GENERAL INSURANCE BLOG

Insuring your motorbike the day you buy it, is often referred to as a thumb rule. However, the entire process of selecting and buying an insurance can be confusing, especially when you have to approach different agents & collect all those brochures.

Interestingly, the days for approaching an agent, getting multiple brochures, analyzing them, and buying the insurance are gone. Now, all you need to do is purchase your two-wheeler insurance online over several clicks. There are many companies that are providing you with instant insurance through online mechanisms. You can also choose to just call the customer care of the concerned company, give them the details through the mail, and you will have your insurance in no time.

What to buy?

There are mainly three types of two-wheeler insurance: comprehensive, third party, and standalone. These three types of insurance come in two varieties- short-term one-year policy and then the long-term policy that extends from 1 year to 3 years.

● Prevent Any Large & Long-Lasting Injuries: While the short-term insurances might seem tempting due to their lower premium amounts, long-term insurances provide you better benefits. Interestingly, buying long-term plans saves you ‘three’ renewal-free years, and that’s just one of the many benefits. Want to know more? Let’s get started!

Benefits of buying long term insurance:

1. No yearly renewal - When you buy long-term two-wheeler insurance, you don’t have to worry about renewing it every year. Sometimes you may miss the deadline for renewing the insurance; there may be extra charges for renewing the insurance after the deadline.

2. Penalties and charges - If you forget to renew your yearly insurance, you may face heavy fines and penalties if you ever get caught by the traffic police. Lapsed insurance attracts heavy fines due to non-compliance.

3. No claim bonus - You are entitled to receive bonuses if you haven’t claimed in a year. This is called the non-claim bonus. Long-term insurance is perceived to be expensive but the real fact is that it has got a lot of monetary benefits.

4. Attractive discounts - When you buy Two-Wheeler Insurance Online , you are ought to receive discounts in some or the other form.

Ways to buy a two-wheeler long term insurance:

1. Online - This is the best and the easiest way to procure two-wheeler insurance. When you buy two-wheeler insurance online, the main benefit that you get is that you eliminate the need for physical documentation. The Covid-19 era made it more crucial to procure insurance through online means because meeting with the agents physically doesn’t seem viable anymore. The insurance companies are resorting to mediums that will help the customer and the agent connect through the mode of chats, telephonic conversations, etc.

2. Agent - This is the oldest way of buying insurance that allows you to purchase insurance through an agent who handles all your formalities and claims documentation in this option. In this process, the agent charges you a commission for his work. It is a little less feasible option. This works as a suitable option for those who are not aware of online mechanisms and mediums’ mainly the old age group.

Conclusion

The benefits of buying two-wheeler insurance are immense. Starting from staying relieved from renewals for longer terms, to paying them at your convenience, going online is the best option. We are going through a pandemic that has taught us that it is crucial to adopt the online mechanism of anything available. Remember, besides striking great deals, the main reason to adopt an online mechanism is the safety parameter in terms of your as well as your family’s health.

Quick tips around buying a long-term insurance policy:

● Assess all your needs before selecting the insurer

● Read all the scheme related documents carefully

● Buy an insurance cover that you can afford

● Since you are buying online, ensure that you compare all the term benefits by different insurers

Two-wheeler insurance or bike insurance is one of the essential tools that you need to invest in, for your vehicle. Interestingly, many people consider buying an insurance policy, even before receiving the delivery of their motorbike. One of the most highly purchased insurance schemes, two-wheeler insurance, is protecting your scooter, bikes, or mopeds.

It acts as financial protection for covering the damages or losses that may arise if your vehicle gets into an accident or gets damaged under multiple instances. Interestingly, this type of insurances also covers the vehicle’s repairs, third-party damages, etc., that may arise due to a Force Majeure event.

The recent motor vehicles act 2019, has made it mandatory to have at least third-party insurance for your bike.

Types of two-wheeler insurance:

1. Third-party insurance - As the name suggests, this type of insurance covers the compensation that may arise as a loss to you if you injure or kill someone due to an accident. This basic category of insurance covers all types of third-party liabilities. Although, third-party insurance doesn’t cover any expense for the damages of the insured’s vehicle. According to MVA, 2019, it is mandatory to have this category of bike insurance at least.

2. Standalone - The name makes it obvious; this category of Bike Insurance covers only the losses incurred to repair the insured’s bike. This category doesn’t cover the third-party liabilities that may arise as a form of injury or death. This is not a preferred category of two-wheeler insurance.

3. Comprehensive - Comprehensive bike insurance covers everything, the damages for the insured’s bike and the third-party liabilities. This is the most popular among all of them and the most preferred one. The best services, will always advise you to purchase this category of insurance.

There is a long-term bike insurance policy as well, which is generally known as multi-year two-wheeler insurance. This insurance, as the name suggests, carries on for few years. This insurance category’s advantages are no claim bonus, no policy lapse charges, and many more. You can get a year-long or multi-year insurance for all the above types of two-wheeler insurance.

Benefits of two-wheeler insurance:

1. Psychological - The major benefit of having two-wheeler insurance is that you are psychologically relieved from the tension and stress of any unforeseen circumstance regarding your bike. You stay assured that you don’t have to bear the losses alone; you have support from your insurance provider.

2. Legal compliance - The government has made it mandatory to have third-party liability insurance for any of your vehicles. Thus, when you own this category of insurance, you are complying with the government’s regulations.

3. Easy to buy and access - Everything related to two-wheeler insurance can be done online, which means that you can buy two wheeler insurance online in India as well as through the agent. You can also claim two wheeler insurance online in India.

4. Third-party liability - We have already mentioned this point several times. When you get into an accident, the biggest thing that will bother you is the third-party damages and losses. Two-wheeler insurance covers all that.

5. Protection against natural calamities - Natural disasters are uninvited! Your vehicle could get caught under several such instances (fire, landslide, flood, cyclone, earthquake, etc.). Having two-wheeler insurance saves your money against such calamities and covers your ride over such instances.

Final Words

What you need to understand is that this is not mere compliance with the authority. It is, in fact, a safeguard for your future. When you buy two-wheeler insurance from a good company, you ought to remain stress-free. And if you don’t, you might face multiple difficulties due to accidents. The biggest of them being the third-party liability, damage, and losses. Insurance can safeguard you from the pressure of the third party.

Tip: Before you decide to buy two-wheeler insurance, it is always advisable that you decide to have a pre-planned budget on your mind.

The first task after buying a car is to get it insured. These insurance tools assist you in case of any damage or accident. Today, some of the best car insurance companies in India offers prompt service to clients in case of any mishaps. While the benefits of having insurance are known to most car owners, there is something more that you may need to know to make the best out of your insurance.

