Monthly Newsletter November 2010 Monthly Newsletter --November 2010 -Agency Admin Team Agency Admin Team Gujarat

at (Bajaj Allianz General Insurance Company Ltd) Gujarat (Bajaj Allianz GeneralInsurance Company Ltd)

INSIDE THIS ISSUE

Industry news Health Tips Terms Used in Health Insurance Taare Zameen Par Better Half speak Featured Article from Agent INSIDE THIS ISSUE Featured Article from Employee Industry news Agents on Fast Track Health Tips Books My Best Fried An Idea can change the life Terms Used in Health

Insurance

Taare Zameen Par Better Half speak Featured Article from Employee Featured Article from Agent 30 second speech by Bryan Dyson Submit Quiz answer & win prizes

Industry News
Gross Non-Life Premium underwritten for & up to month of October, 2010

Health Tips - Nayan Mehta

Correct Time to Drink Water....Very Important

Drinking water at the correct time maximizes its effectiveness on the Human body: 2 glasses of water after waking up helps activate internal organs 1 glass of water 30 minutes before a meal - helps digestion 1 glass of water before taking a bath - helps lower blood pressure 1 glass of water before going to bed - avoids stroke or heart attack

COMMONLY USED TERMS IN HEALTH INSURANCE

Cashless Facility Cashless claim facility is a benefit given by the Insurance company / TPA. The insured can get admitted in the specified network hospitals and take treatment without any payment to the hospital at the time of discharge, except the non admissible expenses. Cashless claim settlement is subject to the policy terms, conditions, limits and sub limits of the policy Co-Payment Co-Payment is a clause under the health insurance through which the insured (customer) has to pay pre-defined percentage (most of the times 10%) of the total medical hospitalization bill in non-network hospitals or according to policy wordings. Insurance companies use co-payments to share health care costs to prevent moral hazard. This can be waived off by charging extra premium amount at the time of issuance of the policy. Network hospital Network Hospitals are hospitals which are affiliated with the insurance company after the standard requirement of the insurance company is fulfilled by the hospital. In these hospitals, clients can avail cashless facility. List of network hospitals is available on the insurers website which is updated regularly. Blacklisted hospital Insurance companies may have received proofs that a hospital indulged in corrupt practices which are revealed / confirmed during the inspection at theses hospitals. Due to these malafide mediclaims, these hospital facilities get blacklisted from the network hospitals list. Insurers can get the list of updated blacklisted hospitals on website of the insurance company. TPA Some of the insurance companies outsource the claim services to companies called TPA Third Party Administrator. Pre-authorization This is a free service provided to clients on behalf of insurance company / TPA and Hospital for availing cashless services. It involves verification of customer details by the insurer before cashless facility is given. Day care procedures Day Care Procedures are the surgical procedures where the patient is discharged within few hours, hence under these listed procedures 24 hours hospitalization is not mandatory. Discharge card This is the document provided by the hospital at the time of discharging the patient which contains details of treatment given to the patient in the hospital. It includes summary of ailments, date of admission, date of discharge, follow up treatment, final diagnosis, etc. This is required while submitted the claim. Reimbursement Compensation of payment made by the client for expenses incurred for medical service at a non-network hospital. Pre-existing Diseases As defined by IRDA, any condition, ailment or injury or related condition(S) for which you had signs or symptoms, and/or were diagnosed, and/or received medical advice / treatment within 48 months to prior to the first policy issued by the insurer. Family Floater A family floater policy covers all family members (primary insured, spouse and children) under a single policy, The Sum Insured floats over the entire family and a consolidated premium needs to be paid. For example, a family of three wants to take a mediclaims. Depending on the ages of individual members, the family floater plan for Rs. 4 lakh is likely to be cheaper t han the three individual policies of Rs. 2 lakh each. In many ways the family floater plan offers flexibility in terms of utilizing the overall insurance coverage among the group. OPD OPD or Out Patient Department is the primary consultation with a doctor which does not require admission in hospital. There are some policies which cover even routine OPD costs. However, it may be noted that in case of hospitalization, the OPD expenses are covered in the pre & post hospitalization expense limits. Exclusion Exclusion is a loss or risk that a policy does not cover. Waiting Period. Waiting period determines how long you need to wait before a relevant covers triggers in your policy. The initial waiting period refers to the 30-day waiting period (90 days in some cases) from the date of the commencement of the policy within which you will not be covered for treatment of any disease or ailment, except treatment for accidental external injuries that require minimum 24 hours hospitalization. Ailment-specific waiting periods refer to the number of years one has to wait for treatment of certain ailments such as hernia, cataract etc. to be payable under the health insurance policy, Pre-policy test These are medical tests to be undergone by the proposed members to avail the insurance benefits of the policy before the policy is issued. Theses tests are conducted to assess the risk associated with the proposed members. Pre-Hospitalization & Post Hospitalization This is the benefit offered by the insurance plan which covers expenses incurred by the insurer 30 days before and 60 days after hospitalization, required by the insurer related to the same ailment.

