Complete guide to maternity insurance in India. Understand waiting periods, coverage limits, sub-limits, and compare the best maternity health insurance plans for 2026.

With every year, healthcare is becoming more expensive. Whether it’s a routine check-up or a surgery, medical bills are getting out of hand. We need health insurance, especially family health insurance plans to keep our loved ones financially protected in the time of need. Here, we will talk about the concept of family health insurance, how a family floater plan works and the benefits and coverage you get. What is Family Health Insurance? Buying separate health insurance policies for each family member may not always be financially feasible. Instead, you can get a family health insurance plan because it covers your entire family under one roof against one affordable premium payment. Also, you need to remember just a single renewal date. Types of Family Health Insurance You can cover you family in two main ways: Family Floater Plan In this, multiple family members are covered under one single sum insured. All the insured members shared the total coverage amount When needed, any member can use the sum insured You pay only one premium for the entire family Example: With a family floater plan of a ₹10 lakh cover, any family member covered in the policy can use this amount in a policy year. It’s cost-effective especially for young families because members are generally healthy. Individual Health Insurance Plans for Family Members Here, each family member has a separate health insurance plan with their dedicated sum insured. They all get independent coverage and claims by one member don’t affect others. Logically, premiums are paid separately for all. It’s better to prefer this option when: There are older members in the family Parents have existing health conditions You want that everyone must have higher and dedicated coverage Which Plan is Better? For young couples and families with small children, a family floater plan works good enough and for families that have elderly parents or members with medical histories, individual plans may be considered. In fact, many Indian households choose to get a family floater plan for self, spouse and children and separate individual policies for parents. This approach is very practical. What Does a Family Health Insurance Cover? Most of the family health insurance plans provide a broad range of coverage. As per the policy and insurer chosen, typical coverage includes the following: In-Hospitalization Costs (essentials of each plan) Charges of room and ICU Surgery fees Charges for doctor and nursing Pre and Post Hospitalization: Expenses before getting admitted to the hospital (like tests) and after discharge (like follow-ups and medicines). Daycare Procedures: Those treatments where you don’t have to stay but special care is needed (like chemo or dialysis). Cashless Treatment: Many plans also include cashless hospitalisation at network hospitals in which the insurer directly settles the bill with the hospital. AYUSH Treatments: Some insurance providers even cover Ayurveda, Yoga, Unani, Siddha and Homeopathy treatments. Add-Ons and Riders: You can always improve your policy with extra covers like maternity benefits, according to what your insurer offers. Key Benefits of Family Health Insurance Financial Protection for Emergencies: Medical emergencies can be highly expensive. Having family health plan protects your savings and ensures timely treatment. Cost-Effective Premiums: Since one premium is paid for the whole family, buying a family floater plan would generally be cheaper than separate plans for all. Tax Benefits: The premiums that you pay towards health insurance can be claimed as tax deductions (up to specified limits). Flexible and Add-On Options: often, there is an option to add newborn babies or cover elderly parents (as per the plan). How Much Does Family Health Insurance Cost? The final cost of the plan varies according to several factors: Sum Insured: Higher coverage obviously means a higher premium. Ages of Family Members: Coverage cost for older people is more. Including parents increases premium. Number of Members Covered: The premium increases with multiple people under one plan but still it’s cheaper than individual plans. Lifestyle and Health Conditions: Any pre-existing conditions and poor lifestyle habits (smoking etc) can also affect premium amount. Why You Should Buy Insurance Online Today, it’s very easy to compare plans (benefits, prices etc) and buy insurance online. Purchasing online has many advantages: Convenience: You can search for and compare different options from anywhere. Instant Quotes: Based on what you need, you get an instant estimate of the premium. Paperless Policies: Since all documents are digital, there’s not a lot of paperwork to manage. Easy Renewals: Renewals is just a matter of a few clicks every year. Certainly, buying health insurance online saves a lot of time and helps you make a better decision. Family Health Insurance vs. Government Schemes In India, we also have public health schemes like Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (PM-JAY). They are designed to offer health coverage to low-income families. Households with annual income of up to ₹5 lakh can get for secondary and tertiary care. However, we should not confuse these social welfare schemes with private health insurance plans since they can be bought online or through agents. Tips to Consider Before You Buy Here are some points that you must follow before you pick and finalize a policy: Carefully read policy terms, especially what’s not included. Do check the waiting periods for pre-existing diseases. Compare the listed hospitals that provides cashless treatment. Look for plans that come with lifelong renewability. Choose the right sum insured according to the health needs of your family. Conclusion You can actually make one of the smartest financial decisions by getting family health insurance plan, especially a family floater plan. Your family will stay protected against unpredictable medical expenses, you’ll get tax benefits and there will also be peace of mind. It doesn’t matter whether you’re starting a family young or planning for the healthcare of your parents, this plan will certainly provide the essential financial security and easy access to quality medical care. Don’t wait for a medical emergency to realise how important it is to secure the health and future

