Insurance

Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, an insurance company, an insurance carrier or an underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. Policyholder and insured are often used as but are not necessarily synonyms, as coverage can sometimes extend to additional insureds who did not buy the insurance. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship.

Individual Insurance

Individual health insurance policy facilitates adequate coverage for an individual, in accordance with the specific requirements pertaining to a single person and the premium is also charged relatively. It provides sufficient cover against the diseases, injuries or any other medical treatments, offering varied benefits such as cashless facility at the time of hospitalization and other add-ons as well as lucrative deals with the hospitals covered.

The policy amount, in this case, is applicable solely to the individual insured and is usually estimated as per the age of the person in question. Thus, according to this policy, every insured member is eligible to have the entire amount individually and that cannot extend to any other family member. The primary advantage for the policy is to have enough allowance at a relatively lower cost and thus, reduces the chances of multiple features at additional cost lying unconsumed.

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Family Insurance

Family health insurance is a more comprehensive type of insurance that provides a combined coverage for all the members of the family under one policy. It generally provides cover for a number of diseases within a single unified plan and depending on the plan chosen, it could be more than one time for one disease for all the members. It functions on a fixed sum ascertained for the policy to provide for the entire family that enables the family to multiple claims for each person covered within the specified duration/ term of the plan.

Under varied conditions, family health insurance plan can stand as much more advantageous in specific circumstances for a particular family as compared to the individual plans for everyone separately. The family health insurance is availed at an accumulative premium cost for all the members at one go and thus, comes to be cheaper than the individual plans. In a family plan, the premium is typically calculated in relation with the eldest member and also, the insurers are not given renewals beyond a certain age.

Despite of obvious reduction in cost and access to a wider range of diseases covered and also the ease of managing just a single policy that covers all, there are certain drawbacks as well such as the entire No Claim Bonus getting diluted for the whole year, in case of even a single claim by one person. Also, in most cases, the policy cover cannot be extended to the grandparents or in-laws and thus, there is need for an individual policy for them, any which ways.

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Senior Citizen Health Insurance

Senior Citizen health insurance for parents is an absolute essential, particularly when one is on the stage of retirement with future plans to survive on pension or income from interest savings. These policies majorly provide cover against medical treatments for people in between the age of 65 and 80 years of age. When you are at a relatively later and much slower stage of your life, you do like to have everything in order and an abrupt medical expenditure pertaining to an ailment or injury etc. can complicate the stable financial status and may even result in a bad crisis.

As per the guidelines issued by IRDA, every insurance firm must provide coverage to individuals, till the age of 65 years of age. This will facilitate coverage for people at the later stages in life as well as also enable them to move insurers, if not satisfied with the current provider. Thus, while it is imperative to have adequate senior citizen health cover for elderly people, it is equally important to make the right pick after due comparison.

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Car Insurance

Car Insurance, the mandatory financial protection cover for your car that is availed to help safeguard the risk of any damage to the vehicle in all unanticipated circumstances, is a policy made compulsory in the country by the Government. Car Insurance covers all the monetary losses pertaining to a road accident, car theft or unknowing damage caused by any third party to the vehicle when stationary and any other consequent liabilities. When it comes to the premium of the car insurance policy, it is not static and can vary from high to low, depending on the Insured Declared Value (IDV) of the vehicle from time to time. Thanks to the existence of a number of renowned insurance companies in the market today, there are several different variants of policies to choose from.

Benefits of Car Insurance

There are numerous benefits of having an adequate and reasonably cheap car insurance policy with maximum features, to one’s aid in times of need, which include,

• Facilitating financial coverage for all damages incurred to the vehicle during an accident.
• Providing economic support by all covering the litigations, if any, including any legal expense paid in lieu of the accident.
• Provides ample benefits to the ones who are left alive (and injured) in a fatal accident, resulting in the death of one or more.
• Even if one doesn’t have the need to claim any amount during the period of the policy taken, there’s a ‘no claim bonus’ provided by most companies at the time of next policy renewal.
• Also has the advantage of getting premium discounts, if you happen to own more than one policy with a single insurer or even in case of theft.
• The coverage scenarios extend to a great deal of events such as accident, theft, lightening, fire, explosion, riots, self-ignition, strikes or any other natural calamity or even terrorism fallout.

Why Compare Policies?

Just as helpful as the several options available maybe, they also pose a great deal of confusion in the minds of individual as to which one to opt for. Going with any policy without knowing your options appropriately isn’t the way to go for you end up missing out on your ideal plan. Thus, it becomes critical to compare the different online car insurance policies offered by the varied brands today and getting a professionally-done analysis can help a great deal in making a sound decision. Here are a few aspects that indicate how the car insurance comparison assists.

