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Most of us think of India as a young country. And as home to one-fifth of the world's young population and with an average age of 29, you're right. But did you know India's elderly population is set to double from its present 153 million to a staggering 347 million, in just 30 years? Moreover, by the end of this century, the population of <keyword id="19894991" type="General" weightage="20" keywordseo="senior-citizens" source="keywords">senior citizens</keyword> in India will surpass the population of those aged under 14, as per a report by the United Nations Population Fund and the International Institute for Population Sciences. As such, with <keyword id="19955368" type="General" weightage="100" keywordseo="Budget-2024" source="keywords">budget 2024</keyword> looming on the horizon, what is it that this burgeoning section of our population wants? We take a look : <h2>Wish 1: Raise deduction threshold for <keyword id="22285655" type="General" weightage="20" keywordseo="mediclaim-premium" source="keywords">mediclaim premium</keyword></h2>At present, senior citizens (aged 60 and above) and super senior citizens (aged 80 and above) can claim a deduction of up to Rs 50,000 on health insurance premiums they pay during the year. For those aged below 60, the annual deduction limit is of Rs 25,000. But, as Tarun Mathur, CBO, Policybazaar.com notes, "There’s a need for an increase in the tax deduction limit for health insurance premiums, to raise the same to Rs 50,000 for individuals, their spouses, and dependent children, and to Rs 1 lakh for senior citizen parents". With insurance regulator <keyword id="6361421" type="General" weightage="20" keywordseo="IRDA" source="Orion">IRDA</keyword> removing the age cap (which was previously 65 years) for buying new insurance policies, health insurance for senior citizens becomes far more accessible. Given that only 20% of India's population aged 60 have any kind of health insurance, a comprehensive insurance coverage with low tax liabilities becomes a necessity for our senior citizens. At present, the government is mulling extending the <keyword id="22285657" type="General" weightage="20" keywordseo="Ayushman-Bharat-Pradhan-Yojana" source="Orion">Ayushman Bharat Pradhan Yojana</keyword> to provide crucial, free healthcare support for India's senior citizens aged above 70. But only time, and July 22nd will tell. <h2>Wish 2: Offer similar tax benefits to pension products as NPS </h2>NPS, or <keyword id="475509" type="General" weightage="20" keywordseo="National-Pension-System" source="Orion">National Pension System</keyword> is a lucrative retirement planning scheme. And it comes with many tax benefits. For instance, if you withdraw up to 60% of your accumulated pension as lumpsum once you turn 60, your withdrawal is tax free. Similarly, if any amount you receive from NPS is reinvested in the annuity plan, it remains tax exempt. However, income from annuities is taxed as per your regular income tax slab. And any early withdrawals that you make (before 60 years) will attract taxes. A standard deduction of Rs 50,000, or amount of annuity income (whichever is lower) can be claimed. But under regular annuities or pension products, senior citizens pay a 10% tax on total taxable income over Rs. 3 lakhs , Rs 20,000 + 20% over amount exceeding Rs 5 lakh, and Rs 1.2 lakh+ 30% on amount exceeding Rs 10 lakh. As Mathur notes, "Pension products like annuity plans should be given the same tax benefits as NPS, since the current taxation does not encourage investment in retirement planning. It’s also necessary to expand Section 80C deductions and add a dedicated category for term insurance because the existing limit of Rs. 1,50,000 is insufficient". Even retirement planner Sanjeev Dawar notes that income from annuities is a primary source of income for retirees. "As such, tax relief is expected since returns, although assured for life, are relatively low. Moreover, they remain fixed and have no sensitivity to inflation". Additionally, Dawar also advocates for special financial considerations for eligible individuals who are compelled to stay in old-age homes in their twilight years. It is also needed that travel concessions, that have been withdrawn, are restarted". <h2>Wish 3: Lowering lock-in periods for elderly </h2>Many schemes like national savings certificate (NSC), unit-linked insurance plans (ULIP) and senior citizen savings scheme (SCSS) are subject to tax deductions, provided they are redeemed after their specific <keyword id="20792448" type="General" weightage="20" keywordseo="lock-in-period" source="keywords">lock-in period</keyword>. For instance, tax-saver FDs, ULIPs and NSC have a lock-in period of 5 years, while equity-linked savings scheme (ELSS) have a lock-in period of 3 years. It would help senior citizens if this lock-in period is reduced, so that they have some liquidity and cash handy during medical or other such emergencies. Additionally, withdrawals should be allowed within lock-in period sans hefty penalties, as is the case right now. <h2>Wish 4: Lowering GST on health insurance premiums </h2>Currently, GST on health insurance premium is payable at 18%, which can translate into a hefty levy, especially since senior citizens end up paying significantly higher premiums to get insurance coverage. For a premium of Rs 30,000, the GST could go as high as Rs 5,400. As per Prasun Sikdar, MD &amp; CEO, Manipal Cigna Health Insurance, "lowering the GST burden on the health insurance premiums will be a huge respite for missing middle and senior citizens to get access to quality healthcare they need and help to significantly boost insurance penetration across India by driving affordability.” <h2> Wish 5: Reduce tax on <keyword id="21695681" type="General" weightage="20" keywordseo="passive-income" source="keywords">passive income</keyword> sources for aged</h2>For most senior citizens, rental income from house, pension and other such passive sources turn into a major income avenue, once they retire from active employment. As such, these should be taxed at a lower slab, and not considered as regular salary. Or else, higher exemption limits should be introduced to allow them to save more. At present, the basic exemption limit for senior citizens between 60-80 years is Rs 3 lakh, while the exemption limit for citizens above 80 years is Rs 5 lakhs. The limits should be revised, keeping in mind how expensive medical care is in current times.

