Banking & Insurance 100 marks project topics

how do i download this project?????i cant figure out ......somebody please help....................................................desperately need this topic.............................................................................................................................
 
Re: Banking & Insurance 100 marks project topics

yes its true dat banking is 4 5th sem and insurance 4 6th sem.
 
Hiya... M doing my bbi. Can u plz suggest me sum really gud topic for my 5th sem. M just clueless. :SugarwareZ-197: Plz
 
PrincyMary said:
Hiya... M doing my bbi. Can u plz suggest me sum really gud topic for my 5th sem. M just clueless. :SugarwareZ-197: Plz
Click to expand...

hey princy, here are lots of topics of BBI projects posted by others.. here is the link of 100 topics on BBI project have a look and please use search option of site you can get many other topic on it,

http://www.managementparadise.com/f...nking-insurance-100-marks-project-topics.html

topics for 100 marks project for banking and insurance [Archive] - ManagementParadise.com - Your MBA Online Degree Program and Management Students Forum for MBA,BMS, MMS, BMM, BBA, students & aspirants.

http://www.managementparadise.com/f...topics-related-100-marks-finance-project.html

and if you require some help on any specific project please mention topic and important details about the project. then we can surely help you out...
 
Health Insurance - An Introdution
Health is wealth. Is that true? Of course, everyone wants to be healthy and this is why we say health is the greatest wealth in the world. Apart from a balanced meal, exercise, and so on, we need to have a health insurance to be in good health. Health insurance is, basically, a promise by an insurance company or health plan to provide or pay for health care services in exchange for payment of premiums.



Insurance policy has started since the 18th century. However, at that time, we had Accident Insurance. The first accident insurance company was Franklin Health Assurance Company of Massachusetts which was founded in the year 1850. This insurance was mainly offered because at that time there were a lot of accidents and injuries due to railroad and steamboat. Accident insurance agencies soon started sky rocketing. It was indeed very successful. People had started realising how important insurance is. In the year 1866, there were around sixty accident insurance companies which were set up and ultimately, the number of insurance companies kept on mushrooming.

Health insurance was proposed by Hugh the Elder Chamberlen in 1964. A health insurance is a contract renewable either monthly or yearly between the insurance company and the person. The Insurance company will provide you with a quotation of the insurance company. In the quotation, you will have the term of policy, that is how long are you covered with the health insurance. The duration of the health insurance will depend on the age of the insurance holder. If he is young, the insurance company may advise him to take a long term health insurance and if the person is old, it might be the contrary. Apart from age, there are other factors like health and income which are taken into consideration when quoting a health insurance. Some insurance companies also do a medical check up before provide a health insurance policy. In the quote, you will also find how much you have to pay on a monthly or a yearly basis. The health insurance quotation all consists of all the benefits which it covers. Certain health insurance covers the insurer 100% but certain not. There are several conditions which are applied. Different amount is paid in case of natural death, accidental death, loss of one limb or two limbs or in case of permanent disability.

There are mainly four different types of health insurance plan, which are namely:



Fee-for-Service Plans
Health Maintenance Organizations (HMOs)
Point-of-Service Plans (POS)
Preferred Provider Organizations (PPOs)
These four different types of insurance may have different names however their goal is to provide medical care to people. Fee-for-service plan is the more affordable plan. However it has got some limitations. Preferred Provider Organization has got more options; however, this is the most expensive. Its up to you to decide which type of insurance is the best and which one you would like to purchase.

To get a better medical care, it is very important to have a good health insurance plan. You have health insurance companies all around your country; however, you have to decide which one is the best and will provide you with the best medical facilities. You can have health insurance quotes of different companies online. You can compare the price as well as the medical benefits which are provided by the health insurance company on the internet along with its quote.

Since health insurance has now become a necessity, do not waste time, get connected to the internet, compare prices and benefits and purchase a good health insurance.
 
. Introduction:

Health insurance provides coverage for medicine, visits to the doctor or emergency room, hospital stays and other medical expenses. Policies differ in what they cover, the size of the deductible and/or co-payment, limits of coverage and the options for treatment available to the policy holder. Many people receive health insurance from their employer as a benefit, but others must shop around for the right policy.

II. Health Insurance Policies:

Health Maintenance Organization (HMO)

An HMO is a type of managed health care system. A group of doctors and other medical professionals offer care through the HMO for a flat monthly rate with no deductibles. However, only visits to professionals within the HMO network are covered by the policy. All visits, prescriptions and other care must be cleared by the HMO in order to be covered. Your primary physician within the HMO will handle referrals.

