Saturday, 20 January 2018

Smart Things to Know about Third Party Administrator (TPA)






TPAs function as Intermediaries between the Insurance Provider and the Policy Holder. Its key function is processing of Claims & Settlements. The TPAs issues ID Cards to Policy Holders which have to be shown to the Hospital Authorities during any Cashless Hospitalization Services.

At the time of a Claim, a Policy Holder should inform to the TPA. Policy Holder informing to the Hospital that TPA and Policy Holder are connected to each other directly. Claim Payment will be given back to Policy Holder.

The TPA issues an authorization letter to the Hospital, after which they track the case and at Discharge all Bills are sent to TPA for Payments.

TPA sends all the documents necessary for consideration of Claims along with Bills to the Insurer. 


For More Details Visit: LifeLine Insurance & Financial Expert

Friday, 12 January 2018

When we need Insurance?

We need Insurance when:




We get Married- Even if our spouse works, He or She might depend on us for financial support .Buy an  Insurance policy for yourself.

We Became a Parent- Our responsibilities shoot up after the birth of a child. Take an Insurance cover to provide the financial security for the new family member.

Our Parents Retire- Take additional Insurance Cover when our dependent parent’s stop working or their Income reduces due to any reason.

We Borrow a Large Sum- Our family will be in a spot if something happens to us and there’s not enough Money to pay the EMIs. Take a cover equal to the Loan amount.

We Start a Business- If we quit our job, we need a bigger cover because we might have lost many of the Benefits that Employee’s get in the organized sector.





Grossly Under Insured Indians Are Living Dangerously !

Even if we assume that many customers buy more than one policy, on an average an Indian is certainly not covered beyond Rs.4 lakh. ...