Introduction Travel is exhilarating but medical emergencies abroad are expensive and unpredictable. For Indian travellers, buying robust overseas travel medical insurance before boarding is not optional if your destination or visa requires it and it’s strongly recommended in every other case. This article explains what international travel health insurance covers, what to check in policy wordings and the recent regulatory and entry rule updates you must know before you fly. What “overseas travel medical insurance India” covers Overseas travel medical insurance (also called international travel health insurance or medical insurance for abroad travel) typically includes: Emergency medical treatment and hospitalisation abroad (up to the sum insured). Medical evacuation and repatriation of remains. Emergency dental treatment for acute pain. 24/7 assistance and case management (hospital referrals, direct billing help). Optional add ons: trip cancellation/ interruption, lost baggage, personal liability and adventure sports cover. Always confirm limits for hospitalisation, in patient vs out patient care and whether medical evacuation is included or subject to separate approvals. Visa and entry requirements you must meet Several countries require proof of visa compliant travel medical insurance at application or entry. The Schengen Area, for example, still requires a minimum emergency medical coverage of €30,000 covering repatriation and urgent hospital treatment and the policy must be valid for the entire stay. Many embassies list approved wording or insist on a specific territorial scope (e.g., worldwide excluding the traveller’s country of residence). Note: Some countries control health access through immigration fees or surcharges (e.g., the UK’s immigration health surcharge for certain visa types), which is separate from private travel insurance and may still apply even if you hold private cover. Indian regulatory context and recent updates Insurance products sold in India (including overseas travel policies) fall under the Insurance Regulatory and Development Authority of India (IRDAI). IRDAI’s health department publishes master circulars, product guidelines and model wordings that insurers use to design travel products; a formal overseas travel policy wording and master travel policy documents are available on the IRDAI portal. Insurers must adhere to these standards when offering travel medical cover from India. While there is heightened regulatory attention on product standardisation, as of October 2025 there is no blanket government mandate that every Indian leaving the country must purchase a single standard travel policy however, IRDAI guidance and master circulars shape minimum disclosure, claims handling and policy wording that affect what insurers sell and how claims are processed. Always check the insurer’s policy wording and IRDAI circulars for updates before purchase. Practical points when buying medical insurance for abroad travel Buy before departure visa processing often expects the policy to be active for the whole trip. Check the territorial cover and currency (Schengen accepts EUR; many embassies want specific currency equivalence). Verify evacuation & repatriation limits these costs can be enormous and are the primary reason to choose a higher medical limit. Declare pre-existing conditions and read waiting periods; nondisclosure can void claims. Confirm direct billing or cashless arrangements with the insurer’s assistance partner. Check pandemic/COVID clauses many insurers continue to offer COVID treatment cover but terms vary. Claims, documentation and assistance Keep digital and printed copies of: Policy certificate and emergency assistance number. Hospital invoices, medical reports, prescriptions and scans. Police reports (for accidents), airline PIR (Property Irregularity Report) for baggage loss and any embassy/consulate correspondence if needed. Contact the insurer’s 24/7 assistance team before receiving treatment where possible some policies require the assistance provider’s pre approval for evacuation or hospital admission. New entry/processing systems that matter to travellers The EU Entry/Exit System (EES) and related rollouts (and the future ETIAS waiver) have changed border checks across many European ports during these checks travellers may be asked routine questions about accommodation, return tickets and insurance. Although EES itself does not create new insurance requirements, it has increased the likelihood that border officials will query travellers about whether they hold travel insurance which highlights the importance of carrying proof of valid cover. Who should consider higher limits or specialised cover? Long stay students and expatriates (consider student or expatriate health plans). Travellers to remote or high cost countries (USA/Canada require high cover due to medical costs). Adventure travellers ensure sports/activities are covered. Senior travellers or those with multiple pre existing conditions specialised senior travel plans often include higher premiums and specific underwriting. Final checklist Read the policy wording end to end to know exclusions and waiting periods. Ensure sum insured and repatriation limits meet your destination’s requirements. Buy visa compliant cover if your destination mandates it (Schengen and several others). Carry both digital and paper copies; save the assistance number in your phone. Contact Policywings for tailored comparisons if you have specific needs (long stays, pre-existing conditions or adventure activities). Overseas medical emergencies are both traumatic and expensive. Having the right international travel health insurance turns a potentially ruinous bill into a manageable claim and ensures you get timely medical help and repatriation when needed. If you’re planning a trip, start with destination specific requirements and the insurer’s assistance network and choose cover that gives you practical, on ground support not just a promise on paper.

