When one plans for travelling abroad, travel insurance is usually the last thing that comes to mind. Well, if you are a frequent traveler, you must be aware of how important this form of insurance can be. You become financially secure against unforeseen events like medical treatment, trip cancellation, or loss of baggage. It’s like taking a trusted friend with you that keeps you secure from every possible danger.

There are various factors to examine before choosing travel insurance online for your next trip. One such factor is, choosing the insurance type from single trip and multi-trip.

Table of Contents:- 

Single Trip Travel Insurance Policy

When To Buy Single Trip Insurance Policy?

Multi-Trip Insurance Policy

When To Buy Multi-Trip Travel Insurance?

Conclusion

Single Trip Travel Insurance Policy

As the name suggests, single travel insurance covers an individual and his family for a single trip. The cover includes holiday cancellation, loss of baggage, theft of money, emergency repatriation. The insurers don’t consider it a multi-trip if you are traveling to multiple countries consecutively. They will count it a single trip if you leave home and return home only once.

Benefits of Single Trip Insurance Policy

Single trip insurance comes with numerous benefits, which include:

The premiums of this insurance type are usually cheaper than multi-trip insurance

Some companies may provide refund related to single trip insurance if you cut short your trip

The maximum number of days in one trip is usually higher than that of multi-trip insurance.

They are more specific. This means if the nature of your trips varies substantially, you can go for single trip, as you can customize the plan to suit your journey.

You don’t have to worry that your premium will be wasted if you are unable to go for subsequent trips.

The restrictions related to minimum and maximum eligible are less.

Additional Reading: Know About Medical Travel Insurance Plan

When To Buy Single Trip Insurance Policy?

If you are travelling abroad for the first time, choosing a single trip insurance policy is a good option. If you visit different countries once a year with your family, such as during summer vacation with your children, then also you should opt for it.

As discussed above, single trip policies are ideal if you there is a huge variation in the nature of your trips. For example, one trip might be a business-related tour to Dubai, whereas the other can include rifle hunting in Africa. In both of these trips, your requirements will be different. You can modify the plan with add-ons for each trip.

Multi-Trip Insurance Policy

A lot of travelers prefer investing in multi-trip insurance policy that offers coverage related to travelling for a whole year. It doesn’t matter when you go out for a trip; the policy gets activated immediately and stays valid throughout the year.

Benefits of Multi-Trip Travel Insurance Policy

There are numerous benefits that make multi-trip insurance so popular:

You stay prepared for trips that may take place due to personal or business emergency.

You don’t have to go through the complicated process of selecting the insurance plans and reading their comprehensive brochures each time you go for a trip.

This insurance becomes economically feasible if you have to travel abroad regularly for work-related purposes.

Some policies even cover for adventurous activities, such as paragliding and skiing.

Some insurers, like Reliance General Insurance, give you coverage for trips that may extend up to 365 days.

Read: Everything You Need To Know About Travel Insurance

When To Buy Multi-Trip Travel Insurance?

These insurance policies are tailor-made for business travelers who have to visit different locations regularly. In fact, there are some plans, especially designed for business travelers. For those who love to explore the world alone or with their travel buddies, multi-trip policies are ideal choice for them.

Major Differences Between Single Trip Insurance And Multi-Trip Travel Insurance

The penchant among Indians towards real assets – gold and real estate – is fast losing favour with a significant rise in financial assets held by people. However, we live in highly uncertain times, which can best be held by Mutual Funds investment. The best way to create wealth is to invest in Mutual Funds. Now, what exactly is ‘Mutual Funds’ – Mutual Fund, for instance, is an investment vehicle professionally managed by the Fund Manager for the purpose of wealth creation from securities such as stocks, bonds, money market instruments and similar assets.

But, here arises the decade after decade old question – which approach is best for Mutual Funds investment – investing through Systematic Investment Plan (SIP) or through lump sum investment?

Now that you’ve decided to invest in a Mutual Fund, the above mentioned question is very crucial. This depends on your financial goals and your ability with your cash flow. If you don’t have a larger amount for the investment, SIP would be beneficial for you.

Even if you choose to invest the same amount of money using these two different investment methods – for instance, 3.6 lakh on 1st April or 30,000 a month for 12 months, the results may vary due to amount of money exposed to the market. This concept is known as rupee cost averaging.

Any dream can be achieved if you work towards it. Building long-run wealth is no different.

