What is Life Insurance?
'Life insurance' is a contract between the policy holder and the insurer, where the insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy holder agrees to pay a premium - stipulated amounts at regular intervals or in lump sum.
Why is Life Insurance needed?
Losing your near and dear ones is a traumatic experience that only time can heel. But if your family is left without sufficient finances or means of income, it presents a big financial crisis for the rest of their future. The family's future needs to be adequately protected to ensure that the basic needs and their future goals are met and not sacrificed or compromised.
In present times, getting financial security for your near and dear ones is thereof of utmost importance. It is the foundation of your family's financial well-being and is something that cannot be ignored, compromised or postponed.
In present times, getting financial security for your near and dear ones is thereof of utmost importance. It is the foundation of your family's financial well-being and is something that cannot be ignored, compromised or postponed.
Advantages of life Insurance
- Risk Cover and financial security in your absence- It also helps cover loans taken by the policyholders so that, in case of any unforeseen event, the burden of repayment does not fall on the family.
- Planning for life stage needs - Life Insurance policies can also help build long term investment and help you meet your life goals, like children's education, their marriage or retirement.
- Protection against rising health expenses - Life Insurers through riders or stand alone health insurance plans offer the benefits of protection against critical diseases and hospitalization expenses
- Inculcate savings habit - Being a long-term contract, regular savings is promoted by way of premium payments
- Safe and regulated - Insurance is a highly regulated sector and IRDA, the regulatory body, through various rules and regulations ensures that the safety of the policyholder's money is the primary responsibility of all stakeholders. Also Life Insurance being a long-term savings instrument, ensures that the life insurers focus on returns over a long-term and do not take risky investment decisions for short term gains.
- Protection plus savings over a long term - Since traditional policies are viewed both by the distributors as well as the customers as a long term commitment; these policies help the policyholders meet the dual need of protection and long term wealth creation efficiently.
- Tax Benefits - Insurance plans provide attractive tax-benefits for both at the time of entry and exit under most of the plans.
What is Health Insurance?
Health insurance is a type of insurance whereby the insurer pays the medical costs of the insured if the insured becomes sick or injured due to covered causes, or due to accidents. The insurer may be a private insurance company or a government agency.
The insurance may pay for medicine, visits to the doctor, hospital stays, other medical expenses and loss of earnings, depending on the conditions covered and the benefits and choices of treatment available on the policy.
The insurance may pay for medicine, visits to the doctor, hospital stays, other medical expenses and loss of earnings, depending on the conditions covered and the benefits and choices of treatment available on the policy.
What is Personal Accident Insurance?
Personal Accident Insurance covers in the event of the person sustaining bodily injuries resulting solely and directly from an accident caused by external, violent and visible means, resulting into death or disablement (partial/total). It pays for injuries sustained, occurred anywhere in the world.
What is Travel Insurance?
Travel Insurance is one of the most important requirements before a trip is planned. Travel Insurance provides coverage against a variety of risks related to travel, and more importantly, provides coverage against medical treatment that may arise as a result of unexpected complications during travel. It covers transportation, accommodation, legal/medical expenses, and daily allowances.
Travel Insurance takes care of risks like Medical Expenses, Lost or stolen Luggage, Flight Cancellations, Accidents, and other losses that a traveller can incur while travelling.
Travel Insurance takes care of risks like Medical Expenses, Lost or stolen Luggage, Flight Cancellations, Accidents, and other losses that a traveller can incur while travelling.
Why Health Insurance is needed?
A medical emergency / crisis can strike at any time. It can be in nature of an accident or any any disease/ illness. With present life style of stress, traveling, long working hours, irregular and unhealthy eating habits, makes us very susceptible to illnesses. Often such medical emergencies are unforeseen and may cause great financial crisis to you. Very often, existing savings, future family goals are compromised to arrange for such medical expenses.
Taking an adequate medical and health insurance would help you cover your cost of treatment and hospitalisation, other medical expenses and may reimburse you for your lost income during period of recovery. Health insurance is your safeguard against financial impact and stress that accompanies any illness or accident.
Health Insurance products available through us
Taking an adequate medical and health insurance would help you cover your cost of treatment and hospitalisation, other medical expenses and may reimburse you for your lost income during period of recovery. Health insurance is your safeguard against financial impact and stress that accompanies any illness or accident.
Health Insurance products available through us
- Individual Policies: Individual health insurance is policy that a person buys on his own, and not that he avails because of his employer taking policy for all employees of the organization or as part of a group. Individual health insurance policy can be bought by a person for himself as per his requirements. A health insurance cover for a single insured person. The insured (only) can avail the benefits up to the pre-determined sum insured.
- Floater Policies: A health insurance cover for the entire family including spouse, dependent parents and children. The sum insured for the entire family is pre-determined. Whenever there is a medical claim for any of the family members, the claim is made from that total sum insured. For e.g., there is a family floater policy with sum insured of Rs. 5 Lakh. One member in the family is hospitalized, uses about Rs. 2 lakh for his treatment, the remaining 3 lakh can be availed by other family members. Hence the family floater serves the purpose whoever in the family falls ill.
- Group Policies: Persons having some similarity (working in the same organization, same occupation, etc.) form a group and the health insurance company collectively insures the group. Group insurance policies are very popular with organizations where they form a group of all the employees and get them collectively insured where each member is then insured for a particular risk cover amount. The premium that is paid per person is far less than the premium of an individual policy.