Financial preparation and planning are an important and imperative step cum responsibility ones must take throughout life. A sudden death, health issue and so on can affect a family more than you think and plan your finances accordingly is a great step to keep the future of your loved ones stable if not perfect.
Though it may not seem like a necessary step, it is recommended that the earning member(s) of a family plan for their family in case of a mishap. One way of having a backup for such mishaps is applying for health insurance. These are so-called iron clad family protection options in case the sole provider(s) encounter death.

Though there are several health insurance plans out there, not every plan is as solid or as profound as an SBI General Health Insurance. Some policy companies will try to fool you into taking an expensive plan even though the plan does not cover much. Before choosing a plan, make sure you speak to your family members about the best plan and decide accordingly.



Read every term and condition before you sign documents. There are a couple of health insurance questions to ask before you sign any papers.

5 Questions You Must Answer Truthfully
  1. Do you have any pre-existing health problems?
    Most people tend to lie in this part as they feel if they don’t they won’t get the plan they desire for their family. It is always important to remain honest about current health problems (if any) because if you’re caught in a lie, the insurance company may take you to court, and who would want that?

  2. How much money do you make?
    Some people exaggerate their yearly income as some plans fall under certain income groups. It is recommended to state your actual income to avoid future problems.

  3. Will my Family receive funds as soon as possible?
    This depends. Some agents claim that your family will benefit within a week of your death, but some companies drag you through the mud for months or even years. Just to be clear, have your agent give you a written application or proof of the benefit duration.

  4. Will I Get a refund if I wish to switch plans with another company?
    Some companies say they do while others don’t. Be sure to have everything in written or in hard copy, so you do not face problems in the future.

  5. Will my family get the whole amount after my passing?
    Well, this is a tricky question. While many policies like SBI General Health Insurance do ensure your family gets the sum insured, some companies and plans deduct money disguised as tax or so. You will need to talk to the agency in question before signing any documents. 
Here Are Some Other Health Insurance Questions To Ask Yourself Before Applying For An Insurance Plan
  1. I have money saved up in case of a mishap. Do I still need to apply for financial protection after my death?
    Keeping aside money for your family in case of difficult times is a great way to secure your family financially. However, this isn’t enough. Insurance is a buffer that your family can rely on, something which no bank can freeze in case of suspicious activity. Also, those who apply for insurance are mostly exempt from tax.

  2. What is the return policy after my tenure of insurance is met?
    To be honest, it depends upon the health insurance plan or policy you are investing in. Some have higher returns while others don’t. An SBI General Health insurance for a period of years mints you more returns than a plan for a certain term like a couple of months.

  3. How much insurance do I actually need?
    This is a tricky question but a good one nonetheless. It really depends on your objective. You must invest enough to help get your family through at least a year. Below is an example to give you an idea of how much to invest. 

Let us assume the following:
  • Your monthly earnings = Rs. 60,000
  • Percentage cover for monthly salary = 80%.
  • Your Monthly savings = Rs.18,000
Estimated years of financial support for dependents = 15 years

[80% of your monthly income (i.e 60,000) = Rs.48,000]

[48000-18000 = 30,000X12X15= 5,400,000]

Based on the example above, you need to invest at least INR 5,400,000 as your health insurance cover.

Note: the percentage you wish to pay per monthly income is up to you and not defined.

Follow Us On: Facebook & Linkedin
health insurance sbi general health insurance

5 Questions About Health Insurance You Should Answer Truthfully

The Motor Vehicles Act makes it compulsory for all motor owners to get their motor vehicles insured for third party liability cover. As such if you are planning to own a car then you are required by law to get your car third party liability insured.
Yet there is much more to car insurance than only third-party liability cover.
 Future Generali car insurance solution provides a total car insurance package including third party liability insurance.

Inclusions Under Future Generali Car Insurance Plan

Future Generali car insurance policy includes the following under its ambit:

Third Party Liability Cover: Under the policy, third party liability cover is provided as per the stipulations of the motor vehicles act. Third party liability cover includes cover for injury, death and disability of third party or damage to property of the third party by car. The third party can be outside the car or seated inside the car.

Personal Accident Cover: This includes up to Rs 1 lakh cover for death or disability of owner while in the car due to the accident. Personal accident cover can also be sought for car driver and people known to the owner who can be family members, employees or other known people who may be seated inside the car (up to Rs 2 lakh).

Car Insurance: Under this feature, the car is insured against exigencies such as theft, accident, damage due to fire, damage due to natural calamities, damage due to riots or sudden acts of human violence.

Assistance: Future Generali provides assistance to policy holders in times of emergencies which include motor towing and repair assistance.