Table of Contents:-

Lump Sum and Its Basics

INVESTMENT AMOUNT under SIP

SIP WORKS ON RUPEE COST AVERAGING

POWER OF COMPOUNDING

DISCIPLINED ALL THE WAY

Finally, SIP or MUTUAL FUNDS?

Lump Sum and Its Basics

Basically, if you have a larger amount in your bank which is to be invested, what would you do? I’m pretty sure your answer would be – “Take entire amount and invest somewhere from which I can generate wealth and get multiple benefits.”

So, that “investment of entire amount” is what Lump sum investment is. Your entire corpus would be invested in a one go if you choose lump sum investment option. Lump sum investment attracts market risk for a shorter duration. If you have an appetite for longer time horizon, then it is ideal to invest in Lump sum. The minimum time horizon that you must keep in mind before investing in Lump sum mode is 10 to 12 years. Hence, your cash flow, goals and responsibilities matters are to think about before investing Lump sum in Mutual Funds.

Systematic Investment Plan and its Basics

A Systematic Investment Plan can help you work towards your long-run financial goals through regular systematic savings. These goals can be your retirement, children’s education, a dream home or even a dream vacation.

Let’s know the basics of Systematic Investment Plan first and see how it can help you fulfil your investment objectives –

INVESTMENT AMOUNT under SIP

SIP is a simple, convenient and affordable way to invest for your future with as little as Rs.500 every month. You have to regularly invest the same amount every month at the prevailing Net Asset Value (NAV) subject to applicable load. Basically, SIP offers flexibility for people with fixed incomes and vision for wealth generation.

SIP WORKS ON RUPEE COST AVERAGING

With SIP you minimise your exposure to stock market volatility. Through an SIP, you get an advantage of investing in regularly in the stock market without worrying about bull and bear phases. By investing a fixed amount of money, you may be able to gain more units when the prices are slowing down and vice versa. So that, over a period of time, the acquisition cost of per unit may come down and this is what is known as Rupee-Cost Averaging!

POWER OF COMPOUNDING

Albert Einstein once said, “Compound Interest is the eighth wonder of the world. Those who understand it, earn it. Those who don’t, pay it.”

And trust me, he was absolutely RIGHT! Even Warren Buffet agrees. The power of compounding is beautiful, the sooner you invest, the more money you have in future. You can say, compounding is your true best friend, only and only if – you’re disciplined with your investments. Systematic Investment Plan (SIP) is the most effective way to overcome the market phases, and benefit from the beautiful power of compounding over time.

So, it’s you who decides – whether to a person who earns it or to be a person who pays it! It’s you who can finance your future dreams through SIPs.

DISCIPLINED ALL THE WAY

With your money turning the better results over time, they also make you disciplined with your savings. They help you inculcate a regular saving habit as they require your attention every month with certain fixed amount.

Finally, SIP or MUTUAL FUNDS?

If you don’t have an investment in mutual funds; then it’s about time you join more than one crore smart Indians who are doing their investment in equity mutual funds. Regular investment over longer term is the most simple and effective way of creating wealth in a growth market like India. If you are a part of the one crore smart Indians doing SIP, then consider an SIP top-up if your income has increased more than your SIP amount or smart SIP to take advantage of market volatility. But, if you have lump sum cash in hand, lump sum investment option would be great for you.

The point here is – INVEST and GROW your wealth over time.

If you have sold your house recently or have received a handsome amount of money after a business deal, you can invest in a single premium insurance policy. A lot of individuals, who have spare money or reasonable savings, prefer this option over policies where premiums have to be paid at regular intervals. Also known as one-time investment plan, a single premium policy is a scheme in which a lump sum of cash is paid up front by the insured individual to cover the life. After the onetime payment to the insurer, the policy remains valid for five or ten years or as per the terms and conditions implemented by the company.

Table of Contents:- 

Why is it Important to Consider Single Premium Insurance Plan?

7 Best Single Premium Plans to Invest

1. Bajaj Allianz Fortune Gain Plan

2. Bharti AXA Life Future Invest Plan

3. Aviva Life Bond Advantage Plan

4. Future Generali Bima Gain Plan

5. ICICI Pru Elite Wealth II Plan

6. Reliance Life Guaranteed Maturity Insurance Plan

7. Aegon Life iMaximize Single Premium Insurance Plan

Conclusion

Why is it Important to Consider Single Premium Insurance Plan?