The best car insurance company in India would offer you the best insurance deals. But still, there can be limitations. You need to go through the terms and policies thoroughly before buying insurance. You will always find some restrictions no matter which insurance company you choose. The point is that you need to be careful about claiming the insurance. You need to know how to maximize the result despite the restrictions.

What are the situations when you need to rethink claiming insurance? Let us look into how you can utilize the facilities properly and make the insurance’s maximum use.

● When the car damage is minimal and it is a single-car accident - Car Insurances are generally claimed during severe damage or harm. When you are the only one involved in an accident, you may consider paying from your pocket in case of minor damage. You can save your premium insurance service and also avoid an insurance rate increase.

● When the amount is the same or less than the deductible amount - Even the best car insurance company in India provides a deductible amount. You need to calculate if the repair cost would be similar or less than the deductible amount. If this is the case, it is wise to avoid claiming insurance. You would need to pay after the amount exceeds. Thus it is better to save the insurance for the future and pay on your own if the damage is minimal. Don't claim insurance in such a situation as it would unnecessarily occupy your claim history and obstruct premium facilities.

● When you can settle with the other party - There can be situations when you get involved in an accident with another vehicle. Pay the repair cost if the damage is minimal. Try not to claim insurance in such a situation when settlement is possible.

● When your vehicle is old and you do not need a polished vehicle - You can simply ignore the minor scratches or any dents or dings if your vehicle is old. You can save money by avoiding the repair of insignificant and small damages and keep the insurance for further usage.

However, there are two situations when you must report the accident to your car insurance company in India:

• If the accident is major and caused significant damage to vehicles and individuals, you must report to the police station and inform the insurance company. Don't settle major cases between parties.

• Do report the case to the insurance company if any individual get an injury. This will secure financial aid for the treatment.

Conclusion

Save your car insurance for accidents that you may not handle by yourself. Act wisely and utilize the insurance opportunities properly. Lastly, make sure that you have all the required documents in place.

Accidents can happen at any time and are often uninvited. Since such events can have a tremendous effect on your financial health, having personal accident insurance is your key to ensure financial assistance for your family and your treatment.

Applying for personal accident insurance in India is convenient and comfortable as the process can be completed online. But do you know the procedures to claim the insurance facilities after an accident? If not, then here are the instructions.

What are the Steps to Claim a Personal Accident Insurance?

Personal accident insurance in India, can be availed over multiple plans. But the standard features are to assist the treatment of the injured, provide financial aid to the family (depends on the seriousness of the accident), and take steps to repair the damaged vehicle. Now, let us see how you can access these facilities when you face an accident.

Here is a step-by-step instruction to claim Personal Accident Insurance In India:

● The first task is to report to the nearest police station about the accident and collect an FIR copy.

● The next step is to immediately call up the insurance policy provider and report the accident.

● You may also choose to report the insurance provider online by notifying them on their official website.

● One of the employees will then visit and check the condition of your vehicle.

● The insurance company will send the vehicle for repair.

● After the company approves your claim, it will pay all the bills, and you can simply relax.

● Personal accident insurance in India also identifies if any person gets injured. It pays for the treatment of the wounded person as long as he needs it.

But there are some conditions that you need to follow to get the facilities. Let us look at some of those.

List of information required to file your claim successfully:

● Insurance policy number

● Name of the person who owns the insurance policy

● Registered mobile phone number

● Accurate date and time of the accident

● Number of damaged vehicles

● Specifications of the vehicle

● A description of exactly how the accident happened

● Name of the driver

● The insured person's details should be provided if the injured person is not the same

You have to be careful about giving out the correct information. Otherwise, the company may decide to reject your claim.

List of documents you need to get the insurance facilities:

● Fill up the claim form and sign it properly

● A copy of the FIR filed at the local police station

● Registration certificate of the insurance

● A copy of the driving license

● An idea of the repair needed to the vehicle

● An estimate of the injuries and treatment required

There can be many other documents that you may need to submit. The procedures vary from company to company.

Tips to Avoid the Rejection of Your Claim

To avoid insurance rejection, you have to follow some common points. You should not risk it and make a strong case. Provide all the information to support the incident.

Here are some tips that can help you to avoid rejection of personal accident insurance in India:

● Provide some photographs and videos of the vehicle and the injured person as supporting evidence

● If there is any witness, provide his details to the insurance provider

● Don't miss out on informing the police, as providing a copy of the FIR is mandatory

● Don't be late. There is a time limit within which you need to report the accident. Report it as soon as possible

● Don't exaggerate the condition. Tell the truth to the insurance provider. If they find you deceptive, they will immediately reject your claim

● Don't decide anything before informing the insurance company. Let them examine and do the needful

Conclusion

Now that you understand all the essential steps required to file a claim, we hope that you get your accounts settled without much hindrance.

Lastly, here are a few takeaways to add value to your readers:

● Ensure that you click pictures of damages and injuries to submit as proof

● Note down the name and number of any witnesses present on the spot (if available)

● Don’t refrain from lodging an FIR

● Be honest about the entire incident, don’t try to lie or cook up the incident

● Ensure that you file the claim in the suggested time limit by your provider

Accidents are uninvited and can happen to anyone, anytime. There is always a chance of an accident when you are on the road. While you may hardly get an opportunity to stop the accident, you can surely secure your financial condition after the accident. This is when you need personal accident insurance.

Yes, we understand your confusion around the new term! Relax, we have you covered. Let’s begin by simplifying the term for you.

What is Personal Accident Insurance?

The consequence of an accident is uncertain and the financial strain that it puts on your savings can be undefined. Therefore, to ensure the financial security of your entire family over such incidents, opting for Personal Accident Insurance is mandatory.

There are two ways to get personal accident insurance online:

● Group Personal Accident Insurance – Here, the company head, along with the employees, buys insurance. You may get discounts as several people purchase together. It is an excellent option to secure all the employees’ financial support in case of an accident.

● Individual Personal Accident Insurance – You need to apply for it by yourself. You get financial assistance in case of demise, disability, or significant injury that happened due to an accident

Interestingly, the advent of digitalization now makes it easier for applicants to get personal accident insurance online. All you need to do is provide your details to protect your family from uncertain events.

Why is personal accident insurance important?

Accidents can happen anytime. Especially when India’s accident rate is alarming, it is always recommended to have personal accident insurance. It not only secures your treatment after an accident but also provides financial aid to your family. Thus the overall financial stress on the family will reduce if you have insurance.

It helps you to process the documents effortlessly and seamlessly send them to the insurance company. The company completely handles the later procedures. Further, this insurance will provide you financial help and minimize the stress on your income in case of an accident.
Let us look into the advantages of personal accident insurance that make it available and effortless for all:

● Financial Security – You remain tension-free when you have personal accident insurance. You secure your family and ensure your treatment when you have insurance.