Introduction You can’t predict life but it’s always possible to secure the financial future of your family with life insurance. It is a very reliable financial protection that supports your loved ones in case something unexpected happens to you. Many people delay buying it when it should be a priority. They mistake it for being complicated, expensive or unnecessary (when young). From a practical standpoint, the right life insurance term plan should ideally be chosen early. This will be one of the most sensible financial decisions you make. Also, now, you can have all the convenience to buy insurance online. Here, we will discuss all the important details around it so that you know why it matters and what you must do. What Is Life Insurance? In simple terms, it is a deal between you and an insurance company. You will pay a regular premium for which the insurer pays a fixed amount to your nominee in case of your unfortunate death during the term of the policy. In fact, some policies even offer benefits to you if you survive the policy period. But basically, the purpose of life insurance is to protect your dependents from facing financial hardship after you. It will be correct to say that not just money, life insurance also protects people. Why Buy Life Insurance? If you take a look at the financial structure in India, you will notice that there are heavy responsibilities on individuals. In most of the households, everything depends on one or two earning members. In case there is a sudden loss of income, it can be such a challenge to handle everything whether it’s daily expenses or long-term goals. This is how life insurance helps: It replaces lost income for the family Settles loans like home or personal loans Funds education and marriage of children Dependents don’t have to exhaust their savings Provides peace of mind during uncertainties Types of Life Insurance in India We have life insurance available in different forms so that people can pick the most suitable as per their stage of life, goals and responsibilities. While each one serves a different purpose, ultimately, they all are designed to offer financial protection. Let’s learn about the types of life insurance plans: Term Life Insurance A life insurance term plan offers complete protection for a specific period like 20 or maybe 30 years. Usually, this is the first and vital life insurance policy that people buy. Nominee gets a lump sum if the policyholder passes away during the policy term Policyholders won’t get any maturity benefit if they survive This is the most affordable way to obtain a high life cover Term Insurance with Return of Premium (TROP) This is for those who want protection along with a way to create savings. Provides life cover throughout your policy term Returns all the premiums you have paid if you survive the term Because you get it all back, premiums are higher than regular term plans Unit Linked Insurance Plan (ULIP) This plan combines life insurance with market-linked investments for greater benefits. Great for long-term financial goals and investors that have a moderate risk taking capacity. A portion of the premium goes for life cover The rest of the amount is invested in equity or debt funds The returns you get depend on market performance Endowment Plan It offers both insurance and savings and is are preferred by those who want guaranteed benefits The plan pays the sum assured on death or maturity Disciplined savings are encouraged Returns are stable but generally lower Money Back Policy These plans provide regular payments during the term and are ideal for those who need funds at different stages of life. You get regular survival benefits at fixed intervals You keep getting life cover throughout the term Helps in meeting planned expenses Whole Life Insurance This offers coverage for almost the entire lifetime and is best for people who want lifelong financial protection. Usually provides coverage up to 99 or 100 years of age Nominees get guaranteed payout The premiums are higher compared to term plans Child Insurance Plan This helps you secure your child’s future. It makes sure that their goals stay protected even in difficult times. Helps in supporting education and important milestones Premium is waived off if the parent passes away The structure is mostly as that of an endowment or ULIP Retirement or Pension Plans They focus on offering financial stability after retirement and help maintain monetary independence in the golden years. Helps in building a nice retirement fund You receive regular income after retirement There may also be annuity or deferred payout options Group Life Insurance Plan These plans are usually offered by employers and are very useful. However, they should not be a replacement for individual life insurance. Covers all the employees under a single policy Basic life cover is provided at low cost Coverage usually ends with the employment Key Benefits of Having Life Insurance Besides providing financial support after death, life insurance offers many other major