The single premium insurance plan comes with an array of benefits for the insured individual. The very first plus point of this form of life insurance is that the premium paid once is less when compared to the sum of premiums paid on regular intervals, thereby making it a wise investment. This is like buying insurance in cash instead of installments, where the total sum of EMIs is more than one time payment.

Another perk is that you don’t have to remember the due date of premium payment. This means the policy will not lapse in case you are unable to pay the premium. With a single premium plan, you only need to pay the premium once on commencement of the policy, so no need to worry about delay in premium payments.

It is suitable for those individuals who are not having a stable source of income. They don’t have to worry about the next installment of the premium. If we talk about the tax benefits, you receive an exemption of 1.5 lakhs after investing in this scheme. One thing is to be noted here that you get tax benefits only for the first year, unlike the regular premium policies in which tax benefit is received each year.

7 Best Single Premium Plans to Invest

There are numerous life insurance companies offering single premium plans for their customers. We have singled out seven best amongst all the available options.

1. Bajaj Allianz Fortune Gain Plan

Bajaj Allianz Fortune Gain Plan is an endowment plan lets the individuals switch the funds systematically for better investments. The minimum eligible age for this plan is one year, which means an individual can also use it to secure the future of his/her child. The minimum amount of the single premium is Rs. 50000, whereas there is no maximum limit related to it.

2. Bharti AXA Life Future Invest Plan

Bharti AXA Life Future Invest Plan is investment cum insurance plans allow the individuals to switch the funds up to 12 times without paying any additional charges. The individual is not charged premium allocation charge in the policy. After the completion of five years, the individuals are eligible for partial withdrawals. The benefit period for the policy is ten years, and it also allows the individuals to the pay the premium on installment basis for five years.

3. Aviva Life Bond Advantage Plan

Aviva Life Bond Advantage Plan is a single premium unit linked insurance plan that allows the individual to invest a lump sum amount for medium to long term. This plan provides you the flexibility to access the money after five years, along with life cover. The investor receives the benefit of loyalty additions if she/he stays invested in the plan for more than 10 years. Partial withdrawals are also available in which the individual doesn’t have to surrender the policy. You can also take fund value as maturity benefit.

4. Future Generali Bima Gain Plan

Future Generali Bima Gain Plan is a single payment allows the investors to get life cover and enjoy wealth creation. Some of the funds associated with the policy allow investing in equities and interest securities. This ensures that the individual enjoys stability, as well as capital growth. The age of the insured individual should be between seven years to 65 years while enrolling in it.

5. ICICI Pru Elite Wealth II Plan

In ICICI Pru Elite Wealth II Plan the investor can either manage his/her money as per the risk appetite or can take the support of experts to handle the money. There is feature called ‘Wealth Boosters’ through which savings can be increased without any extra investments. The policy’s aim is to help the investors handle the inflation and secure the future of the loved ones.

6. Reliance Life Guaranteed Maturity Insurance Plan

Reliance Life Guaranteed Maturity Insurance Plan is a plan that guarantees to double the money after 10 years and also offers upside at  maturity. The individuals can invest as low as Rs. 5000 in the form of single premium in this plan. There is no premium allocation chargelinked to it.

7. Aegon Life iMaximize Single Premium Insurance Plan

Aegon Life iMaximize Single Premium Insurance Plan is a life insurance cum investment plan allows the individuals to select from six unit-linked funds on the basis of the objectives. There is a specific fund in which the investment is made in mid-sized companies that have potential to achieve success in future. This online plan helps you to boost the fund value through Top-ups.

Conclusion

With numerous life insurance plans  related to single premium options, it is a wise idea to invest in it if you have a reasonable budget for the same. You can take the support of policy comparison portals like ComparePolicy.com  to get detailed information on popular policies. You must also contact customer support representatives of the respective insurer to clarify your doubts before purchasing the best policy.

Top 5 Motor Insurance Companies in India

The chief reason for getting the car insurance is, of course, the boundation by the law of India; it is mandatory for all the vehicles plying on the road  to have a third party motor insurance policy. In that case, you should compare the benefits of various best car insurance policies in India to spot the perfect one for you. These insurance providers generally proffer motor insurance policies that provide coverage against any damage or loss due to theft, accident, fire, explosion, self-ignition, lightning, riots and even the natural calamities according to their policies.