● Easy Documentation – Most people think of insurance as a complicated procedure. However, nowadays, the process is simple and can be done in a minute. You need to provide the basic information, and the insurance company will do the rest.

● Online Service – In today's time, the most significant benefit is you can apply for personal accident insurance online Thus, you can quickly minimize paper works and apply it whenever you are free.

● Apply without Medical Test – You need no medical document to apply for personal accident insurance. This makes the procedure more straightforward and more effortless.

● Use Wherever You Need – Personal accident insurance policy allows you to get financial aid regardless of location. You can use the insurance whenever and wherever you come across an accident.

● Get Ambulance Assistance – Having personal accident insurance means you start getting help just after the moment of the accident. Most insurance companies provide ambulance expenses to take the injured to the hospital. Thus, you get complete assistance in case of an accident.

Final Words

There is no substitute for personal accident insurance, and it is incredibly beneficial to secure financial aid during any mishaps. However, while you are navigating through different websites, don't forget to check out the terms and conditions to choose the best insurance option.

Health insurance policies provide financial coverage for most of the medical expenses that an insurance holder generates while the policy is in effect. One should always invest in health insurance to get subsidized medical care in times of need or health emergencies.

What to Expect From This Article

Everything you need to know about health insurance in India and policy renewal. Nowadays, renewal happens online. You can now buy a new policy and renew it through the company website. You can also use the internet to get price quotes from different companies and compare which policy offers the maximum value for money. You can compare the features, the sum assured and a host of other benefits provided to choose the policy that fits your criteria and budget the best.

Being Responsible

Most health-related expenses are unexpected, and therefore, it is crucial to have a financial cover during such adverse time. A health insurance policy is supposed to be renewed periodically for it to be functional. The renewal period is mostly a year.

Characteristics of a Good Health Insurance Policy

Adequate health insurance ideally covers all possible medical expenses. Health insurance comes in various versions. Depending upon what kind of policy you have, you can avail different types of medical costs ranging from surgeries to post-hospitalization care.

Interestingly, some companies also allow policyholders to add other options to customize the policy and make it even better suited to their needs.

Things to keep in mind while renewing your policy

Health insurance in India has an annual renewal period. Following are the five most important things to keep in mind while periodically renewing your health insurance policy:

1. Re-examining the health insurance requirements

2. Scrutinizing for any changes in the health insurance policy and its terms and conditions

3. Changing the insurance provider (if required) under the portability clause

4. Mentioning any new illnesses or allergies

5. Checking to see if a top-up plan is required

Let us now look at these requirements in detail:

• Re-examining the health insurance requirements

While renewing your health insurance policy, you must review the requirements to see if anything has changed. You should repeat the reviewing process for yourself and your family and make sure to stay on top of everything. This is necessary in the case of expanding families (childbirth) or the addition of a disease. This process also becomes necessary when you are changing jobs since a change in jobs entails a change in health insurance coverage.

• Scrutinizing for any changes in the health insurance policy and its terms and conditions:

Many changes could come about in the company policy and standard terms and conditions within a year. The policyholders are usually made aware of these changes through notices. It is necessary, therefore, to read all the notices before policy renewal.

• Changing the insurance provider (if required) under the portability clause:

If you feel dissatisfied with your current policy providers, you could always change your service provider under the Insurance Regulator and Development Authority (IRDA) provisions. This clause ensures a seamless shift to another insurance provider should you require it.

It is a useful clause since the process of changing occurs without losing any benefits. However, it is important to keep in mind that this change can only occur during the period of renewal. Further, it requires a 45-day notice to be reviewed by your existing insurance provider, to effectively make the changes.

• Mentioning any new illnesses or allergies:

Make sure you disclose all illness-related details at the time of renewal, to get appropriate medical claims.

• Checking to see if a top-up plan is required:

This move takes into account future health-based needs.

Conclusion

While your Health Insurance, policy has you covered over medical expenses, don’t forget to keep up with an active lifestyle. Remember, your insurance policy is just a tool to cover your costs in a critical situation but preventing such situation itself depends completely on how much you care about your health.

Accidents are uncertain and can come uninvited, leaving behind an inevitable financial loss. Thanks to tools like car insurance, it becomes easier for us to safeguard our vehicle from such unforeseen circumstances. Car insurance covers repairs, damages, third-party liabilities, and other kinds of coverages related to your vehicles.

While multiple car insurance companies in the market will promise you premium services, you need to understand the factors that weigh-in for an ideal product. Yes, numerous companies offer multiple benefits; but not all services might be useful for your car. Further, availing of such benefits could cost you extra premium. Therefore, you must understand the factors that need to be weighed before buying a private car insurance in India.

Following are some of those factors:

1. Type of cover:

There are mainly two types of car insurance namely comprehensive plans and third-party insurance. In comprehensive plans, both, the insured vehicles’ damages, repairs, or anything else that may arise due to any unforeseen circumstances and also the third party liabilities will be covered. In third-party insurance, only the third-party liabilities and damages will be covered. Thus, a comprehensive plan for private car insurance in India attracts more insurance premium as compared to third-party insurance.

2. Safety features present in your vehicle:

What the insurers look for is the safety mechanism installed in your car. Safety equipment like air-bag, GPS, alarms, central lock, etc. If you have installed a suitable safety mechanism, your premium rates will be less and vice versa. The rationale behind this is that the insurers believe the safer the car, the lesser the chances of mishap. A good safety toolkit installed will be greatly beneficial for you in terms of buying an insurance plan.

3. Geographical orientation:

The kind of terrain you reside in has a major impact on your premium. If you live in risky terrain where there are more chances of accidents, your premium will be high because of the attached risk and lower in case of lower risk.

4. Type of powertrain:

If your car has a diesel engine, then the premium will be high because of the higher prices of diesel vehicles. The factor of Insured Declared Value comes into play here. It means the pricing of your car in the market during the purchase of your car. You will notice that the premium segment cars have higher premiums than their less luxurious counterparts, which might be due to the same principle.

5. Deductibles and Limits:

Your policy’s limit is the maximum amount paid towards the covered loss against your premium amount. Typically, individual coverage has its own limit, allowing you to customize it according to your needs. Further, the more coverage you opt, the more premium you pay.

6. Your Profession:

Interestingly, your profession also has a part to play in your insurance premium. If you are involved in a profession that requires regular usage of your vehicle, chances are that you will have to pay a higher premium. The reason being that here the vehicle depreciates at a faster rate when compared to the other cars covered under a policy.

Final Words

It doesn’t matter whether you Buy Car Insurance Online or offline. What matters is that you look into these factors before purchasing it. Remember, the factors mentioned above are some primary reasons that affect your premium. There can be other numerous factors and not all of them can be estimated. Thus, it is always in your favor to buy insurance only after comparing the benefits from a host of insurers available in the market.