Budget 2024: Here's what India's elderlies want

<keyword id="22053621" type="General" weightage="20" keywordseo="Insurance-regulator-IRDA" source="keywords" meta.keywordsubtype="org" meta.entityname="Insurance regulator IRDA" meta.hostid="261" meta.entityid="Insurance regulator IRDA">Insurance regulator IRDA</keyword> has introduced sweeping reforms for various <keyword id="19936531" type="General" weightage="100" keywordseo="life-insurance" source="keywords">life insurance</keyword> products. In its master circular dated 12th June, 2024, the insurance watchdog laid out a slew of customer-friendly directives for life insurance companies to follow with immediate effect. Read on to know all about how these new rules will impact you : <cmsannotation type="cmsannotation" annotationid="Customer information sheet" comment="subhead" text="Customer information sheet"><keyword id="22033784" type="General" weightage="20" keywordseo="customer-information-sheet" source="keywords">Customer information sheet</keyword></cmsannotation> Going ahead, all life insurance companies will have to mandatorily provide their policyholders with a CIS, or Customer Information Sheet. This will serve to explain to them the basic features of the policy in very simple terms, and will include essential details like sum assured, benefits, policy loan options, free-look period and procedures for making claims and redressing grievances. In addition, benefits payable to the policyholder if they survive the policy tenure (maturity benefits), upon death and surrender of policy should also be clearly spelt out. Along with this, the policyholders are also entitled to a customised illustration of how the policy will benefit them while they are being sold the policy. CIS should also be made available to the policyholder in their local language on request. <cmsannotation type="cmsannotation" annotationid="Free-look and grace period" comment="subhead" text="Free-look and grace period"><keyword id="22053620" type="General" weightage="20" keywordseo="Free-look-and-Grace-Period" source="Orion">Free-look and grace period</keyword></cmsannotation> Policyholders will now have a 30-day window from the day they receive the policy document to review and cancel the policy if they want. If the policy is cancelled within this period, they will be entitled to a full premium refund. Earlier, this period only lasted for 15 days. For grace period, which basically refers to the additional, penalty-free window given to the policyholder to make premium payment post due date to avoid losing coverage, the windows will differ depending on premium payment frequency. If you pay the policy premiums on a monthly basis, you will get a 15-day grace period. For premium payments made on a quarterly/half-yearly or annual basis, the grace period will be of 30 days. <cmsannotation type="cmsannotation" annotationid="Penalty on violating Ombudsman’s word" comment="subhead" text="Penalty on violating Ombudsman’s word">Penalty on violating Ombudsman’s word</cmsannotation> The insurer is bound to comply with the <keyword id="960887" type="General" weightage="20" keywordseo="Insurance-Ombudsman" source="Orion">Insurance Ombudsman</keyword>’s award within 30 days of receiving the same. In case the same is violated, the insurer will have to pay a penalty of Rs 5,000 per day to the complainant. <cmsannotation type="cmsannotation" annotationid="Higher value on early policy surrender" comment="subhead" text="Higher value on early policy surrender">Higher value on early policy surrender</cmsannotation> Often, policyholders ended up with a low, negligible amount as refund upon surrendering their insurance policy. This is set to change with <keyword id="21879234" type="General" weightage="20" keywordseo="IRDA" source="keywords">IRDA</keyword>’s latest directives. Now, policyholders will be eligible for <keyword id="885219" type="General" weightage="20" keywordseo="surrender-value" source="Orion">surrender value</keyword> even if they decide to surrender their policy after just one year. Previously, only 50% of <keyword id="2939473" type="General" weightage="20" keywordseo="policy-premium" source="Orion">policy premium</keyword> would be refunded, provided the policyholders surrendered their policy between years 4-7 of the policy tenure. Moreover, they would lose the entire premium amount if they surrendered their policy within a year. Customers will also be entitled to higher special surrender value (SSV) from now on. This SSV should be at least equivalent to the expected present one of the these three: <ol><li>Paid up sum assured, or present value of your sum assured after you stop paying premiums</li><li>Paid up future benefits</li><li>Accrued benefits</li></ol>Also, it will be compulsory for life insurers to offer loans to policyholders as per the eligible surrender value of the policy. Says Vivek Jain, Head, Investments, Policybazaar.com, "The provision for higher Surrender Value (SV), calculated at a prevailing 10-year government securities rate with a limited spread, significantly increases the value returned to policyholders in the event of a policy surrender, after the completion of first year. The mandatory facility of policy loans across all life insurance savings products and the allowance of partial withdrawals under pension products will provide vital financial flexibility, which will enable policyholders to meet liquidity needs and specific financial goals. These measures will certainly enhance trust and transparency in the industry." <cmsannotation type="cmsannotation" annotationid="Partial withdrawal allowed from pension products" comment="subhead" text="Partial withdrawal allowed from pension products">Partial withdrawal allowed from pension products</cmsannotation> Policyholders will be allowed to make partial withdrawals, provided they have 3 years of continuous coverage under their insurance-cum-pension plan. Also, these withdrawals cannot be more than 25% of the total premiums paid till date. The insurer cannot use this withdrawal towards making any adjustments in the policy's sum assured. However, this withdrawal will only be allowed for specific situations, like funding children’s higher education/marriage, constructing a house, treating critical illnesses, starting a new venture or for skill development purposes.

Here’s how your life insurance plans are set to change

<ul><li>The whole idea why waiting periods exist is that people should not abuse insurance.</li><li>When there is a pre-existing disease declared in the proposal form, it will have usually a 24- 36 month <keyword id="707278" type="General" weightage="20" keywordseo="waiting-period" source="Orion">waiting period</keyword></li><li>A lot of <keyword id="6362363" type="General" weightage="20" keywordseo="health-insurance" source="Orion">health insurance</keyword> policies provide options to the customer to reduce the waiting period for pre existing diseases by paying an extra <keyword id="47469" type="General" weightage="20" keywordseo="premium" source="Orion">premium</keyword> </li></ul>The purpose of health insurance is to cover us in case of any medical procedure or emergency. But the coverage does not start from day one of the policy being issued. There is a certain time, also known as the waiting period after which the <keyword id="7692022" type="General" weightage="20" keywordseo="policy-coverage" source="Orion">policy coverage</keyword> kicks in. “A waiting period in health insurance policies refers to the duration that must pass after purchasing the policy before it covers specific diseases, specific surgeries, medical conditions, treatments or any add-ons. These typically range from 1-4 years and vary across insurers,” says Adarsh Agarwal, Chief Distribution Officer, Digit General Insurance. Types of waiting period Waiting periods are typically of three kinds. The first is an initial 30 day waiting period. During this time, no claims or planned procedures are covered. “Anything like an infection where there is a probability that one may have caught it before buying the policy, is not covered. However any hospitalisation due to accidental injury is covered,” says Bhaskar Nerurkar, Head, Health Administration Team, Bajaj Allianz, General Insurance. The second type of waiting period is when there is a pre-existing disease (PED) declared in the proposal. Coverage for such diseases will have a 24- 36 month waiting period. Similarly, health insurance policies for maternity also have a waiting period ranging between 9-24 months or more, so as to discourage people from buying a health insurance policy to solely cover maternity costs. The third type of waiting period is for some of the surgeries like hip replacement and knee replacement surgeries. “These types of surgeries can be postponed by a couple of years. So they have a waiting period as well,” says Nerukar. “The whole idea why waiting periods exist is that people should not abuse insurance,” he adds. How to reduce or do away waiting periods “A lot of health insurance companies offer that flexibility to the customer where they can reduce the waiting periods for certain diseases like asthma, BP, cholesterol or diabetes. If you pay some extra premium, the waiting period can be reduced to day one also, which means after the initial waiting period,” says Siddharth Singhal, Business Head, Health Insurance, Policybazaar.com. For other diseases, you can reduce the waiting period depending from plan to plan and from insurer to insurer. Apart from the diseases mentioned, the waiting period can be reduced to 90 days, in most cases. In some policies, there is an inbuilt feature which lets you reduce your waiting period, while in others, it comes as a rider. What to keep in mind It is advisable to take health insurance as early as possible when one does not have any pre-existing disease. “While one must look at opting for health insurance plans with reduced waiting periods, younger individuals, for example, who have no <keyword id="1177704" type="General" weightage="20" keywordseo="pre-existing-diseases" source="Orion">pre-existing diseases</keyword> can opt for higher PED waiting periods in order to opt for a health plan that is affordable to them. This way one can finish all the prerequisite waiting periods when they are healthy and still keep their health insurance plan affordable,” says Agarwal. Also, when taking a policy it is important that one makes a clear declaration of all pre-existing diseases. That may mean that there is a waiting period, but one can pay an extra premium and reduce the waiting period. However, not declaring an existing condon may mean that a claim may be rejected altogether.

