Insurance blog – Life Insurance | Car Insurance | Travel Insurance | Health Insurance

In India, insurance is a risk management factor. This is used to manage the uncertainties of a family after a demise, injury or destruction. Insurance provides financial security to an individual after facing major risks in property, health, life and legal liability. The requirement for an insurance is a dynamic factor for every citizen of the country. The government has taken a lot of steps to ensure its highly growing population. Increase in insurance is directly proportional to the growth

Health Insurance is a type of insurance that gives coverage of medical and surgical expenses of an individual. As you all know that the medical or the surgical expenses are increasing day by day. Nowadays it has increased so much that many people can’t afford the expenses. So for them, only health insurance will help them a lot. They will provide money in the clinic, hospitals, Healthcare, Practitioner and pharmacy for the treatment of the individuals. In the emergency departments,

As you all know that life is full of risks and insecurities. We don’t know what is going to happen to us even in the next few minutes. Now we are fine but in the very next moment maybe some unforeseen incident can happen to us. There are some of the things that are very important for our family. They are home, cars, shops, etc. In this matter, the general insurance will play an important role in our life.

Motor insurance is basically a documentation in case any uncertainty happens with the vehicle. This insurance is done for cars, trucks, motorcycle or any other vehicles. In order to provide protection for financial loss or any of the legal issues, motor insurance is done. Coverage is provided for the uncertainty which includes physical damage, injury, theft, any loss due to natural disaster and death cover for the third party liability. Most of the insurance support instant claim and compensation amount

Life insurance is a documents assurance given by the insurer to pay a sum of money upon the death of the insured. The insured is required to pay a premium on a yearly basis. This is the amount the insurer covers up on the death of the individual. Life insurance is essential for every individual as it provides financial security for survival after the death of the insured. This benefit given after the death of the individual is called death

What are the investment plans?

Investment plans are basically a financial asset that provided security to your future and provide enough opportunity for you to think beyond the basics. Most of the insurance plans are somewhere amalgamated to provide enough investment seeking for a wealthy future. These investment plans are broadly divided into 2 types.

• First, which providesreturn based services.

• The other one where the amount is paid only after the policy get matures.

What is meant by the agriculture plan?

Agriculture is one of the largest primary occupations in India. It is the prominent sector that provides food to our country. The cropping pattern may undergo changes due to climatic changes and calamities. Farmers will require funds to recover from natural disasters like storms, heavy rainfall, flood, lightning, drought, cyclones, landslides and so on. There are a number of general insurance agriculture plans available for farmers. The Agricultural Insurance Company of India Ltd

What is meant by the retirement plans?

Retirement Plans actually helps you to design a systematize way for your financial events once you are done with your job. These plans convey enough financial security and assurance of certain amount which makes things quite easy for you to execute. Following the best life insurance retirement plans you get to live your life with the standards you have always followed without compromising on any segment. Retirement plants are actually a kind

What is a personal accident insurance?
Accidents are unexpected and sometimes maybe fatal. In such cases, you will have to spend a lot to recover and come back to normal. That is why you will need a general insurance personal accident quote. A personal accident insurance is very different from life and health insurance. The general insurance personal accident plan covers you during a severe accident or physical illness. Life and health insurance cover only after your death or

Income Replacement is a broad term for the amount that is outsourced or invested in an alternative way from the regular income. It is far different from the individuals monthly or regular source of income. In the long run, best life insurance income replacement plans undoubtedly serve the need. As the specified amount of money or income is one of the most important financial assets of any individual, hence the investment of other incoming amounts must be

Firstly a Monthly Income Plan or MIP is a type of scheme that is mainly related to the mutual fund. In this scheme, the person will receive some amount of money each and every month. In the monthly income plan, you will receive the money after the few months of the deposit of your premium. If you are buying this plan, then your 70% to 80% of income will go to the debts funds and the remaining to the stocks.

Money back life insurance policies are the most widespread type of insurance policies in India. They are mainly used for the financial security of your family. The major feature is the survival benefit. This benefit is a sum of money paid to you by the insurer for your family needs. Themoney back planspay you the survival benefit after you start the policy until the maturity. Money back life insurance quotes are unlike the general insurances that cover you only at

An insurance with short term planis given for a short period of time. The policy term will generally be for a year or a few months. You can choose this life insuranceshort term plan for expenses that can be utilized after a few years of investment. Insurance policies with short terms are available for life and health insurances. These policies give the benefit of low premium costs.
You can easily join an online life insuranceshort term plan with the

What is meant by Micro insurance?

Firstly, a micro insurance is a type of insurance policy that is specially developed for low-income people. This type of policy insurance is designed for people to buy insurance coverage who can’t afford to buy the costly insurance. The online generalinsurance micro insurance plans help the low-income people against the suddenly occurring unforeseen events.