benefits like: Dependents get financial security Tax benefits under existing laws Policyholders get peace of mind for the Support is provided during essential life milestones Adequate coverage provides protection against inflation With a well-chosen policy, you can make sure that the lifestyle of your family remains stable even in when you are no longer there. How Much Life Insurance Coverage Do You Need? Coverage is not a random estimate. It has to be according to your financial responsibilities. Here’s a simple approach: Yearly income × 10 to 15 Also add in outstanding loans Future goals like education and marriage Subtract your existing savings This will give you a good a realistic and effective cover amount that you must consider. Why Buying Life Insurance Early is a Good Idea Many people assume that it’s too early to buy life insurance and often delay it. However, postponing it often leads to higher premiums and you have just limited choices

Introduction In India’s insurance market today, people often ask, “Which is better: term insurance or traditional life insurance?” Picking the right choice is important. This article looks at both options by comparing key factors like cost, purpose, flexibility, tax benefits, and real-life examples from IRDAI reports, industry studies, and recent news. What Are These Two Plans? Term Insurance Term insurance is a basic protection product that pays a death benefit if the individual who is covered by it passes away during a certain time frame (e.g., 10 to 40 years). Return-of-Premium (ROP) plans are costlier and typically give lesser returns than putting the premium difference separately in market-related choices like mutual funds. Traditional Life Insurance Also referred to as whole life, endowment, or saving-linked traditional plans, these policies combine life protection with savings or investments. They also offer a death benefit, as well as a maturity benefit if the individual is still alive after the term. They can also pay bonuses or cash value that may be accessed or borrowed against. Premium Comparison Term plans are typically 5-10 times lower in cost than conventional policies for the same sum assured, based on age and insurer, as they are protection-oriented. A ₹1 crore cover, for instance, would cost a 30-year-old ₹7,000 a year, compared with a comparable conventional plan that could be ₹25,000 a year. Sum Assured Offered Term insurance provides high coverage at low cost, which suits families requiring high financial protection. Typical plans provide lower coverage as they are more expensive with a savings feature. Benefits Beyond Well-being Term Insurance – Death benefit only (except ROP variants). – No maturity benefit or cash value. – Policy terminates without payment if you outlive the term (except ROP). Traditional Plans – Offer death benefit, maturity benefit, and bonuses. – Build cash value over a period of time, which can be borrowed or surrendered. – Paid-up/surrender value is provided if premiums are discontinued after a minimum duration of 2-3 years according to Insurance Regulatory and Development Authority (IRDAI) guidelines. Policies surrendered within this time can lapse without benefit. Flexibility & Simplicity Term Insurance – Extremely simple with negligible fine print. – Optional riders (waiver of premium, accidental death, critical illness) can be included at a minimal additional cost. – Flexible payout options (monthly income or lump sum) and coverage to age 99 are provided in some policies. Traditional Life Insurance – More intricate product design with bonus, loyalty additions, and investment elements. – Less flexible with penalty, surrender charge, or forfeiture of bonus if terminated prematurely. Tax Benefits under the Indian Law Both term and traditional policies are eligible for deductions in the Income Tax Act, 1961, under Section 80C (up to ₹1,50,000 annually) and tax-free death benefits under Section 10(10D). In the new tax regime (from FY 2023-24 onwards), deductions under Section 80C are not permitted. Also, premiums paid for life insurance attract Goods and Services Tax (GST) between 4.5% and 18%, depending on the product nature and premium payment mode. This will marginally impact the total cost of ownership. Claim Settlement Ratios (CSR) IRDAI cites a claim settlement ratio of approximately 98% for life insurers during FY 2022-23. LIC had a CSR of 98.52%, whereas private insurers collectively had a CSR of 98.02%, as stated in the IRDAI Annual Report 2023-24. Conclusion Though term insurance surpasses in being cheap, offering a lot of coverage, being easy, and being flexible; traditional life insurance is worth it for those wanting a savings cum protection product. For the average working population, particularly for young income earners, term insurance and individual investments (SIPs, mutual funds, PPF, etc.) usually prove to be the wiser option for goals. First, define your financial goals: is it protection, investment, or both? This clarity will help you decide which plan fits you best.