TAARE ZAMEEN PAR TANYA KUMAR SHAH

8 years little girl with great hopes. Studying in 4th standard in TERF School, Ahmedabad with satisfactory educational achievements. Also achieving goals in activities like DANCING & BHARAT NATYAM through MUDRA dancing school. Also good in SKATING & very good swimmer as well. Very enthusiastic and helping her younger brother and sister at this age to learn the same activities in which is she is master. She gets inspiration from her mother Mrs. Ankita Kumar Shah.

BETTER HALF SPEAK Mrs. JIGISHA ASHISH SONI

I was initially apprehensive about my husbands decision to give up a bright career in the industry to join Bajaj Allianz as an insurance advisor. I dreaded the thought of my spouse choosing a career pursued by many others on a part time basis. I always imagined an insurance agent was the persuasive unwelcome visitor in every household who would do the vanishing act once his policy was sold. I am happy to admit I was wrong. Besides the financial security achieved over the last couple of years, we can now boast of innumerable friends who count on my husband to stand by them in their hour of need. I have my proud moments when our friends, who started as Ashishs clients , tell me about their different types of crises, and the immediate support received by them from Bajaj Allianz. I am proud to be your wife Ashish.

FEATURED ARTICLE FROM EMPLOYEE HIMANSHU MODI AGENCY HEAD - BARODA

Health Insurance: Must for every Indian
Today India's population has crossed a mark of 1000 million. With the rising population and modern means the need for the health care services is on the rise. Today the question is to assess the India's awareness towards the health of its people. One of the interesting and shocking facts is that only 3 percent of India's population is covered by some form of health insurance. Today India being one of the fast growing economies is seeing a large capital inflow from health care. As the rates for the health treatments are on extreme rise the rise for the health insurance is also on rise. Again we should be well informed about the company which provides insurance. The best way to invest in the health insurance is to start the policy at an early age. This way you will be able to get the insurance easily and will also be covering yourself against all type of surgeries and illness when you will require it at later age. Whatever be your age, you will always want a health insurance policy which provides you the maximum coverage and lowest premium. The important point to note that apart from the premiums there might be other hidden costs associated with health insurance: 1.) Co-payment: This amount is to be paid whenever you have to see the health insurance provider regarding the paper work. 2.) Deductible: - You pay some amount in advance before the reimbursement of the claim. The larger the deductible amount, lesser the premium. Therefore, the conclusion we drive is to visit good insurance companies providing widest range of Health Plans / Products to compare the maximum benefits with minimum premium along with the maximum coverage. The Health policies can always take away a pain from paying the higher premium policies. Lets secure us with Health Insurance and live peacefully.

FEATURED ARTICLE FROM AGENT PRATIK SHAH AHMEDABAD

I have been associated with insurance industry for more then two decades and very much pleased to witness changes that have taken place in last 7 to 8 years i.e. post privatization. Drastic changes have been implemented by our governments and our companies came out with brilliant and innovative products and above all over all improvement in the services to the end customers. Apart from all this rapid changes and growth in the insurance industry still there is a need of qualitative intermediary in the industry. With so much of competition, innovative products there are immediate and urgent need for proper education to our intermediary who is front runner in the market. The role of intermediary is very complex and he is the only person who is a bridge between the company & the customer. I strongly feel that there should be extensive training programs to be organized by all insurance companies to train intermediary to make them technically sound. At present market scenario is more on discount driven and we as an intermediary are also looking from that perspective which needs to be changed. Time has come to educate clients and show them the intricacies of the risk involved in selecting products and services involved instead of going in for commercial decision. I am of the opinion that all intermediaries should come forward and should form a self discipline code of conduct or we may call it as AGENTS CORPORATE GOVERNANCE. Where in we should follow standard practice right from marketing till settlement of claims.

30 second speech by Bryan Dyson

If Malaysia was Magnificent, Europe will be Euphoric

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