Category: Probus In News

The Consumer Redressal Commission has fined an insurance company Rs 1,57,000 for rejecting a claim because they considered menstruation as a disease. The amount consists of the sum assured, compensation, and legal costs. A person named Subramaniam has maintained a health insurance policy in his wife’s name since 2020. His wife was admitted to a private… Continue reading Consumer Panel Slams Insurer For Treating Menstruation As A Disease

Picture this. Say you already have a life insurance policy (A). You buy another life insurance plan (B) without disclosing to them that you are already covered under plan A. In one of its recent verdicts, the Supreme Court of India ruled that this could be valid grounds for the issuer of your policy B… Continue reading Your life insurance claim may be rejected if you take a new plan without declaring the ones you already have, says SC

Probus, one of India’s leading insurtech companies, has launched ‘Second Innings – Stories of Resilience,’ a compelling podcast series that explores the financial struggles of accomplished individuals and their journey to stability. The series brings to light the often-overlooked financial challenges behind success stories, offering listeners both insight and inspiration. The debut episode features international… Continue reading Probus Launches ‘Second Innings’ Podcast, Showcasing Parag Patil’s Inspiring Journey

Opting for an outpatient department (OPD) rider can help reduce out-of-pocket expenses such as doctor’s fees, diagnostic costs and pharmacy. While a standard health insurance covers inpatient expenses, adding a rider is a flexible and cost-effective way to enhance the coverage for individuals with chronic conditions who require frequent medical attention. In metros, the average cost of OPD services… Continue reading OPD rider enhances your annual health cover

Like in every sphere of life, AI is now being widely used in insurance. AI has brought a significant revolution in the insurance industry, especially underwriting, by enhancing accuracy, efficiency, and speed.  “Furthermore, with an AI-driven underwriting process, it is now possible to detect frauds using ML algorithms, personalize pricing based on an individual’s risk profile,… Continue reading How AI Underwriting Can Make Insurance More Cost-Effective And Inclusive

Government as well as semi-government employees can opt for postal life insurance (PLI).  There are several options to choose from. Whole Life Assurance (Suraksha): This policy offers life-long coverage and a lump sum amount upon surrender or maturity. This provides a sum assured with an accrued bonus either when the insured dies or reaches the age of 80. The minimum sum… Continue reading Postal Life Insurance: A Secure, Low-Cost Option With High Bonus Rates

Flexible health insurance plans have seen an upsurge of almost 300 per cent in the last five years in India, according to a report by Mercer Marsh Benefits (MMB). In the last couple of years, health insurance plans have become extremely modular. This means that customers can now customize their plans according to their requirements.… Continue reading Customized Health Insurance: Flexible Health Plans For Your Specific Needs

Insurers are now suggesting a CIBIL-like system in the industry, according to media reports. First, we need to understand what a credit score is in brief, and how it helps financial companies. The credit score provides individuals with credit history and financial behaviour. The higher the credit score, the better the individual’s creditworthiness. In fact, a high… Continue reading Insurers Are Now Suggesting A CIBIL-Like System In The Industry. What This Can Mean For The Policyholders

लाइफ में कब क्या हो जाए कुछ पता नहीं होता है। ऐसे में फाइनेंशियल एक्सपर्ट लाइफ इंश्योरेंस (Life Insurance) लेने की सलाह देते हैं। लाइफ इंश्योरेंस केवल खुद के लिए ही नहीं बल्कि परिवार की सिक्योरिटी के लिए बहुत जरूरी होता है। हम सेविंग या इन्वेस्टमेंट शादी, पढ़ाई, घर खरीदने के लिए करते हैं पर… Continue reading Life Insurance नहीं लेने के नुकसान – क्‍या हैं अनजाने जोखिम

Whole life insurance is a type of insurance that provides you coverage for your entire life. A portion of the premiums is built into a cash value which grows and is guaranteed. On the death of the policyholder, the beneficiaries get a guaranteed death benefit. Premiums need to be paid for the entire lifetime of… Continue reading Whole Life Insurance: Why It May Not Be A Good Idea