Health insurance takes into account important health, illness and accident expenses by protecting you from unexpected, and costly medical expenses. It not only ensures you medically but acts as a health investment for you and your loved ones. There are usually a lot of health insurance plans to cover all needs of the individual and their family members and each offer benefits accordingly. These include -
Health insurance offers numerous benefits which are as follows:
But before you opt for any health insurance plan make sure to :
Read Also: ADVANTAGES OF LIVING IN A JOINT FAMILY
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Motorcycle purchase and the motorcycle insurance policy purchase go hand in hand. It is not only the ideal way, it is mandatory to have an insurance policy. No one wish or dream of meeting an accident, but when you are on roads, you may meet with some uncertain situation.The financial requirements of the situation then needs to be beared from your own pocket. To avoid such things, you should have a motorcycle insurance policy. Why Need To Avail Bike Insurance? If your motorcycle gets involved in an accident, you have to pay out of your own pocket for injuries to self and third party. In such situation, you will lose your savings or income due to the financial and medical obligation of the accident. But, a motorcycle insurance plan will cover the financial losses that you may incur. Thus, to be on the safe side and to save your pocket, you should avail a motorcycle insurance policy. Types of Plan While availing a motorcycle insurance, you should choose the right type of plan. There are two types of plan- one is liability only policy and other is the comprehensive plan. Make sure, your insurance plan covers a third party in case of bodily injury and/or death or property damage or any third party. The owner-driver is also granted for the personal accident cover. A health insurance is not only required when a medical emergency strikes but is also useful when any family member gets ill. A health insurance coverage is for you and your family betterment. So, you must choose an insurance plan wisely, so that your claim gets rejected and the main purpose of availing the insurance fails. If your claim has already got rejected, then you must be wondering the reason of rejection and if you haven’t applied yet, then you must be careful about the rejection. Here are some the major cashless health insurance claims rejection reasons: First reason can be an incomplete form If there are some mistakes in the form, you do not fill it correctly, leave some information blank or provide any invalid information, then your insurance claim may get rejected. Thus, you should provide complete and updated information, so that, you do not face any complication. Second reason can be the claim beyond your policy details If you ask for a claim that is not included in your health insurance policy, then the insurer may reject your claim. So, your claim application should only include the facts that are covered by your medical insurance. Third reason can be the treatment procedure or diseases not included
The procedure to apply for a claim may be different from one insurance company to another and you may be following a different one. You can talk to the representative of your insurance company and know their claim submission procedure, so that, your claim application does not get rejected. The same thing may happen with the diseases. There are so many diseases, some may not be included in your health insurance policy and in this case also your application may get rejected. Are you planning to buy a car? Regardless of the brand and the ownership status of the car you are buying, the first and foremost thing for every buyer is to buy a car insurance policy first. Even if you don’t like the idea of spending money towards a car insurance, you must have a personal accident insurance in place if you drive a car, irrespective of why and for how long you drive it daily. A personal accident insurance policy is of utmost importance for people driving a vehicle, even two-wheelers for that matter. It is an annual policy which provides compensation in the event of injuries, disability or death caused solely by violent, accidental, external and visible events. Why is personal accident insurance policy important in India, especially for people who drive?
The above-shared facts are enough to ring a bell, but if it doesn’t; a personal accident insurance is necessary to save your loved ones from the financial burden if you ever get critically injured in a road accident. If you get the relevance, take a look at the different products available in the market and apply for a suitable personal accident insurance.
Read Also: Why Buying Personal Accident Insurance Plans is Important? Maternity Insurance is necessary to cover all types of medical expenses related to maternity. You must have a maternity insurance beforehand, so that, whenever you need it you can use it immediately. But, before you take an insurance, you should notice that it must cover hospitalization expenses, pre/post natal expenses, normal or caesarean delivery, and new born baby cover from day 1 to 90 days of childbirth. What are the things you should know before buying a maternity insurance plan?
To know more tips, read: Vital Facts To Know About Maternity Insurance In India
A life insurance policy is an agreement between a normal person and an insurance company. As per the agreement, the insurance company promises to provide the assured financial assistance to the insured’s family after their death. However, in return, the insured is liable to pay a small sum after every fixed interval to the insurer. This frequently paid sum is known as an insurance premium. Now, people looking for reasons to convince themselves about investing in a life insurance, they can read some articles on the internet. A life insurance lets you fulfill your responsibilities towards your family to a certain extent when you are no longer with them. It is an indispensable need and if you are planning to buy one, check out the factors you need to keep in mind. 1. The reason for investing: Not knowing the reason, basically lacking the clarity about why are you investing is a cardinal mistake. For the most part, you won't know how much you should invest, for how long you should invest, and how much coverage should you go for. Plus, lacking the clarity will make it difficult for you to choose the right add-ons. 2. Claim settlement ratio: What is the point of investing in an insurance policy that doesn’t give your family the financial assistance when they need the most? Thus, to avoid such circumstances, check out the claim settlement ratio. Claim settlement ratio is basically how fast an insurer settles a claim. 3.Coverage: Lastly, if you know why you are investing, do some calculations and find out how much will you be needing when the life insurance policy matures. Compare the trend in the past and present, and then forecast the future need. In the end, check the reviews before buying an insurance policy.