• Different Quotes by Different Brands - Despite of having the same vehicle type and vehicle brand in question, it may not be necessary that all insurance companies off same premium amount and same benefits. Thus, it is imperative to compare properly and choose the best one, considering all factors.


• Option to Customize- When you get to comparing different policies online, you free to make a customized policy requirement in terms of choosing the type of policy, the IDV value and procuring relevant quotes accordingly.


• Discounts and other Add Ons Offered - Comparing the policies online at one go can help you make a comprehensive analysis of what discounts and add ons are being offered by several companies. For instance, if one company is offering lower premium amount but the other having higher premium amount is offering additional facilities that you may otherwise end up paying more for on a later stage, then you can have a clear picture and choose as per the total cost in mind.


• Take the Preferred Pick -  If you have all the policies with the entire details alongside a comparative study but still can’t decide, then, we help you see the trending policies by displaying the number of policies sold recently for every brand, so you can go with the one that’s the preferred pick by majority of people.


• Claim Settlement Process - Claim settlement is a vital part of the insurance policy and each one expects convenience in service and thus, it becomes much easier to know beforehand the claim settlement process and be well acquaint with all the rules and regulations in advance so that a person with complex working hours and less time on hands can opt for a plan with less complicated procedures.

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Two Wheeler Insurance

With the heightened level of dangerous road conditions, it has become imperative to safeguard one’s vehicles from the perspective of probable accidents with misplaced static elements or even the collision with other vehicles. More so, for two wheelers, the roads have been become alarmingly unsafe and while protecting oneself is critical, it is equally vital to look after the vehicles as well, being the heavy financial investments of a common middle class man. Two Wheeler insurance policy is the best way to cover for any impending damages that may take place in the future to your two wheeler vehicle due to unlikely events like accidents, any natural calamity, theft or fire etc.

There are a number of alternatives available for the two wheeler insurance online and we can pick out the best one suited to one’s specific requirements. The policy takes care of any liabilities caused from any wounds to one or more people during the incident. Online Bike insurance is the ideal way to provide cover in advance for any probable damages in the future that may occur later and unsettle one’s economic stance abruptly.

There are usually two kinds of coverage available in the market:

• Holistic one that encompasses complete cover against all sorts of damages incurred to the vehicle and the riders both.
• The liability-specific policy that provides cover for only the injuries caused due to third-party activity.

Benefits of Two Wheeler Insurance

• Ample financial coverage for the two-wheeler vehicle against all damages from accident, theft, fire or natural calamities.
• Easy Transfer available at the time of no claim bonus, in case the policy isn’t utilized at all.
• Cover for the people riding the vehicle during the incident.
• Hassle free and instant procedures to help one pick the best deal
• Quick assistance from the associated partners of the company at the time of incidents
• Legal assistance is also covered in some plans.

Why Compare Policies?

With plenty of different alternatives to choose from under each head, put on lucrative offers and deals by almost all the leading brands in the market, one is often overwhelmed by the level of choice available and is unable to choose at the first go. Thus, compiling a due comparison, considering all the aspects in detail helps one to make an informed and sound decision.

• Pick the best Quote - Even with the similar vehicle and brand, it isn’t a given that all insurance names in the industry offer the identical premium and benefits. And so, it is critical to make adequate comparison and pick the right one that comes closest to covering all the required elements and yet remains one of the cheap two wheeler insurance alternatives.


• Customization is the Key - While comparing varied policies online, it’s equally important to consider the non-financial features as well such as the extent of customization being offered by the brand. It can help significantly to pick and choose and make the plan as exactly as per your future requirements, thus, keeping simpler and much more cost effective.


• Value-Adds & Discounts - It is also important to keep in mind the different types of discounts being given at the time of policy buying as that can have a huge indirect impact on the total cost of the cover.


• The Trending Pattern Matters - While comparing the policy features on one’s own is crucial; it can also be a great way to follow where the trending pattern is leading and to go with the majority as that can enhance your chances of going right.


• Claim Settlement Rate - Claim settlement track record of a company must be factored in while buying the policy so as to have a higher chance at a smooth claim settlement in the future and be much more certain of having one’s money back

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Term Policy

Secure a Bright Future for Your Loved Ones Today!

Life is nothing if not unpredictable and given the innumerable probabilities in life, there are simply no guarantees to bank upon. While you are there today to work hard for making the present moments of your family comfortable and happy, their future still looms in the darkness of uncertainty. Insurance is one sure shot way of ensuring a safe and financially stable life for your loved ones, even when you are not there for them anymore.