Even after being a highly important financial tool, there is still a lot of confusion, assumptions, outdated advice and second-hand opinions around life insurance. As a result, many people delay buying a policy. Not because they don’t need it, but because there are so many myths around how life insurance actually works. There may also end up being underinsured or making poor choice of policy. Let’s take up the most common misconceptions and clear the air around them. Myth 1: Life Insurance Is Needed Only After a Certain Age One of the biggest misunderstandings is that you can wait till your later years to think about life insurance. Whereas, in reality: You pay lower premiums when you start early Health checks are fewer and coverage is easier to get Securing long-term protection becomes more affordable When you start early, you can lock in these benefits at a much lower cost. Myth 2: Term Insurance and Life Insurance Are the Same There are so many people who assume that all life insurance policies work just the same. But the truth is: Life insurance can consist of both savings or investment benefits A life insurance term plan is entirely focused on providing financial protection With term insurance, you can get higher coverage at lower premiums. Other life insurance plans bring together protection and savings. Remember this difference so you have realistic expectations in your head. Myth 3: Only Those Who Have Dependents Need Life Insurance Even if there is nobody who depends on your income at present, life insurance can still be very useful. It can help in covering: Outstanding loans (like home loans) Long-term financial responsibilities Future family planning An early purchase also helps in securing better terms for the future. Myth 4: Term Insurance Gives “Nothing Back” It is commonly believed that term insurance is a waste of money because the policyholders don’t get any maturity benefits. This is what happens in actual scenario: Term insurance is designed for protection only It provides high coverage at just minimal cost The benefit is in financial security and not any returns This is why a life insurance term plan is one of the most cost-effective ways in which you can protect your family. Myth 5: Life Insurance Is Too Expensive Many people miscalculate the cost of life insurance as too high. For them, it could be really surprising to know that: Premiums for term insurance can be very affordable Coverage is less costly when purchased early Online plans reduce additional charges It’s good to compare options of insurance on PolicyWings before deciding because then you can find real value for the price. Myth 6: Buying Insurance Online Is Risky Some people still hesitate to buy insurance online because they think it as it’s unsafe or just complicated. But, Online platforms offer full transparency Policies come directly from insurance providers Both documentation and policy tracking are very easy With trusted platforms like insurance on PolicyWings, you can get a clearer process and upfront details of features, premiums and benefits of the plans. Myth 7: Employer-Provided Life Insurance Would Be Enough Often, employees assume that workplace insurance will provide sufficient coverage. It’s not the case because: Employer-provided cover usually ends with the job Coverage amounts are usually limited only You don’t control the features of the policy By getting personal life insurance, you ensure continuity and adequate protection even if the career changes. Myth 8: Claims Are Always Difficult to Settle The fear that their claim might get rejected also discourages so many from buying insurance. they don’t know that: When details are disclosed honestly, claims are always smoother If all documentation is provided, it really helps The claim processes of reputed insurance providers are streamlined Just be thorough with the T&C of the policy and maintain transparency to reduce complications. Myth 9: Life Insurance Is About Death Benefits Only While protection is at the core of it, many life insurance policies also support: Long-term financial planning Savings according to your goals Planned payouts The key is to select the right plan that aligns with your objective and not just assumptions. Why is it Important to Clear These Myths When you believe these myths over facts, it can often lead to: Delayed financial planning Getting insufficient coverage Costly decisions in the later years of life Life insurance will work best for you when it is properly understood and not rushed or avoided. Only when you understand your needs and multiple compare plans you can choose the right policy. There are trusted platforms that clearly explain policy features and help you buy insurance online. Further, exploring insurance on PolicyWings can be very helpful. Conclusion All these myths we discussed around life insurance usually come from a lack of clarity. Looking for a reliable life insurance term plan or a policy that can also give savings benefits? It has to be in line with your financial goals and responsibilities. Learn, don’t assume. For help in choosing the best protection for you, refer to experts like PolicyWings.

