old insurer and your new insurer. If your new insurance provider provides additional coverage, then that is fine but there should not be less coverage than before. Check the policy brochure and policy bond in detail before taking the leap.

    Author Bio

    This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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    Frequently asked questions

  • Can you port your health insurance policy in India?

    Yes, you are eligible towards insurance portability as per the IRDA of India.

  • How many days prior do I need to inform my new insurance provider about portability?

    You must ensure that you inform your new insurance provider 45 days prior to your current insurance policy's renewal date.

  • Is NCB carried forward after portability?

    Yes, NCB is generally carried forward. But you must verify this with your new insurance provider.

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    Insurance

    Can you delay your insurance premium payment? (Examples)

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    Can you delay your insurance premium payment? (Examples)

    If you have an insurance policy, the question “Can I delay my insurance premium payment?” must have crossed your mind at least once. And, if you can delay your payment, then by how many days can you delay it? We’ll let’s talk about this and attempt to get to the bottom of this matter.

    We will be talking about delaying your health insurance premium, but you can extrapolate this example and use it as an example for life, motor, and even other types of insurance. Let us talk about this with the help of a couple of real world scenarios. Let’s begin:

    First Scenario

    Let us assume that Mr. Rishi has a health insurance policy with HDFC ERGO. He always diligently pays his premium on time, but this time around due to certain difficult situations he is unable to pay his health insurance premium on due date.

    Let us assume that Mr. Rishi’s due date is on the 1st of Feb. Here, Mr. Rishi makes his insurance premium payment on the 10th of Feb. Now, as HDFC ERGO provides a grace period of 15 days post due date, Mr. Rishi will be able to renew his health insurance policy even after he paid his premium post due date.

    Second Scenario

    Let us assume that Mr. Sawant has a health insurance policy with Care Health Insurance. He also pays his premium on a timely basis. But this time around, due to unforeseen conditions, he missed paying his insurance premium.

    Here, unlike Mr. Rishi, Mr. Sawant not only didn’t pay the insurance premium on or before due date, he didn’t even pay within the grace period. In such a situation, the insurance company will be left with no choice but to terminate his health insurance policy. All benefits and accrued premium and the corresponding coverage benefits will be terminated.

    Important points to remember

    No coverage in grace period: It is very important that you understand that even though you can renew your insurance policy by making a premium payment in grace period, the policyholder will not be eligible to make any claims during this period. That means if he/she gets sick and admitted to the hospital during grace period, the insurance company will not be making any claim payments during this time.

    Different grace period for different companies: It is also important to understand that different insurance companies provide different grace periods. Some companies provide a grace period of 15 days, and some companies provide a grace period of 30 days. It is important to check the insurance policy bond and find out your grace period.

    Always pay premium on time: Even though insurance companies provide a grace period, it is always wise to make timely premium payments on or before due date.

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    Motor Insurance

    Will my car insurance cover door dings and scratches?

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    Will my car insurance cover door dings and scratches? (Examples)

    Getting dings and scratches are part and parcel of being a car owner, especially if you reside in a metro city that has heavy traffic. In such a scenario, you may be wondering if your shiny new car is covered against door dings and minor scratches? Can you ask your insurance company to compensate you against any damages that might occur via scratches and dings? Well, let’s find out!

    Yes, your car insurance company will cover door dings and scratches as it comes under collision coverage. That being said, being covered and applying for a claim are two different things. There could be scenarios where it would not even be worth your time and effort to apply for a claim for scratches and dings. Let us go through such scenarios below:

    First Scenario (Semi-Extensive damage)

    Let us assume that Mr. Natraj has bought a new Honda Brio car and has insured the same. A couple of months after the purchase, he met with a minor accident where the door got extensively dinged and scratched. The cost for repairing the damage was quoted at Rs.10,000.

    Now, since this kind of damage comes under collision coverage, Mr. Natraj is eligible to apply for a claim. But, he must first pay a deductible for Rs.2000 to the insurance company (all car insurance policies have a deductible clause.)
    In such a scenario, it may be worth to apply for a claim as Mr. Natraj would end up saving Rs.8000 in repairing costs.

    Second Scenario (Non-extensive damage)

    In this scenario, let us assume that Mr. Hari has bought a new Maruti car and has bought insurance for the same. A week later, a fellow driver dinged his car’s door while parking. Here, the estimated repairing cost came at Rs.1500. Mr. Hari’s car insurance policy has a deductible amount of Rs.2000. That means that if Mr. Hari claims for damages, he would actually be in a loss of Rs.500. Mr. Hari would be better off directly paying the Rs.1500 directly out of his pocket.