Waiting periods in health insurance policies: What the policyholder needs to know

<ul><li>The price band for <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword>’s IPO was set at ₹940-₹980.</li><li>The company’s market cap stood at ₹51,692 crore ($6.9 billion) at 9.47 a.m.</li><li>It will use the proceeds from the public issue to acquire new businesses and boost its operations.</li></ul>Shares of PB Fintech — the parent company of online insurance platform PolicyBazaar and lending platform PaisaBazaar — started trading at ₹1,150 on the stock exchanges on Monday, November 15. This is a premium of 17.35% over the issue price of ₹980. The company’s market cap stood at ₹51,692 crore ($6.9 billion) at 9.47 a.m. The pre-open price of this IPO was ₹1,200 at 9:38 AM. PolicyBazaar's shares were trading at ₹1,233 at 11:33 a.m, representing a premium of 26%.It's market cap reached ₹55,672.80 crore ($7.4 billion) at the same time. PolicyBazaar’s three-day-long initial public offering (IPO) opened on November 1, at a price band of ₹940-₹980 per share. The lot size was set at 15 shares. The cost of each lot was ₹14,700 at ₹980 a share. The grey market ⁠— shares being bought and sold outside the exchanges before the IPO ⁠— was at a premium of ₹150 a share, as per several media reports. The issue size of PolicyBazaar’s IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore. The issue received bids for 57.24 crore equity shares against an offer size of 3.45 crore. PB Fintech — which was <a href="https://economictimes.indiatimes.com/tech/funding/policybazaar-rejigs-cap-table-with-a-45-mn-round-at-2-4-bn-valuation/articleshow/81301551.cms">reportedly</a> valued at $2.4 billion in March 2021 when it raised $45 million from Cyrus Poonawalla Group and others — reported revenue of ₹957 crore in the financial year 2021. Its losses were cut down to ₹150 crore. The company would use the proceeds from the upcoming IPO for marketing of PolicyBazaar and PaisaBazaar. A part of the proceeds would also be used for strategic investments and acquisition of new businesses, it said in its red herring prospectus (RHP). SEE ALSO <a href="https://www.businessinsider.in/science/news/blue-origin-teaches-space-tourists-who-land-in-the-desert-what-to-do-if-their-rocket-lands-next-to-a-cactus/articleshow/87698700.cms" data-type="tilCustomLink">Blue Origin teaches space tourists who land in the desert what to do if their rocket lands next to a cactus</a> <a href="https://www.businessinsider.in/stock-market/news/elon-musk-sold-nearly-7-billion-worth-of-tesla-stock-this-week-and-says-hes-incurring-higher-taxes-on-purpose/articleshow/87699239.cms" data-type="tilCustomLink">Elon Musk sold nearly $7 billion worth of Tesla stock this week - and says he's incurring higher taxes on purpose</a> <a href="https://www.businessinsider.in/tech/news/former-spacex-engineer-accuses-company-of-racial-discrimination-denying-its-claims-that-he-was-fired-for-making-inappropriate-facial-expressions/articleshow/87699444.cms" data-type="tilCustomLink">Former SpaceX engineer accuses company of racial discrimination, denying its claims that he was fired for making inappropriate facial expressions</a>

PolicyBazaar starts trading at a premium of over 17%

<ul><li><a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms" data-type="tilCustomLink"></a><keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword> launched its public issue on November 1, at a price band of ₹940-₹980.</li><li>Investors have bid for 5.47 crore shares from 3.45 crore shares open for subscription.</li><li><keyword id="11111226" type="General" weightage="20" keywordseo="pb-fintech" source="Orion">PB Fintech</keyword> intends to raise ₹5,709 crore at a valuation of $6.1 billion (₹45,500 crore).</li></ul>The initial public offering (IPO) of PB Fintech — the parent company of insurance selling platform PolicyBazaar and lending platform PaisaBazaar — has been subscribed by 1.59 times in the first two days of its initial public offering (IPO). PolicyBazaar, which intends to raise ₹5,709 crore at a valuation of $6.1 billion (₹45,500 crore), launched its public issue on November 1 and today is the last date to subscribe. The shares are available at a price band of ₹940-₹980. The lot size has been set up at 15 shares, taking the value of one lot to ₹14,700. Overall, investors have bid for 5.47 crore shares from 3.45 crore shares open for subscription. Retail investors subscribed to PolicyBazaar’s IPO 2.04 times. Qualified institutional buyers (QIB) have subscribed to the Policybazaar’s IPO by 2.08 times and non-institutional investors have subscribed 23%. Overall, the IPO was subscribed 1,59 times. <div type="Video" msid="87578802" hostid="261" title="Here's why Policybazaar founders chose to go public" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87578802"></div> According to <a href="https://www.livemint.com/market/ipo/policybazaar-ipo-gmp-subscription-status-other-details-should-you-subscribe-11635732095036.html">reports</a>, <keyword id="12401663" type="General" weightage="20" keywordseo="policybazaar-shares" source="Orion">Policybazaar shares</keyword> are available at a premium of ₹150 in the grey market. You can easily <a href="https://www.businessinsider.in/business/startups/news/policybazaar-ipo-will-open-today-here-is-how-to-apply-via-bank-and-apps-like-zerodha-paytm-money/articleshow/87370279.cms">apply to the Policybazaar IPOs </a>via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others. PolicyBazaar’s IPO will include fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore from existing investors. According to PB Fintech’s red herring prospectus (RHP), the company will use ₹1500 crore of the proceeds to create brand awareness for PolicyBazaar and PaisaBazaar. Besides this, PolicyBazaar will also invest an additional ₹600 crore on funding strategic investments and acquisition. The company will also invest capital to grow its user base both online and offline as well as build its presence online. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms" data-type="tilCustomLink">Logistics startup Delhivery files for a nearly $1 billion IPO</a> <a href="https://www.businessinsider.in/finance/banks/news/former-sbi-chairman-pratip-chaudhuris-arrest-will-lead-to-policy-paralysis-say-experts/articleshow/87482347.cms" data-type="tilCustomLink">The arrest of former SBI chief Pratip Chaudhuri may prevent bankers from making any risky decisions, say experts</a> <a href="https://www.businessinsider.in/business/telecom/news/elon-musk-owned-starlink-forms-subsidiary-in-india-will-soon-apply-for-licenses/articleshow/87480590.cms">Elon Musk-owned Starlink forms subsidiary in India, will soon apply for licenses</a>