Introduction It might have happened to you or somebody you know that for years you had your mediclaim insurance policy and you were also paying regular premiums. Once time you made a claim and found out that certain benefits had lapsed. So frustrating, isn’t it? This is why it’s highly recommended that when you renew your mediclaim insurance, you must also make sure your coverage will continue to fit your needs. It’s super important to review your policy at the time of renewal, especially because medical costs are increasing. Let’s discuss what all do you need to check before renewing your mediclaim insurance in India so that you don’t miss changes in coverage or lose important benefits. What Makes Renewal So Important? Life is never the same. Sometimes situations change, sometimes lifestyle. You could develop a new illness, there could be an increase in medical prices or maybe the needs of your family grow than before. You must never renew your policy without reviewing it. When you pay attention at that time, you ensure having the right coverage when you actually need it. You can’t do much once you have bought the policy but renewals offer you a chance to: Upgrade coverage and match it with the rising medical costs. Add new riders or benefits to the policy that were not there before. Always renew on time so that waiting periods don’t restart. Protect your coverage by staying regular with your payments. After all, a careful renewal is a guarantee that your mediclaim insurance policy grows with your changing needs. What to Check Before Renewing Your Mediclaim Policy? Renewing your mediclaim insurance policy doesn’t just mean paying the premium on time but ensuring your coverage is enough for you when required. Let’s see what you should definitely check at the time of policy renewal: Coverage Amount (Sum Insured) In India, medical costs are rising every year and this is a point of concern. The insured amount you chose a few years ago is most possibly not enough today, especially if you’re in a metro city. Check if you need to increase the coverage while you are renewing. Waiting Periods for Pre-Existing Diseases When you keep renewing the policy, the waiting period for pre-existing conditions also keeps reducing and it’s a big benefit. At the time of payment, confirm whether the mediclaim insurance policy cover those diseases now. Room Rent Limit and Hospital Network Room rent limits or hospital tie-ups might be small factors but can affect your claim big time. If you want a private room but your policy allows only a shared room, you may have to pay yourself. It should also be checked if your preferred hospitals are a part of the insurer’s network. New Riders or Add-On Benefits Many insurers introduce new features for the convenience and benefits of the policyholders. People can always opt for the extras like critical illness riders, maternity cover etc. Of course, renewal time is the best to add these riders to your mediclaim insurance. Premium vs. Benefits The premium you’re paying should ideally justify the benefits you’re getting. It’s possible that there’s another plan from the same insurer or a different one that offers better coverage at a similar cost. At renewal, you upgrade your policy and it continues the same. No-Claim Bonus (NCB) Your insurer should also offer a no-claim bonus. Basically, many insurance companies increase your coverage amount for the year you don’t make a claim. Do keep this benefit in mind while renewing. Exclusions and Policy Updates Insurance companies also keep updating their terms. Every time you renew, go through the fine print to check what’s not included this year. It could be procedures like cosmetic surgeries or certain advanced treatments, so stay alert and informed. Grace Period for Renewal Renewal of mediclaim insurance in India has to be done before the due date. While insurance companies normally provide a grace period of 15–30 days for payments, you can’t make claims during this period. Also, missed renewal means waiting periods would restart and all the previous time has been wasted. Mistakes People Make During Renewal Renewing a mediclaim insurance policy isn’t limited to continuing the same plan. There are mistakes that so many people unknowingly make that either affect their coverage or claims. Just beware of these catches for a wise renewal: Not updating health details– Don’t forget to inform your insurer if you’ve developed a new illness or undergone surgery because hiding details can lead to your claim being rejected. Missing the due date– A late renewal means you will missout on your No Claim Bonus (NCB) and even a policy lapse. Ignoring changes in coverage– Sometimes insurance company change their terms, add new rider options or modify coverage so go through the fine print. Accepting higher premiums blindly– Many people pick up the first policy they see. Not comparing alternatives, they end up paying more. How to Save on Your Mediclaim Insurance? Time for renewal? It’s the perfect chance to make your mediclaim insurance in India more cost-effective while holding on to the benefits. All you need is a little planning for a reduced premium and improved coverage. Consider portability– If you find that another insurer is offering better benefits at the same cost, you can switch to it. Your continuity benefits will remain the same. Opt for long-term policies– Many insurers will also offer you discounts if you straightaway buy a 2–3 year mediclaim policy instead of renewing it every year. Adjust deductibles wisely– If your employer already provides health cover, choose a bigger deductible on your mediclaim to lower your premium. Compare online before renewal– You can also benefit from the market competition. You must check different plans so you can get the best value for your money. The Rising Need for Mediclaim Insurance in India The costs of healthcare in India are skyrocketing and there are hardly any signs of slowing down. Treatments for critical conditions like cancer,

