BFSI Health Insurance
The word health insurance protects your medical costs and is a form of insurance. A Wellness Initiative insurance policy is an arrangement between the insurer and an individual / group under which the insurer is insured.
- What are the health insurance premiums?
The word health insurance premiums protect your medical costs and are a form of insurance. A Wellness Initiative insurance policy is an arrangement between the insurer and an individual/group under which the insurer is insured.
Agrees to have a specific 'premium' for defined health insurance cover.
- What are the factors that affect Health Insurance premiums?
Age is a big factor deciding the Health Insurance premiums The older you are, the higher the cost of the premium.
Since you are more vulnerable to ailments, another big factor is prior medical history, which the premium decides. The premium would automatically be lower if no previous medical history exists.
Free years of claim can also be a factor in deciding the price of the premium, as it will help you with the discount being a certain amount. This will help you lower your premium automatically.
- Whether insurance policies issued to Non-Resident Indians, where the premium is paid through the Non-Resident External Bank account, will be ‘export of services’?
Oh, no. In Indian Rupees, the sums charged from the Non-Resident External Accounts are charged and are not earned in foreign exchange convertibles. Accordingly, the requirements for the export of services, as in the case of the 2017 provisions of section 2(6) of the IGST Act are not fulfilled. Services of Life Insurance in such situation will be handled and subject to GST as inter-State supplies.