close

November 2021

News

Benefits of Organ Transplant Feature in Health Insurance Policies

Since the dawn of the 20th century, health care has seen an exponential growth. The rate at which the medical field continues to grow increases with each passing year. At this point, medical science has advanced enough for patients to get their organs replaced by newer and healthier ones. However, with newer technologies and practices the cost of healthcare gets even higher than before. The same applies to organ transplants. Moreover, until very recently, most insurance companies did not cover the expenses that are involved in organ transplants like harvesting screening etc. At the same time, India has experienced a sharp rise in the instances of organ transplants.

However, health insurance has seen a lot of change in this regard and is still gradually evolving to make organ transplants much easier. Many insurance providers in India are taking an initiative to create insurance products that have a provision for organ transplant support.

Health insurance coverage for organ donation and transplant in India

A case of organ transplant is a sign when critical illness insurance comes handy. Organ transplant requires two major things. The first is an organ donor and the second is an organ receiver. Hence, these are the two primary concerns that health insurance needs to address. Health insurance coverage is valid for diagnosed conditions, procedures, surgeries, and other treatments that require hospitalization. So, if you are an organ receiver, health insurance makes it absolutely clear that their coverage will include payment for tests and procedures that are involved in the transplanting of the organ. Moreover, the coverage will only be up to the limit of the sum insured. * Standard T&C Apply

However, other expenses that are connected to organ donation will not be included in the policy. These expenses will have to be covered by the organ receiver out of their own pocket. There are some insurance companies that cover those expenses as well. But, getting that coverage included in your policy will make the premium higher.

Expenses associated with the organ donor

There are 6 main types of medical expenses that have to be covered in regard to the organ donor. These expenses include:

  • Organ screening to check whether the organ donor is compatible with the organ receiver. This includes the donor’s blood group and overall physical well-being.
  • Pre-hospitalization costs need to be covered after the donor has been finalized. Organ donor might have to take certain medication, treatment, etc. before they can be hospitalized for organ donation.
  • Hospitalization costs for the organ donor’s admission and stays in the hospital. This includes the cost of the room, nursing expenses, doctor consultations, etc.
  • Cost for the organ transplantation surgery is the main cost of the entire procedure. This includes the cost of harvesting the organ, transplanting it into the recipient, fees of the surgeon, etc.
  • Post-surgery complications are also a cost associated with the process. This can include costs like recovery, adapting the body after the loss of an organ, etc.
  • Post-hospitalization costs are the final piece of expense that is required. This includes medication for the donor, follow-up consultations with the doctor.

* Standard T&C Apply

Out of all the costs mentioned above, the only costs that are not covered under health insurance are pre-hospitalization, post-hospitalization costs of the donor, and post-surgery complication expenses. Even some companies that do offer these coverages place a sublimit or restriction on the money that can be spent on it.

These are some benefits as to how health insurance comes handy when an organ replacement is required. When buying, make sure that you purchase a cashless health insurance for a hassle-free claim experience. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

read more
Automotive

Selecting a Suitable Car Insurance Cover Made Easy

Car insurance is a legal mandate in India. Having an insurance cover for your car is essential to drive it legally. However, selecting a policy among the plethora of alternatives can not just be daunting, but also confusing to many.

Reasons like a variety of plans, different features, varied coverages offered are few that make it increasingly difficult to pick the right car insurance cover. In this process you can take help of tools like a car insurance calculator that not just compares based of premium, but also the features. This article enlists how can you select a suitable insurance cover making it easy for you to zero down on one.

Selecting a car insurance starts with deciding on the type of insurance coverage you want—a third-party cover or a comprehensive cover. Third party car insurance plans, also known as liability-only policies, are those which provide insurance coverage against legal liabilities that may arise due to an accident. Such accidents may result in either property damage or injury to a third person, both of which attract legal consequences. Thus, safeguarding you in case of such incidents. For these reasons mentioned above, a third-party policy is the one that is a minimum requirement as per the law.

