Divya Gandhi, head of general insurance at Emkay Insurance Brokers, recounts two cases where a personal accident (PA) claim was denied. In one, the policy holder, who had a limp, had an accident and fell down.
Customers might soon see specific general insurance products suited to their profession, income-bracket, age and need, if the recommendations of the Working Group on File & Use guidelines for the non-life sector is accepted by the Insurance
A contract of insurance requires both the parties to maintain utmost good faith. Once a policy is issued, the terms and conditions cannot be varied, unless such variation is expressly consented to by the insured.
Most salaried employees who are covered by their employers' group health insurance schemes put off buying personal health covers till they are close to retirement. Some may buy it only after retirement.