Life Insurance is a type of insurance policy which provides financial support to the insured person or to insured person family from a premature death or after a set of period. Under a Life Insurance Act in India, the Insurance Company is responsible to pay a definite sum of amount to the insured family on premature death of insured person.
What is Life Insurance ?
Life insurance is a harmony contract between an insurance company and policyholder, under which the guarantee to pay definite sum of money to the nominated beneficiary due to any sudden demise of the policyholder during the term of policy. During the term period the policy holder agree to pay a certain amount of premium on a regular basis or a lump sum amount.
Types of Life Insurance Policies :
Insurance subject is very vast, It means insure & assure your valuables, health and most important Life :
Health Insurance used to be part of General Insurance, but as the times have change the human life style has also changed. Health is a very important factor. Insuring ones health was not taken seriously. Stressful and high life style has made people realise the importance of health and hospital expense, which drained out many people’s wealth and brought grief to family members. Insurance Regulator gave Health Insurance Significance and as a result there are stand-alone Health Insurance companies, who provide cover to all age group of people (Age 0 to 100) with cashless facility.
Medical emergency come unannounced; YOU DESERVE THE BEST HEALTHCARE !!! NEVER COMPROMISE.
Health Insurance is Indemnity based policy. It protects you from unexpected, high medical costs. Not having adequate health insurance not only leads to financial drain but also affects the entire family emotions. Health Insurance is solution of uncertainties & risks those are prevalent & ever pervading in human life. It offers you the liberty to lead the life of your choice & stay worry free always.
HEALTH INSURANCE DOES COSTS MONEY BUT NOT HAVING ONE CAN COST YOU SEVERAL TIMES MORE.
GENERAL INSURANCE MEANS A RISK COVER FROM PIN TO AEROPLANE, few of them are :
This insurance cover is to be taken by people having ownership of the property/Asset, having insurable interest. This policy reimburses cost of repairs/replacement due to Fire & Special Perils, means fire due to any reason and Earthquake, Flood/Strom, Gods Act etc.
The losses which can affect the normal travel plan of Individual, family and student. This is normally taken by a person travelling Foreign Country as it has become compulsory at the time of Visa Application and most importantly it helps in illness during our stay aboard.
Today mishaps are very regular, this policy is very appropriate for working class, as they have to travel from home to work place by various modes of transport. It covers all types of disabilities, weekly compensation for 52 weeks during your absenteeism from work due to accident.
Motor car/Two wheeler/ Commercial vehicles are mandatorily insured. This policy helps in claiming repairs/replacement cost due to any accidental damage to vehicle, third party, third party property.
Financial Liability occurring in normal course of business, due to fire/machinery breakdown etc.
What is Health Insurance ?
Coverage that provides for the payments of benefits as a result of sickness or injury. It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment"
The term ‘Health Insurance’ relates to a type of insurance that essentially covers your medical expenses or by reimbursement. To entice quality employees, health insurance provide employee benefit package. Benefits received by insured against insurance are tax-free.Approved by IRDAI, Satco provide you with a comparative insurance product.
Benefits of Health Insurance
Types of Health Insurance Policies in India :
Why Personal Accident Insurance?
Life is uncertain & immeasurable. Accidents & uneventful incidents never ring a warning bell before they strike. Road mishaps, accidents have gone up tremendously & the victims along with their families suffer the consequences of the such unfortunate situation. Alarming statistics report about 1214 road related death that occur in India every year; this should be an eye opener on the perils an individual is exposed daily.
While minor accidents can cause temporary hurdles, major ones can lead to disability for life or even demise. With a view to providing certain relief, insurance companies have devised various policies that serve as true life savers when met with an unfortunate circumstance.
Why Do You Need It?
Traveling has become an integral part of our modern society. We could be traveling for reasons like a business trip or much awaited vacation. But one cannot deny the fact that there are several things that could go wrong when one travels. Disruptions like cancellation of flights, loss of baggage, medical emergency- are some of the unforeseen events that could catch you off guard. So whether you are off to your favorite destination for a holiday or going on a business trip - an adequate & complete travel insurance is a must have.
What is Motor Insurance?
Motor insurance policy is mandatory for vehicle owners as per Indian Motor Vehicles Act 1988. This Plan is designed to give coverage for losses which insured might incur in case his vehicle gets stolen or damaged. The amount of motor insurance premium is decided based on the Insured Declared Value of a car. The premium will increase, if you raise the IDV limit and vice versa.
Why do I need to insure my vehicle?
Motor insurance is mandatory for all vehicles that ply on roads-like car, trucks, etc. The prime objective of this type of insurance is to provide complete protection & coverage on physical damage or loss from man-made & natural disasters. According to Indian Motor Act 1988, an motor insurance policy is mandatory for every automobile owner in the country. Hence, purchasing an motor insurance is not just a necessity, it is mandatory by law.