Arogya Sanjeevani policy is a new, standard health insurance policy formulated by the IRDAI and will be offered by all health insurance companies in India starting from 1st April 2020 onwards. The name of the policy will be ‘Arogya Sanjeevani Policy – Insurance company name’. The coverage and terms & conditions of this policy are universal for all twenty-nine health insurance companies. The buyer has the choice to purchase this policy from any insurer. However, the premium rates and customer service can vary from one insurance company to another. It is suitable for lower and middle-income group families who have […]

Nassim Nicholas Taleb brought the concept of Black Swan events. In statistics, it is interpreted as a 1% chance event which is beyond the mean and three standard deviations. In actuarial science, this is called extreme events. The history of mankind has been shaped by Black swan events. Coronavirus originated in Wuhan province of China and in a matter of three months has brought the entire world into crises; medical systems, economy, the daily life of citizens. Currently, it is total uncertainty about the future across 199 nations of the world. But there is a positive side to it also. […]