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Tag: benefit

  • RenewBuy launches custom-made medical insurance plan. Know the small print

    RenewBuy has launched its first line of custom-made medical insurance product, RenewBuy Health Wellness plan with a concentrate on the massive uninsured phase past the tier 1 markets.

    The medical insurance product is among the most versatile and customizable insurance policies provided within the trade at this time, the corporate stated. Available in three variants– Gold Plan, Silver Plan, Wellness Plan– the product has new-age medical insurance advantages, starting from a protection of ₹2-5 lakhs.

    Up to 70% decrease premiums are provided for senior residents, and as much as 50% decrease premium for individuals until 59 years, maternity cowl with considerably low ready interval. The plans additionally supply OPD advantages, limitless physician on telephone consultations, free lab checks, heavy concession for offline OPD consultations, fashionable remedy beneath very low sum insured, no room lease capping, together with an array of different advantages (beneath sure T&C). The plans don’t require any medical underwriting; moreover, in addition they supply wellness advantages, which is want of the hour for at this time’s customers, stated the agency.

    Most insurance coverage merchandise supply monetary safety for hospitalization and post-hospitalization. However, common physician visits, lab checks and medication payments can closely influence one’s financial savings in at this time’s date; the quantity may even go upto 20% of 1’s wage. An in-depth analysis staff had been set-up, particularly for the mission to garner knowledge insights, on what sort of merchandise may also help resolve insurance coverage points within the Tier 3 markets and past.

    Today’s customers search for OPD advantages, covers for lab checks and medicine, custom-made premium charges; and this goes very true for customers within the smallest markets. The buying energy in smaller cities is vastly completely different from metro cities. Thus, RenewBuy’s Health Wellness plan goals to bridge that hole and has launched a bunch of advantages in pre-hospitalization and OPD remedies with the newly launched product.

    Balachander Sekhar, CEO, RenewBuy stated, “Insurance is witnessing a fast-changing momentum within the final two-three years; be it with the altering client conduct or rising dangers throughout well being, life, atmosphere, knowledge safety. Thus, as a sector, we have to adapt quick, and newer merchandise have to be developed to maintain upto the quick motion.”

    “Our first line of medical insurance merchandise has been developed, utilizing micro client conduct knowledge and understanding market wants. RenewBuy believes in listening to its insurance coverage advisors and prospects, to create extra for them. We have a panel of 1000 of our insurance coverage advisors, primarily from smaller cities and cities from whom now we have understood, the actual want for the mass market when it comes to insurance coverage merchandise. Keeping these in thoughts, we got down to create the best product that’s straightforward to know; 30 p.c cheaper than the standard plans and everlasting resolution to non-hospital prices,” Balachander added.

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  • 1.2 mn Kerala college students in 2,000 faculties to profit from 9,000 robotic labs

    Thiruvananthapuram, Nov 26: For the primary time in India, Kerala Infrastructure and Technology for Education (KITE), the Edtech arm of the state authorities, is organising robotic labs in 2000 High Schools from December 2022, which can profit 1.2 million faculty kids.

    V. Sivankutty, Minister for General Education, on Saturday mentioned it will facilitate revolutionary methods for growing the information abilities of scholars by means of enjoyable studying and the inauguration of 9000 Robotic Labs by means of Little KITEs-the largest ICT Network of scholars in India, could be carried out by Chief Minister Pinarayi Vijayan on December 8, right here.

    Robotics is a vital coaching element below the Little KITES programme, by means of which college students in public faculties would get a possibility to get hands-on coaching within the newest applied sciences areas similar to robotics, IoT, synthetic intelligence. Moreover, the programming coaching as a part of this might assist in the enhancement of artistic pondering and problem-solving skill of scholars, which might assist them within the studying of all topics, added the coed chief turned Minister.

    Okay. Anvar Sadath, Chief Executive Officer of KITE mentioned every Robotic Kit deployed to high school contains of Arduino Uno Rev3, LEDs, SG90 Mini Servo Motor, LDR Light Sensor Module, IR Sensor Module, Active Buzzer Module, Push Button, Bread Button, Jumper wires and Resistors.

    KITE will present additional assist to varsities to supply further spares, if required, from the native market by utilizing the funds supplied for Little KITEs models, mentioned Sadath.

    In addition to the deployment of Robotic Kits in faculties, 4000 KITE Masters would even be educated utilizing a selected coaching module on methods to use this tools in faculties.

    Using these KITE Masters, KITE is imparting coaching on to 60,000 college students. The Little KITES members thus educated, would in flip practice different college students which might straight profit over 12 lakh college students by means of this initiative.

    Students may also be educated in numerous actions, together with growth of Traffic Signal, Automatic Street gentle activated by means of gentle sensing, Electronic Dios, Automatic Door, Security Alarm.

    Among the opposite coaching that might be imparted could be on Electronic Voting machine, Audio managed Home Automation (IoT), Walking stick for Visually challenged.

    Further, creation of pc video games utilizing Scratch, growth of cellular apps utilizing aApp Inventor’ by famend Massachusetts Institute of Technology (MIT), Artificial Intelligence based mostly actions are additionally educated for college kids as a part of this programme.

