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Ditto simplifies insurance. You won't just compare #insurance. You'll be understanding it. Made by the people at @Finshots #healthinsurance #lifeinsurance
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25 Nov
Why should you buy health insurance at an early age?

A thread.👇(1/n)
#1 Better prices

Since the insurer is at a lower risk of getting claims, you can get a large cover at low premiums. But do note that these will increase with age.
#2 Comprehensive covers

Healthcare costs keep rising, so your company cover may fall short. Getting an individual cover early can provide you with adequate protection over and above your corporate plan. You’ll also be in a secure spot after retirement.
Read 9 tweets
24 Nov
44% of people from our recent poll believe that one should choose a term #insurance plan with '2 cr cover till 85' over '3 cr till 65', assuming they cost the same.

But that might not be such a smart move, financially speaking, and here's why. 👇 (1/n)
The thing is that a term insurance plan is most effective when your absence deals a financial blow to your family.
God forbid, if something unfortunate happens to you when you're in your 40s or 50s, your children might be young & your spouse may be unable to single-handedly bear the brunt of it all.
Read 8 tweets
21 Nov
What if your insurance company goes bankrupt?

You’re a diligent policyholder. You make timely premium payments. So, if the need arises, you’ll obviously expect your insurance company to meet your claims in full.

But, one question looms over you: will my claims be thrown under the bus if my insurer goes under? (2/7)
The answer’s no. Tell you why.

See, it’s not like someone decides to start an insurance company today, & it materializes tomorrow. There are strict regulations at play here.
Read 7 tweets
20 Nov
Did you know you already have 10 LAKHS worth of free insurance with your debit or credit card?

Here's all you need to know about how to claim it.

A thread👇(1/n)
Guess what?

ATM, Credit, and Debit cards aren’t just for shopping and banking.

What most people don’t know is they have other less-known benefits too. Like complimentary insurance!
Almost every bank provides Personal Accidental insurance to customers with an operational bank account.

👉Depending on the type of card, this cover ranges from ₹50000 to ₹10 lakh.
Read 7 tweets
18 Nov
Everyone's buying term insurance before premiums get hiked by almost 40% this December.

Here's all you need to know about which add-ons you should consider if you're buying a term plan.

A thread.👇 (1/5)
1.) Life Stage Benefit

Term insurance policies are rigid- coverage stays the same till the policy expires.

👉With a life stage rider, the insurer provides the flexibility to increase cover by a certain amount during major life events like getting married & having kids. (2/5)
2.) Waiver of Premiums

Imagine you get disabled (it’s a painful thought, I know). You lose your job, and your family suddenly has no income.

But you have a life insurance policy. Who will pay the premiums?... (2/6)
Read 6 tweets
28 Oct
#Starbucks is the world's largest coffee chain, with 300,000+ employees in over 30,000 retail locations, earning billions of dollars in revenues every year.

But did you know it spent more on employee healthcare than coffee beans? (1/8)

Thread. 👇
The year is 2008, the world is going through a recession and after an 8-year premature retirement, Howard Schultz (Ex-CEO at the time) returns back to take the reins of a struggling Starbucks. (2/8)
The recession had been hard on Starbucks, the promising giant that Howard had left in 2000 had turned into a money bleeding behemoth.

Things were so tense that Howard had to lay off 6,700 employees and close down 600 stores. (3/8)
Read 8 tweets
27 Oct
Lessons you can incorporate in your #financialplanning from one of the greatest texts on warfare and military strategy- the Art of War by Sun Tzu.

Thread.🧵 Image
Sun Tzu believes the general that makes many preparations prior to a battle is victorious. Image
Plan your finances with proper research and due diligence, and you've already won half the battle. Image
Read 9 tweets
19 Oct
Insurers can REJECT your claim if your disease treatment falls under a "waiting period"

Here are the key things you need to know about waiting periods in your health #insurance policy.

A thread. (1/8)
💡| As the name suggests, waiting periods in health insurance is quite literally the amount of time you need to wait, for an insurance policy to cover your diseases.

But since it’s insurance, it’s not that simple.

There are mainly 3 types of waiting periods...(2/8)
(1) Initial 30-day waiting period:

~This waiting period is only so that insurers can make sure that someone doesn’t take a policy after they get sick.

~Accidents (since they are unpredictable) & COVID (waiting period could be 15 -30 days) are exceptions. (3/8)
Read 8 tweets
16 Oct
Does your health #insurance cover alternative treatments like Homeopathy, Ayurveda, Unani etc?

Find out.👇(1/6)
Picture this. You’re pushing 50 and you feel drained each day. Your physician tells you there's nothing wrong, but you're still unsatisfied.

One of your relatives happens to suggest visiting a government-certified Ayush Centre. What's that, you wonder...(2/6)
Here's what AYUSH implies:

(3/6) Image
Read 6 tweets
29 Sep
Is Amazon Becoming an #Insurance Company?

A thread.🧵(1/8)
Amazon has just announced insurance cover for Small & Medium Enterprises (SMEs) in the UK.

This is Amazon’s first foray into the insurance selling business, and we cannot be more excited. (2/8)
Amazon is only offering business-related insurance services, like protecting a company’s assets, providing coverage for cyber security as well as professional indemnity for now, but we believe this move has greater implications to the insurance industry as a whole. (3/8)
Read 8 tweets
28 Sep
Does your health #insurance cover Doctor visits?