What are the sectors does the micro insurance plans covers?

The followings are the sectors which

What is an asset insurance plan?

The better investment or most assured amount with the investment is not the actual benefits. When the people and their lives are secured along with the materialistic things say it is vehicles, machinery or other equipment then here lies the most profitable investment. In order to get the peace of mind and financial security, a best asset insurance plan meets the requirement. These plans cover most of the financial assets providing you with

What is a travel insurance plan?

There are lots of people who love to travel from one state to another or from one country to another to spend their vacation with the family or friends. So the travel insurance plan is specially designed for them. Travel insurance plan is a type of insurance policy that covers all the sudden occurring unforeseen events that take place in travelling to abroad or within India.

Online general insurance

The term insurance is applicable for life insurances that covers you over a period of time. If the insured dies between that periods, the death benefit will be availed. Life insurance is compulsory for every individual. This benefits the entire family if the insured dies. The family gets a death benefit. This is the major purpose of a life insurance. You need to pay the premium as an amount

What is Mediclaim?
The ever increasing cost of healthcare and the rise of lifestyle diseases have made it necessary to have health insurance in India. Further, medical emergencies are expensive and having a mediclaim health insurance policy can help ease the financial strain that comes with hospitalization. A mediclaim plan is an insurance product that offers health cover up to the sum insured in the case of hospitalization.
The insurer either reimburses or enables you

With the rise of a number of deaths related to treatable critical illnesses, there is a need for one to give preventive healthcare the seriousness it deserves. Preventive healthcare helps one to identify and manage diseases in the earliest stage possible. A preventive healthcare insurance policy is designed for this specific purpose.
The best preventive healthcare insurance plan caters for regular check-ups and takes the family history of a policyholder into account. This is done through regular scheduled check-up

A third Party Insurance policy is the most basic motor insurance plan there is in India. Sometimes referred to as Act Only coverage, this is a legal requirement that is found under the Motor Vehicles Act. This type of insurance aims to compensate the third party in case of an accident. The term third party represents a person, vehicle and property other than the insurance company and the insured.

Why do you need third party insurance?

Apart from a legal

Taxi insurance policy

Getting the best motor insurance plan is every car owners’ desire. That is why it is essential that you get the right plan when searching for your taxi insurance policy. A taxi car requires a different insurance plan from your personal vehicle due to the nature of its everyday use.

Five reasons why taxi insurance is different from your car insurance

• A taxi is likely to cover more distance during its lifetime than

An insurance policy prevents a medical emergency from escalating into a financial emergency. As we age, so does our ability to withstand illness and the best senior citizens health insurance policy available is ideal to mitigate the cost of medical attention. A senior citizen is anyone above the age of 60 years retiring or on a pension. Age-related illnesses are expensive to maintain and to protect senior citizens from worry about their finances in the twilight years a health insurance

Over the years the cost of healthcare has been increasing steadily and in most occasions faster than income growth. To assist you from financial ruin due to illness, insurance companies have a cover specifically designed for this. An individual health insurance policy meets medical costs such as surgical expenses depending on the terms of your health insurance policy. A health insurance policy protects you from financial ruin at a time of illness and is reliant on the premiums the insured

There has been a rise in the number of fatal accidents leading to death or disability that are occurring in India in recent years. A personal accident insurance policy though not preventing the accident from taking place provides a soft cushion for the insured. This is because it provides benefits in case of partial and total disability, as well as death benefits. It also caters for ambulance and hospitalization costs and repair costs for damaged property and

Health insurance is an ideal way to protect your loved ones and yourself from financial ruin due to illness. It ensures that your expenses are reimbursed or better yet you get to enjoy cashless treatment when the need arises. A Family Health Insurance Policy covers members of a family i.e. spouses, children, in-laws and parents. Although it covers your family from the ever-rising cost of medical attention, there are limitations and exemptions to your policy. It is

Critical illnesses are diseases and conditions that include but are not limited to cancer, stroke, organ transplants, and kidney diseases among other health conditions. Critical illnesses are expensive, disruptive to one’s way of life and may lead to disability. A critical illness health insurance policy helps you to mitigate such emergencies which if unattended would be fatal by providing an affordable illness plan.

A sum of the assured amount is paid to the policyholder by the insurance company if diagnosed

Very few people have cash that they can easily access in case of a medical emergency forcing most into debt. Thanks to a health insurance policy known as cashless hospitalization one can get admitted and access medical attention without having to pay with your money. A cashless hospitalization health insurance policy is limited to only hospitals in your insurer’s network.

Your insurer covers your medical, surgery and laboratory test fees depending on the nature of your cover. As a policyholder,

Taxi insurance policy

Getting the best motor insurance plan is every car owners’ desire. That is why it is essential that you get the right plan when searching for your Taxi Insurance Policy. A taxi car requires a different insurance plan from your personal vehicle due to the nature of its everyday use.

