Health Insurance
Vehicle Insurance
Life Insurance
Why Health Insurance
Today technology is available to cure critical illnesses as well as basic health concerns. But, with this advancement comes the shooting prices of health care services which are beyond the reach of common man. Here, health insurance comes as a relief to rescue us in the difficult times of hospitalization. This includes in-patient treatments, pre and post hospitalization charges, day care procedures, domiciliary treatments, etc.
Top Reasons to Buy Health Insurance Plans
Corporate Health Cover is Insufficient
With rising medical costs, the importance of health insurance policy cannot be overstated. Check the cost of a two day’s hospitalization for a regular ailment and then compare it with your company’s insurance coverage. When you will retire or change a job, your corporate health plan will cease to exist. So it is worthwhile to buy an individual health plan.
Increase in Incidence of Life Threatening Diseases
Sadly, India is grappling with life threatening diseases. The effect of these diseases is felt on the productive workforce from 35-65 years. Also, heart diseases among Indians occur five to ten years earlier than in any other population around the world. Sedentary lifestyles lead to life-threatening diseases like cancer and heart diseases which are critical and impose heavy expenditure burden on families. It is therefore imperative to insure oneself timely. Moreover, health insurance policies offer annual health checks ups to encourage health awareness.
Tax Benefits
You can get exemption for paying the premium under Section 80D of the Insurance Act. This year, India’s Finance Minister Mr. Arun Jaitley has increased the limit of deduction in health insurance premium to Rs 25,000 from Rs 15,000. For senior citizens, the new limit is Rs 30,000.
Better Financial Planning
We often set goals and save regularly to meet those goals but a medical emergency may play havoc in an individual’s financial planning. With Health Insurance policy, you may be rest assured of attaining your financial goals.
Value for Money
New health plan cover you for day care procedures and OPD, not just serious hospitalization. Depending on your level of cover, a health policy helps you pay for services such as ambulance, day-care procedures in addition to a number of non-hospital related services such as chiropractic, dental, physiotherapy, optical, dietary advice and some alternative therapies like Ayurveda and Homeopathy as well.
Young buyers get a more comprehensive deal
Buying health insurance at a young age ensures there is no scope for pre-existing diseases as you will be covered early, and any diseases diagnosed later will be covered automatically.
Types Health Insurance
Individual Plans
Health insurance covers medical expenses for illnesses, injuries and conditions. But, unlike a plan through an employer, individual health insurance is something you select and pay for on your own.
Family Floater
A family floater health insurance, as the name suggests is a plan that is tailor made for families. It is similar to individual health plans in principle; the only difference is that it is extended to cover your entire family.
Senior Citizen Health Insurance
Senior citizen health insurance plan is a necessity, especially when you are planning to retire and live on pension or interest income from savings.
A sudden medical emergency can result in a financial crisis. To avoid this, it is prudent to take a comprehensive senior citizen mediclaim insurance policy. These senior citizen health insurance policies are for people aged between 65 years and 80 years.
Critical Illness
Life threatening critical illnesses like paralysis, cancer, heart diseases, brain tumours, not only leave the patient unable to earn but are also very expensive in nature. Many families get devasted financially and emotionally. A critical illness policy covers the insured in the event of such cases.
Why Vehicle Insurance
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Top Reasons to Buy Vehicle Insurance Plans
- Accident
- Fire
- Lightening
- Theft
- Self-Ignition
- Earthquake
- Terrorism
- Flood, Cyclone
2) Coverage against financial liability caused due to injury or death of a third party or damage to the property.
3) Auto Insurance protects you for the below mentioned damages, should they occur
4) Policy protection against loss or damage to the covered vehicle
5) Coverage against financial liability caused due to injury or death of a third party or damage to the property.
6) Auto Insurance protects you for the below mentioned damages, should they occur:-
Types of Vehicle Insurance
1) Comprehensive Coverage
It is a complete package policy wherein own vehicle damages will be covered up to the Insured Declared value.
Any third party property damage or third party injury/death can be covered.
Policyholders feel less stressful as it gives end-to-end coverage.
2) Third Party Liability Coverage
In India, third party liability coverage is legally compulsory under the Motor Vehicles Act.
This vehicle insurance type offers coverage against all legal liabilities to a third party caused when insured is at-fault.
It insures injury/damage caused by policyholder to third person or property.
3) Collision Coverage
It financially protects the policyholder against damage of insured own car.
Collision coverage pays the policyholder for damage caused because
Collision which generally occurs due to an accident.
Loss or damage because of vandalism or theft
4) Critical Illness
Life threatening critical illnesses like paralysis, cancer, heart diseases, brain tumours, not only leave the patient unable to earn but are also very expensive in nature. Many families get devasted financially and emotionally. A critical illness policy covers the insured in the event of such cases.
Why Life Insurance
Worried about your family’s financial future in your absence?
Yours is a happy family. As the breadwinner, you have been able to provide them with every comfort. Good life, health, education, enough finances to fall back on. But, give a thought - what would your family do if YOU were not with them anymore? What if, god forbid, managing two meals a day, or meeting even the basic educational needs of your kids remain only a dream?
Scary isn’t it? Not really if you are adequately insured. Insurance takes into account all your family’s needs not only when you are with them but also in case you are not around.
The Basic Need Analysis tool analysis how much insurance you need to buy, to maintain the present comforts and luxuries even when you are not with them and ensures a secure future.
Top Reasons to Buy Life Insurance Plans
- Life risk cover i.e. financial protection to the family in case of an unforeseen event- say death, illness, disability on account of accident, etc is the main purpose of insurance. It's also seen as a 'compulsory savings' leading to creation of wealth which can be utilized for education/marriage of children; for old age provision; for construction of house; etc.
- Policies are taken to get exemption from Income Tax and to assign these to financial institutions as collateral security while availing different type of credit facilities including housing loan.
- In order to meet various socio-economic needs of different people. There are various types of plan available.Each has distinct features covering certain type of benefits. The selection depends on your needs.
Types Life Insurance
- New Jeevan Nidhi
- Jeevan Lakshya
- New Children's Money Back Plan
- Jeevan Rakshak
- Jeevan Labh Plan
- Jeevan Pragati
- Jeevan Arogya
- Varishtha Pension Bima yojana
- Child Future Plan
- Jeevan Ankur