Precautions are better than cure! You should always be careful that you need never ever meet with an accident. But, accidents happen most accidentally. It is the most unexpected and undesirable incident that can occur in someone’s life. An accident can leave you disabled and dismembered which leads to additional medical expenses.You need to buy a personal accident insurance to handle these sudden financial puddles. Personal Accidental Insurance policy covers accidental death or disability and gives financial stability. Coverage- An insurance can safeguard you and your family as it gives high coverage. High coverage will include the sum assured should be 10 times the amount of your salary as it takes into account inflation and rising hospital cost. This insurance policy will give a balance between death and disability benefits. Premiums- You have to pay regular instalments, monthly or quarterly or half-yearly or annual basis, to keep the policy valid. In case of life and health insurance premiums, it is dependent on the age of a person. Higher the age, the higher will be the premiums. But, in case of personal accident insurance policy, premiums are decided based on occupation and not age. There are 3 categories of premiums-
To know more also read: Personal Accident Insurance Coverage Secrets to Know
Insurance plan is necessary for all, but it is all the more essential for working women. If she is the sole earner of the family, she cannot take risks. She needs to be prepared for the financial fortification against uncertainties of life. A life insurance or term insurance not only protect you but also gives you the facility of tax savings. She needs to think of her family in her absence. Her family should be financially independent in case of an unfortunate event. A term insurance plan gives a substantial coverage at affordable premiums and offers various facilities such as: Acts as financial cushion It provides financial cushion to the family of working women, in case something unfortunate happens to her. The sooner you opt for it, the higher you get coverage. You just need to pay an annual premium. You can even calculate the premiums to be paid by using an online term insurance premium calculator. If any unfortunate happens, your family will get the money for day-to-day expenses. Address liabilities incurred in form of loans In case you have taken a loan for buying a home, car or funding higher education for children and every month EMIs are deducted from your salary, it will be difficult for your family to bear the same after your death. They can easily get rid of the liabilities with the money from term insurance.
Life insurance eliminates the worries that comes with premature death or any related scenario. It secures you emotionally and financially for up to 20 or 30 years so that financial needs of your loved ones are met, even when you are not around. Reasons why you must get life insurance:
You are at the peak of your life while you are in your thirties. As you grow up, your life becomes more stressful and you face an overall decline in your health. Hence, the 30s is the perfect time you subscribe to a term insurance plan. Why? Read the top three reasons.
Last but not the least, subscribing to a health insurance policy earlier in your life ensures you provide your family with a robust financial cushion in case of an eventuality.
For anyone owing, purchasing, and driving a car it is mandatory for them under the Motor Vehicles Act, 1988 to purchase the third-party car insurance policy. It protects the driver or car owner from any legal liability, financial loss, property damage, vehicular damage, medical expenses incurred in the event of a collision due to your vehicle. Let’s know about benefits of third party car insurance cover. 1. The policy covers the insured driver’s legal liability in the vent of a collision causing death or injury to third party including loss or damage to their property. The insurance company takes care of the financial and legal aspects of the unfortunate incidence solely benefitting the third party. 2. It takes the stress away caused due to the mishap. Instead it lets you focus your energy to offer immediate relief and support to the injured. 3.This policy has proven to be monetarily beneficial to the insured in terms of premium and costs incurred. This is because evaluation of policy is done based on the income and repayment capacity of the holder. Thus, ensuring it does not cause financial burden on the insured.
4.The policy can be easily accessed, bought and renewed online from the official website of the lender. This helps to save your time. You get in touch directly with the insurance provider to understand the nitty gritty of the policy. You save yourself from having to pay intermediaries offering policy cover. Read Also: Is It Worth Buying A Third Party Car Insurance Policy? 5.Being easily accessible online the policy coverage is easy to track. As a policy holder renew it, review it, upgrade it, make claims, make payments etc. from anywhere anytime. Healthcare inflation in India is close to 20% as compared to overall inflation of 8-9% per cent in the past few years. This explains why people term health investment i.e. health insurance as the best investment. The fact is, a medical insurance has become an inescapable need for human beings, especially for people who are close to their retirement. A health insurance, the individual ones or the family floaters, is crucial for two crucial reasons: cover all the medical expenses incurred by the insured with time, and preserve their short-term and long-term assets from being consumed by medical bills. Accordingly, choosing a health insurance scheme for senior citizens is not enough, choosing a good insurance scheme that covers the expenses incurred due to pre-existing ailments along with the expenses incurred due to the new ones, at an affordable premium is what you. It’s not very difficult to obtain such policies, all you have to do is compare all the health insurance policies in the market using the right factors, and bingo! You will have the perfect scheme right in front of your eyes. So, what are the factors you need to consider while comparing different policies? Check them below.