Introduction

Do you own a two-wheeler? Do you use it frequently? Do you commute every day to get to work using your two-wheeler? If yes, then this article is meant specifically for you. Keeping in mind the rise in the rate of road accidents, the Indian government has introduced a clause in the motor vehicle act that necessitates third-party motor insurance for every two-wheeler owner.

Implementation of the Motor Vehicle Act

This is a welcome step in the right direction. Its implementation, however, is dismal. According to studies conducted by various insurance organizations, 60 percent of two-wheelers in India are not insured. It means that 60 percent of Indian two-wheeler owners face substantial financial risk, every time they use their vehicle.

Supreme Court Mandate

The Supreme Court has also made it mandatory for the two-wheeler owners to have a 5-year insurance plan for new vehicles. The existing owners, however, should also get their vehicles insured, given the immense risk. Two-wheeler insurance in India

 is a service that provides several benefits to policyholders. Some of the benefits will be explained in the course of this article. The Supreme Court’s mandate only states a 5-year plan. We advise you to invest in long-term two-wheeler insurance so that you receive the maximum benefits while minimizing financial risk.

The Need for a Long Term Vehicle Insurance

Since insurance for new two-wheelers has become mandatory, people have started to buy yearly plans just for the sake of avoiding hefty fines by the traffic police. They usually forget about it after the policy period’s termination and do not renew it, owing to the immense paperwork.

In such cases, if your vehicle sustains severe damages, there will be no help from your insurance company. Long-term insurance, in this case, would’ve had less paperwork, same premium, and would provide damage cover. Two Wheeler Insurance in India is fairly new. It is important, therefore, to understand how a basic two-wheeler insurance policy works.

Types of Two-Wheeler Insurance Policies

Most two-wheeler insurance policies are of two types, namely:

● Third-party insurance also known as liability-only policy

● The comprehensive two-wheeler insurance plan also known as package policy

Third-party insurance or a liability-only policy covers costs in case of a liability to the third party’s property or life. It covers cases of death or injuries but damages to the vehicle are not covered. In a comprehensive two-wheeler insurance plan, vehicular damage and liability to the body and life of the third party are also covered.

Benefits of Long Term Two Wheeler Vehicle Insurance

• Savings on premiums
• No policy renewal
• No early policy expiration
• Accumulation of the No Claim Bonus (NCB)
• No hassle of Break-in policies
• Option of policy termination at any time

Let us look at some of these benefits in detail:

• Savings on premiums: The IRDAI regulates long-term third-party two-wheeler insurance premium rates. The insurance premiums are capped at a fixed rate if the plan purchased is a long-term plan. A regulated premium rate means spending less on insurance along with maximum benefits. Great, isn’t it!
• No policy renewal: Insurance renewal happens annually. It is required for the policy to be valid. Most people find it inconvenient and let their policies lapse due to this. In case of a long-term plan, online modes of renewal are hassle-free, quick, and can be completed within minutes. Moreover, long-term insurance only has one-time paperwork, and you do not have to continually think about the tedious renewal process.
• No early policy expiration: A long-term policy, as the name indicates, remains in force for several years and does not expire early. So, even if you have forgotten about it, the chances are that it is still pretty much valid and functioning. It also saves you from committing an offense (riding without valid insurance is a punishable offense).
• Accumulation of the No Claim Bonus (NCB): NCB accumulation enables you to get discounted rates on premiums if you haven’t filed any claims in the past year.

Conclusion

Different types of insurance policies serve you differently. However, when you opt for long term insurance policies, you are at a better chance of receiving a lump sum discount and several other added benefits, when compared to short-term policies. Select wisely!

Why do you need comprehensive motor insurance even after having third-party insurance cover? What is the significance of having motor insurance from a motor insurance company in India? You might be wondering about the facilities being provided by an insurance company. Yes, there will be a variety of more such questions around comprehensive policy in your mind. Well, this piece is your one-stop solution to all those questions. Let’s get started.

What is a Comprehensive Policy?

A comprehensive motor insurance policy assists the insured person in case of accident or any third-party damage. It handles all the damage done to the vehicle due to an accident. However, you will have to renew the insurance policy timely to ensure the vehicle’s security. A motor insurance company in India provides full assistance to the insured person and the third-party.

To assure that your vehicle is risk-free and would get enough repairing facilities, India’s motor insurance companies offers various deals. Motor insurance would keep your vehicle secured and help you repair the damage in case of an accident, if you purchase one.

Now, let’s have a look at all the Primary Services that a motor insurance company in India has to offer:

• Damage caused by an accident.
• In case of theft or burglary, the insurance company will help you out. It will provide all possible instructions to minimize the loss and get back the asset.
• If your car gets damaged due to any fire accident, explosion, or self-ignition, the insurance company will help you repair the damaged car.
• Suppose someone attacks your vehicle or you come across any terrorist activity due to which your vehicle gets damaged. In that case, the insurance company will help you get the car repaired.
• The insurance company compensates any damage caused due to a natural calamity.
• If you get injured in an accident and need medical assistance, the insurance company will cover the medical costs but for an extra premium.
• Any third-party damage and injury are also covered in a motor insurance policy. Thus, any damage to a third-party is also compensated by the insurance company.

Benefits of Owning a Comprehensive Motor Insurance Policy:

• You’ll be entitled to a no-claim bonus: Get a no-claim bonus at the end of the year if you don't claim any insurance within the year. It is a reward to the clients for driving safely and responsibly and avoiding an accident. The bonus amount is deducted from the renewal fee that clients need to pay each year.
• Discounts become easy: You can obtain discounts on the comprehensive Car Insurance price if you own a motor insurance policy.
• Get it online: You can easily apply and buy a motor insurance policy online. This makes insurance available and accessible for all.
• You can go cashless and claim a cashless service: This makes the entire procedure smoother for the clients. You can claim insurance from anywhere at any time.
• Receive your claims over a few steps: Policy documentation is super-fast and convenient in the era of digital media. You can process all the information and documents in less time with less efforts. The systems are now updated and user-friendly to make motor insurance available for all.
• Real-time customer support: The best thing about the insurance by a motor insurance company in India
   is that it offers 24x7 support to the clients. Since an accident can happen anytime, anywhere, companies remain available round the clock for the clients.

Conclusion

Remember, almost all the losses are covered under a motor insurance policy. These services are very crucial when you face an accident. All these facilities come under motor insurance. It is therefore evident how vital motor insurance is for vehicle owners to secure their assets during a mishap.

Bikes are the most popular modes of transport on local roads. It is the best option for daily commuting to your workplace. Owning a two-wheeler comes with its own set of responsibilities. Two-wheelers are susceptible to high risks, which could sometimes be fatal. So, having two-wheeler insurance should be your priority after getting a bike.