Life Insurance is an ideal way to provide for the future economic support to your dependents after your death. If one takes a life insurance policy and something unfortunate happens during that term, then your family will be entitled to get the set amount of the policy. Thus, they will have sufficient financial support to attend to any immediate liabilities and will have enough buffer time to plan things ahead at a mental ease.

Term Insurance  is a type of life insurance only, a byproduct that implies financial coverage provided to the policy holder for a particular time period; if the insured dies during the term then death benefits are paid to the beneficiary but it ceases if one outlives the set term of the policy. It is the most basic and inexpensive form of insurance that offers maximum death benefits and it can be availed for a fixed duration, usually up to the age of 30 years or as per the maximum age limit specified by the concerned company.

Stating the obvious here, once you analyze and eventually figure out which term plan to go for, the most vital next step it to ascertain the credibility of the chosen insurance company. Apart from that, it is also advisable to have some basic points of references from the other varied companies offering same or similar term plans to have a comparative analysis and enough knowledge to make the right choice.

• Your age and the corresponding premium
• Premium against the cover provided
• Extra premium charges as per the age
• Enhanced charges due to your job profile
• Riders, if available and the related benefits

Buying the best term insurance has become much more convenient than ever and is almost hassle free except the compulsory need to undergo a medical examination in order to assess one’s health condition at the time of taking any term policy.

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Travel Insurance

Travelling may be a personal venture for some or a professional necessity at some point but whatever it may be, it is both enjoyable as well as demanding at the same time. Travel insurance stands as the best and the most convenient way to safeguard one from any unanticipated circumstances that may occur at any point while travelling and cause an unaccounted expense that can imbalance one’s budget and bank balance drastically.

There are a number of varied plans available in the market from cheap travel insurance giving relatively low coverage to some more expensive plans providing a much higher coverage in lieu of the expenses incurred. And now, with the ease of exploring and buying insurance online at just a click, it has become simpler than ever to get your hands on the best travel insurance plans available at the best possible prices from different brands.

What Travel Insurance Covers?

Travel insurance is specific to all things related to travel, covering for all unwarranted expenses related to occurrences such as any delay or cancellation in any of the flight schedules, any loss, theft or other damage to luggage or passport or other important documents as well as several policies also include the medical emergencies occurred during the travel etc.

Benefits of Travel Insurance

If one wishes to make their travel an easy, uncomplicated and tension free affair without the constant worries of additional, unplanned expenses marring your experience, then, having an adequate travel insurance plan at the right time i.e. well in advance, right at the time of getting the trip bookings done in the first place so that maximum benefit and coverage for the entire trip can be availed.

• It covers the flight delays, including reimbursements for the meals during the time.
• Guaranteed prompt assistance in case of loss of passport or other important documents.
• Emergency medical assistance available at all times instantly.
• Due care taken of your essential requirements in case of loss of luggage
• You are safely provided for in case there is a general mishappening at the place you are visiting.
• In certain countries, travel insurance is a must so you are covered for.
• Provides maximum possible cover at the best reasonable cost.
• Definitely helps in making the trip more cost-efficient and is also not affected by the bankruptcy of the travel company.

Why Compare Policies?

While the multitude of insurance plans available now has significantly increased as compared to the past, it has also become rather important to choose the insurance plan wisely so as to get the maximum benefits at the best possible price.

• Policy Cover Exten - The extent of policy cover provided for the given amount comes as one of the primary factors to consider. One can explore, analyze and purchase a suitable policy as per the number of required elements covered. Comparing the different policies helps to ascertain the benefits and cost ratio aspect as per the individual needs.


• Rate of Claim Settlement - Herein, doing due research and analyzing the overall standing of the companies in the market is a must so as to determine their track record for the rate claim settlement; it is necessary to account for their pace as well as amount and ease of settling the claims for clients.


• Flexibility to Customize - While comparing policies, one must also account for the level of customization available as that can also significantly affect the total cost. Customization helps to avoid the additional cost for components that are covered but aren’t required by the buyer.


• Awareness of Deductibles - There are many companies who set a particular deductible amount that is to be paid by the traveler in case of an urgency and thus, comparison in policies helps to factor in this amount as well while choosing the cheapest one of the lot.

