MAM
IAMAI to host summit on Digital Money for Digital India
MUMBAI: India’s internet economy is flourishing rapidly. With over 350 million internet users and over 213 million mobile internet users the future of digital in India seems to be bright.
With the growth of digital commerce, the digital payment industry has shown steady growth. According to IAMAI-IMRB’s Digital Commerce 2015 Report, 45 per cent of the online shoppers prefer cash on delivery as a mode of payment, 21 per cent prefer payment through debit card and 16 per cent via credit card. The other modes of payment, which are used are Internet Banking (10 per cent) as well as prepaid cash cards, mobile wallets etc (8 per cent).
With this framework, Digital Money 2015 Summit with the theme – Digital Money for Digital India – organized by the Internet and Mobile Association of India (IAMAI), gains significance.
The digital economy cannot be overlooked as various forms of digital payment are taking significance in India. digital payment is no longer restricted to e-commerce transactions now. White label ATMs, payment banks, mobile wallets, POS are all part of the digital payment ambit.
With different social sectors schemes by government and digital India gaining prominence and priority, this year’s Digital Money Summit has relevance like never before. While there are many industry leaders who will be speaking at the summit, the special address by eminent economist and Niti Ayog member Bibek Debroy is significant, as very few can be expressive like him on the importance of digital payment in the backdrop of digital India.
The Digital Money Summit will have industry representation from bankers, payment banks, and mobile wallets among others. The day long summit will have speakers like Bank of India chairman G Padmanabhan; PayTM founder Vijay Shekhar Sharma; ItzCash Card chairman and managing director Naveen Surya; RBL Bank head – strategy Rajeev Ahuja and Fino Paytech managing director and CEO Rishi Gupta.
Speaking about the Digital Money 2015 Summit, IAMAI president Dr. Subho Ray said, “India is in the cusp of digital revolution. No longer is digital payment a phenomenon of the urban elite. Today, the digital payment platform is the biggest enabler of financial inclusion. The summit this year will be interesting from the perspective of emergence of the platform and its relevance in digital India program.”
By keeping accord with the theme, Digital Money 2015 Summit will have sessions like Investor’s view on digital payments industry in India. They sessions will focus on Digital Money for Digital India – How can both complement each other?; E-Commerce – paving the way for digital money in India; Mobile money in India – the road map for growth; Payments banks – moving towards differentiated banking; etc.
Buying family medical insurance online in India has become a common option for individuals who want to secure health coverage for multiple family members under a single policy. However, many buyers are unsure about the exact steps involved in selecting and purchasing the right plan online.
In this guide, you will know the step-by-step process of buying family medical insurance online in India, along with the key factors to review before purchasing a suitable policy.
Step 1: Assess Your Family’s Healthcare Needs
Before buying online health insurance, check the healthcare needs of all family members. Check age, existing illnesses, regular medicines, and the likely need for hospital care later. This helps in selecting a suitable sum insured, policy type, and level of cover. It also reduces the chance of buying a plan that appears suitable but does not meet actual medical needs.
Step 2: Visit the Insurance Company’s Official Website
After understanding the family’s needs, visit the insurer’s official website and read the plan details carefully. Use the official platform to review eligibility, policy wording, waiting periods, cover details, exclusions, and renewal terms.
This step gives a clearer understanding of how the policy works before payment is made. It also helps avoid confusion caused by incomplete summaries on other pages.
Step 3: Compare Available Family Health Insurance Plans
A family medical insurance policy should be compared on factors beyond the premium. Review the sum insured, hospital network, room rent limits, pre- and post-hospitalisation cover, daycare treatment coverage, and waiting periods. It is also important to check treatment sub-limits and specific policy conditions.
Careful comparison helps determine whether a plan provides balanced coverage and whether its terms are suitable for the healthcare needs of the entire family.
Step 4: Choose the Right Policy and Start the Online Purchase
Once the options have been compared, select the policy that best fits the family’s medical needs and budget. Before starting the application, review the covered members, policy term, benefits, and main conditions again. This is an important stage because errors here can lead to the wrong cover amount, an unsuitable variant, or missing details that create problems during policy use.
Step 5: Calculate the Premium Using an Online Calculator
Use the online premium calculator before making the final choice. Enter the correct details, including age, city, number of insured members, and selected cover amount. The result helps in understanding the expected premium and whether the policy fits the annual budget. This step is useful because it allows cost and coverage to be reviewed together, instead of choosing a plan only because the premium looks lower.
Step 6: Fill in Personal and Medical Details
When filling in the proposal form, provide accurate details for each insured member. This includes name, date of birth, contact details, medical history, ongoing treatment, and previous insurance information if required.
Every answer should be complete and truthful. Incorrect or missing details can create difficulty later. Before you submit the form, read every section again and correct any mistakes.
Step 7: Make Payment Through the Secure Payment Gateway
After checking the form, go to the payment page and complete the transaction through the secure payment gateway. Review the premium, policy term, and entered details once more before confirming payment.
After the transaction is completed, save the receipt, reference number, or confirmation message carefully. Keeping this record is useful if you need to track the purchase or follow up on policy issuance later.
Step 8: Download and Keep Your Policy Document Safely
Once the policy is issued, download the policy document, schedule, and any related papers without delay. Read them carefully to confirm member names, policy period, sum insured, and major terms. Save a digital copy in a secure folder and keep a printed copy if needed. Proper record keeping makes future renewals, document checks, and policy servicing easier and more organised when information is required quickly.
Conclusion
Buying health cover online becomes easier when you handle each step with attention. From checking your family’s needs to reading the final document, every stage helps you make an informed choice. A careful approach can reduce mistakes, improve your understanding of policy terms, and help you choose coverage that matches your household’s medical needs, financial capacity, and long-term healthcare planning in a reliable way for your family over the long term.