It is necessary for you to get the right insurance for your bike to get instant claims and avoid hefty premiums. Factors such as mileage, price, and bike design contribute to what the premium amount of your insurance would be. The appropriate insurance for your bike is the one that is comprehensive and has a few add-on coverages to compensate for any unavoidable future situations.

Tips to Choose the Right Two-Wheeler Insurance:

1. Go for a Reputed Insurance Provider:

Choosing a well-known and trustworthy insurance company is the key to have a stress-free future. First, you need to make a list of the top-most insurance providers. After which, you need to research thoroughly and find the claim settlement ratios for each insurance company. You must also find out about each of the provider’s claim settlement processes. Finally, based on your research, you can choose the insurance provider with a record of smooth and easy claim settlements.

2. Coverage Requirement:

Usually, third-party coverage is enough for a decently-priced bike. But if you have got a high end model, you can also go for comprehensive coverage. All you need to know is about your requirements and the liabilities you have. You should also know how much you are willing to pay for the premium amount. Based on your preferences, you can choose the right amount of coverage.

3. Premium Amount:

As you might have found out by now, your insurance premium depends on several factors such as mileage, price, and design. The engine capacity of your bike also influences the premium amount. The premium amount is always high for those two-wheelers with a higher cubic capacity than those with a comparatively low one.

4. Know about Insured Declared Value (IDV):

IDV is simply known as the current market value of a given vehicle. It is the maximum amount of sum insured fixed when purchasing an insurance policy and the possible amount to be paid in case of complete loss of vehicle or theft. As depreciation increases with age, the value of IDV decreases. As a result, the premium amount will also begin to decrease every year. You must understand all the factors involved in IDV very well, as IDV decides the premium of your bike insurance.

5. Benefits of No-Claim Bonus (NCB):

You can Buy Two Wheeler Insurance Online after comparing the insurers and the benefits provided by them thoroughly. NCB is known as the discount made on your premium amount if you have not made a single claim during a year. It is almost like a reward for two-wheeler owners for maintaining safety on the road. These discounts can help you spend a lot less on your coverage than was previously expected.

6. Compare Insurance Companies Online:

Nowadays, you can apply for two-wheeler insurance sitting at the comfort of your home. To buy two wheeler insurance online, all you need to do is to look at the list of insurance providers available in your country. You can compare a policy based on the premium amount, inclusions, exclusions, and the number of coverages provided. Lastly, choose a policy that ticks all your criteria and is the most appropriate coverage for your bike.

Conclusion

No matter how much we plan, we are never ready for any uncertainties that life brings. So, it is better to have precautions in place rather than finding a cure later. There is always some risk involved while riding a bike. Thus, getting your bike insured will help you conserve your savings during uncertainties.

Do you feel fatigued often, or have random episodes of diarrhoea or catch a cold now and then? It may mean that you have a weak immune system. There can be several other symptoms too, and so are the reasons behind it.

There can be many factors responsible for your weakened immune system. From high-stress levels to not getting enough sleep, it can be anything. And making just some mere changes to your lifestyle can boost your immunity a lot. Besides that, it is always advisable to buy health insurance online which is going to be fruitful for your future.

The below-mentioned signs are just a handful of the causes, which might be the reasons behind your weakness.

You feel tired most of the time

There can be some reasons because of which you might be feeling exhausted. However, a weak immune system might be one of them if you have stomach upsets quite often or achy joints. If you think this way even after getting enough sleep, if the feeling of tiredness does not seem to go away even after a good rest, your immune system is trying to give you some signals.

Cold does not seem to leave you ever.

Irrespective of the time and change in weather, if you end up catching every round of cold that comes around, something fishy is going on with your immunity. Two or three bugs a year are entirely normal. But if you are unable to get rid of cold even after consulting with several doctors, a weak immune system might be one of the problems which you are not considering actually.

You have continuous digestive problems.

70 per cent of your immune system tissue is located in your digestive tract. And if you are facing issues like bloating, gas or diarrhoea, it might be because your immune system is unable to combat them ultimately.

These symptoms are a sign that your immunity is quite low than the normal, and thus you are automatically more vulnerable to get chronic inflammation, autoimmune disorders and infections. Your immune system is compromised due to some issue. Consult with a doctor and find a remedy as soon as possible.

You have high-stress levels

Are you working for long hours for weeks? Are you tensed due to some unfinished office work? Irrespective of whatever the reason is, you need to find out why you fall sick just after completing some important work. Maybe you are overthinking unnecessarily and pressuring yourself with too much workload.

However, you need to realise it too, that stress weakens your immune system. And if you do not stop gambling with your body, you are not going to feel energetic ever again. Boost up your immune system and stop stressing about petty issues.

Your wounds take more time to heal

The skin opts for damage control mode just at that moment when you cut your hand or get a burn. Your body sends nutrient-rich blood to the injury, which helps in regenerating new skin. But why are your wounds taking more time to heal?

Your immune system might have become sluggish, and maybe that is what is hindering your skin from helping you to heal within the average span. Do not let your wounds linger and eat a properly balanced diet and make some changes to your routine so that you can boost up the immunity.

Your immune system is the first step which is to be taken care of properly to have good health. And it is your responsibility to protect it from unnecessary problems to maintain healthy hygiene. Buy Health Insurance Online to keep your future safe. Exercise regularly and make some other changes in your lifestyle too, which will strengthen your immunity.

Optimism is good but it doesn’t mean that we don’t prepare ourselves for the unforeseen circumstances thinking “it will not happen to us”. Accidents are as unpredictable as anything, we can take measures to face the minimum damage but we cannot avoid a sudden fall for eg. wearing a helmet while riding a bike is a precautionary measure but if you fall and get yourself hurt, you might save your head but what about the knee?

A personal accident insurance cover ensures that you will be financially protected against any such mishaps but the most suitable or the best personal accident policy for you would be the one that takes care of your head as well as your knee which means it gives you full coverage.

Apart from this, keep an eye on the percentage of the promised pay-out. For example: In case, if someone gets highly injured during an accident which leads to amputation of a body part then claim towards the insurance policy might be restricted to 50% of the total sum assured. So, don’t forget to read every clause of the policy before signing it.The same is true here while choosing the best personal accident policy in india, don’t forget to read the policy lingo, jargons and the clauses word by word carefully

Key factors to consider while choosing the best personal accident policy in India includes!!!

Plan type: First of all, you need to decide the insurance policy type that you want to purchase. You can choose any plan from an individual plan to a family accident plan as per your needs and requirements. If your family is financially dependent on you then safeguarding your family against accident is always a good option. 

