Life Insurance Information is very important for those who want to insure themselves and their near and dear ones. There are many people involved in the life insurance business and one needs to have Life Insurance Information at the fullest before dealing with any of them.
There are three important types of insurance policies available in the market. These are:
# Whole Life Insurance Policy
# Term Life Insurance Policy
# Accidental death Policy
Whole Life Insurance Policy: One needs to have full Whole Life Insurance Information before buying a policy. The whole life insurance policy provides coverage for the whole of life and even after death. The premium rate is thus fixed and a little higher than other insurance policies. It also provides added facilities such as pensions and accidental disability compensation and many more.
Term Life Insurance Policy: Term Life Insurance is a kind of policy which lets the insured to change the policy after certain period of times according to one's needs. The premium for this life insurance policy is lesser than other policies. But the insured is only compensated if he dies within the contract period. There is not even any cash back possibility.
Accidental Death Policy: One needs to have the accidental Death Life Insurance Information because it does not provide compensation for any kind of death other than accidental deaths. This policy is only available for short term policy and there is no cash back opportunities.
Know your auto insurance limit
Reports furnished by IRC or Insurance Research Council reveal that more and more people are reducing their auto insurance coverage to save cash. But this isn’t desirable. The IRC also anticipates that the rate of the uninsured will escalate to 16.3% in 2010 from 13.8% recorded in 2007. Auto insurance limits are highly case specific and as of 2007 the auto insurance cost was approximately USD$847(Insurance Information Institute).
Opting for the right auto insurance limit is an important decision you are required to take prior to buying an auto insurance policy. This is because the coverage you opt for will decide whether it is adequate and if you will be able to afford the payments for your premium. It also requires that you understand the factors that determine your auto insurance cost as well as the coverage extended by your auto insurance policy.
There are many states that require you to buy auto insurance for covering your medical expenses too. Your auto insurance limit is the dollar amount that you are entitled to get in case you make a claim for a loss that is covered. The loss you have incurred should fall within the purview of the boundaries your auto insurance policy has set.
If you have a higher auto insurance limit you also pay a higher premium. There are many consumers that reduce their coverage to shed costs. But it is best not to compromise with your coverage. Many states make it mandatory for you to have a minimum coverage limit.
How is your auto insurance limit determined?
- First of all find out the minimum liability limits that are mandatory in your state.
- Insurance protects your assets when a lawsuit is filed against you so determine your assets.
- If the age of the driver is less than 25 years and above 65 years, auto insurance limit will be high.
- Keep in mind that you may be responsible for damaging more than one car if you are involved in a chain of accidents.
- Driving record and history of accidents
- The type of vehicle you own
- The age of the vehicle
- Place where you dwell
- The amount you are paying as deductible etc.
There are few factors that can be worked upon to keep your auto insurance limits within your reach. Understand your requirements thoroughly before you buy an auto insurance coverage.
Personal Accident Insurance Online
Sometimes even a small accident or mishap can throw your financials out of gear.Get insured to be prepared for those trying times.
Accident Shield Online Insurance is a worldwide, Personal Accident Cover that is specially designed to protect you from the following unforeseen events - Death, Total Disability and Permanent Partial Disability. This comprehensive policy will help your family meet its financial commitments in the hour of need.
This is available for the age band between 5 to 70 years. The proposer's age should be between 18 to 70 years.
Key Benefits
- Instant Coverage
- No Medical Examination
- Worldwide Cover
- Three convenient plans to choose from
- Silver, Gold and Platinum
- Educational Grant for 2 dependant children up to Rs. 10000/- per policy
- Family discount of 10% for insuring 3 or more people in a family
- Simple and easy claims process
Accident Shield Online Insurance is a worldwide, Personal Accident Cover that is specially designed to protect you from the following unforeseen events - Death, Total Disability and Permanent Partial Disability. This comprehensive policy will help your family meet its financial commitments in the hour of need.
This is available for the age band between 5 to 70 years. The proposer's age should be between 18 to 70 years.
Key Benefits
- Instant Coverage
- No Medical Examination
- Worldwide Cover
- Three convenient plans to choose from
- Silver, Gold and Platinum
- Educational Grant for 2 dependant children up to Rs. 10000/- per policy
- Family discount of 10% for insuring 3 or more people in a family
- Simple and easy claims process
Other Benefits of Car Insurance Online
- Special Model Wise Discounts on Own Damage Premium for your car.
- Discount in premium up to 5% on the Own Damage Premium (or) Max of Rs. 200/- for a valid Member of Automobile Association of India.
- Discount in premium up to 2.5% on the Own Damage Premium (or) Max of Rs. 500/- on Installation of Anti-Theft Device in your car.
- Discount of Rs. 100/- in Third Party Basic Premium on reduction in Limits of Liability for Third Party Property Damage.
- Discount of 35% on Own Damage Premium subject to a maximum of Rs. 2,500/- on opting maximum voluntary deductible of Rs. 15,000/-
- Transfer of No Claim Bonus (NCB) from other insurance company on renewal with Royal Sundaram’s Car Insurance Online Policy
Important Features of Car Insurance Online
This Car Insurance Online governed by the India Motor Tariff Act. The key features are:
- Protection from loss of car or damage to your car.
- Unlimited Liability for Third Party death/ injury Claims.
- Indemnity for third party property damage up to a limit of Rs. 7.5 lakhs.
- Speedy authorisation of repairs to get your car back on the road.
- Personal Accident Cover for you, your paid driver and the occupants in the car.