Preferred Provider Organization (PPO)

A PPO is similar to an HMO, but care is paid for

as it is received instead of in advance in the form of a scheduled fee. PPOs may also offer more flexibility by allowing for visits to out-of-network professionals at a greater expense to the policy holder. Visits within the network require only the payment of a small fee. There is often a deductible for out-of-network expenses and a higher co-payment. You will have a primary physician within the network who will handle referrals to specialists that will be covered by the PPO. After any visit, you must submit a claim and you will be reimbursed for the visit minus your co-payment.

Fee-For-Service (FFS)

FFS plans (also called indemnity plans) allow for visits to any medical professionals. These plans are extremely flexible, allowing you to make most of the decisions about your personal care. After the visit, you pay the bill and then submit a claim to the insurance company for reimbursement. The only limitations are that services provided must be specified in the policy in order for a claim to be accepted. These plans fall outside the label of managed care, and the result is higher deductibles and co-payments.

Medicare

Medicare is a federal program which provides health insurance for qualified individuals over the age of 65. Enrolled individuals must pay deductibles and co-payments, but much of their medical costs are covered by the program. Medicare is less comprehensive than the above programs, but it is an important source of

post-retirement health care.

Medicare is divided into three parts. Part A covers hospital bills, Part B covers doctor bills, and Part C provides the option to choose from a package of health care plans. You should enroll as soon as you qualify because, at that time, you can receive coverage even if you have health problems. Later you may no longer qualify, so this free period is very important.

COBRA and HIPAA -

COBRA is a federal program that allows employees to remain on their company health plans for up to 18 months after leaving the employer by paying insurance premiums out of pocket. The system is designed to prevent people who are between jobs from experiencing a lapse in coverage.

HIPAA is an Act of Congress that gives people the right to insurance coverage from any provider as long as they have been covered by a group policy in the previous 63 days. Even people with serious illnesses must receive coverage from any carrier if they can pay the premium costs, which are not regulated by HIPAA.
III. Choosing a Policy:

Managed care (such as an HMO or PPO) offers significant coverage at a low cost in premiums and deductibles. However, the plans can be inflexible and some visits, medications and treatments may not be approved by the insurer. Indemnity plans (FFS) are more expensive overall and per visit, but you can manage your own care as long as it falls within the guidelines for coverage in your policy. Group coverage, such as that available from your employer, usually offers more

coverage at a lower cost than individual policies. Group coverage is usually preferable when it is available. Policy coverage ranges from only catastrophic illness ("major medical") to every doctor's visit. Your needs will depend on your health history, the amount of insurance you can afford, and the needs of your dependents.

Policies may include provisions for dental care, eye care and prescription drugs, or additional policies can be purchased to cover these expenses. Plans should be scrutinized for information about in-network and out-of-network coverage and responsibilities because the coverage in each situation can vary from company to company.
 
Introduction
The Constitution of India envisages the establishment of a new social order based on equality, freedom, justice and the dignity of the individual. It aims at the elimination of poverty, ignorance and ill health and directs the State to regard the raising of the level of nutrition and the standard of living of its people and the improvement of public health as among its primary duties, securing the health and strength of workers, men and women, specially ensuring that children are given opportunities and facilities to develop in a healthy manner.

Going by the facts and figures, India occupies 2.4 per cent of the world's land area occupied by 16 per cent of the world's population. India is the second most populous country in the world, after China. Roughly 16 million people are added every year, which is equivalent to the total population of Australia. Annually, world's population increases by about 78 million and India accounts for one-fifth of the increase.

We have already crossed 1 billion mark and it is projected that in the year 2050 it will increase to the extent of 1533 million. The table below speaks of the growth rate of population.



Health Insurance In India
Provision of healthcare by the Public Sector is the responsibility shared by Central, State and Local Governments, but over the years the National spending on Health under five year plans has decreased from 3.3% in the first plan to 0.7% in the eighth plan. Approximately 6% of GDP is spent on Health care out of which only 1.3 % is in Government Sector. Even then the Life expectancy has increased from 50 to 61 and infant mortality has decreased from 137 to 74 per 1000 births.

India still believes that primary Health Care is the basic right to which people should not be denied access due to inability to pay.



