{"id":3716,"date":"2020-11-26T20:24:30","date_gmt":"2020-11-26T14:54:30","guid":{"rendered":"https:\/\/www.finsafe.in\/financial-wellness\/?page_id=3716"},"modified":"2022-11-18T13:46:34","modified_gmt":"2022-11-18T08:16:34","slug":"oct-2020-monthly-updates","status":"publish","type":"page","link":"https:\/\/www.finsafe.in\/financial-wellness\/oct-2020-monthly-updates\/","title":{"rendered":"monthly updates"},"content":{"rendered":"\t\t
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10) From 1st Oct Oct 2020, a host of new guidelines related to health insurance have come into effect which will now include mental illness, stress, etc as part of health insurance cover. New credit and debit card rules have also come into effect from Oct 2020<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Particulars<\/td>\nOld<\/td>\nNew<\/td>\n<\/tr>\n
Health insurance guidelines<\/td>\n\n
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  • Mental illness, stress or psychological disorder, illness contracted due to hazardous activity, etc. not covered in health insurance products.<\/li>\n \t
  • Any disease or ailment diagnosed by a physician 2 to 3 years before the issuance of health cover would be categorized as pre existing.<\/li>\n \t
  • Waiting period of treatment of lifestyle diseases was same as pre existing conditions, i.e 2 to 3 years.<\/li>\n \t
  • Tele medicine not included in health insurance policies.<\/li>\n<\/ul>\n<\/td>\n
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  • Mental illness, stress or psychological disorder, illness contracted due to hazardous activity, etc. will be covered in health insurance products from 1 Oct 2020.<\/li>\n \t
  • Ailments diagnosed 48 months before the issuance of health cover to now be categorized as pre existing. Any new condition within 3 months of buying the policy would also be considered pre existing.<\/li>\n \t
  • Waiting period for treatment of lifestyle diseases reduced to 90 days.<\/li>\n \t
  • Tele medicines to be included in health insurance policies from 1 Oct 2020.<\/li>\n \t
  • Claim can not be rejected after 8 continuous years of coverage.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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    Particulars<\/td>\nOld<\/td>\nNew<\/td>\n<\/tr>\n
    Tax Collected At Source<\/td>\n\n
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    • No TCS for amount remitted before 1 2020<\/li>\n<\/ul>\n<\/td>\n
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    • From 1 Oct 2020, for foreign remittances above Rs 7 lakhs, TCS to be levied at the rate of 5%.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
    New Debit & Credit card rules<\/td>\n\n
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    • All credit and debit cards are enabled for use both within India and abroad by default.<\/li>\n \t
    • Transaction limit on credit and debit card is set by the bank themselves based on various parameters.<\/li>\n<\/ul>\n<\/td>\n
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    • Oct 2020, all credit and debit cards being issued\/ re-issued would be enabled for use only within India by default. You need to request bank for international facility. Within your eligible limit, you can decide and set the transaction limit on your credit and debit cards.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n