- Customer Helpline to give you support and guidance when you need it.
- Efficient and worry free claims service to give you peace of mind.
- First Information Report is not required (Unless legally mandatory)
- Protection from loss of car or damage to your car.
- Unlimited Liability for Third Party death/ injury Claims.
- Indemnity for third party property damage up to a limit of Rs. 7.5 lakhs.
- Speedy authorisation of repairs to get your car back on the road.
- Personal Accident Cover for you, your paid driver and the occupants in the car.
- Customer Helpline to give you support and guidance when you need it.
- Efficient and worry free claims service to give you peace of mind.
- First Information Report is not required (Unless legally mandatory)
3 Important key reasons to renew your policy on time!
Health Insurance – 3 key reasons to renew your policy on time!
Did you know it is not enough to merely get yourself a Health Insurance Policy, it is very important to renew it on time, before the expiry date every year to get the full benefits of a Health Policy.
Though some insurers allow certain days of grace period after date of expiry for renewing, Your health/mediclaim policy should ideally be renewed at least 10 to 15 days before the date of expiry to ensure you do not lose the continuity benefit that comes with a Health Insurance cover.
Here are 5 important reasons why you should continue to renew your health insurance with the same health insurance company over the years:
1. No Claim Bonus (NCB) / Discount
A health policy entitles you an increase in the basic sum insured for every claim free year subject to certain limits. So, it is important that you renew your policy every year to avail this benefit over the years.
2. Coverage for pre-existing diseases and temporary exclusions
In most health/mediclaim policies, pre-existing diseases gets covered usually after 4-5 years and there are certain diseases (even if they are not pre-existing) which are covered from 2nd or 3rd year onwards.
If you fail to renew your policy on time or shift your policy to another insurer, the exclusion period again starts from scratch, nullifying all your timely renewals during the previous years.
3. Waiting Period
As you know that most health mediclaim policies don’t allow for any claims during the first 30 days; in case of non-renewal of policy in time or change of insurer this waiting period of 30 days also starts afresh.
It is very important to renew your health / medical policy on time, every year. If there is a break in the policy, you stand to lose out many benefits which you acquire over a period of time.
Did you know it is not enough to merely get yourself a Health Insurance Policy, it is very important to renew it on time, before the expiry date every year to get the full benefits of a Health Policy.
Though some insurers allow certain days of grace period after date of expiry for renewing, Your health/mediclaim policy should ideally be renewed at least 10 to 15 days before the date of expiry to ensure you do not lose the continuity benefit that comes with a Health Insurance cover.
Here are 5 important reasons why you should continue to renew your health insurance with the same health insurance company over the years:
1. No Claim Bonus (NCB) / Discount
A health policy entitles you an increase in the basic sum insured for every claim free year subject to certain limits. So, it is important that you renew your policy every year to avail this benefit over the years.
2. Coverage for pre-existing diseases and temporary exclusions
In most health/mediclaim policies, pre-existing diseases gets covered usually after 4-5 years and there are certain diseases (even if they are not pre-existing) which are covered from 2nd or 3rd year onwards.
If you fail to renew your policy on time or shift your policy to another insurer, the exclusion period again starts from scratch, nullifying all your timely renewals during the previous years.
3. Waiting Period
As you know that most health mediclaim policies don’t allow for any claims during the first 30 days; in case of non-renewal of policy in time or change of insurer this waiting period of 30 days also starts afresh.
It is very important to renew your health / medical policy on time, every year. If there is a break in the policy, you stand to lose out many benefits which you acquire over a period of time.
A Hospital Cash Insurance policy is supplementary to your Health Policy.
Hospital Cash Insurance Policy is not a Health Policy, it is a daily cash benefit insurance which helps you meet miscellaneous expenses during hospitalisation which are not even covered by regular health insurance.
Hospital Cash Insurance and Health Insurance are not the same. The compensation provided by Hospital Cash Insurance does not cover the cost of medical treatment. While a Health Insurance policy only covers the cost of medical treatment incurred by the policy holder, Hospital Cash acts as supplementary to health insurance as it provides cash benefit aimed towards:Special diet expenses of the patientTo and fro conveyance from hospital and backExtra bed for person staying with the patient
Instant benefit available by opting for a Hospital Cash Insurance is a Saving in Income Tax. Premium paid for getting Hospital Cash Insurance is eligible for tax deduction as per Section 80D of Income Tax
A Hospital Cash Plan is available to persons between the age of 1 year and 60 years at the commencement date of the Policy. Renewal is accepted up to 70 years.
This cover is available for Self, Spouse, Dependant Children and Dependant Parents.
This policy also provides daily benefit for hospitalization due to terror attacks.
Hospital Cash Insurance and Health Insurance are not the same. The compensation provided by Hospital Cash Insurance does not cover the cost of medical treatment. While a Health Insurance policy only covers the cost of medical treatment incurred by the policy holder, Hospital Cash acts as supplementary to health insurance as it provides cash benefit aimed towards:Special diet expenses of the patientTo and fro conveyance from hospital and backExtra bed for person staying with the patient
Instant benefit available by opting for a Hospital Cash Insurance is a Saving in Income Tax. Premium paid for getting Hospital Cash Insurance is eligible for tax deduction as per Section 80D of Income Tax
A Hospital Cash Plan is available to persons between the age of 1 year and 60 years at the commencement date of the Policy. Renewal is accepted up to 70 years.
This cover is available for Self, Spouse, Dependant Children and Dependant Parents.
This policy also provides daily benefit for hospitalization due to terror attacks.
