Category: Probus In News

The claims ratio for the non-life insurers stands at 82.52 per cent, according to the Insurance Regulatory and Development Authority of India’s (Irdai) report for 2023-2024. This shows that around 17.48 per cent of claims remained unpaid during that fiscal year.  Here are the reasons why a number of non-insurance claims remain unsettled despite regulatory oversight: … Continue reading Non-Life Insurance Woes: Why Many Claims Still Go Unpaid

Anyone with a child, a spouse, a life partner, or a parent as a dependent needs life insurance. Purchasing a life insurance product has recently become an online business. The percentage of customers purchasing an online insurance product is considerably higher compared to what it was 10 years ago. Consider a prospective customer visiting an… Continue reading How AI-Powered Online Platforms Are Revolutionizing Life Insurance Recommendations

Care Health Insurance has temporarily stopped servicing cashless claim settlements across all 12 Max hospitals across Delhi-NCR effective February 17, 2025. This includes 8 super-specialty hospitals, 2 multi-specialty centers, one hospital in Gurgaon, and one cancer care center in Lajpat Nagar, Delhi. However, Max Healthcare has clarified that the hospital chain stopped the cashless services… Continue reading No cashless claim in Max Hospitals in Delhi NCR for policyholders of CARE Health Insurance

According to a recent news report, an elderly woman’s trip to visit her family in Canada turned into a nightmare when her insurance provider denied her a claim for a medical bill of Rs 82 lakh! They rejected it on the ground that she had a pre-existing disease (PED). However, the family said that they were unaware of any such previous heart issues. Faced with circumstances like this, what can you do?… Continue reading Health Insurance Claim Denied? Here’s How Seniors Can Get The Right Help

Let us say that a doctor is sued for misdiagnosis. Professional indemnity cover provides compensation against any legal fees or compensation.  Professional indemnity insurance is a type of insurance plan that provides coverage to professionals (those who offer professional services or advice) such as engineers, doctors, lawyers, accountants, consultants, architects, etc. It protects them from any… Continue reading What Is Professional Indemnity Cover And Do You Need It?

As FY 2024-2025 is nearing an end, it’s important for the policyholders to understand and explore different ways to optimise their tax liabilities beyond section 80C of the Income Tax Act when opting old tax regime. While most taxpayers are aware of the tax benefits associated with section 80C, many of them might have still… Continue reading Think beyond 80C: How insurance can help optimise your tax liabilities while opting old tax regime

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