Introduction In today’s world, where healthcare expenses are skyrocketing, a mediclaim policy offers a sense of financial security. However, many people treat the renewal of their health insurance policy as a mere formality, paying the premium without a second thought. That’s a mistake. Renewal time is your annual opportunity to reassess your policy and ensure it still meets your current and future needs. Whether it’s reviewing the coverage, analyzing your claim history, or understanding new terms, taking time to carefully review your mediclaim policy before renewing is essential. Heres everything you should check before renewing your mediclaim policy to ensure you and your family are adequately protected. 1. Evaluate Your Changing Health Needs The first thing you must do before renewing your mediclaim policy is to re-evaluate your current health status and medical history. Over the past year, have you or your family members developed any new health conditions? Has there been a significant medical expense that wasn’t covered under your current plan? If the policy was originally purchased when you were younger or single, your needs might have changed since, perhaps you’ve married, had a child, or now care for elderly parents. Renewal is the time to modify your policy to reflect these life changes. Most insurers allow you to add new family members or adjust coverage during the renewal window. If yours doesn’t, it might be time to explore porting the policy. 2. Is Your Sum Insured Enough? Factor in Inflation With healthcare inflation in India rising between 8-14% annually, a sum insured that felt adequate three years ago may now be insufficient. A ₹3–5 lakh cover might not offer enough financial security, especially for treatments like hospitalisation for cardiac issues, surgeries, or even prolonged COVID-19 care. At the time of renewal, review your sum insured and evaluate whether it needs enhancement. You can also explore top-up or super top-up policies which come at a relatively lower premium but offer significantly higher coverage once your base policy is exhausted. These are particularly helpful if you’re crossing into your 30s or 40s and want to secure against future ailments. 3. Understand the Waiting Period Implications Most mediclaim policies come with a waiting period for pre-existing diseases (PEDs), which is typically between 2 to 4 years. The advantage of continuing the same policy with the same insurer is that your waiting period clock keeps ticking, and eventually, all PEDs become claimable. However, if you are thinking of porting your policy to another insurer (perhaps for better coverage or service), check if your new insurer is willing to reduce or waive the waiting period based on your existing coverage. You must get written confirmation of the remaining waiting period if you are porting, as this can impact claim eligibility in the future. 4. Analyze the Past Year’s Claim History A careful look at your past year’s claim history can tell you a lot. Were your claims processed smoothly? Were there unnecessary delays, partial rejections, or excessive deductions? If yes, it’s time to evaluate whether the claim settlement ratio and customer service of your insurer are satisfactory. If you made no claims, check if your policy offers a No Claim Bonus (NCB). Some policies increase your sum insured at no extra cost for every claim-free year, while others may offer a discount on renewal premium. Understand how your policy handles NCB, as it can significantly affect long-term value. 5. Check Network Hospitals and Cashless Coverage Before you renew, check whether your preferred hospitals are still part of your insurer’s cashless network. This is a crucial step many policyholders forget. Having to pay out of pocket during an emergency defeats the purpose of having insurance. Use your insurer’s website or mobile app to see the updated list of network hospitals. If you’re living in a tier-2 or tier-3 city, confirm that there are quality hospitals nearby that support cashless treatments. Also, check if your insurer has made any changes to tie-ups with multi-speciality or corporate hospitals, as this can directly affect your access to medical care. 6. Read the Updated Policy Terms and Exclusions Policyholders often make the mistake of assuming that once bought, the policy terms remain fixed forever. That’s not always the case. At the time of renewal, insurers might update terms and conditions, especially around exclusions, co-payments, or sub-limits. Sub-limits are caps placed on specific treatments or room rent categories. For example, a policy might restrict ICU charges to 2% of the sum insured per day. Similarly, a co-pay clause might require you to bear 10–20% of the hospital bill. These terms can significantly affect your out-of-pocket expense during hospitalization. Always go through the renewal brochure or contact customer service to understand changes in exclusions or clauses before you pay the premium. 7. Watch Out for Premium Hikes and Compare Plans Has your premium gone up this year without a change in coverage? It’s common for premiums to increase with age, but if the hike seems unreasonable, it’s worth shopping around. Use online platforms like PolicyBazaar, Coverfox, or InsuranceDekho to compare similar plans in the market. You might find better coverage at a lower price or even policies that offer lifetime renewability, higher sum insured, fewer sub-limits, or better NCB benefits. The good news is that IRDAI regulations allow policyholders to port health insurance at the time of renewal without losing waiting period credits or accumulated benefits — provided you do so at least 45 days before renewal. 8. Don’t Forget Tax Benefits Under Section 80D Your mediclaim premium is eligible for deduction under Section 80D of the Income Tax Act. You can claim up to ₹25,000 for yourself and family, and an additional ₹25,000 (₹50,000 if parents are senior citizens) for insuring your parents. At renewal, make sure your insurer sends a premium payment certificate that clearly states your name, PAN, and the payment details. This document is essential for claiming deductions at the time of tax filing. 9. Assess Digital Services and Customer Experience Lastly, a good