PolicyBazaar IPO — Today is the last day to subscribe, grey market premium at ₹150

<ul><li><keyword id="19580272" type="General" weightage="20" keywordseo="pay-as-you-drive" source="Orion">Pay-as-you-drive</keyword> <keyword id="6381626" type="General" weightage="20" keywordseo="motor-insurance" source="Orion">motor insurance</keyword> tailors insurance <keyword id="11929654" type="General" weightage="20" keywordseo="premiums" source="Orion">premiums</keyword> based on the distance driven rather than fixed flat premium. </li><li><keyword id="6359672" type="General" weightage="20" keywordseo="customers" source="Orion">Customers</keyword> choose a kilometre option based on average daily run, and the premium is computed accordingly. </li><li>Kilometres-based plans typically start with a limit of 2,500 kms a year </li></ul>Soumya Das, a Kolkata based professional has two cars, a Honda City which he and his wife uses for daily commute and a Maruti Jimny which he uses occasionally for off-roading trips. Should he pay the same insurance for both the cars? Insurance companies, in the bid to attract new clientele, are designing schemes to address this. Welcome to the world of pay-as-you-drive insurance where your insurance depends on how much you drive the car. While this concept has existed in more developed economies for some years now and is now making an entry in the Indian market. Under basic car insurance, the premium is classified under a single slab, irrespective of the driving and usage patterns of the users. However, the fact remains that there are many customers, who do not drive frequently, but need to pay a similar amount of premiums as the person with higher car usage. “To bridge this gap, the add-on cover of Pay-as-you-drive (PAYD) has been introduced, which tailors insurance premiums based on the distance driven rather than fixed flat premium,” says Parthanil Ghosh, president, retail business, HDFC ERGO General Insurance Company. “This is a breakthrough in motor insurance given that a huge number of people, especially those living in metros, working in corporates/jobs, hardly take out their cars, use more of public transport and taxis, therefore are at lower risk of damage/accidents,” says Vivek Chaturvedi, CMO, head direct sales, Digit General Insurance. <cmsannotation type="cmsannotation" annotationid="Subhead" text="So, how does the PAYD cover work?">So, how does the PAYD cover work?</cmsannotation> Customers choose a kilometre option based on average daily run, and the premium is computed accordingly. Third-party coverage is annual, and own damage coverage ceases once the kilometre limit lapses. Customers can top up kilometres by paying an additional premium. “A policyholder who primarily uses public transport or works from home pays premiums based on limited car usage, leading to substantial cost savings compared to traditional flat-rate premiums.” says Neel Chheda, senior executive vice president and head- auto and actuarial analytics, Tata AIG General Insurance Company. Kilometres-based plans typically start with a limit of 2500 kilometres per year, with additional slabs like 5000, 7500, 10000, and so on. “Customers choosing a 2500 km plan receive coverage up to that limit from the policy start date, and in case a customer feels that they are about to exhaust their kilometers, they can purchase additional kilometers during the policy based on their requirement. Lower kilometer slab plans come with higher additional discounts, while higher km slab plans have lower additional discounts,” says Nitin Kumar, head, motor insurance, Policybazaar.com. For example, if a customer is driving, say, less than 6,000 kilometres per year, other parameters remaining the same, they will pay a lesser premium than a customer who drives say more than 10,000 kilometres per year. The PAYD add-on ensures that policyholders are not charged a substantial premium based on the car's make and model. Instead, the payment is determined by the frequency of the vehicle's usage. How does the car company keep track? “We have an OBD device that is linked to the mobile phone that captures the data of the vehicle and is linked to our system. Otherwise it is purely based on the odometer reading at the time of the claim,” says T A Ramalingam, T A Ramalingam, Chief Technical Officer, Bajaj Allianz General Insurance. <cmsannotation type="cmsannotation" annotationid="Saving on premiums" comment="Subhead" text="Saving on premiums">Saving on premiums</cmsannotation> The amount of savings with PAYD insurance depends on factors such as the vehicle's make, model, age, and place of registration and also the number of kilometres it is driven in a year. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="2" style="border-bottom:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Snapshot of the benefits </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mileage Band </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Benefits that can be claimed on basic own damage premium </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#f3f3f3;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">0-2,500 kms </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#f3f3f3;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">25% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#f3f3f3;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,501-5,000 kms </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#f3f3f3;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.50% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#f3f3f3;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5,001-7,500 kms </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#f3f3f3;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#f3f3f3;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,501-10,000 kms </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#f3f3f3;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr></tbody></table> *PAYD policy with HDFC Ergo

Pay-as-you-drive: If you drive less, you can get a discount on your insurance premium

<ul><li>Over 50% of <keyword id="12056148" type="General" weightage="20" keywordseo="pb-fintech-ipo" source="Orion">PB Fintech IPO</keyword> has been subscribed on the first day of the IPO bidding process.</li><li>The company intends to raise ₹5,709 crore with this public issue, at a valuation of $6 billion.</li><li>PolicyBazaar will use this funding to make strategic investments and acquisitions.</li><li>You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.</li></ul>The initial public offering (IPO) of PB Fintech, the parent company of insurance selling platform PolicyBazaar and lending platform PaisaBazaar, has been subscribed by over 50% on the first day of IPO. The IPO of the company started today and has subscribed 0.58 times on the first day. Shares allotted to retail investors have been subscribed 1.23 times. You can easily <a href="https://www.businessinsider.in/business/startups/news/policybazaar-ipo-will-open-today-here-is-how-to-apply-via-bank-and-apps-like-zerodha-paytm-money/articleshow/87370279.cms">apply to the Policybazaar IPOs </a>via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others. Overall, investors have bid for 1.85 crore shares from 3.20 crore shares open for subscription. According to <a href="https://www.livemint.com/market/ipo/policybazaar-ipo-gmp-subscription-status-other-details-should-you-subscribe-11635732095036.html">reports</a>, Policybazaar shares are available at a premium of ₹150 in the grey market. The IPO started on November 1 and will close on November 3 with a price band of ₹940 - ₹980 per share. The issue size of the IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale of ₹1,959 crore by its existing shareholders. The company said it will use ₹1500 crore of the IPO proceeds to create brand awareness for PolicyBazaar and PaisaBazaar. Besides this, PolicyBazaar will also invest an additional ₹600 crore on funding strategic investments and acquisition. Further, promoters are <a href="https://economictimes.indiatimes.com/tech/startups/policybazaar-founders-to-cut-sale-of-own-shares-in-ipo-by-85-90/articleshow/87446355.cms">reportedly </a>selling a lot fewer shares than they had initially planned with the belief that the stock has significant headroom for growth post listing. PolicyBazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue soon. 95% of PolicyBazaar’s revenue comes from commissions from insurance companies on selling policies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/there-are-five-ipo-openings-in-the-next-15-days-of-november-including-paytm-policybazaar/slidelist/87455241.cms#slideid=87455871">The next ten days are big for IPO investors ⁠— hope you have cash set aside</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/policybazaar-ipo-the-grey-market-is-paying-150-a-share-extra-to-buy-the-shares-before-the-ipo/articleshow/87453983.cms">Policybazaar IPO ⁠— the grey market is paying ₹150 a share extra to buy the shares before the IPO</a>

