Big tensions over health insurance among Corona averted! The government took this decision on premium.
In addition, Corona-related products will also need to be sold to all insurance companies, both online and offline, as many companies have stopped selling Corona products online due to growing claims.
New Delhi: Amidst the Corona epidemic, good news is coming. According to sources, the premium of your health insurance policy will not increase this year. Insurance regulator IRDAI has strongly instructed the general insurance company that insurance companies will not raise premiums this year due to the epidemic.
No increase in health insurance premium?
This means that if your policy is renewed this year and you want to buy a new policy, you will not be burdened with more premium.Although the Corona epidemic has led to a sharp rise in health insurance claims and pressure on the company to raise premiums, sources say the central government and IRDAI have categorically refused to raise premiums and have asked the insurance company to bear losses as in other sectors or later. Health insurance compensates for losses through its own profit segments.
It will be necessary to sell health products online, offline
In addition, Corona-related products will have to be sold to all insurers, both online and offline, as many companies have stopped selling Corona products online due to rising claims and are no longer interested in selling Corona products. Sales information must be shared with regulator IRDAI.
There is also a huge increase in insurance company claims
As the number of patients in the second wave of Corona has increased, so has the claim of the insurance company. Total covid claims across the country have reached Rs 25,000 crore. In the last two weeks alone, the insurance industry has received claims worth Rs 700 crore. So far the average payment is 1 lakh 54 thousand rupees and the average payment is 96,521 thousand. Covid claims across the country account for only 68 per cent of patients and the remaining 32 patients have to pay out of pocket.
More than 1.5 million Kovid claims were received
According to the General Insurance Council (GIC), as on May 20, insurance companies have received 15.32 lakh Kovid claims. Its total value is Rs 23,715. 12.59 lakh claims worth Rs 12,133 crore have been settled. As many as 1.13 lakh patients with claims have been treated so far, while 22,461 have died. The remaining 13.19 lakh had been discharged. Insurance companies say the average claim size of Kovid patients has dropped to Rs 95,000 from Rs 1.15 lakh earlier.
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