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Accident Insurance

There is a lot in life that’s uncertain and moreover, on the roads these days, owing to the bad conditions and increasing level of traffic, situations are unpredictable and unmanageable at times. Accidents are significantly on the rise in comparison to the past few years, in particular and one really doesn’t know when the situation gets out of control. A little planning can go a long way as accidents can unsettle your life in a fraction of a second, leaving you and your loved ones in a difficult situation both emotionally and financially.

Despite all the possible precautions, accidents may occur anytime sometimes even resulting in death of the person. Personal Accident Insurance cover gives protection and financial help against such unforeseen events. You may save your medical expenses and get covered against accidental death, serious injury or any disability. Personal accident insurance is the way to safeguard your financial interests in advance in the stressful situation of an accident causing any serious injury and also, the cover is extended to one’s family as well in case of a fatal accident.

There are some different types of coverage’s offered under the accident insurance policy, usually, which include the following:

• Accidental Death
• Temporary or Partial Disablement
• Permanent Disablement
• Medical Expenses
• Hospitalization Cash Benefits
• Corrective Surgery
• Funeral Expenses

Further, there are two different types of policy cover, i.e.

• Individual Policy that covers only the one individual insured in case of an accident.
• Group Policy that is generally meant for a group of individuals, taken by employees together or even family members. They are better off as sit relatively cheaper and may offer more benefits.

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Child Plan

Planning does not necessarily mean about what you wish your child would grow up to be, or have certain characteristics, but it also essentially means you as a responsible parent having various obligations to fulfill that would help him to grow better in this world. The dynamics of planning for the child's future have changed radically over the years. The conventional method of providing for the child was to just set aside some amount of money in a savings bank account. These funds would then be utilized for the child's life stages. A few parents would also make investments in fixed deposits with the intention of utilizing the maturity amount. However, it would be safe to say that such an approach is not only outdated, but also inadequate in the present scenario.

Life insurance plays an important role in an individual's financial planning exercise. Insurance can assist individuals in planning for their own life stages as well as provide for their child's future. It also secures the child’s future in case of any unfortunate event. Various types of child insurance products are available in the market today. Child insurance plans have traditionally played an important role in securing the child's future. With a plethora of children insurance plans available in the market, it becomes difficult for most parents to evaluate them objectively. Individuals need to understand the dynamics for planning their children so that they can best utilize the alternatives available in the market. Child plans come in two broad variants –Traditional child plans and unit linked insurance plans (ULIPs). The primary difference between the two lies in the way they invest their premium. Traditional plans invest a major portion of their money in debt instruments like corporate bonds and government securities (as specified by the regulator). Conversely, ULIPs can invest across equity and debt markets in varying proportions.

The factors to consider while planning:

• Time frame for building a corpus.
• Age at which the fund would be required.
• Approximate amounts to build the corpus.
• Investment avenues to be considered.
• Approximate amounts to build the corpus.
• Investment avenues to be considered.
• The amount available to the child in case of death of parents or disability of the
• Premium-paying parent.

As a parent, one would generally plan from the perspective of making funds available for :

• Education
• Marriage
• Seed capital for business

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Retirement Plans

A pension is an arrangement to provide people with an income when they are no longer earning a regular income from employment. Pensions should not be confused with severance pay; the former is paid in regular installments, while the latter is paid in one lump sum Pension Plans are individual insurance plans that impact your future by providing financial stability during old age when it is needed the most. Pension plans are suitable not only for senior citizens, but anyone planning for a secure future. The common use of the term pension is to describe the payments a person receives upon retirement, usually under pre-determined legal and/or contractual terms. A recipient of a retirement pension is known as a pensioner or retiree.

Retirement plans may be set up by employers, insurance companies, the government or other institutions such as employer associations or trade unions. The plans are typically in the form of a guaranteed life annuity, thus insuring against the risk of longevity. With an increasing number of young Indian professionals moving away from traditional joint family structure, parents have realized the need to be careful for their retirement years & have financial security. Pension plans are their best friend offering a comprehensive long term financial plan for retirement years. Insurance companies offer various pension plans (also called as retirement plans or annuity plans) where a person has to initially invest either a lump sum amount or regular annual installments/ premiums over a period of time in return for regular income either for life or for fixed number of years depending upon the plan.

Deferred Annuity Plan:

Under this type of plan, the pension is not paid immediately but deferred for a time period as required by policyholder. If the policyholder survives the term of the policy, then the accumulated amount (consisting of sum assured, guaranteed additions and bonuses) is invested to generate regular income.

Immediate Annuity Plan:

This plan can be purchased for a lump sum in return for fixed payments throughout life. Insurance companies offer various options under annuity plans. There are different categories of Immediate Annuity plans:

Annuity Certain:

The insurance company pays a fixed sum of money for a certain number of years.