Policybazaar IPO: Second day to subscribe to the IPO, grey market premium at ₹150

<ul><li>When obtaining <keyword id="6362363" type="General" weightage="20" keywordseo="health-insurance" source="Orion">health insurance</keyword>, it is essential to disclose pre-existing conditions. </li><li>Withholding information about pre-existing conditions can result in <keyword id="961573" type="General" weightage="20" keywordseo="claim-denial" source="Orion">claim denial</keyword> and cancellation of cover. </li><li>Disclosure of <keyword id="1177704" type="General" weightage="20" keywordseo="pre-existing-diseases" source="Orion">pre-existing diseases</keyword> may result in higher <keyword id="11929654" type="General" weightage="20" keywordseo="premiums" source="Orion">premiums</keyword>, waiting periods, exclusions, or in a few cases, denial of coverage. </li></ul>The principle of utmost good faith is a cornerstone of insurance contracts. It basically means being honest, fair, and open when dealing with others in legal agreements. It's about being trustworthy and not trying to trick or deceive anyone. This principle helps build trust and fairness in relationships and deals. <cmsannotation type="cmsannotation" annotationid="If you lie about existing health conditions when taking health insurance, your claim is likely to be rejected." comment="Subhead" text="If you lie about existing health conditions when taking health insurance, your claim is likely to be rejected.">If you <keyword id="85102" type="General" weightage="20" keywordseo="lie" source="Orion">lie</keyword> about existing health conditions when taking health insurance, your claim is likely to be rejected. </cmsannotation> “Withholding information about pre-existing conditions violates the principle of utmost good faith and any such non-disclosure while taking up the policy can result in claim denial and cancellation of cover ab initio thereby resulting in financial hurdles for the policyholders at the time of their need,” says Parthanil Ghosh, president, retail business, HDFC ERGO General Insurance Company. So, disclosing pre- existing conditions is important because it will help the insurance company assess risk and determine coverage. If you have done a proper disclosure, it will also help you avoid claim denials. Even if you have been paying the premiums for a decade, if you have not disclosed pre-existing conditions at the time of taking the policy, your claim could be rejected. This would mean that you have to pay the entire hospital bill out of your own pocket. “This creates a lose-lose situation, where the policyholder has invested considerable resources in insurance coverage, only to discover that it fails to provide the necessary financial protection in times of genuine need due to non-disclosure of pre-existing conditions,” says says Siddharth Singhal, business head, health insurance, Policybazaar.com. To avoid such a scenario, customers should fill the proposal form themselves (not leave it to an intermediary) and declare all pre-existing conditions and details of previous claims taken. “Customers should also go through the policy document to gain a thorough understanding of policy terms and conditions, ensure their declared pre-existing condition has been recorded and understand the waiting periods and exclusions of the same,” says Ajay Shah, head, distribution, Care Health Insurance. <cmsannotation type="cmsannotation" annotationid="What happens when you disclose pre-existing conditions" comment="Subhead" text="What happens when you disclose pre-existing conditions">What happens when you disclose pre-existing conditions</cmsannotation> People tend to lie about their pre-existing conditions when buying health insurance as they are scared that their premiums will rise. Higher premiums are likely if one discloses pre-existing diseases for obvious reasons. Disclosing of pre-existing diseases may also mean that the policy comes with a waiting period. Some insurers have waiting periods for coverage of pre-existing health conditions. During this period, typically lasting from a few months to a couple of years, the insurer does not cover medical expenses related to the pre-existing condition. “However, there are many new products in the market now, which have reduced the waiting period for their policyholders. It is advisable to understand this in detail before buying your health insurance,” says Shah. In some cases, in case you disclose a pre-existing disease, your health insurance policy may also come with certain exclusions for those conditions. The insurance company may also offer you a different product or in some cases deny you the insurance, in which case you may approach another insurer to get the protection you require. When it comes to health insurance, any mistake may prove costly, so it is important to be careful.

Lying while taking health insurance can invite big trouble later – Here’s why

<ul><li>When applying for a term life insurance policy, medical tests are often a standard requirement.</li><li>The tests are an integral part of the underwriting process as they help insurance providers make informed decisions.</li><li>The results of these medical tests may significantly affect the premiums the applicant is offered. </li></ul> Gulshan Sharma, 43, (name changed) had a <keyword id="388040" type="General" weightage="70" keywordseo="term-policy" source="Orion">term policy</keyword> of ₹1 crore, but recently wanted to enhance it by another ₹1 crore. When he approached the life insurance company, he had to do a video call with a doctor who asked him questions about his health and whether he was a smoker or consumed alcohol. He was quoted a premium figure but asked to undergo a <keyword id="6451830" type="General" weightage="20" keywordseo="medical-test" source="Orion">medical test</keyword>. When applying for a term life insurance policy, medical tests are often a standard requirement. “Life insurance, particularly term plans, serve to address mortality risks, which significantly depend on an individual's health and fitness. Therefore, before underwriting any policy, it is common for insurers to assess an individual's overall health and potential risk factors,” says Rajesh Krishnan, Chief Operations Officer, Bajaj Allianz Life Insurance. Importance of tests in the underwriting process The tests are an integral part of the underwriting process. They help insurance providers make informed decisions about pricing. Within life insurance, medical underwriting is required because it helps evaluate the risk involved while underwriting the customer. “Medical evaluation is generally done on the basis of the customer declaration which may be followed by either a tele-medical check-up or a full physical medical check-up,” says Rhishabh Garg, head, term insurance, Policybazaar.com, an insurance portal. The results of these tests provide valuable insights that insurers use to determine how much an individual's premiums should be and what coverage they are eligible for. Required tests The specific types of medical tests required for a term life insurance application can vary from one insurer to another, but there are common tests that are typically requested. These may include blood pressure measurements, blood tests to evaluate cholesterol levels and blood glucose, measurements of Body Mass Index (BMI) to assess obesity risk, urinalysis to reveal kidney or metabolic issues, and an electrocardiogram (ECG) to detect heart irregularities. Additionally, insurers often review an applicant's medical history, including past surgeries, hospitalisations, or existing medical conditions. These factors contribute to the overall risk assessment and influence premium calculations. Results of medical tests affect premiums The results of these medical tests may significantly affect the premiums the applicant is offered. If an applicant's test results indicate good health, with no significant medical issues or risk factors, they are likely to qualify for standard or preferred premium rates. These rates are typically lower, as they reflect a lower perceived risk to the insurer. However, if the tests reveal medical conditions, the premiums would go up, depending on underwriting norms of the insurer. “Occasionally, insurance applications may be declined or incur additional premiums, contingent on factors like age, current health management, medication use, and disease severity,” says Krishnan. If an individual is found to have diabetes, term insurance premiums can increase by 20-75% or more, depending on the severity of the condition. For heart issues, mild cases may result in a 20-50% premium increase, while severe conditions can lead to a 50-100% or higher rise in premiums. How to reduce your term insurance premium To reduce term insurance premiums, several strategies can be employed. Firstly, staying fit and maintaining a healthy lifestyle is crucial, as insurers often consider your health when determining rates. Accurate disclosure of information related to your health and lifestyle habits is essential, as withholding information can lead to higher premiums or claims denial. Avoiding high-risk activities, such as extreme sports or tobacco use, can also help lower premiums. Additionally, shopping around and comparing quotes from various insurance providers can assist in finding the most cost-effective coverage that aligns with your specific needs and budget.

