Two To Tango
It makes sense to go for combo insurance plans if you want to keep things simple
- Jul 22, 2019,
- Updated Jul 25, 2019 5:52 PM IST
You have to have health insurance if you don't want to strain your finances due to a medical exigency. You also need life insurance to provide financial security to your loved ones in case something were to happen to you. This involves studying the features of multiple policies. Many people often delay or don't buy insurance to avoid the hassle of doing this. And, even if they buy, many find it difficult to manage multiple policies and ensure timely premium payments.
To reduce these problems, in 2009, the Insurance Regulatory and Development Authority of India, or IRDAI, came out with regulations allowing health and life insurance companies to join hands and offer combi plans offering both health and life covers. But insurers have started launching such plans only recently. Right now, four such plans are on offer.
You have to have health insurance if you don't want to strain your finances due to a medical exigency. You also need life insurance to provide financial security to your loved ones in case something were to happen to you. This involves studying the features of multiple policies. Many people often delay or don't buy insurance to avoid the hassle of doing this. And, even if they buy, many find it difficult to manage multiple policies and ensure timely premium payments.
To reduce these problems, in 2009, the Insurance Regulatory and Development Authority of India, or IRDAI, came out with regulations allowing health and life insurance companies to join hands and offer combi plans offering both health and life covers. But insurers have started launching such plans only recently. Right now, four such plans are on offer.