Exclusions under Future Generali Car Insurance Policy

The claims of Future Generali Car insurance policy are not honoured under several conditions which majorly include:

Normal Wear And Tear Of The Car: Car is a depreciable asset. With time and increased usage wear and tear may occur and these are not covered under car insurance cover. The expenses for correcting a decrease in car performance and deteriorated condition of car parts like tyres and other conditions which fall under normal wear and tear category need to be borne by the car owner.

Willful Negligence on The Part of Car Owner: If the owner has neglected the required maintenance and services of the car then there can be an accident due to malfunctioning of the vehicle on the road because of being deprived of proper care and the claim may get rejected on these grounds. Hence it is always advisable to get the regular maintenance done and preserve the service records.

Disregard to Rules and Regulations: If car meets with an accident due to going against driving and traffic rules then personal accident cover is ruled out and car cover is not provided if the person driving was the car owner.

Invalid Driving License: It is always advisable to pocket a valid driving license while driving. The occurrence of an accident while driving without a valid driving license can lead to the dishonour of applicable claims.

Inebriated Condition: If driver meets with an accident while under the effect of intoxicating substances, then personal accident cover is ruled out, and car damage cover is also ruled out if the person driving the car was the car owner.

Features and Benefits of Future Generali Car Insurance Policy

The prominent features and benefits of Future Generali Car Insurance Policy include:
  • Car insurance policy can be issued instantly online
  • Car insurance policy and No claim bonus can be transferred
  • No claim bonus up to 50%
  • Towing assistance for car upon breakdown or accident
  • Network of more than 2500 repair workshops across the country
  • Cashless settlements in networked repair workshops
  • Easy and swift claim settlement process
  • Car insurance premium discounts on
           Voluntary excess
           Anti theft devices
           Membership in recognized associations
  • Personalized services and interface points (under Future Express and Future Express +)
  • All time emergency assistance through customer helpline services
About Future Generali General Insurance Company
Future Generali GIC is a joint collaboration between Indian conglomerate Future Group and Italian global insurance leader Generali. The IRDAI registration number of the general insurance company is 132. The company has registered office in Mumbai and presence in more than 125 locations in India. The company has been creating industry performance benchmarks since its inception in September 2007.

Follow Us On: Facebook & Linkedin
car insurance

How Much Do You Know About Car Insurance?


Hospitals and primary healthcare centers were few and far between when the British were exploiting India for two centuries. Ever since we won independence and took over the reins of governance in the Year 1947, we have built hospitals all over the country in both the public and the private sectors.
National Insurance mediclaim renewal is a critical date in your annual calendar that you just cannot afford to miss.

mediclaim


Increased Life Spans
Ever since the advent of antibiotics and our understanding of the germ theory of disease, people are living longer than ever before. Vaccinations have been invented which are administered from birth till the time that one is an adolescent and a young adult.

However, the genetic legacy of our species also ensures that bodies start moving towards decay, disease and death from middle age till the time we pass away usually between our 70s to 90s.

Our life expectancy depends on how well-to-do we are financially and how healthy our genes are. Our life span depends on the income group that we belong to as well as the life span of our grandparents, great grandparents and parents.

Insurance As A Great Leveller
One equalizing and democratizing factor is now available on the market in the form of National Insurance mediclaim renewal. Even if we belong to the middle-income category or a low-income category in society, as long as we make it a point to invest a decent amount in annual National Insurance mediclaim renewal, we will be well-protected in times of medical emergency.

Another reality that you need to keep in mind is the escalating cost of quality healthcare in India. Private sector players in healthcare often charge unaffordable and usually astronomical amounts for hospitalization and unavoidable surgeries.

The sad reality is that the state has not been able to invest as much as was needed to provide quality healthcare in government hospitals. The wait for necessary surgeries is agonizingly long, and the standards of hygiene and comfort are often not at the level that many people would be comfortable with.

In such a situation, one is left to one’s own devices. To ensure that you do not erode your wealth on hospitalization and surgeries for yourself and for the members of your family, you need to ensure that you pay your National Insurance mediclaim renewal annual premium on time.

In case you happen to be without mediclaim cover for even a day, no one can guarantee that a medical emergency will not strike on that very day. It is in the nature of random chance that a crisis of any nature can strike any day whatsoever. Customers who are wise and responsible make it a point to pay their National Insurance mediclaim renewal on time.

New Disease Germs Proliferating In The World
With the eradication of much biodiversity over the last century and the control that we are gaining over many diseases and microbes, many new forms of diseases like swine flu and bird flu are now afflicting human beings.

The provision of public health, hygiene and the prevention of diseases are dynamic and moving public goals. As customers, we need to ensure that we pay our National Insurance mediclaim renewal premiums on time.