Getting a term policy? All you need to know about the medical tests that will decide the premium

<ul><li><keyword id="482957" type="General" weightage="20" keywordseo="home-insurance" source="Orion">Home Insurance</keyword> protects one’s home from any unforeseen circumstances such as fire, theft, and natural calamities like earthquakes, floods, and storms. </li><li>For individual homeowners, it is recommended to choose comprehensive coverage. </li><li>Homeowners can boost their standard home insurance policies with add-on options.</li></ul>Scary as it may sound, with climate change now a reality, all our cities are likely to experience devastating floods. We have seen it in Mumbai, in Chennai, in Bangalore, and very recently in Himachal and Uttarakhand. Let us take the case of Mumbai. Studies suggest that high rainfall, rising sea levels and sinking land expose more people to the risk of floods. Moreover, there are other natural calamities that may occur too and add to that the risk of theft and burglary. This makes home insurance very essential for anyone who owns a property, or even those who stay in rented accommodation where one can insure the contents of the house against various risks. “Home insurance is a type of property insurance that protects one’s home from any unforeseen circumstances such as fire, theft, and natural calamities like earthquakes, floods, and storms. It also covers the damage caused due to water-logging due to floods,” says Vivek Chaturvedi, CMO and head of direct sales, Digit Insurance. <cmsannotation type="cmsannotation" annotationid="Home insurance in India is abysmally low" comment="subhead" text="Home insurance in India is abysmally low">Home insurance in India is abysmally low</cmsannotation> Home insurance penetration in India is very very low. Data from The Asia Insurance Review revealed that home insurance in India stood at only 1% five years back. In contrast, countries like the US, UK, France and Australia have home insurance rates ranging from 90% to 97%. There are a couple of reasons for it. “One is the perception that nothing will happen to me and I do not need home insurance. The second is related to the lack of knowledge of new products, that one can insure both the building and the content,” says Gurdeep Singh Batra, national head, retail non-motor underwriting and coinsurance, Bajaj Allianz <keyword id="6366282" type="General" weightage="20" keywordseo="general-insurance" source="Orion">General Insurance</keyword>. Also, home insurance in India is not mandatory. While it is also not legally mandatory in the United States, the United Kingdom, or Canada, many mortgage lenders in these countries often require borrowers to have home insurance as a condition of the mortgage loan. This requirement is to protect the lender's financial interest in the property. While it's not a legal obligation for homeowners, it is a practical necessity to secure coverage to safeguard their homes, personal belongings, and liability in unforeseen circumstances while satisfying lender requirements. We look at why home insurance is important and what it covers. <cmsannotation type="cmsannotation" annotationid="What is covered under home insurance" comment="Subhead" text="What is covered under home insurance">What is covered under home insurance</cmsannotation> Under home insurance, there are three kinds of cover available. <cmsannotation type="cmsannotation" annotationid="Building-Only Cover" comment="subhead" text="Building-Only Cover">Building-Only Cover</cmsannotation>: This type protects the physical structure of the building, including the net usable area (carpet area). It excludes external walls, service shafts, balconies, verandahs, and open terrace areas but includes internal partition walls within the residential unit. <cmsannotation type="cmsannotation" annotationid="Content-Only Cover" comment="subhead" text="Content-Only Cover">Content-Only Cover</cmsannotation>: This option covers personal belongings inside the house that aren't permanently attached to the structure, such as furniture, electronics, and kitchen equipment. <cmsannotation type="cmsannotation" annotationid="Comprehensive Cover" comment="Subhead" text="Comprehensive Cover">Comprehensive Cover</cmsannotation>: This provides complete protection for both the building and its contents. It often includes additional options like coverage for equipment breakdown and burglary. Individuals can choose the option that suits their specific needs and circumstances. <cmsannotation type="cmsannotation" annotationid="Insure your home according to your needs" comment="Subhead" text="Insure your home according to your needs">Insure your home according to your needs</cmsannotation> For individual homeowners, it is recommended to choose comprehensive coverage because it provides protection for both the building and the contents of the house. If you own a flat within an apartment complex, it is typically the responsibility of the housing society to insure the structure itself. In this case, the flat owner would only need to insure the personal contents within their home. “In case the building isn’t insured, then one can buy a cover individually as well to protect the structures of their flat,” says Chaturvedi. If you're a tenant residing in an apartment or a standalone house, you might want to focus solely on obtaining 'content-only' insurance coverage.This type of insurance safeguards all your possessions within the dwelling. “It could be a wise idea for landlords who have let-out properties to consider landlords' insurance, which covers damage to the building as well as loss of rent,” says Mathur. <cmsannotation type="cmsannotation" annotationid="Subhead" text="Add-ons to boost your home insurance">Add-ons to boost your home insurance</cmsannotation> “Protecting your home with a comprehensive home insurance policy coupled with tailored add-ons is the most sensible and prudent thing to do,” says Tarun Mathur, CBO - General Insurance, Policybazaar.com. "Theft and Burglary Cover" protects against losses not typically covered by standard policies, such as theft of valuable items like gold and electronics. "Gold and Jewelry Add-On" extends coverage to include precious metals and offers significant protection. "Portable Electronic Items Add-On" is essential, covering devices like laptops and phones that may not be included in standard policies. In the event of home damage, "Alternate Accommodation Add-On" eases the burden by covering the cost of temporary housing during repairs. For added security, "New-for-Old Cover" ensures valuable items are replaced with new ones, rather than reimbursed at their depreciated value. <cmsannotation type="cmsannotation" annotationid="Low premiums" comment="Subhead" text="Low premiums">Low premiums</cmsannotation> Interestingly home insurance premiums are low and are very manageable. Home insurance premiums vary based on factors like property value and coverage. “ The premium for home insurance lies between 0.10 per thousand to 0.25 per thousand sum insured,” says Batra. You can get a ₹ 1 crore sum assured for as low as ₹2,500 per year and ₹25,000 for a 10-year period. Comprehensive plans with added features will cost you more. It's essential to obtain quotes from different insurers to find the best policy that suits your specific needs and budget.

