First, let’s decode the system
Most Indians own at least one policy. Almost none of us know what it actually covers. Here is the lay of the land — then scan yours to see where you stand.
First, let's decode the system
Most Indians own at least one insurance policy. Almost none of us know what it actually covers. Here's the lay of the land in 60 seconds — then scan yours to see where you stand.
57+ Cr
Active policies in India
Life + non-life combined
4.2%
Insurance penetration
% of India's GDP
~9%
Health claim rejection
Industry avg, IRDAI 2024
0.7
Policies per adult
Most own one or none
Six types of insurance every Indian should know
Health
Most-boughtHospitalization, surgery, daycare. Individual or family floater.
Life
Tax-savingTerm (pure cover), ULIP (cover+invest), Endowment, Whole Life.
Motor
MandatoryThird-party (mandatory by law), Comprehensive (covers your car too).
Home
UnderboughtStructure + contents. Rare in India — underbought, undervalued.
Travel
Per-tripTrip cancellation, medical abroad, lost baggage. Domestic + International.
Commercial
B2BProperty, liability, cyber, marine. For businesses, not individuals.
Major insurers in India (the names you'll see on PDFs)
Health
Star Health · Niva Bupa · HDFC ERGO · ICICI Lombard · Care Health · Aditya Birla
Life
LIC · HDFC Life · SBI Life · ICICI Prudential · Max Life · Bajaj Allianz Life
Motor
Bajaj Allianz · HDFC ERGO · ICICI Lombard · Tata AIG · New India Assurance · Reliance General
Travel
Tata AIG · Bajaj Allianz · Reliance General · HDFC ERGO · ICICI Lombard
Home
HDFC ERGO · Bajaj Allianz · Tata AIG · ICICI Lombard · New India Assurance
PoliciesXray works with PDFs from any Indian insurer. We don't represent or take commissions from any of them.
Five clauses that quietly destroy claims
These are the most common reasons Indian claims get reduced or rejected. They're legal, disclosed in the policy, and almost never explained at the time of purchase.
Room rent sub-limit
Pick a room above 1-2% of SI and your entire claim gets proportionately deducted.
PED waiting period
24-48 months before pre-existing diseases are covered. Diabetes, BP, thyroid usually count.
Co-payment
10-20% of every claim you pay out of pocket. Often kicks in above age 60.
Cashless network
Only listed hospitals do cashless. Outside the network = reimbursement (slow + paperwork).
NCB reset on claim
No-claim bonus often resets to zero on the FIRST claim. Years of stacking lost.
PoliciesXray flags all five (and 20+ more) automatically in 60 seconds. No reading 50 pages. No agent spin. Just the truth about what you bought.
Now that you know the landscape —
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Now see where your policy stands
You know the traps. Find out which ones are in your own document.
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