MICRO Blog

Recently, during my conversation with a new NRI client, she revealed her plans to eventually return and retire in India. Upon further enquiry, I discovered she had a corporate health cover abroad but had discontinued her health insurance policy back home. This, unfortunately, is a very common mistake among NRIs. After settling abroad, many NRIs […]

The Indian Parliament passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 earlier this December. One of the key highlights of the legislation is the increase in the foreign direct investment (FDI) limit in Indian insurance companies to 100 per cent. While this move is expected to boost capital inflows and support […]

Healthcare inflation is rising in India. As per ACKO India health report 2024, healthcare inflation was reported at 14 per cent in 2023. The ripple effect is reflected in the rising mediclaim insurance premiums. Health insurers, in general, have hiked premiums across their product basket by at least 15-20 per cent in 2024. So, is […]

The Pradhan Mantri Jan Aarogya Yojana (Ayushman Bharat), the government-sponsored health insurance scheme for low-income groups, has been extended to all senior citizens over the age of 70 years, irrespective of their income levels. Under this extension, all senior citizens in this age group will receive a new distinct card under AB PMJAY to access […]

The Insurance Regulatory and Development Authority of India (IRDAI) has notified a few changes in health policy regulations which have come into effect from the new financial year 2024-25. Some of them are an improvisation over the regulations implemented in 2020. These change in rules will be included not just in new health policies issued […]

Medical expenses under 80D: A deduction up to Rs.50,000 can be claimed for medical expenses for senior citizen parents. However, this tax benefit can only be availed if they do not have medical insurance. Group health insurance: No tax deduction is available on group health insurance premium paid by a company on behalf of employee. If the employee is contributing to the premium on group cover offered by the employer, then he/she can claim proportionate deduction. Floater poli

The decision to choose a suitable health insurance product should not be based solely on low premiums. Waiting period on pre-existing diseases, general waiting period, room rent restrictions, sub-limits, permanent exclusions and many such features need to be evaluated to make the befitting choice. One such feature is cumulative bonus in a health policy. It […]

Did you know that you can port your health insurance policy just like your mobile number? If you are not happy with your policy, you can switch to another insurer of your choice as per IRDA regulations. But let us discuss first what would be the right reasons to switch to another insurer. The right […]

A prospect recently asked me this during a preliminary discussion – What if I do not buy health insurance and save money on paying premiums? Instead, I build my own medical fund. So, I asked her a few questions. She found her answers in the questions asked. To conclude, a medical fund can be a […]

If your parents think paying health insurance premiums is a waste of money! An average Rs.5 lakh hospital bill for a senior citizen equals the premium for approx. 10 years. Even if there are 2 hospital visits over a decade, it is worth having health insurance. This is the point that can be put forth […]