1.Age limit of the policy in accordance with your age. 2. Sum Insured. 3. The network of hospitals. 4. Pre-existing disease coverage to ensure you don’t have to pay the expenses incurred due to your pre-existing ailments. 5. The availability of critical illness cover and the limit. 6. Co-payment: the percentage of medical expenses you’ll have to pay from your own pocket. Read Also: Guide to Compare Health Insurance Plans for Senior Citizens in India Lastly, compare the policies as per the premium amount after they qualify the above-mentioned parameters and apply for the most suitable one. Have you ever heard of a Personal Accident Insurance? You must be aware of it so that you can make full utilization of its benefits in your life. Personal Accident Insurance is a policy that provides compensation to the insurer in the event of a disability or death arising due to an accident in the normal course of life.
You can meet with an accident at your workplace, home or roads, anywhere anytime. Personal accident policy assures you by giving financial help when it is your fault or someone else fault, when it comes to burns, hospital expenses, medical bills, ambulance cost and all other kinds of related expenses. You can avail Individual Personal Accident Policy, where it covers only an individual, Family Personal Accident Policy, where it covers all the family members, or Group Personal Accident Policy, where it includes all the workers of an organisation/group. When you apply for a Personal Accident Policy, you should consider certain factors while selecting the insurance company. The company will calculate the premium depending on the exposure to risk at workplace, employment group, nature of work, etc. Also Read to Know More: What Is Personal Accident Insurance? They will provide benefits to insured person for suffering injury resulting in death or disablement arising from an accident caused by visible and external factors. Max Bupa Health insurance is a leading insurance provider as they have a high Claim Settlement Ratio with no hidden costs. Max Bupa Health Insurance offer 3 major plans to safeguard your family in times of medical emergency. These are Hospitalization plan, Critical care plan and Accident care plan.
Their plans cover a maximum of four family members which includes 2 adults and 2 children. These plans provide lifetime renewal and hence once availed the family does not have to purchase a new insurance policy when the current expires. Here are important benefits of Max Bupa Health Insurance.
As most NBFCs offer attractive insurance plans you may check out aggregator sites to compare plans and claim additional benefits. There is no guarantee to our lives. Any day anytime we can meet some odds of life or something unexpected may occur. We may not be able to resist those, but we can cover ourselves with a proper insurance policy. Some of the best insurance policies are: Term Insurance A term insurance is a scheme that works by offering a financial coverage to a policyholder for a fixed period. Hereafter your death, your appointed beneficiary or your family will be eligible to receive a lump sum amount from the insurer. It will be good for your loved ones as they will be able to tackle the situation well in your absence. They will get lump sum amount which will ease their lives and help to consolidate debts. Health Insurance Medical expenses are sky-rocketing day by day. You have to financially ready to face any unexpected medical emergency. This may disturb your income and savings. To manage untoward medical expenses, a health insurance plan becomes necessary. A standard health insurance plan will cover the cost of medical procedure, hospitalization expenses and many more. There are various other insurance plans such as cancer insurance, etc. To know in details, read: 5 BEST INSURANCE POLICY TO AVAIL AT ANY AGE As the future can be highly unpredictable, it is always a wise decision to start saving and investing towards it. No matter when you plan to start investing make sure to choose the opportunity bearing in mind the needs of your loved ones and yourself. A term insurance combines the benefits of a life insurance policy that keeps an individual covered for the inevitable event of death while also providing a lump sum amount and having a low premium expense. With a term insurance, the nominee is entitled to receive an assured lump sum when the policyholder expires in the term of the policy. In case nothing were to happen to the policyholder during this tenure, the assured sum is not granted. It is because of this feature that the costs of a term plan are much lower when compared to other plans. Planning for the financial security of a child’s future is one of the major responsibilities parents need to fulfill. There are significant expenses such as for the education, wedding and other aspects for which parents save and invest a portion of their income from quite an early stage. There are several insurance plans to consider that are aligned towards securing a child’s future.
One of the most practical ways to secure the future of a child financially is by opting for a child insurance plan. In this regard, planning is key and there is no such thing as going overboard. Considering the increasing costs of education, parents do not want to compromise on the dreams of their child (or children). They will leave no stone unturned to support them in all ways and help them become who they want to be. Saving and investing in the right financial instruments are a significant part of this planning. For a majority of us, well being our beloved ones is of greater importance in comparison to our own health. People take up strong measures to safeguard their family's health to prolong their life. In that context, to gain an upper hand on the uncertainties that will occur later in life, a functional health insurance is more than just necessary. However, when you plan to do so purchase a health insurance for family, there are a few things you must keep in mind. A health insurance policy offers financial coverage and more during any medical emergency pertaining to illness or injury. This coverage is for planned medical expenses such as a surgery or childbirth; it can also be for unplanned and sudden medical emergencies like an accident or the diagnosis of a chronic ailment. Considering the deteriorating lifestyles of people, occurence of diseases and ailments have increased to a great extent. To top it, health care costs are escalating by the day, which makes even the most basic treatment at a reputed medical establishment inaccessible for the common man. As a result, health insurance has become a basic necessity in today’s time for all individuals. |
AuthorAlisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health. She has in depth knowledge and has written more than 1200 blogs on topics related home and car insurance. She also provide you with knowledge about home improvement and cooking. Categories
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