On the other hand, a comprehensive policy is an alternative to third-party plans. This insurance cover provides protection not just from third-party legal liabilities, but also various damages to your car. These damages may be caused due to an accident or as a result of other natural and man-made perils. Hence, a comprehensive plan must be preferred for the broader coverage it offers.

Other than deciding on the type of insurance policy, the factors mentioned below can be used to select a suitable insurance plan:

  • Customer Support

The support that your insurance company provides is essential to be checked before you avail a coverage. This will help to lodge a claim round the clock, if need be. Most insurers provide all-day facility to lodge claims and some even have the claim facility via their mobile application. * Standard T&C Apply

  • Cashless garage network

Another feature to look at when you buy car insurance online or offline is the cashless garage network. This network is a chain of service garages that are associated with the insurance company that can help you avail the cashless repair facility. As the name suggests, you need not pay for the cost of repairs upfront, but instead, the insurance company pays for it to the service garage. * Standard T&C Apply

  • Claim Settlement ratio

Claim settlement ratio is the proportion of claims that are settled in comparison to the total claim applications received by the employer. The higher this ratio, the higher is the probability that a valid claim is honoured by the insurer. Thus, policies must be bought considering the claim settlement record of the insurer. * Standard T&C Apply

  • Customisability of insurance coverage

Do not forget to review if your car insurance policy is customisable. Customisation benefits by helping you choose the exact coverage that you need thereby fulfilling all your insurance requirements. * Standard T&C Apply

These are some of the crucial pointers that can help to choose the right insurance coverage, be it for a first-time buyer or not. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

read more
Business

Mark Roemer Oakland Shares the Benefits of Hiring Busing Development Consultants

Introduction

Mark Roemer Oakland believes that hiring business development consultants have become an essential factor in every business culture. Therefore, every business owner has started hiring business development consultants to get an external viewpoint and shape their business accordingly. The benefits of hiring business development consultants are mentioned below:

The Benefits

  1. Focussing on the core business capacities- No matter what your business is, business development consultants can help you focus on the core business capacities. You may often feel frustrated while sorting out the information needed for your business; in such cases, a consultant can help you with the required information. A business development consultant ensures that you focus only on the area of concern without wasting time dealing with unnecessary information.
  1. Getting help from the experts- When hiring a business development consultant, you are getting in touch with an expert well-versed with your business criticalities. Therefore, a consultant can help you with an immediate solution to any issues you are currently facing. When guided by a business master, it can be a game-changer for your business. They guide you with the most genuine advice in the process of accomplishing your goals and targets.
  1. Support in the business tasks- Sometimes, undertaking all the recent business trends becomes difficult for business owners, and the business development consultant can come to your help. Being experts in the sphere, they help you with all the innovative practices that can boost your business. Maybe you have been following a few practices for a long time, but it shows no outcome; in such cases, a consultant can share his view about what is going wrong and what has to be done.
  1. Undertaking cost-effective methods- When you hire a business development consultant, you can quickly solve all the day-to-day issues you face. However, without a consultant, you will end up messing up in emergencies and will need to spend a huge sum in sorting out the issues. The expert can help you with the most cost-effective solution to your problems within the required time frame, which can help you save much effort and costs.
  1. Expanding your business- If you want to expand your business, hiring a business development consultant can help you perform all the required steps and smoothly complete the entire process. An expert helps you with the most genuine business evaluation and directs you to make the desired decisions. He will help you recognize your weaknesses and strengths and how your steps can impact your business.

Conclusion

According to Mark Roemer Oakland, the points mentioned above will help you clearly understand how a business development consultant can help your business grow. With the rising demand for innovation and the increasing competition among the companies, it has become crucial for every business owner to hire a business development consultant. A single wrong step can have a huge impact on your business, and therefore, it is best to get advice from an expert and help your business reach heights.

read more