Table of Contents:- 

There are Two Types of Motor Insurances:

1. ICICI Lombard General Insurance Co. Ltd.

2. TATA AIG General Insurance Co. Ltd.

3. The Oriental Insurance Co. Ltd.

4. The New India Assurance Co. Ltd.

5. HDFC ERGO General Insurance Co. Ltd.

Conclusion

There are Two Types of Motor Insurances:

A) Liability Only Policy(Statutory requirement)

The Liability Only Policy is mandatory for all the vehicles plying on public roads in India. This policy covers the liability for injuries and damages to others that are caused by your vehicle. It is also known as ‘Act only cover’.

B) Package Policy(Liability Only Policy + Damage to owner’s Vehicle usually called O.D Cover):

The package policy offers the car owner a wider cover as this policy also covers the insured vehicle against damage or theft in addition to the covers included in liability only policy.

Since Liability only policy does not cover the damage to your own vehicle, it is prudent to opt for package policy.

Let us have a look at the top 5 motor insurance companies in India

1. ICICI Lombard General Insurance Co. Ltd.

ICICI Lombard General Insurance Co Ltd is the largest general insurance company in India in the private sector. According to a survey conducted by J.D. Power Asia Pacific, this company offers the best car insurance in India leading all other motor car insurance providers in terms of customer satisfaction. The company is also the proud recipient of a reputed award for customer and brand loyalty. The various distinctive features that make it stand out of all the companies are:

The insurance offers the highest claim settlement ratio.

The insurance can be purchased online on EMI’s which is undoubtedly the most benefitting of all features.

The policy holders can avail the cashless facilities in 3300+ network garages across India.

It issues the e-insurance policy almost immediately after you make the final purchase.

Further, simple claim process, the wide range of add-on covers and the highly valued and appreciated customer support are some of the other features that make ICICI Lombard, the best motor car insurance provider in India.

2. TATA AIG General Insurance Co. Ltd.

Founded in 2001, TATA AIG General Insurance Co Ltd is a joint venture by two giants, TATA Group and American International Group. Offering hassle-free claims and a giant network across the country, TATA AIG has managed to capture the motor car insurance market almost immediately after the company was formed. The key features that make TATA AIG one of the best car insurance plans are:

12 add-on covers that offer complete protection to your vehicle# Free pick-up of the car

Claim settlement in just seven days

Complete guarantee on the repairs along with cashless settlement on all network garages across India.

3. The Oriental Insurance Co. Ltd.

Owned by the Government of India. Oriental Insurance Co. Ltd. is a company that offers the complete trust and satisfaction to its customers. Boasting off various reputed awards, the latest addition to the awards are ‘best public general insurance award’ and ‘best bank and financial institution award’. Not only the awards, but the iAAA rating by ICRA proves that Oriental Insurance Co. Ltd indeed has a strong financial framework. Some of the features that make it awesome include:

 Attractive add-on covers

Quick claim settlement time

Being a government undertaking makes it more reliable

1800+ active branches across India

Strong customer support and agent network

4. The New India Assurance Co. Ltd.

Wholly owned by the Government of India, the New India Assurance Co Ltd, headquartered at Mumbai, is making its strong presence even in the international market ever since its formation. Backed up by the strong network and capital, robust infrastructure and human resource, the New India Assurance Co Ltd boasts off the title of it being called the pioneer in introducing the most innovative insurance products. Furthermore, it has been rated A+ (Excellent) by the A.M.Best Co., And this makes it the only Indian insurance company to be rated by an international rating agency. Various features of the insurance plans by this company includes

The decisions on the claims are taken within three days of the application.

Acknowledgement of grievance within three days

The complaint is resolved within 15 days of its acknowledgement.

The claim payment is made within three days of discharge voucher receipt

5. HDFC ERGO General Insurance Co. Ltd.

Founded in the year 2002, HDFC ERGO General Insurance Co. Ltd is an ISO 9001:2008 certified insurance Company that boast off its robust channel of distribution and integrated customer support. Claiming to be providing one of the highest claim settlement ratio, HDFC ERGO is also one of the best motor car insurance providers in India. The company has been rated iAAA by ICRA and have also won the award for being best general insurance company in India by IAIR in 2013. Some of the distinctive features of HDFC ERGO General Insurance Co Ltd are:

The process of claim settlement is indeed very fast

The company offers various discounts on the basis of age and profession.