Guaranteed Period Annuity:

Under this plan, insured will be paid pension for a certain number of years as stated in his/her plan (say 10 years) even if he/she does not survive this period.

Life Annuity:

Policyholder will be paid a specified amount regularly through her life. This plan also comes with the option of 'return of purchase price' to the beneficiary upon the policyholder's death. In case policyholder opts for this plan, her nominee will get the maturity amount plus any bonus upon her death.

Make wise investments and get the maximum tax benefits!

You need to invest your earnings wisely in different plans, thus availing several benefits and at the same time saving your taxes. You can look into a life cover which would help you to secure your family's financial future and will also provide tax benefits. By investing in a life insurance plan, you may claim tax deduction on the premiums you pay which would further help you to reduce your tax outflow. Health Insurance can also help in reducing the computable tax base, thus resulting in reducing the net tax liability.

Here are the beenfits an individual can get by investing in a tax saving plan:

Section 80C - Premium paid on Life Insurance policies: deduction upto Rs 1,50,000 Premium paid on pure term, endowment and Ulip product eligible for 80C benefit

Section 80CCC- Premium paid on pension policies :deduction upto Rs.1,50,000 deduction is within Rs.1,50,000 limit of Section 80C and 80CCD(1)

Section 80D- Premium paid on health insurance policies :deduction upto Rs. 35,000/- Rs.15,000 deduction is allowed for self , spouse and dependent children: Additional Rs 15,000 for parents or Rs.20,000 for parents above 60 years of age.

Maturity proceeds from Life Insurance policies are exempt u/s 10(10D) subject to specified conditions You may plan your taxes and buy the best policy that will bring you the maximum benefits. This portal would make it easier and quicker for you by providing the right options to choose from!

• Reduce Tax Outflow
• Benefits received on maturity or on death
• Benefits available to Individual and HUF assessee
• Save for the Long Term
• Meet your short term and long term financial goals

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Money Back Plans

Money back plan also known as a term plan as it provides life insurance cover for a specified time span. During the term of the plan the insured receives fixed amount of the sum assured on regular intervals, these amount are tax exempted. Money back life insurance policies rank high on the popularity chart. And for good reason: they offer dual benefits of insurance and redemption of money at regular intervals.But little do people realise that they pay more towards premium amount in comparison to a term policy. Here's a lowdown on what it takes to buy a money back policy and the issues involved According to life insurers, money back policies fit perfectly in the scheme of things of traditional investors who seek financial instruments that provide insurance and investment, with a low risk element and guaranteed returns In other words, the plan is meant for individuals who require money at certain intervals in their lifetime to meet fixed long and short-term financial needs (buying a house or car, vacations abroad).

The best thing you can buy from an insurance company is an 'insurance policy'. However, the sad truth is, most of us look at insurance products as investments, on which we will get back some money when the policy matures Along with this amount the balance keeps increasing to cater their long term saving needs and the plan is covered till its maturity. Once the term is completed the insured is entitled for a sum assured, if any, along with the bonus amount. In case of the death of the insured, the nominees receive the sum amount plus participating bonus. Though one enjoys the benefits of money back plan, they keep in mind that the premium amount of this plan is quite high in comparison to other plans. In addition to this, if you opt for added benefits like getting the invested amount plus participating bonuses then the premium amount is even higher.

Endowment Insurance

Endowment insurance is a type of a life insurance policy through which you can get a lump sum amount after you reach the specific period of maturity. The benefits are also applicable if one dies before the maturity period. These insurance policies are profits or units linked and are more or less similar to the traditional investment plans. The endowments that you are entitled are allowed to be cashed in early. In this case, the amount of the surrendered value that you will receive is based on the insurance company and the type of the insurance policy which you have opted for and the type of contributions that you have made. The endowment policy, you are guaranteed the payment of a fixed amount of money. This guaranteed amount is referred to as the sum assured. The sum of the money can be increased on the basis of the performance of the investment methods. In addition, annual bonuses can also be added on a period basis. In case of the regular bonuses, they are paid after the money matures and an extra non-guaranteed bonus can be paid. This is referred to as the terminal bonus. Types of endowments:

Unit Linked endowments- The premium can be invested in the units of the unitized insurance funds. The units are enchased in order to cover the life assurance costs. The prices of the units are regularly published and the value of the encashment is the present value of the units

Full endowments - In case of a full endowment policy, the basis sum that is assured is similar to the death benefit that is applicable at the beginning of the policy. This means that the final pay will be higher than the sum that is assured

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