    Important points to keep in mind

    There are a few other important points that a policyholder needs to keep in mind before making a claim for dings and scratches. They are:

    No Claim Bonus: If you make a claim, it will eliminate the No Claim Bonus discount. In such a scenario, where the claim amount is very low it is worth your while to not make a claim and keep the No Claim Bonus intact.

    Increased Premium: Insurance companies will generally increase your premium renewal cost if you have a habit of making claims. Keep this is mind before making a claim.

    Deductible Component: As talked about before, always be cognizant of the deductible amount in your car insurance policy before making a claim. The cure should not be worse than the disease!

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    Health Insurance

    Park Mediclaim TPA (Role, Features, Customer Care, and More)

    Learn about Park Mediclaim TPA (A Simple Guide)

    Park Mediclaim Insurance TPA is an Indian Third Party Administrator (TPA) Company, which acts as a link between insurance companies and policyholders. It is the role of the TPA Company to provide customer support, customer education, and claim management.

    Let us now talk about some of the main aspects of Park Mediclaim Insurance TPA, such as:

     

    • Role of Park Mediclaim Insurance TPA
    • How to login and register?
    • How to submit a claim?
    • Important Downloads
    • Empaneled Hospitals
    • Customer Support

    Role of Park Mediclaim Insurance TPA

    Customer Enrollment: The company engages in the enrollment and education of potential insurance buyers. Once educated, the company then offers the best possible insurance products to their clientele.

    Customer Support: Once enrolled, it is the role of Park Mediclaim Insurance TPA to provide quality customer support to policyholders, both during hospitalizations as well as pre and post hospitalization.

    Health Card: It is the job of the TPA company to furnish the policyholder with his/her Insurance Health Card. The policyholder can avail treatment only once they furnish this Health Card to the hospital.

    Claims Management: All claim related queries, grievances, and support will be extended by the TPA Company to the policyholder.

    How to Login and Register?

    Some of the benefits and features of Park Mediclaim Insurance TPA can be accessed by registering and logging into their official website. How can you do this? Here’s how:

    Step 1) Visit the official website of Park Mediclaim TPA

    https://www.parkmediclaim.co.in/

    Step 2) Navigate to the ‘Login’ section on the top bar

    Step 3) Select your ‘Login Type’

    Here, you will have to select your login type. There are various types of logins, such as:

    • Agent Login
    • Corporate Login
    • Broker Login
    • RO Login
    • Branch Login
    • Hospital Login
    • Admin Login
    • Employee Login

    Once selected, enter your Username and Password and click on ‘Login.’

    How to Submit a Claim?

    Submitting an insurance claim is one of the most important aspects. Let us now understand how you can submit an insurance claim with Park Mediclaim TPA

    How to submit cashless claim?

    Step 1) Inform the TPA Company or Insurance Agent

    First, you will need to inform your TPA Company or Insurance Agent.

    Step 2) Submit your Health Card to the hospital

    Your hospital will request your Health Card or your Policy Bond, you will have to submit this during the admission process.

    Step 3) Fill-up the forms

    Now, you will have to fill-up and submit the Pre-authorization form, attached your ID and address proof, and submit it to the hospital. Post submission, the hospital will verify your details with the TPA company, and upon verification they will accept your cashless request.

    Once your cashless request is accepted, all hospital payments will be paid by the insurance company directly to the hospital.

    How to submit Reimbursement Claim?

    Step 1) Inform the TPA company or Insurance Agent

    First, you will need to inform the TPA company or the Agent.

    Step 2) Submit your Health Card to the hospital

    Your hospital will request your Health Card or your Policy Bond, you will have to submit this during the admission process.

    Step 3) Keep all original documents

    After admission, you will have to ensure that you store all hospital related documents like admission summary, discharge summary, bills, reports, receipts, etc. All of these documents will have to be submitted to the TPA company after discharge.

    Step 4) Submit all documents after discharge

    Upon discharge, fill-up the claim form and attach all of your medical documents. Now, submit these documents to the TPA company. Your claim will now be registered.

    Step 5) Follow-up after your claim

    You will also have to follow-up on the status of your claim on a timely basis.

    Important Downloads

    Important insurance related downloads can be accessed through the Park Mediclaim TPA website here. Important downloads include:

    • Pre-auth Form
    • Hospital Agreement
    • Claim Forms
    • PPN Declaration Letter
    • TPA Information Sheet
    • Empaneled Hospitals List

    Empaneled Hospitals

    If you want to avail cashless treatment, then the policyholder will have to get admitted to an empaneled hospital. Check a list of empaneled or network hospital here. Once on this page, enter your city, state, hospital name, and then press on ‘Submit.’