Cashless settlement at 1600+ network garages

Third Party Damage Upto 7.5 Lakhs

Conclusion

It is important to screen various top companies to spot the perfect motor insurance for your vehicle. It is uncustomary to say that having your car insured against theft or damage provides you with a sense of relief and satisfaction. There are various other motor insurance providers in the market. However, it is important for you to check through the policy benefits, policy cost, documentations, policy inclusions and accountability of the company before making an investment.

Lapsed LIC Insurance Policy – Here’s How to Revive It Online 

There is no doubt in saying that an unwanted incident, mishap can easily occur without any invitation or notice, for such cases owning a life insurance policy is really very important. An effective life insurance policy will help in securing the future of your loved ones and keep them ready to face such drastic incidents. We all know that buying an effective life insurance policy is really important and need of today’s world as well, but do you know that renewing your policy on time is also very important to reap the benefits of the same in case of emergency and moreover revival of lapsed policy is also crucial.

Well the concept of revival is really very simple, the situation of revival occurs when the policyholder fails to pay the premium within the defined time period  or grace period and then the policy lapse. You must know about the inclusion of revival policy because as a policyholder, you should know the ways of renewing your policy and getting it back in case of lapsation. You can renew the lapsed policy any time within the initial five years from the date when you stop paying premiums.

Revival of the LIC policy

 If you are looking for revival of LIC policy, then you must be aware of the 5 different schemes under which you can easily do the same.

 Ordinary Revival–  Under this situation, the policyholder can easily revive his/her lapsed policy, All he/she need to do is just pay all the unpaid premiums along with the interest together. Moreover, just be ready in case, where the insurance company asked for a declaration of good health along with a few medical reports.

 Special Revival– Under this scheme of revival  the date commencement of the insured person can be shifted and he/she can pay a single premium as per the age at revival time. A person can take advantage of the special revival scheme when he/she is not able to pay the premium in a lump sum. Under this scheme too, insurance company can ask for a declaration of good health and a few medical records. If a person wants to revive his/her policy under the special revival scheme, then there are few conditions that need to be complete. Such conditions are.

Yu have to use special revival scheme for the entire tenure of the policy.

The policyholder can also go for special revival within the initial 3 years of the policy lapsation.

The Policyholder should not acquire  any surrender value under the policy. That’s why the option of special revival option can be  executed in the initial 3 years of the commencement date.

 Installment Revival-There are many schemes for the ease of customer and installment revival is one of them. In case where the policyholder is not able to pay the due premium in a lump-sum, then under the revival scheme he can use the installment option. If you are going for instalment option, then there are few ways through which you can continue,

In case of yearly premium, a policyholder should pay half of the yearly payment.

In the half-yearly method, the policyholder should pay one half of the yearly premium.

In the quarterly premium section, the policyholder has to make 2 quarterly payments.

Under the monthly mode,the policyholder can pay regular 6 months premium under the monthly mode.

The policyholder can make the rest of the payment in equal installments within the initial years along with the regular premium.

 Survival Benefits Cum-Revival Scheme–  A policyholder can easily use this scheme to revive the money back policies. If, this benefit due date comes prior than the in line for renewal date, then the policyholder can easily avail the survival benefit. A person has to pay the extra amount in case the amount for revival is more than the survival benefit and vice-versa.

 Loan Cum Revival Scheme – A policyholder can also go for loan cum revival scheme. Under the same the policyholder can use this benefit by taking the policy loan on the date of revival of the policy that acquires a surrender value. The policyholder may require to pay an additional amount in case there is any shortage in the revival amount. If the loan amount is greater  than the revival amount than the extra amount will be paid to the policyholder.

Importance Of Revival : Why It Is Essential To Revive Lapsed LIC Policy?

Suppose there is an insured person who have a life insurance policy and he is suffering from any critical illness just a few days before the expiry of the policy. In such situation, if he does not revive his Life insurance policy, then he may have to face several difficulties just to purchase a new one. Apart from that, he would not be able to grab all the useful benefits of the pre-existing policy as its benefits got lapsed.

Basically, the revival of your effective life insurance plan offers an option of extending the coverage as the insurance company cannot decline the revival of your policy as the option of the same is always there in the policy’s document.

You can easily revive your LIC insurance policy as it is not a prolonged process and can be done simply by following a  few steps.

Health insurance, which is popularly known as medical insurance is a type of insurance policy that offers comprehensive protection against expensive treatments so a person can get quality treatment whenever required. It protects you from paying heavy medical bills when you are injured or have fallen ill. Just like other insurance policies, you need to select a plan and agree to pay a definite amount as a premium. In return you will get several benefits of owning a health policy.