Premium: Premium is another factor that you need to consider while choosing the right accidental insurance for you. Of course, everyone wants to get higher coverage while paying a lower amount of premium fees. Choose the one which has an appropriate balance between the premium charged and the coverage. You should never choose minimal coverage insurance just because of the low-cost premium charges. Consider your needs, read out the policy and then make the right choice.

Policy coverage: The higher the coverage, the safer you will feel. So, you should choose a wide accident coverage. Because such policies provide coverage against any kind of accident and disability while basic insurance coverage covers death caused by an accident.

Add Ons: Several add-ons are present there offering enhanced protection on your chosen policy. Think about what add- on might come as useful and then choose the right rider plan for you. Though the add-on services change from one policy to another policy, offering you the choice to choose from the right option.

The claim settlement process: You should always choose a policy with an easy and hassle-free claim settlement process. What’s the benefit of paying premiums if you are not able to claim when you are in need. While choosing a policy, read the claiming method carefully. Generally, in all the policies, you will get a 30 day of the claim period. During this period, it is necessary to intimate the insurer regarding any loss caused by accident. 

Bottom line!!!

Choose the best personal accident policy in India that offers you higher protection against any loss caused by an accident with minimal hassle. 

Humans have the most precious gift from God in the name of health, and we ought to do our utmost to sustain the benefits of that gift for a healthy and happy life. Eating healthy, choosing your living habits are all counted measures, which you take on a personal level daily. However, there is one more step taken for the long-term benefit of your healthy life, and it is getting health insurance.

Take a step back and think about it, you plan to have a house, baby, manage school fees, bank accounts, and even design your dream wedding before finding the right match. Similarly, covering your health via a good insurance company should be a well-thought priority. Many insurance companies in India have tailored essential health plans, which meet your needs adequately with reasonable premiums and added benefits.

Finding the best healthcare insurance company for you, your parents and kids in India is not easy. It takes good hours of discussions, debates, and comparisons to come up with the best possible choice. Here are a few relevant pointers for you to consider while choosing your health insurance firm;

• Listing the available reputed Insurer – Selecting the right Insurance Company is as important as the policy itself. Out of those available options, you have to shortlist and select the ones with good brand value or reputation along with plentitudes of customer satisfaction.
• Comparison Among the top Contenders Is Must – A significant step before you buy your houses or smartphones is comparing the prices, quality, long term returns, etc. Similarly, before investing your hard-earned money in a health insurance policy from an insurance company, you must compare certain aspects like premium rates, coverage values, and optional benefits.
• Coverage, Premium Benefits are Best Bidders - The dominating factors of deciding any insurance plan is that of coverage and premiums. So, it is highly suggestive for you to go through the insurance documents carefully and make a decision, which gives you maximum benefits and coverage as an insured party.
• Claim Settlement Ratio - This goes without saying that if a health insurance company has an excellent claim settlement ratio, then you have a bright chance of getting your medical claims on time. Your job is to understand in-depth how the company conducts and manages the claim settlements to avoid any delays or refusals, when in need.
• Having a Well Maintained Hospital Network - Many healthcare companies maintain a pool of top private and public hospitals for cashless medical treatments, so that their customers would not worry about spending their own money and focus on getting their health back on track.
• 24x7 Customer Support System – It is imperative to know if the insurer provides excellent 24x7 customer support. Many health companies claim to provide seamless and trouble-free hospitalization and claim settlement, however, check their social media pages, Internet reviews, independent insurance websites, or ask for references before finalizing.

Take these pointers by heart and start searching for the best health insurance company for your family as no matter the levels of success you achieve in life, health has and should always come first.

Whether due to work-related tasks or personal matters, relocating has become a way of life. It is no secret that relocation to a new city is full of various hassles and can turn out to be a stressful experience. While there are multiple aspects that you need to contemplate while moving to a new city, one crucial aspect you should pay attention to is ensuring the safe relocation of your two-wheeler. In the hustle and bustle of relocation, it is very easy for you to overlook an important aspect related to the relocation of your two-wheeler and that is to keep it insured with the  best two-wheeler insurance in india during, as well as after the relocation process is complete.

Of course, you love your two-wheeler and would want the best two-wheeler insurance in India, but when it comes to relocating it to a new city, you can be caught unprepared. If you are unaware of the various important factors related to your two-wheeler insurance policy that must be taken care of during relocation, then here is all the information you need: 

• 1. Update your address: First and foremost, you must inform your insurance company regarding the impending move and apply for an update of your address. Your mailing address serves as an important channel of communication between you and your insurer. By updating your address in the company records, you can avoid many issues later on when you need to submit a claim.
• 2. Re-register your two-wheeler: If you are relocating for more than one year or permanently, it is advisable to re-register your vehicle to get a local registration number. For this, you need to obtain a No Objection Certificate (NOC) from your previous road transport office. Subsequently, notify your insurance company regarding this change through official channels, and you will have no issues later on while making a claim.
• 3. Obtain NOC from Police: You must also obtain an NOC from your local police station as well as traffic police. This is to ensure that no challans or accident cases are pending against the vehicle. Obtaining these NOCs will guarantee that you do not face any problems in the new location. 
• 4. Check Network of Cashless Garages: You can contact your insurance company regarding the availability of cashless garages in your new city. This will allow you to get any repair done on a cashless basis; otherwise, you will have to pay for the expenses from your pocket and later on, file a reimbursement claim.
• 5. Upgrade your policy: Different cities can have different traffic situations, and this might prompt you to add or remove any cover from your insurance. If you feel the need to do so, get in touch with your insurance company and seek guidance on how to complete this process. Moreover, based on the zonal risk involved, the insurance company may increase or reduce your premium as well.
• 6. No Claim Bonus: Do not worry about the No Claim Bonus (NCB) that you have accumulated against your  two-wheeler insurance in India. It will follow you wherever you go. NCB is offered to a driver, not to the vehicle, so even if you were to purchase a new two-wheeler or transfer to a new insurer, your NCB would stay intact. 

So, keep these points in mind while relocating and enjoy continued insurance coverage against your two-wheeler without any hassles.

Life is an enigma; it has countless possibilities with many struggles. The uncertainty of one's life is what makes it worthwhile and horrifying at the same time. Some investments made at the correct time could bear fruitful results for future; like opting a well-rounded health insurance policy for you and your family. Health insurance in today's time is not a luxury but a vital necessity given the rising healthcare costs and out of the world lifestyle choices by today's millennial.

Experienced financial advisors highly recommend buying a health plan in the early stages of life as premiums on health insurance increase with one's age. The premium criterion is based on the health history, age, lifestyle etc. of the insured candidate.

Here are the reasons to testify why do you have to take it now at the peak of your health?

Early age investment means full benefits – Opting for a health plan at a young age as early you start working will provide maximum coverage for your health scares. It also makes for a smart financial decision because of lowest possible premimum paid by you.