Population under various plans
MEDICAL BENEFIT
Under the E.S.I. Scheme, medical facilities are provided to workers and their dependants from Day one of their entering the insurable employment.

Medical services are being provided through a vast network of service outlets comprising 133 Hospitals, 43 E.S.I. Annexes, 1452 E.S.I. dispensaries 327 diagnostic centres and five occupational disease centres. In addition 2722 Insurance Medical Practitioners are providing medical care to insured population through private clinics in a few states.



Types of health coverage available in India
MEDICLAIM POLICY
SALIENT FEATURES
This policy provides for reimbursement of expenses incurred for hospitalisation / domiciliary hospitalisation in India for the treatment of any illness or disease or accidental injury (not specifically excluded) suffered during the policy period.

Reimbursement of expenses under hospitalization is provided only when treatment is taken as an in-patient in a hospital/nursing home in India.
The policy also reimburses relevant medical expenses incurred upto 30 days prior to and 60 days after hospitalisation subject to the overall sum insured.
 
Introduction to Health Insurance in India
January 7th, 2010 | Email This | Print This Post | 156 comments
How many accident you need to realise that you need Health Cover? It takes just one visit to a hospital to make us realize how vulnerable we are, every passing second. For the rich as well as poor, male as well as female and young as well as old, being diagnosed with an illness and having the need to be hospitalized can be a tough ordeal. Heart problems, diabetes, stroke, renal failure, cancer – the list of lifestyle diseases just seem to get longer and more common these days. Thankfully there are more speciality hospitals and specialist doctors – but all that comes at a cost. The super rich can afford such costs, but what about an average middle class person. For an illness that requires hospitalization/ surgery, costs can easily run into five digit bills. A Health insurance policy can cover such expenses to a large extent. Read why Health Insurance is more Important these days compared to Old days



Types of Health Insurance

There are mainly three types of Health Insurance covers:



Individual Mediclaim : The simplest form of health insurance is the Individual Mediclaim policy. It covers the hospitalization expenses for an individual for up to the sum assured limit. The insurance premium is dependent on the sum assured value. Example : If you have 3 family members you can get an individual cover of Rs 2 lacs each . In this case each of you are covered for 2 lacs , if 3 members face a need for hospitalization , all 3 of them can get expenses recovered upto Rs 2 lacs . All the 3 policies are independent .
Family Floater policy : Family Floater Policies are enhanced version of the mediclaim policy. The sum assured value floats among the family members. i.e each opted family member comes under the policy, and it covers expenses for the entire family up to the sum assured limit. The premium for family floater plans is typically less than that for separate insurance cover for each family member. Example : In this case if suppose there are 3 family members , you can take a Family floater policy for Rs 6 lacs in total . Now anyone can claim upto 6 lacs in expenses , but then the cover will go down by that much amount for that year . So if one of the family member is hospitalised and the expenses are 4.5 lacs . It will be paid and then the cover will be reduced to 1.5 lacs for that particular year . Next year again it will start from fresh 6 lacs. Family floater makes sense for a family because that way each one in family gets a big cover and probability of more than 1 getting hospitalized in same year is too low untill and unless whole family is travelling together most of the times in a year .
Unit Linked Health Plans : Taking the ULIP route, health insurance companies too have introduced Unit Linked Health Plans. Such plans combine health insurance with investment and pay back an amount at the end of the insurance term. The returns of course are dependent on market performance. These plans are very new and still in development phase . This is only recomended for people who can handle market linked products like ULIP and ULPP . Read who should buy ULIPs .
For a number of reasons, it is advisable to steer clear of unit linked health plans. The best way is to treat insurance purely as an expense. So if you are single, opt for an Individual Mediclaim policy and if you have family, opt for a Family Floater policy. The amount paid (by cheque or debit/ credit card) for health insurance premium provide tax exemption under section 80D for a maximum of Rs.15,000.

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What is the Ideal Cover for Health Insurance

As mentioned earlier, the cost of Health Insurance depends on the sum assured , age, current health condition and your previous medical history. Higher the sum assured, higher the premium. So what is the ideal health insurance cover requirement? There is no standard answer or thumb rule for this. If we agree that health insurance is important, one has to look at his/ her own lifestyle, health condition, age/ life stage, family history of illnesses and affordability. Keep in mind that most insurance companies limit the sum assured to a maximum of 5 lakhs. Also note that many health insurance policies “provide additional benefits” such as daily allowance, ambulance charges, etc. for hospitalization. Not only are such “benefits” superfluous, they tend to drive the premiums higher. So it is best to avoid such plans and stick to something basic and simple.