Introduction Accidents can happen to anyone, anytime and even to the most careful drivers. It could be a small scratch or a major car crash; it is not hard to deal with it. But in such times, having third party liability insurance helps big time. However, many people aren’t sure of how exactly to make a claim, what to do and what to avoid. If you are also on the same boat, don’t worry! This quick guide will tell you what third party insurance covers and how you can file a claim after an accident. What is Third-Party Insurance? Before we discuss the claim process, let’s understand what it is. Basically, third party insurance is a compulsory form of motor insurance in India and all drivers need to have it. If at all your vehicle causes damage to another person, their vehicle or property, this plan will be your financial protection. Here, the “third party” is anyone who is affected by your vehicle in an accident, except you or your insurance company. Your third party liability insurance policy will pay for: Injury or death of another person because of your vehicle. Damage to the property of third-party like a car, scooter, wall, fence etc However, you must know and remember that insurance for third party liability will never cover any damages to your own vehicle or injuries that are caused to you. If you want complete coverage, a comprehensive policy is what you need When Can You Claim Third-Party Insurance? A third party insurance claim can be made in these situations: If physical injury or death is caused to another person in an accident. If your vehicle has caused damage to someone else’s property or vehicle. For example, if your car hits another vehicle, then your third party liability insurance will cover the repair cost. Or maybe for covering medical or legal compensation if a pedestrian gets injured. Step-by-Step Process to Claim Third-Party Insurance You need to follow a few steps for filing a third party liability insurance policy claim. Let’s go through them: Step 1: Inform Your Insurance Company Immediately Without wasting any time, the first thing you should do after an accident is inform your insurance company. This better be done within 24 hours because delays might weaken your claim. You can go to their helpline or mobile app and quickly report the accident. Provide them with important details like: Date, time and accident location Describe exactly what happened Inform about the vehicles and people that were involved Step 2: File an FIR at the Nearest Police Station Go right away to file an FIR (First Information Report), especially if there’s an injury, death or major damage to property, because without it, your third party insurance claim might be rejected. Reach the nearest police station and explain what happened in detail. Don’t miss mentioning all vehicles and people involved. Do keep a copy of the FIR to be used during the insurance claim. Step 3: Collect Evidence from the Accident Site Having proper evidence makes your claim stronger. All these details will help your insurer to evaluate the whole situation and process your claim faster: Take photos or record videos of the damaged vehicle and the overall accident scene. Note the registration number of the vehicle, details of the driver’s license and even contact information of the witness, if there are any. Step 4: Register the Case with the Motor Accident Claims Tribunal (MACT) Basically, the insurer doesn’t directly settle the third party liability insurance. It’s handled through the Motor Accident Claims Tribunal (MACT). This is a legal body that ensures that both the vehicle owner and the affected party are treated with fairness. Here’s how it works: The affected third party files a claim with MACT. MACT reviews the case from both parties and decides the compensation amount. Your insurer then pays you as per the tribunal’s decision. Step 5: Submit the Required Documents You will need to submit certain documents to process your insurance for third party liability claim. Have these documents ready to avoid settlement delays: Copy of your insurance policy FIR Copy Driving licence of the person who was driving Vehicle’s registration Certificate (RC) Photos of the damaged vehicles and the accident area Any notice from court or MACT (if applicable) Step 6: Cooperate During the Investigation Your insurance company may also appoint an investigator on the case. They will inspect the damages and verify the details of the incident. Here, you need to give your full cooperation. Provide them with honest information and access to your vehicle. This keeps the process transparent and helps your insurer smoothly settle the claim. Step 7: Tribunal Decision and Claim Settlement Once the MACT reviews all details, the compensation amount to be paid is decided. After that, your third party liability insurance policy will cover this compensation. The amount will be paid directly to the third party and not to you. Checklist of Documents Required for Third-Party Insurance Claims Make sure you don’t miss anything from the following: Copy of third party insurance policy Copy of FIR Driving licence RC of the Vehicle Photos of the Vehicle Witness statements (if any) MACT forms and legal notice (if they are issued) In fact, you’d better keep both digital and printed copies for convenience and last minute requirements. Common Mistakes to be Avoided When Filing a Claim Even a small error can lead to the rejection of your claim and there are many such cases. Be careful and avoid these common mistakes: Not informing the insurer ASAP. Skipping filing the FIR. Providing incorrect details or false statements. Failing to collect proper evidence at the accident spot. Trying to settle privately and not involving the insurer. How Long Does It Take to Settle a Third-Party Claim? We just learned that insurance for third party liability claims have to be processed through the MACT proceedings. This is the reason that they tend to take a bit