Poor Lifestyle Choices is on the Rise – You don't need to be 60 to require medical coverage. The laid back lifestyle has prompted entry to life-threatening illnesses like cancer, tumours and threats to the heart, brain, lungs. Hence, it is crucial to safeguard your health continually. Besides this, medical policies offer yearly checks ups to encourage health awareness.

Waiting period for the cover – There are specific listed ailments such as hernia, Cataract, ENT disorder for which there is a waiting period of one to two years before you get them covered. So starting early is always a more comprehensive option. 

Hectic work-related travel – The corporate worklife demands your time and extensive travel. A healthcare plan that covers both domestic and International medical emergencies along with well suited International medical benefits is yet again a very sensible choice.

The policy covering pre and post Hospital charges – Mainstream medical expenses, the cost of OPD (out-patient department), diagnostic tests have likewise ascended as of late which has made it considerably imperative for one to invest in healthcare policy. Your healthcare plan covers not just surgical or any other hospitalization costs but also the expenses brought forward via OPD and miscellaneous tests before and after a fixed time as set in the policy.

Rebate on Income Tax – Another merit of investing in a good healthcare plan is that the insured is eligible for tax exemption under section 80D of the income tax act on the premium paid for the health insurance policy.

So don’t let this crucial decision of your health take a back seat and invest in health insurance at a young age. In adition to it, when you buy a health insurance policy at an early age, you receive the benefit of lifetime renewability. You can renew health insurance online and enjoy the extended coverage for a long time.

There has been an exponential increase in the number of people opting for health insurances across India in recent years. The top reason is definitely not aggressive advertising by the Insurance Firms, but the health and medical costs that have dramatically risen lately. With much needed financial backup during the critical medical emergencies, health insurances do play an important role in helping you and your family not getting burdened by medical expenses.

Illnesses bring bad times, and an additional financial burden along with it. The rising medical treatment cost, every year, is one of the top reasons why health insurances become somewhat like a necessity for every average earning person.  

Kusum, a single earning mother of two sons, was leading a happy life and was awarded twice as the employee of the year. However, medical emergencies come unannounced. Life took a big turn when her father was admitted to the hospital for chest pain. Her father needed to undergo heart surgery, which not only for him but for the whole family were some of the stressful days of their lives. The surgery went well but left behind a huge dent on her father’s retirement savings and a lot of her savings too. Luckily her family had these savings and did not compromise on the medical treatment plan, but the incident did make Kusum learn a valuable lesson. It was time for her now, to understand Health insurances better and ensure that her whole family is fully insured in order to prevent herself from stressful financial aftermath. 

 As per the WHO statistics, about 70% of the hospitalization in urban India put the consumers in crippling medical distress as they blow up their entire income on healthcare.

Health insurances serve a better way to tackle such health emergencies with a range of insurance plans covering illnesses, accidents and surgical ailments, safeguarding the life of insured a bit easy after the medial process.

How are we helpful?

MAGMA HDI’s OneHealth insurance policies help you to access a whole range of insurance plans which you choose as per your personal needs or family size. With the benefits of cashless hospitalization over 4,100 hospitals, it helps in providing insured covers over accidents and critical ailments. Providing 24x7 claim assistance, hospitalization costs, cashless options, and keeps the insured and the family into financial ease. 

Though Kusum is dealing with a financial crunch and has to give away the dream of a world tour, but she is happy to have adequate family health insurance,putting financial distress at bay.

She might have learned in a harder way, but you can learn from her life incident and choose the best health insurance in india for the parents and yourself.

Health insurance is not a luxury but a necessity. Be a prudent individual by planning the best-fit health insurance and lead a much secure and happy life. 

Having a basic third-party insurance is a must as per the law, however, it only covers the risk of harm or damage to a third party, leaving you high and dry in the event of an accident. So, if you love your ride and your peace of mind, you need to go beyond the basics with a comprehensive motor insurance. Not only does it cover you and your car, but also offers an array of add-ons to truly protect your car.

What are add-ons?

Just as you get to choose from a range of toppings for your pizza to make it better, you can pick and choose from a multitude of add-on benefits made available to you by motor insurance companies in india . It offers additional coverage in return for a little extra premium. Here are some great choices to help you build your ideal plan.

1. Engine protection: If you live in an area prone to flooding, consider getting an engine protection add-on cover that allows you to get your engine repaired or replaced in case of water ingress. This benefit also applies to instances of leakage that could eventually harm your engine. Your insurance provider will cover the costs of repairs or replacements as long as they fall under coverage mentioned in the policy wordings.

2. NCB retention:  You take extra care of your car and even bear small costs yourself to save your NCB. Imagine after 4-5 years of carefully increasing the discount percentage, a small accident compels you to make a claim. You'll lose all the time and effort you had put into increasing your NCB because of a small mistake. This is where the NCB retention add on comes in which helps you protect your NCB even after you make a claim.

3. Zero depreciation: The depreciated value of your car refers to the regular wear and tear that decreases the value of your vehicle. In fact, even if you ensure not a single scratch comes to your car, it'll still lose value with time. So when you make a claim, it'll be settled keeping the reduced value of the parts in mind. Well, unless you have zero depreciation add on that helps you retain the value of your car even with time. This means you get the complete coverage for your claim with no out-of-pocket expenses.

4. Road-side assistance: If you fear anything going wrong on the roads such as a flat tire, dead battery etc., this add-on guarantees you assistance on the spot and is covered by your insurance provider. You can even get coverage against additional circumstances such as overnight expense coverage in case your car breaks down with Magma HDI's additional road-side assistance cover.

5. Invoice value: In the event of total loss, constructive total loss or theft of the insured vehicle, your insurance provider will pay the invoice value or even replace your vehicle with a new one if you opt for this cover. It will also apply to additional charges that may come with your vehicle such as customs duty, registration charges etc.

6. Key replacements: Losing your car key is probably one of the most common car mishaps. With this add-on, get reimbursed for getting a duplicate key or replacing your car lockset in case of a burglary.

7. Loss of personal belongings: In the event of an accident or burglary, you undergo tremendous amounts of stress as you can never fully recover the belongings. However, with this cover, you can put your mind at ease as it can reimburse the cost of your valuable belongings such as your laptop, phone etc.

8. Inconvenience allowance Motor insurance provides you with financial coverage in case of accidents or any other damages. Inconvenience allowance is a daily cash benefit that you are entitled to if you file a valid own damage claim. It can go for as long as ten days to cover all the repairs that your insured vehicle needs. Thus, leaving you prepared for any unforeseen damages no matter how big they are.

The key is to identify your needs and choose the add-on benefits accordingly while buying/renewing your insurance. Most of these add-on covers come at a nominal charge but are well worth the extra buck. For these add-on covers and much more, have a look here at what Magma HDI has to offer.