When it comes to buying health insurance either for you or for family, you will come across many doubts; like how much insurance is sufficient for you? Where to buy? Whether you can afford it or not? Which one to buy? Which is the best health insurance company?

According to IRDA report 2012-2013, there are 17 private general insurance companies, 4 Public Sector biggies and 4 individual Health Insurance companies.

{Source: IRDA report 2013-14}

As there are many health insurance companies, it becomes quite difficult to choose the best out of them, but we will make it easy for you. Here, we guide you through the top 5 health insurance companies in India based on their past performances and claim settlement ratios. Most of the health insurance companies offer separate policies for individual, family, senior citizen, etc. When you select a health insurance policy, you must select the best health insurance company in India with favorable reviews. The policy should compulsorily cover hospitalization expenses, surgery fee, medicines cost, day care treatment, nursing allowance etc.

1. Apollo Munich Health Insurance 

Apollo Health Insurance Company provides much acclaimed health insurance policies and best cashless facility.  On choosing the individual health insurance plan, the consumer will get benefits like restore benefits, no claim bonus and for family health insurance, there are family plans that cover the entire family under a single policy.

Other features include no additional loading at the time of renewal, 100% no claim bonus and great sum insured. For senior citizens, the company is providing insurance cover with features of lifelong cover for self and spouse, 5% discount for every claim free year, cashless coverage across network hospitals and no claim based loadings on renewals. The company is a JV between Apollo Hospitals Group and Munich Health, which is a leading organization when it comes to health insurance.

2. ICICI Lombard 

ICICI Lombard is basically a joint venture between ICICI Bank Limited and Fairfax Financial Holdings Limited. This organization was established  in 2001 by Hargav Dasgupta. It is one of the largest general insurance companies in the private sector. The company products include policies such as ICICI Lombard Health Insurance, ICICI Lombard Overseas Student Medical Insurance, International Travel insurance, ICICI Lombard Home Insurance and ICICI Lombard Car Insurance.

ICICI Lombard provides a great range of healthcare products like ICICI Lombard Complete Health Insurance, Personal Protect and Health Care Plus. The company aims at providing maximum coverage through their health plans.

3. Max Bupa Health Insurance Company

Max Bupa Health Insurance Company Ltd. (Max Bupa) is basically a joint venture between Max India Limited and the UK based healthcare services, Bupa. It is one of the fastest growing health insurance companies in India. It provides a wide array of health insurance policies, with maximum sum insured and budget deals. It has different types of health plans starting from the coverage of heart ailments to complete hospitalization cover. The plans of Max Bupa carry unique features and benefits that are hard to get in any other company. Apart from the basic cover, the company also provides coverage for maternity expenses, new born baby, vaccination expenses and much more. The best thing about this company is that they settle claims directly without any third party involvement. It also provides unique Health Relationship Program that is especially designed for its dedicated customers who renew their policy without any break.

4. Bajaj Allianz Health Insurance 

It is a joint venture between Bajaj Finserv Limited and Allianz SE. Both enjoy a status of expertise, stability and strength. This insurance company received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to perform various business activities (including health insurance business) in India. The company has an authorized and paid up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz SE. Health insurance policies offered by them include Health Guard (Mediclaim), Silver Health (Senior Citizen) and Star Package (Family Floater). There are other policies also like Hospital Cash that gives a fixed sum on every day of hospitalization and Critical Illness that offers a lump sum in case the policyholder contracts one of the critical illnesses listed for e.g. cancer, during the policy period. Bajaj was the first company to come up with a confined TPA with ensuing efficiencies.

5. Religare Health Insurance 

Religare Health Insurance Company Limited is one of the leading providers of health insurance policies in India. The shareholders of this company comprise of three strong entities; Religare Enterprises Limited, a chief diversified financial services group based out of India, Union Bank of India & Corporation Bank. Religare was started by the founders of Fortis hospitals that manage 68 hospitals all over the India.

SRL Diagnostics, Asia’s largest network of diagnostic labs with around 1100 collection centers and Religare Wellness, a countrywide chain of stores providing pharmacy and wellness products are also part of the company. This allows people an in-depth access to various healthcare services. Religare Health Insurance Company was started in the year 2012 and in a short span it has earned the trust of people by providing helpful policies with great features. It allows consumers to get quality treatment at more than 4000 hospitals in the country.