Can I use travel insurance for routine checkups?

No, travel insurance is meant for emergencies and unexpected medical situations. It does not cover routine checkups, vaccinations, or elective procedures. If you need non-emergency medical care while traveling, you will likely have to pay out-of-pocket.

What is the difference between sum assured and maturity benefit?

The sum assured is the guaranteed payout, while the maturity benefit includes the sum assured plus any accrued bonuses or investment returns in endowment or unit-linked insurance policies (ULIPs).

How does E&S insurance differ from standard insurance?

Unlike standard insurance, E&S insurers are not regulated in the same way, allowing them to provide customized coverage for non-traditional or hard-to-insure risks.

What does sum assured mean in an insurance policy?

Sum assured is the guaranteed amount paid to the policyholder or beneficiary in case of a covered event, such as death in life insurance or hospitalization in health insurance. This is the pre-determined amount agreed upon at the time of purchasing the policy, excluding any bonuses or additional benefits.

What should I do if my insurance claim is denied?

If your claim is denied, review the denial letter, check your policy for coverage details, gather supporting evidence, and file an appeal or dispute with the insurer. Legal assistance may be required in some cases.

When does emergency evacuation coverage apply?

This coverage applies when you experience a serious illness or injury while traveling, and the local healthcare facilities cannot provide adequate care.

What are the risks associated with Universal Life Insurance?

Risks include fluctuating interest rates, policy lapse due to insufficient cash value, and potential fees for withdrawals or policy adjustments. Market-linked policies like Indexed or Variable Universal Life have additional investment risks.

How does Insurtech improve claims processing?

Insurtech automates claims assessment using AI and machine learning, enabling real-time processing, fraud detection, and self-service options that reduce paperwork and speed up claim settlements.