Today's modern surgical technology can cost so much, especially the cost for medical emergencies and chronic illnesses. Unfortunately, not so many people can afford healthcare and health insurance which leads to improper or no treatment at all. As for middle class and lower middle class income families, few healthcare providers in India are now beginning to open up the idea of a cashless mediclaim policy. The idea of cashless insurance is intended to help patients receive proper treatments without even to worry about paying the hospital from their own pocket. Hence, the system doesn't work like pay first, then get treated.
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In times of financial crisis, cashless mediclaim policy can be beneficial for the policyholders. This type of policy covers almost everything that a patient should be taking advantage of.
India's one of the best laparoscopic surgery hospitals is the Varanasi Hospital, is one network hospital that works with the insurance provider that provides cashless policy for the insurer. Choose your health insurance provider that offers any cashless mediclaim policy and get your treatment in Varanasi. There are so many benefits of a cashless policy, you can take advantage of.
So, if you happen to have a financial problem in terms of getting treatments for your illness and worrying about the cost of being hospitalized, cashless mediclaim policy is the solution. The benefits of a cashless policy are numerous. Basically, how this policy works is that healthcare insurances will make agreements with hospitals included in the network regarding treatments and hospitalization expenses that will be paid directly to the hospitals by the insurance. It covers mostly include the costs for all (other than non-medical expenses) such as ambulances, medical treatments, planned and emergency types of hospitalization expenses, critical illnesses, check here medicines, and rooms.
Another benefit from the cashless mediclaim policy is the system of receiving treatments while the insurance provider pays all the expenses on your behalf. Therefore, it's the best policy to use whenever you needed medical assistance when you don't have the money in advance. In the meantime, when regular checkups after being hospitalized is needed, with cashless mediclaim you will be given for free. Patients will also be given tax benefits under this policy. You can claim your previous deductions into your taxes.
Cashless mediclaim policy can be very convenient in terms getting treatment for medical emergencies and hospitalization. It is beneficial during a financial emergency as well. For every medical procedure and emergency you need, Varanasi Hospital is one of the best laparoscopic surgery hospitals that accepts cashless mediclaim and will treat their patients until full recovery. You will be all set once you have your cashless mediclaim with the best choice of hospital for treatments.
To be an insurance broker in India, you need to have a team of professionally qualified people who have expert knowledge in relation to the insurance-related laws and products. Insurance broker believes in providing professional services to its clients. They play a crucial role as a middle man between an insurance company and a person who is looking to obtain the Insurance policy. Like other forms of business in India, to start an insurance broker business in India, you need an insurance broker license. Further, in this blog, we will discuss how to start the Insurance broker business in India?
Insurance broker license and operation of insurance broker business is regulated in accordance with the regulations issued by the Insurance Regulatory and Development Authority (IRDA). IRDA has just issued the updated regulations in 2018. Let's take a look at how an insurance business license can be obtained, according to the latest regulations-
These are the capital requirement for acquiring the Insurance broker license. Now, let's take a look, who is eligible to apply for the insurance broker license.
There are certain eligibilities that need to be fulfilled by you before you jump into the business.
The following can be the applicants for Insurance Broker license-
In the case of the Limited Liability Partnership, the following people cannot be the part of the LLP, when applying for the Insurance broker license-
There is a minimum net worth required to be maintained during the course of the insurance broker license and registration.
After this, there is a deposit requirement for obtaining the insurance broker License in India. You need to deposit the following amount with the scheduled bank-
Like any other license in India, you need to pay a certain amount of fees to obtain the insurance broker license in India. Let's see how much you have to pay to get the insurance broker license?
The fee for the license is specified in the schedule I-Form D. You need to submit the fees during the time of the registration-
In case of the direct broker Rs. 25,000 In case of the Reinsurance broker Rs. 50,000 In case of the Composite broker Rs. 75,000
In case of the direct broker Rs. 50,000 In case of the Reinsurance broker Rs. 1, 50,000 In case of the Composite broker Rs. 2, 50,000
Once you have obtained the insurance broker license, you need to renew it. We will take a look at the fees need to be paid for a renewal of license for a period of 3 years.
In case of the direct broker Rs. 1,00,000 In case of the Reinsurance broker Rs. 3, 00,000 In case of the Composite broker Rs. 5, 00,000
Further, we will take a look at the documents required for getting the license of an Insurance broker.
There is a list of documents that need to be submitted at the time of registration. Below is the list of documents specified in Form C of Schedule I of the IRDA regulations, 2018
Below is the list of steps that need to be followed during the filing of an application-
Hope, you have a better understanding of insurance broker license. If you are looking start your own insurance broker business, please contact Enterslice.