Thread👇 (1/8)
Everybody visits the doctor at least once a year. But the doctor you visit — Her consultation fee is off the roof. A routine inspection could set you back thousands. (2/8)
So you come up with a genius plan. You decide to buy insurance and opt for a policy that reimburses all expenses incurred during these visits.

You look for options that include outpatient consultation benefits and you find one after a couple of minutes of search. (3/8)
Read 8 tweets
27 Sep
As the U.S Congress inches closer to the historic legalization of weed at the federal level, there is one industry that is all geared up to witness a potential 10X increase in sales.

And that’s #insurance.

How so?👇 (1/8)
Well, several US states have already legalized marijuana for medical or recreational purposes.

But strict federal laws that criminalized it has prevented the insurance industry from extending services to cannabis businesses - growers, testing labs, and retailers. (2/8)
But it's not that marijuana farmers do not get insurance at all. Insurance in the US is state-regulated, which means farmers do get insurance in states where it is legal. (3/8)
Read 8 tweets
21 Sep
Here's a simple checklist to make sure YOUR health #insurance claims don't get rejected.

A thread.👇 (1/11)
1.) Be Honest Guys

The most helpful thing you can do for your health insurance is being honest when you're buying it.

A mistake in revealing your pre-existing diseases or not mentioning your medical history can lead to rejection & even termination of your policy (2/11)
2.) Check Exclusions
There’s no policy in the world that will offer to cover everything. So, the things an insurer can’t cover is spelled out clearly in the exclusions list... (3/11)
Read 11 tweets
20 Sep
Would you consider a friends-with-benefits arrangement…

...for #insurance?

A thread. 👇(1/9)
There’s this concept called “peer-to-peer” in insurance that does just that.

A concept popularized by Friendsurance in Germany, here, the P2P company collaborates with an insurance company to create a group of customers, or friends, that all buy the same insurance policy. (2/9)
The premiums are pooled together & divided into two parts: A part of your group’s premiums are given to the insurer & the rest is pooled and kept with the P2P company to settle small claims.

At the end of the year if any money is left, each member gets the money back. (3/9)
Read 9 tweets
13 Sep
Here's a simple guide on how you can effectively claim your health insurance👇

Part 1- Cashless claims.

A thread.🧵(1/10)
#Insurance companies have tie-ups with a number of hospitals to manage cashless claims, you might have heard them, cause insurers love to brag about them. (2/10)
They are called network hospitals and here, the hospital and the insurance company settle the claim amongst themselves, with little to no effort from your part. (3/10)
Read 11 tweets
9 Sep
America's richest billionaires are using #insurance to escape paying up their fair share of taxes.

How exactly?

A thread👇 (1/9)
The Biden administration is coming for rich Americans.

The plan is to extract $1.5T in taxes from the top 1% over the decade.

So are these folks going to cough up more in taxes?

No, they’re called tax-savvy for a reason. This time, insurance is coming to their rescue. (2/9)
We are talking about "private placement life insurance."

PPLI is a glaring loophole that can help billionaires not pay up their fair share of taxes.

And here’s the fun part - it’s totally legal. So how does it work? (3/9)
Read 9 tweets
6 Sep
Warren Buffett's Berkshire Hathway earns almost 30% of its total revenues (that's $70B) from its insurance business.

How did insurance come to be a money-minting machine for the conglomerate?

A thread👇 (1/10)
First, we need some context on how insurers operate.

Insurance companies generally earn money through two routes. Perhaps the most obvious one is to charge premiums to customers in exchange for the provision of insurance. (2/10)
But insurers also make a large chunk of revenues from investments made through their 'insurance float'. (2/8)

What’s this 'float' you ask? (3/10)
Read 10 tweets
4 Sep
Did you know you can get FREE health check-ups from your insurer?


☀️It's a lazy Saturday afternoon. You've been waiting for almost an hour now and you can't help but look at the receptionist intently hoping he will call your name.

And then suddenly when you least expect it, you hear your name called out loud. (2/8)
😷You walk into the doctor's room. He directs you to a certain spot and measures your height. He then checks your weight.

He makes you sit straight and then takes your blood pressure. He listens to your heart & lungs and orders a blood test for cholesterol & blood sugar. (3/8)
Read 8 tweets
2 Sep
A simple checklist to select the best health insurer for you.

A thread🧵(1/12)
1.) Network hospitals:

You may have seen this word plastered on every insurer's website, but what it basically means is that if you're hospitalized in one of the insurer's network hospitals, you can avail cashless payment from your insurer. (2/12)
The insurer pays to the hospital directly without you having to pay up and be reimbursed later. So an expansive hospital network is always a good thing. (3/12)
Read 12 tweets
31 Aug
How Ping An became the world's largest insurer.

A thread🧵 (1/8)
How far would a brand go to make sure that customers are always engaged?

That’s Ping An – the world's biggest insurer, at least when measured by its total assets. (2/8)
At first look, they have invested in sectors and technologies that have nothing to do with insurance but on second look, they have everything to do with insurance. (3/8)
Read 9 tweets
26 Aug
Insurers can give you BONUS coverage every year you don't make a claim. How?

An important read👇 (1/8)
Insurers will tell you they want you to stay fit and healthy. In fact, they will even incentivize you in a bid to achieve this objective. (2/8)
For instance, how would you feel if somebody told you they’ll up your cover (above and beyond the sum insured) by 50% each year in the event you don’t claim insurance. That would be amazing, right? (3/8)
Read 8 tweets