From fire to floods – Why home insurance is something you should not  ignore

<ul><li>Over 40% respondents mentioned <keyword id="11321964" type="General" weightage="20" keywordseo="high-premiums" source="Orion">high premiums</keyword> as the main reason for not buying insurance</li><li>About 53% expressed difficulty in understanding the products and processes.</li><li>58% of respondents expressed trust in brands they were familiar with when purchasing <keyword id="6362363" type="General" weightage="20" keywordseo="health-insurance" source="Orion">health insurance</keyword>.</li></ul><keyword id="17908534" type="General" weightage="20" keywordseo="affordability-concerns" source="Orion">Affordability concerns</keyword> and difficulties in understanding the product are the two primary reasons discouraging individuals from purchasing health and <keyword id="6406875" type="General" weightage="20" keywordseo="life-insurance" source="Orion">life insurance</keyword> in India, according to a consumer insights report from insurance marketplace Policybazaar.com. The ‘How India Buys Insurance’ report says that its survey found over 40% of respondents mentioned high premiums as the main reason for not obtaining insurance, while about 53% expressed difficulty in understanding the products and processes, leading them to abandon the idea. The survey examined the buying behaviour of 3,300 plus respondents from 27 cities across India, including metros, Tier II and Tier III cities. <cmsannotation type="cmsannotation" annotationid="Trust factor plays an important role" comment="subhead" text="Trust factor plays an important role"><keyword id="3403801" type="General" weightage="20" keywordseo="trust-factor" source="Orion">Trust factor</keyword> plays an important role</cmsannotation> Approximately 80% of the respondents identified personal recommendations from friends, family or a known agent as the primary reason for considering insurance. Among them, 56% stated that a recommendation from friends and family played a significant role in their decision to purchase health insurance, while 54% reported the same for life insurance. The survey also revealed that 58% of respondents expressed trust in brands they were familiar with when purchasing health insurance, while 64% expressed the same for life insurance. This indicates that individuals tend to place greater trust in insurance brands that they recognise or that have a long-standing presence in the market. Brand familiarity and a strong track record seem to contribute to the building of trust among consumers when it comes to selecting insurance providers. Says Sarbvir Singh, chief executive officer of Policybazaar, “With a detailed series of face-to-face interactions, we have gone beyond Tier-I and Tier-II cities in this research and also explored the perspectives of Tier-III India. We hope that the insights from our research will pave the way for more relevant and consumer-centric solutions from the insurance industry.” <cmsannotation type="cmsannotation" annotationid="Research vs buy" comment="subhead" text="Research vs buy">Research vs buy</cmsannotation> Approximately 80% of the respondents, for both health and life insurance, sought information online before making a policy purchase. However, despite the online research, over 85% of the respondents ultimately opted to purchase insurance offline, primarily through an agent whom they were acquainted with or who came recommended by friends and family. This indicates that while online platforms are used for gathering information, the personal connection and trust associated with known agents play a crucial role in the final decision-making process when it comes to purchasing insurance.

Affordability and lack of understanding are main reasons for people not opting for insurance in India

<ul><li>Usually, the higher coverage policies such ones for ₹1 crore do not have any sub-limit. </li><li>A ₹1 crore cover protects you from any kind of eventuality, and gives you peace of mind. </li><li>Moving from a ₹10 lakh cover to ₹1 crore does not bring 10X the cost to the consumer – it only costs 25-30% extra. </li></ul>In the last few years, an assured sum of ₹5 to ₹10 lakh in <keyword id="6362363" type="General" weightage="20" keywordseo="health-insurance" source="Orion">health insurance</keyword> is often not enough for a family of three to four members. The main reason for this is India’s high medical inflation – which stands at 14%, as per a Motilal Oswal Financial Services report. Also, during Covid, when more than one family member fell ill at the same time, and had to be hospitalised, it was found that a family floater health insurance of ₹10 lakh was insufficient. What is the right quantum of health insurance cover that one requires? Also, in recent times, health insurance companies have been offering ₹1 crore covers at a reasonable premium. Do you need one? <cmsannotation type="cmsannotation" annotationid="Types of ₹1 crore covers available" comment="subhead" text="Types of ₹1 crore covers available">Types of ₹1 crore covers available</cmsannotation> It is important to understand the types of ₹1 crore <keyword id="807521" type="General" weightage="20" keywordseo="sum-assured" source="Orion">sum assured</keyword> health insurance products available in the market. Such products in the market are available as combinations of base ₹10 lakh plus ₹90 lakh super top-up coverage, or a ground up ₹1 crore product. Super top-up health insurance works by providing additional coverage when the medical expenses exceed the threshold limit set in the primary health insurance policy, offering an extra layer of financial protection for the policyholder. The super top-up kicks in only when the base cover is exhausted. “A lot of insurance companies have now launched covers which are a combination of a base policy of ₹10 lakh and ₹90 lakh super top-up. So, essentially, the customer is getting a coverage of ₹1 crore. And since it is from the same insurance company, a customer can also get cashless treatment, and can have a completely hassle-free claim settlement,” says Siddharth Singhal, business head-health insurance, Policybazaar.com, an insurance aggregator. Policies with a super top-up, are of course, slightly cheaper. There may be some terms and conditions differentiations when one opts for base plus super top-up combination. “One should be careful at the time of purchase for consistency in terms and conditions. There are options available in the market which are ground up ₹1 crore coverage and do not put any restrictions of room rent, 100% bill payment, and even provide day one coverage for buyers,” says Rupinderjit Singh, vice president - retail health, ACKO. The room rent limit in health insurance refers to the maximum amount that the insurance policy will cover for hospital room charges during a patient's stay. Usually, the higher coverage policies such as ₹1 crore do not have any sub-limit like room rent limit. “So, opting for such policies saves one from partial claim settlement,” says Rakesh Kaul, chief distribution officer, Zuno General Insurance. <cmsannotation type="cmsannotation" annotationid="Should you go for a ₹1 crore cover" comment="subhead" text="Should you go for a ₹1 crore cover">Should you go for a ₹1 crore cover</cmsannotation> There are few factors which decide the sum assured required for one's family like: number of family members, location of residence, quality of healthcare desired (whether top hospitals should be part of the hospital network). <keyword id="55251" type="General" weightage="20" keywordseo="cancer-treatment" source="Orion">Cancer treatment</keyword> in India can cost anywhere between ₹25-₹30 lakh or even higher. Many are often forced to sell off their assets to pay off such large medical bills. “At the time of claim, to settle such a large amount is almost impossible for a middle-class, or even an upper-middle-class family. A ₹1 crore cover protects you from any kind of eventuality and I would recommend anybody to look for it,” says Singhal. Floater plans, which cover the family members under a single sum insured are also very popular. “One should consider a ₹1 crore cover on a floater basis,” says Kaul. A health insurance contract is a long-term contract extending to 15-20 years. “India also witnesses high rates of lifestyle diseases. One can choose to have lower sum assured right now but once one gets a lifestyle disease in the future, insurance companies may not allow one to increase their sum assured to higher ones like ₹1 crore. A ₹1 crore sum assured safeguards a consumer and allows him to live worry free and not bother about their health cover at all,” says Singh. He says that, essentially, a family of four, with the eldest member being above 35 years of age should go for a higher cover between ₹25 lakh-₹1 crore. <cmsannotation type="cmsannotation" annotationid="How much does a ₹1 crore cover cost" comment="subhead" text="How much does a ₹1 crore cover cost">How much does a ₹1 crore cover cost</cmsannotation> One may feel that the cost of a ₹1 crore cover would be much higher than a ₹10 lakh cover. However, that is not the case. “Moving from ₹10 lakh cover to ₹1 crore does not bring 10x the cost to the consumers. It is only 25-30% extra cost,” says Singh. <cmsannotation type="cmsannotation" annotationid="Premiums for health insurance policies with ₹1 crore sum assured" comment="subhead" text="Premiums for health insurance policies with ₹1 crore sum assured"><keyword id="11929654" type="General" weightage="20" keywordseo="premiums" source="Orion">Premiums</keyword> for health insurance policies with ₹1 crore sum assured</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Policy Name </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual Premium (₹)* </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Star Comprehensive </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Star Health Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">23,106 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Activ Fit Plus </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Capital Health Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17,058 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Health Guard- Platinum </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Allianz </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">23,245 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prime Advantage </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manipal Cigna Health Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">21,004 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Health Gain </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance General Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18,511 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Care Advantage </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Care Health Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,159 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Max Saver 2.0 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Niva Health Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11,733 </td></tr></tbody></table> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="3" style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">* Self cover for a 30-year old. Source: Policybazaar.com. </td></tr></tbody></table> To sum up, a ₹1 crore health cover may cost you a few thousand rupees extra, but it’s sure to bring you peace of mind in case of any health eventuality.