    Customer Support

    Type

    Contact Details

    Phone Number

    (+91) 11-43191000-100 / 1800-11-55-33

    Email Support

    park@parkmediclaim.co.in

    info@parkmediclaim.co.in

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    Does Health Insurance cover Dental Treatment?

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    Does Health Insurance cover Dental Treatment?

    With the increasing penetration of health insurance, health insurance companies have begun introducing more comprehensive coverage. However, in the case of dental insurance, most companies do not offer dental coverage as a standalone policy but can be purchased as an additional cover or an optional rider.

    In this article we will talk about the following:

     

    • What does dental insurance cover?
    • Importance of dental insurance coverage
    • Companies offering dental insurance coverage
    • Inclusions and exclusions under dental coverage

    What does Dental Health Insurance cover?

    In simple terms, in dental cover, any dental treatment related to illnesses, accidents, or injuries will be covered under the plan. To cover the cost of these treatments it is always advisable to buy a dental cover keeping in mind the cost of medical inflation.

    Importance of Dental Insurance

    1.) Protect your finances

    Nowadays dental treatment is expensive due to inflation, innovation, usage of high-tech set-ups, etc. Hence to avoid having to spend your hard-earned money on these expensive treatments it is always safer to buy a dental cover along with a standard health plan.

    2.) Routine dental check-ups

    Many health insurance companies provide the policyholder free dental health check-ups to take necessary care of the individual’s oral hygiene.

    3.) Free consultations

    The policyholders will receive a number of free consultations under the cover depending on the policy scope.

    4.) Teeth whitening

    Some health insurance companies also provide compensation for teeth whitening treatments or procedures.

    5.) Tax benefit

    Avail of tax benefits on your health insurance premiums under Section 80D of the Income Tax Act.

    Companies offering Dental Insurance coverage

    Following are the health insurance companies that offer dental coverage

    Sr. No

    Company Name

    Plan Name

    1

    Care Health Insurance

    Care Plus Plan

    2

    TATA AIG

    TATA AIG Medicare Premier Plan

    3

    Digit Health Insurance

    Digit Care Plus Plan

    4

    Future Generali Health Insurance

    Future Total Health Plan

    5

    Chola Ms Health Insurance

    Chola Ms Privilege Healthline Plan

    6

    Kotak Mahindra Health Insurance

    Health Premier Plan

    7

    ManipalCigna Health Insurance

    ProHealth Insurance

    8

    Oriental Insurance

    Oriental Mediclaim Policy

    9

    Reliance Health Insurance

    Digital Care Management Policy

    10

    SBI Health Insurance

    SBI Arogya Plus Plan

    11

    Star Health Insurance

    Star Comprehensive Plan

    12

    Aditya Birla Health Insurance

    Activ Health Platinum Plan

    Activ Health Enhanced Plan

    13

    Raheja Health Insurance

    QUBE Health Insurance Plan

    14

    IFFCO Tokio Health Insurance

    Individual Medishiled Plan

    15

    Edelweiss Health Insurance

    HealthPlus Plan

    Inclusions and Exclusions under Dental Coverage

    Following below are some of the general inclusions and exclusions under dental health cover in India. It is always advisable to thoroughly check the scope and terms of the policy before opting for one.

    Inclusions

    Exclusions

    Dental surgery/Implants

    Cosmetic procedures

    Oral consultations

    Dentures

    Root canal treatments

    Jaw alignment /correction

    Treatment of gum illnesses

    Orthodontic treatments

    Decayed tooth treatments

    Placement of dentures

    Filling of cavity

    Prosthesis

    Accidental damage or injury to tooth/teeth

    Implants

    Author Bio

    This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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    Frequently asked questions

  • How to select the right dental insurance coverage?

    It is advisable to always compare various dental plans based on their features, benefits, coverage, and premium. Comparing these factors will assist you in purchasing the right dental plan suitable for your needs

  • Can you buy dental health insurance coverage online?

    Yes, you can easily purchase a dental cover online in the comfort of your home. However, we advise you to thoroughly read the terms and conditions of the policy and get your doubts cleared before buying the policy.

  • Is root canal treatment covered under dental insurance coverage?

    Yes, root canal treatment is covered under dental health insurance cover.

  • Does dental health insurance pay for braces?

    No, generally dental insurance does not offer coverage for braces, but many health insurance companies have started offering coverage for the same. It is advisable to check the same in the policy wording.

  • Do all health insurance plans offer dental coverage?

    Health insurance companies do not offer dental insurance as a general standalone policy. However, you can buy it as an additional cover or a rider policy bundled up with a general health plan.