Premium quote from National Insurance co for Medi claim policy

[Narayanan Venkateshwaran]

The quote as we see is absolutely shocking.But how far we are justified in our resentment.NIICO is a commercial entity whose aim is naturally to make profit from a contract.The present quote is based on claims ratio of previous contract

If at all help has to come it should be by way of reasonable subsidy from individual banks.

What purpose is served by IBA  undertaking the exercise when policies are issued Bank wise after collection of premium.

IBA has no role at all .They can neither advise the insurer to reduce premium nor the banks to quantify subsidy. It is not  known which all Banks are factors for high claims ratio.

In the said scenario it will good if individulal banks make their own arrangenent with Insurer of their choice which will help in determing the premium as well as subsidy

Regards

CVNarayanan

[Chellappa Renganathan]

A Very Good Suggstion indeed.Each Bank can exclusively get insurance cover for serving employees as well as Retirees at affordable subsidised insurance Premium  rates duly  quoted.

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