Image courtesy

Health Insurance provided by Employer

Many employers provide health cover for their employees. Isn’t that sufficient? Three aspects need to be considered in such a case – Is that cover sufficient? Is the insurer good enough? What happens if you change your job? Health insurance is provided as a perk to the employees. So it is important to understand the policy a bit more in detail and to check for coverage. The best way is to ask the HR Department for policy details. Get into details , what is covered , what is not covered ? Many times Employees just think that they have health Insurance and are just relaxed only to find later that it does not cover X and covers Y only upto a limit . That can be a painful situation .

Health Insurance for the aged

Till a few years back, health insurance companies were reluctant to provide cover for the aged. But nowadays there are a lot of insurance companies providing policies for the senior citizens. Insurance cover paid for a person of age 65 years and above, can provide additional tax exemption of up to Rs.20,000. But keep in mind that the premium rates are higher for senior citizens. For the employed, another option is to approach the employer to negotiate with the official insurer to provide an option for additional cover to parents. Since the volumes are high, the insurer can provide such added cover at attractive premium rates.

One of our readers Pattu has shared a great calculator which he discussed in his comment is uploaded here , If you want to download it , Click here

Tax Exemption from Health Insurance Premiums

Sec 80D covers Health Insurance . You can get exemptions of

Upto Rs. 15,000 paid for self + spouse + cildren.
Upto Rs 15,000 paid for Parents (Rs 20,000 if parents are senior citizens)
So in total if you pay your health insuance and your parents health Insurance premium , you can save upto maximum of 35,000 .

Note : If you take Health Insurance riders with Term Insurance like Critical Illness cover , the extra premium paid for that will be actually be covered under Sec 80D , not sec 80C . See Tax Rules

What is TPA (Third Party Administrators) ?

TPA stands for Third Party Administrator. TPA is a middlemen between Insurer and the Customer . Customer can directly deal with TPA at the time of claim and TPA will help with with all the process of claim settlement . A TPA is a specialized health service provider rendering variety of services like networking with hospitals, arranging for hospitalization and claim processing and settlement. The concept of TPA has been introduced by the IRDA (Insurance Regulatory and Development Authority of India) for the benefit of both the insured and the insurer. While the insured is benefited by quicker & better health service, insurers are benefited by reduction in their administrative costs, fraudulent claims and ultimately bringing down the claim ratios. An insurance company can have more than one TPA and a TPA can serve more than one insurance company. Some of the services TPA provides are

Maintain database of policyholders
Issue of identity card to all policyholders
Provide ambulance service
Provide information to policyholders about hospitals.
Check various investigations
Provide Cashless service
Process claims
Health Insurance Claims settlement process

A bit on how health insurance claims processing works. In most cases, the Insurance companies appoint a third part administrator (TPA) for claims processing. That means once the health insurance policy is sold, the insurer passes on the baton to the TPA. In case of a claim, the insured has to get in touch with the TPA for all versification and formalities.

There are 2 ways by which health insurance claims are settled:

Cashless : For availing cashless treatment (only at authorized network hospitals), the TPA has to be notified in advance (for planned hospitalization) or within the stipulated time limits (for emergencies). The insurance desk at hospitals usually helps with all paper work. The claim amount need to be approved by the TPA, and the hospital settles the amount with the TPA/ Insurer. Typically there will be exclusions and such amount will have to be settled directly at the hospital.
Reimbursement : Reimbursement facility can be availed at both the network and non-network hospitals. Here the insured avails the treatment and settles the hospital bills directly at the hospital. The insured can claim reimbursement for hospitalization by submitting relevant bills/ documents for the claimed amount to the TPA.
The TPA mode of claims settling has its own problems. The TPA is incentivized to limit insurance claims and they are not the one’s who sells the policy. There are many cases where the insured had a tough time to claim for his hospital expenses. So before taking health insurance it would be useful to check who the TPA is and how good are they when it comes to claims processing. Internet search and a friendly chat with the hospital staff can give you good insight on the insurer/ TPA. There are also some health insurance providers who do not employ TPAs and does claims settlement directly (this is called Inhouse TPA) .

Comments , What are the best health Insurance policies you are aware of ? Do you feel it makes sense to buy health insurance at early stage or after getting married only ? Please share your views on this
 
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