    1.2 mn Kerala college students in 2,000 faculties to profit from 9,000 robotic labs IANS 27 November 2022 Post Your Comments

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  • Sub-limits on medical insurance could make your coverage advantages insignificant

    Take the case of Hanu Shukla, a Lucknow-based advertising government, who purchased a well being coverage with maternity profit cowl with sum insured of ₹10 lakh round 5 years in the past. He had even paid a premium of ₹61,000 ( ₹12,200 each year) thereafter. But, after his spouse Neeshu Tripathi was admitted to a hospital for the supply of their first baby, Shukla discovered that he was solely eligible for a reimbursement of ₹50,000 in direction of maternity advantages. The coverage had a sub-limit on the general sum insured for maternity advantages. There are many subscribers like Shukla who’re unaware of the sub-limits and have needed to shell out cash for therapy prices when their insurance coverage claims transcend the sub-limits.

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    Sub-limits in well being cowl

    “Several insurers typically impose a compulsory co-payment and sub-limits clause on the well being cowl whenever you purchase a coverage to scale back the premium. While this may increasingly cut back your premium to some extent, it’s going to price you dearly whenever you file a declare,” said Venkatesh Naidu, CEO of Bajaj Capital Insurance Broking Ltd.

    Sub-limit: This is the term used by insurers for a monetary limit on expenses for disease/illness treatment, room rent, post-hospitalisation, and pre-planned medical procedures. In such a case, the insurer will only cover costs up to a specific limit; the policyholder must cover expenses above that limit.

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    (Mint)

    Do note that sub-limits can vary, depending on the policy and the insurer. It could be a percentage of the total amount insured or up to a certain amount specified by the insurer. For instance, ICU fees and hospital room rent are generally capped at 2% and 1%, respectively, of the total sum assured.

    Biresh Giri, executive vice president and appointed actuary at ACKO insurance, said, “Typically, in health policies, non-medical expenses (consumables) are not covered but this often makes up about 15-20% of the medical bill. Besides, the capping on room rental cost is generally at around 2% of the sum insured. So, subscribers need to check whether the insurer covers non-medical expenses in their policy term. If the policyholder exceeds the insurance coverage, they must bear the difference from their pocket.”

    Higher sub-limits: There are insurance coverage covers with larger sub-limits, relying on the particular therapy pertaining to cataract surgical procedure, knee substitute surgical procedure, maternity, and so forth. “The bills for cataract surgical procedure are often capped at ₹24,000 and that for maternity and oral chemotherapy at ₹50,000,“ stated Yashendra Sharma, head-employee advantages at Alliance Insurance Brokers.

    However, hospitals can invoice you as much as ₹1.5 lakh for cataract surgical procedure or maternity admissions, which suggests you may need to bear greater than two-thirds of the price out of your pocket.

    Regulatory norms: The Insurance Regulatory and Development Authority of India (Irdai) has not issued any particular laws for sub-limits in a well being coverage. Also, not all medical insurance insurance policies include a sub-limitclause. A couple of insurers impose sub-limits, whereas some others cost a substantial premium to take away the boundaries. Sharma stated the choices on sub-limits are primarily taken by insurers. “Irdai, nevertheless, has requested insurers to pay for some listed procedures that hadn’t been coated earlier within the well being coverage,” added Sharma.

    Why sub-limits? “One of the main goals of sub-limits is to help insurers decrease their overall claims while underwriting health policies. Secondly, it also decreases their liability limit and the payments to be made to the policyholders,” stated Sharma.

    Ankit Agrawal, CEO and co-founder of InsuranceDekho.com, stated, “Sub-limits are fastened by medical insurance suppliers to scale back the probabilities of false claims filed by the policyholders and to make sure honest utilization of the protection offered.”

    While insurers evaluate such parameters to impose sub-limits on the treatment cost of several surgeries, you must know that policies with sub-limits bought for planned surgeries may not be advantageous at any cost.

    For instance, some policies may not benefit newly married couples because they have a four-year waiting period to cover maternity care and allow expenses up to a maximum of ₹ 50,000 per policy, subject to terms and conditions.

    So, if you buy a policy with ₹10 lakh sum insured, you will roughly have to pay a premium of ₹50,000 (including taxes) by the time your policy’s waiting period gets over. Moreover, the policy will not be applicable in case you get hospitalized for childbirth within four years of the waiting period.

    Mint take: You should choose a health policy by comparing different policies online or take an advisor’s help to select one. You must avoid buying a health policy with specific procedure sub-limits.

    Before purchasing a health insurance policy, you should carefully study the policy paperwork and consider various factors, including co-payment choices (where you must pay a predetermined portion of the claim amount) and the list of exclusions. It would help if you also familiarize yourself with the alternatives for “limits,” “deductible,” and “co-pay” in your medical insurance coverage.

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  • Apple to launch its online store in India on September 23, users will get benefit

    It has been discussed for a long time that Apple is planning to open its online store in the Indian market. At the same time, there is a good news from Indian users that the company has announced to open an online store on September 23, after which users will be able to buy the device directly from the company’s store instead of a third party. Whereas, Apple devices in India have to be purchased from third party retailer stores and online websites such as Amazon and Flipkart. 

    But now Apple has officially announced that the online store will be launched on 23 September in India. Which will make all Apple products available to customers across the country for the first time. The new online store will provide customers with the same premium experience found in Apple stores around the world, offered by online team members.

    Customers will not only be able to purchase all Apple products on the online store, but they will also have access to Apple Specialists, who can guide users during the purchase of a product. Customers will be able to get guidance directly from Apple, which includes online support in English and phone support in Hindi and English. That is, if you use online support, then you will get all the information in English language. While on a phone call you can get guidance in both English and Hindi languages.