Moving from a ₹10 lakh to a ₹1 crore health insurance cover is not as expensive as you think

<ul><li>As startup layoffs continue, Mobile Premier League and FrontRow fire 245 peopleInfo Edge has lost ₹9,491 crore ($1.2 billion) in its investment in tech startups <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword>.</li><li>The market cap of both the companies have fallen significantly as the Indian stock market undergoes sharp correction.</li><li><keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> owns 15.23% stake in restaurant aggregator business Zomato and 13.3% in financial services company PolicyBazaar.</li></ul>Sanjeev Bhikchandani-led Info Edge has lost ₹9,491 crore ($1.2 billion) in its investment in tech startups Zomato and PolicyBazaar since their stock market debut. The development comes as tech and startup stocks underwent a meltdown in the last few months. According to Business Insider’s calculations, the Naukri.com and Jeevansathi.com’s parent company has made ₹12,656 crore ($1.6 billion) on its investment in the two companies as of May 30. This investment however was once worth more than twice of what they’re now worth —- at ₹22,148 crore ($2.8 billion), as per their listin day valuations. Notably, Info Edge owns 15.23% stake in restaurant aggregator business Zomato and 13.3% stake in financial services company PB Fintech, which is the parent company of PolicyBazaar and PaisaBazaar. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Returns on the day of listing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Returns on May 30, 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹14,957 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,537.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech (PolicyBazaar) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,191 crore. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,119 crore </td></tr></tbody><tbody></tbody></table>Zomato’s shares listed at a<a href="https://www.businessinsider.in/business/news/zomato-makes-a-strong-public-market-debut-at-51-premium-shares-open-at-115/articleshow/84667265.cms#:~:text=Zomato%20made%20a%20strong%20debut,the%20NSE%2C%20up%2072%25."> premium of 51% </a>as its shares opened at ₹116 in July 2022. Its market cap was at ₹98,211 crore on the closing bell on the first day of listing, down from the ₹100,000 crore mark it breached earlier in the day. The company’s market cap has halved since then to ₹56,060 crore, as of May 30. At the peak of Zomato's stock price, Info Edge’s shareholding in the company was valued at ₹20,190 crore. PB Fintech — which offers insurance and loan facilities to customers — listed on the stock exchange at a premium of 17% on the Indian stock market on November 15, 2021. Its market cap was ₹54,070 crore on the closing bell on the day of market debut, versus ₹30,970 crore on May 30. Info Edge is also an investor in other initial public offering (IPO)-bound companies like ixigo and Shiprocket. The year <a href="https://www.businessinsider.in/stock-market/news/there-are-huge-discounts-on-nykaa-zomato-paytm-and-shares-of-other-listed-tech-startups/articleshow/89086759.cms">2022 has not been a great one</a> for these tech stocks, which <a href="https://www.businessinsider.in/stock-market/news/paytm-nykaa-and-zomato-are-now-a-part-of-nifty-next-50/articleshow/89820712.cms">made their debut on the stock market </a>only last year. Besides Zomato and PB Fintech, others like Paytm and Nykaa have also faced a significant drop in their share price and market capitalization ever since the startup of 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage change in stock price since Jan 1, 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-49.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-28.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FSN E-Commerce (Nykaa) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-32.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">One97 Communications (Paytm) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-52.13% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EasyTripPlanner (EaseMyTrip) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+41.68% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MapMyIndia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-25.59% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RateGain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21.75% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nazara Technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-50.26% </td></tr></tbody><tbody></tbody></table>Source: Bombay Stock Exchange One97 Communications, the parent company of Paytm, was <a href="https://www.businessinsider.in/stock-market/news/zomato-is-now-bigger-than-paytm-reasons-why-the-market-is-not-excited-about-vijay-shekhar-sharmas-vision-of-a-superapp/articleshow/87777762.cms">not doing great in 2021</a> but 2022 was somehow even worse when it 52.13% of its share price and marketcap this year. The company’s valuation has eroded over 75% ever since its listing in November 2021. Nykaa was off to a <a href="https://www.businessinsider.in/stock-market/news/nykaa-starts-trading-at-2001-a-premium-of-77-87/articleshow/87618803.cms">good start last year</a> as the company managed to double investors’ money on the day of listing. However, it has too been on a downwards trajectory this year as it witnessed over 27% dip in its share price in 2022. Info Edge’s share price also fell nearly 32% since the start of this year. SEE ALSO <a href="http://www.businessinsider.in/finance/banks/news/citi-kotak-icici-and-other-investment-banks-earned-2600-crore-through-ipos-last-year/articleshow/91887303.cms" data-type="tilCustomLink" style="">Indian companies raised $14 billion via IPOs and their i-bankers made $300 million in fees</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/nykaa-to-face-competitive-heat-but-its-omni-channel-experience-maybe-the-game-changer/articleshow/91883946.cms" style="">Nykaa to face competitive heat but its omni-channel experience maybe the game changer</a> <a href="http://www.businessinsider.in/business/startups/news/mobile-premier-league-and-frontrow-fire-245-people-as-startup-layoffs-continue/articleshow/91892557.cms" data-type="tilCustomLink" style="">As startup layoffs continue, Mobile Premier League and FrontRow fire 245 people</a>

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