A health insurance policy is meant to save you from the financial impact of a sudden illness, accidental injuries, and critical diseases. It also works as a legal contract between you and the health insurance provider to bear the costs of hospitalization, doctor’s fee, and other medical expenses.

But, there are many unique provisions of general insurance in india that can be difficult for a layperson to grasp. But thanks to the internet, it's simpler now to understand many confusing concepts.

You can explore and browse through YouTube videos that lucidly explain every important term at your own convenience.

If you're left wondering which videos to watch, here are our top five picks:

1. HTTPS://WWW.YOUTUBE.COM/WATCH?V=W4ZWXBQRO-I

This is a video from Indianmoney.com, where they explain the best methods to find a suitable health insurance plan. The video tells you how to look for the maximum coverage on your insurance policy and how add-ons can help you in the future.

They also inform you about other important things like clarifying with your insurer about coverage for certain pre-existing diseases when taking a policy with a lesser waiting period to ensure you go in completely informed while buying your first policy.

2. HTTPS://WWW.YOUTUBE.COM/WATCH?V=X86NLVV6ERE

This link from My Insurance Club talks about the different types of health insurance policies available to us. It broadly divides all health insurance policies into two and then further talks about plans specific to your needs such as critical illness plans.

The video explains the type of policies with the help of examples that relate to real-life scenarios.

3. HTTPS://WWW.YOUTUBE.COM/WATCH?V=DBTMNM8D-84

This video from Consumer Reports explains the costs related to health insurance. Here, they explain deductibles, premiums and out-of-pocket maximums which are applicable to various health insurance plans.

You must have read or heard about these terms with regard to medical insurance policies. In this video, you can understand them better with in-depth explanations and visuals. It helps you to make better sense of health insurance in India and how your plan helps you.

4. HTTPS://WWW.YOUTUBE.COM/WATCH?V=9H-VSFU_B_Q

This is a YouTube video from Consumer Reports which is a quick guide to picking the right health insurance for you. The video tells you factors to look for while looking for health insurance. These may include services such as OPD or even ambulance fees. 

5. HTTPS://WWW.YOUTUBE.COM/WATCH?V=ZZAYPKW6W-G

This video from My Insurance Club talks about the major benefits of buying health insurance. These include cashless services, hospitalisation coverage etc. Check out this video to make sure that you are making the best of your plan.

These are some of the best YouTube videos related to various concepts of health insurance. Go through them to know your options better when choosing a plan for you and your family. 

Given the problems we still face as adults today, educating your kids about being responsible consumers is always a great idea. If you prepare your child with good planning skills now, they’ll be better prepared to face financial challenges in their adulthood.

So, here are some facts about health insurance policies for families that you can use to help your child understand what health insurance truly stands for.

1. Health insurance is essential for everyone

Who could need health insurance? The answer is every individual on this planet. Hence, it is extremely important for your child to know that the benefit of health insurance is invaluable at any stage of your life. No matter what your age is, the future remains unpredictable. This is an important lesson in itself which must be impressed upon your child.

2. The types of health insurance

Getting health insurance should always be an informed decision. In order for that to happen, one must be aware of the options available to them. These options could range from individual and family floater plans to special covers available such as critical illness and maternity care. The idea is to familiarise your child with these for when they do have to make the choice for themselves.

3. The plan can be updated with needs

When it comes to health insurance, many people tend to set it and forget it. And some think that the plan is set in stone - once you've bought it, you're stuck with it. But that's not true. It's important to teach your child that they can and should customise the policy according to their evolving needs. These may include risks that come with age or including your new family in the plan.

4. The importance of reading the policy wordings

Before signing up for any kind of insurance, you must be familiar with what all you are getting with it. No one likes to go through heavy and technical information but it helps you make informed decisions later. So it's important that you encourage your child not to ignore the policy wordings as it'd tell them about their policy's coverage as well as terms and conditions.

5. Health insurance is a necessary expense

In a world with rising expenses, how is one to determine what is worth investing in? Teach your child that health insurance might seem expensive while purchasing but helps you save more than that in the long run. With the rising cost of medical care, having health insurance would be even more important in the future.

Before your child grows up, it is crucial to prepare them with the best knowledge and resources.

Health insurance is one of the most significant things you can teach your child about to ensure a safer future for them.

Health insurance in India is a necessity in contemporary times as it takes care of your finances in case of any health emergency with the help of a single policy. That being said, even the most comprehensive plans come with some exclusions. These are mentioned in your policy document and are often standard for all insurance providers.

You can make the best of your policy only if you know its coverage as well as exclusions. So, here are some you should definitely know of before you sign up for a new plan:

Waiting period

The only risks your health insurance covers from day one are injury/ hospitalisation claims due to an accident. Other than that, all other medical conditions have a waiting period after which you can make a claim. For common ailments, the waiting period is between one to three months from the inception of the policy, whereas the more serious diseases are excluded from coverage for as long as the first year.

Pre-existing conditions

You must have been told repeatedly that making a full disclosure of your health status is essential to get the right coverage. The reason behind this is a standard exclusion which says that all pre-existing diseases have an exclusion period stated in the policy wordings. Falsifying or hiding critical information can render your policy void and will inevitably leave you hanging in the future.

Lifestyle diseases

While these have not always been a concern, the drastic change in our environment and daily routines have made this a necessary part of healthcare. Unless specified at the time of availing the policy, all lifestyle-related diseases arising from smoking, alcohol consumption or drug abuse are excluded from a health plan. You would either have to pay a higher premium or be denied coverage in cases involving such ailments.

Alternative remedies

Most insurance companies are only slowly warming up to the idea of alternative treatment options. Treatment systems such as Ayurveda, Naturopathy and Unani have conventionally been excluded from health covers due to a lack of support from the medical community, which makes it difficult for insurance companies to accommodate.

However, some insurance providers are beginning to recognise these treatments now and are providing optional benefits which you can opt for to get coverage for them.

Maternity and childbirth

Maternity benefits are an integral part of any family health plan. This includes the medical expenses incurred for childbirth, infertility treatment or even abortion. In most cases, you would have to opt for a specialised maternity plan which is subject to a waiting period. Hence, it is a great idea to keep your family's future in mind while picking your policy.

Cosmetic treatments

While your health insurance policy may mention coverage for all hospitalisation, treatments such as plastic surgery, laser treatments, weight loss programmes, liposuction, eye and dental procedures are excluded from this cover. The exception to this rule is cosmetic procedures after an accident as they are critical to the functioning and well-being of a person.

To conclude, when looking for the best health insurance policy in india , remember to get details of all exclusions and waiting periods from your insurance agent or the policy wordings available to you. After all, the unpleasantness of reading that massive policy document sure beats being caught in a lurch while making a claim.