It makes eminent sense to purchase bundled family mediclaim plans. Such plans cover both parents as well as dependent children.

Injuries That Lead To Hospitalization
Hospitalization need not be necessitated only by illness. It is also possible for injuries to land one in the hospital and in the surgical wards. If you have paid your National Insurance mediclaim renewal on time, you and your family members will also be covered in case of injuries that may lead to hospitalization.

Overseas Travel Mediclaim Cover
It is advisable for you and your family members to be covered by mediclaim when you travel overseas on business or pleasure. Given the difference in the values of different global currencies (say the U.S. Dollar versus the Indian Rupee) and the Dollar or Euro-linked costs of hospitalization and healthcare abroad, it can lead to serious erosion of your wealth in case you do not purchase mediclaim when you travel abroad.
health insurance

5 Quick Tips About Mediclaim Renewal


The good old days saw the toughest motorbikes and scooters – However, the modern day two wheelers are expensive and require a lot of maintenance. Damaging or losing your vehicle can cost your thousands or even lakhs. Thus, safeguarding your bike with a two-wheeler insurance is a must. Companies have started offering the best policies designed to safeguard your bikes like - the IFFCO Tokio bike insurance policy 

There have been many companies offering bike insurance services, and among them, the IFFCO Tokio bike insurance has managed to offer some pretty good motor insurance policies leading to satisfied clients and faster claim settlements.

iffco tokio bike insurance


KEY Features Offered by IFFCO Tokio Bike Insurance Service

There are several motor insurance companies that provide the latest and the most competitive features. A trending motor insurance service is offered by IFFCO Tokio general insurance policy that includes the following features- 
  • Cashless claim settlement 
  • No claim bonus offered on renewals. 
  • Policy transfer facility from another company to the IFFCO Tokio bike insurance policy

Note – You don’t need any IFFCO Tokio promo code to avail the above benefits

Tips to Get Your Bike Insurance Claims 
Getting your insurance claims can be frustrating and time taking. Taking the concern into consideration the IFFCO Tokio bike insurance department suggests you the following steps that can help you get your insurance claim –

Do not Admit Your Fault
If you met with an accident, you should always follow one golden rule – “Never accept your fault”. Be extremely careful with the statements you make on the accident spot. Any statement made without thinking can affect your claim and drag you to the court.

Obtain a Copy of the Police Report & Take Pictures of the Accident
Taking pictures instantly on the accident spot is a huge positive and can greatly strengthen your insurance claim. Thus, it is always a great idea to instantly take photographs of the physical damage, broken parts, accident location, other party’s vehicle etc.

Taking pictures of your bruises and fresh wounds is a great idea, as it strengthens the trust of the insurance companies regarding the possibility of an accident 

In case the police officer/s are available on spot, do not forget to note down the name and the contact number of the investigating officer. You can follow up and get the police report as soon as possible.

Note- The IFFCO Tokio bike insurance company believes that getting the police report ensures faster claim settlement, in case of accidents as well as theft.

Inform Your Insurance Company
You should immediately call the insurance company and provide information on every minute detail like - date of the accident, time of the accident, the police report number, reason of accident etc. It is also mandatory to give the insurance details of the other person. 

You must ensure that you don’t provide any false information as 99 percent calls are recorded, and any discrepancy in information will affect your insurance claim.

Property Damage Payment
The insurance company’s claim settlement manager may instantly ask you about the estimated damage. Remember, estimating the exact damage of your bike needs a thorough inspection. Never quote a random figure – Rather, ask the claim settlement manager to give you sufficient time to determine the exact damage cost.

Some insurance companies may ask you to get your bike repaired in a specific garage; you need not follow their instructions. The insurance companies might have tie ups with those garages, and the mechanics might use low-cost materials to recover your damage 

As per the law, no insurance company can force the clients to get their bikes repaired in a specific garage or work shop. It is always advisable to get your bike fixed by the best mechanic or someone you can really trust.

Key Consideration
A few insurance companies often put the blame on the biker, and hold him/her responsible for the accident to forfeit his/her insurance claims.

Hence, it is important to review the accident report of the company and verify it’s record in the assessment of fault. The information can be generated online upon special request.

Through the above information, IFFCO Tokio bike insurance company aims to provide the most authentic help to its clients. Thus, believes in educating the policy holders that contributes to faster claim settlements.

Follow Us On: Facebook & Linkedin
bike insurance

4 Tips to Get Bike Insurance Claim

7 Precious Tips To Help You Get Better At Health Insurance

Here is Everything You Need to know about Bajaj Allianz Two-Wheeler Insurance

Why Renew Your Policy of National Insurance Company Online?

Subscribe to: Posts (Atom)