Five reasons why taxi insurance is different from your car insurance

• A taxi is likely to cover more distance during its lifetime than the

This is a mandatory motor insurance plan that seek to protect the policyholder in case of an ill-fatedincident such as an accident or theft. The best car insurance plan protects you and your car from legal charges resulting from physical damage caused to you and your car by a third party. Having your vehicle insured is the best way to protect your car and self from careless drivers or unforeseen natural calamities.

In case of an accident, a policyholder will

An insurance plan taken to cover a motorcycle and the rider from uncertainties such as accidents and theft is known as a Two Wheeler Insurance Policy.It is a mandatory motor insurance plan that seek to protect the policyholder in this case the rider from legal charges resulting from physical damage caused to the rider and their motorcycle by a third party. The best motorcycleinsurance policy protects your motorcycle and self from careless drivers or unforeseen natural calamities.

Commercial vehicle motor insurance plan

A commercial Vehicle is one that is used to ferry goodor passengers at a fee. These vehicles are prone to accidents due to time spent on the road and also uncertainties that are around us such as natural calamities. With this in mind your commercial vehicle requires a commercial vehicle insurance policy. It is also noteworthy that being a source of income to your driver and yourself, commercial vehicles do require some protection.

A commercial

A life insurance term plan is an insurance product that provides financial shelter to the beneficiary of the policyholderfor a limited period of time. The beneficiary, who normally is a family member, can claim death benefits in case of demise of the policyholder from an insurance company. This is because the best life insurance term plans are designed to protect the family of a policyholder financiallyduring the term of the policy.
The payout of the benefits can be lump-sum,

Formalities for making a travel insurance claim
A travel insurance policy is generally a package policy that includes different types of covers like hospitalisaiton, personal accident, loss/ damage to baggage, loss of passport and so on.
The procedure and documents required for a claim would vary from cover to cover. All of them would be mentioned in your policy document.
For ease of procedure and your convenience, insurers normally attach the claim form with the policy document.

Formalities for making a property insurance claim

There could be several types of policies that cover property and the property itself could be stationery – like a building, or moving around – like your household goods being transported.

When you receive your policy familiarise yourself with the documents required for a claim as well as the procedures to be followed.
Whether or not a claim arises you must follow the various dos and don’ts  in respect of your property

Formalities for a motor insurance claim

A claim under a motor insurance policy could be

• For personal injury or property damage related to someone else. This person is called a third party in this context) or
• For damage to your own, insured, vehicle. This is called an own damage claim and you are eligible for this if you are holding what is known as a package or a comprehensive policy.

Third Party Claim
In a third party

Formalities for a health insurance claim

You can make a claim under a Health insurance policy in two ways:

1. Cashless basis and
2. Reimbursement basis

On a Cashless basis: For a claim on cashless basis, your treatment must be only at a network hospital of the Third Party Administrator (TPA) who is servicing your policy. You have to seek authorization for availing the treatment on a cashless basis as per procedures laid down and in the prescribed form. Please read

Formalities for a death claim

When a person with a life insurance policy – called a life assured – dies, a claim intimation should be sent to the insurance company as early as possible. The assignee or nominee under the policy can do this. So can any close relative or the agent who handles the policy.

The claim intimation should contain information like the date, place and cause of death. The insurance agent has the duty to help the life

The Motor Vehicles Act, 1988 is a piece of social legislation and its provisions are designed to protect the rights of road accident victims where the identity of motor vehicle causing the accident cannot be established.   The relevant legal provision is enshrined in Section 161 of Motor Vehicles Act where a  “hit and run motor accident” is defined as an  accident arising out of the use of a motor vehicle or motor vehicles the identity whereof cannot be ascertained

Each of us has to make every reasonable effort to reduce losses by preventing accidents, preserving health preservation and fire protection.
Accidents not only injure people, damage machinery and property and destroy materials. They also cause needless personal suffering, inconvenience, and problems.
Most accidents can be prevented by taking common sense precautions.

• Road Safety
• Home Safety
• Fire Safety
• Personal safety

Insurance Regulatory and Development Authority of India (IRDAI) has created a special category of insurance policies called micro-insurance policies to promote insurance coverage among economically vulnerable sections of society. The IRDA Micro-insurance Regulations, 2005 defines and enables micro-insurance.

A micro-insurance policy is:

• A general or life insurance policy with a sum assured of Rs 50,000 or less

A general micro-insurance product is any:

• Health insurance contract
• Any contract covering belongings such as
• Hut
• Livestock
• Tools or

• In 2006/2007 when some insurers drastically raised hospitalization policy premiums, it laid down a cap for such revision
• A Committee on Health insurance for Senior Citizens was constituted to go in to special requirements
• A large number of recommendations of this committee were implemented
• IRDAI has also issued the