Tips to Cut down your Premiums on Health Insurance Plans by Players, like National Insurance

As far as your savior after a medical emergency followed by financial crisis is concerned, it can be none other than your health insurance plan. Here are some easy tips given below that would help you cut down the rate of your premiums up to a certain extent. Let’s check them out!

Buy your health insurance from a bank

There are a number of public sector banking organizations that have co-branded with health insurance products available with general insurance providers, mainly belonging to the public sector. These plans are there to offer amazing benefits at affordable rates. So, one can call them customer-centric plans.

For example – a mediclaim policy with a sum insured of Rs. 5 Lakhs purchased for a family from a insurance provider like, National Insurance, demands an annual expenditure of Rs 17,972/-. On comparing the same policy taken from a bank that has a joint association with insurance provider mentioned above, you will find that the yearly expense’s figure to stands at Rs. 7,079/. So, you are smart enough to understand how you would be able to save on your premiums.

These health insurance policies are the best options for the elderly people. However, there is a shortcoming with the same. It’s the restricted age of renew ability, that’s not more than 80 years.

Go for smaller coverage and add top-up plans

There are some people, especially those who are capable of investing a huge amount of insurance policies, go for the highest cover possible. However, such policies can charge you a fortune, as far as premium payouts are concerned. One of the best things you can do for saving a considerable amount of money on your premium is – buying a basic protection plan and add a top-up plan to it.

For example – you have purchased a basic indemnity policy from a good insurance provider, like National Insurance. The value of sum insured for the same is Rs. 5 Lakhs. Thereafter, you have added a super top-up of 5 Lakhs to it. So, your total coverage happens to be 10 Lakhs. While calculating the premiums you will find that you are saving more with your plan (basic + top-up) in comparison to a plan with huge sum insured. Isn’t it worthwhile?

Buy separate plans for your parents

If you add your parents to the family floater health insurance policy you intend to buy, you might not be doing the right thing. So, buy them a separate policy.

For example – a family floater plan with sum insured of Rs. 5 Lakhs costs about Rs. 13,000 per year. In case, you add your parents (senior citizens) to the same, the cost of the premium might go up to Rs, 45, 000 per year. You can clearly see the difference of Rs. 32, 000/-. If you buy your parents a separate health insurance plan from a company, like National Insurance, you would not only be able to cut down the premiums, but your parents would also be able to enjoy comprehensive health cover.

These are two of the best ways to save your hard earned money, when it comes to paying off your yearly premiums. If you want to know more about the same, you can visit the websites of the insurance broking companies. They not only allow you compare different policies and get instant quotes, but also provide you with useful suggestions.

Car insurance renewal – You cannot escape but you can certainly save!

Car insurance renewal – You cannot escape but you can certainly save!

Best Health Insurance in India

For customers getting a good health insurance plan is a beneficial move for managing health expenses and living anxiety open life. Now, the delineation of Best Health Insurance in country depends on the requirements of its customers and category of people’s culture and living style. In developing country like India health insurance sector made a tremendous growth in last few decades. There are various health care insurance policies available that deliver customer with best outcomes.  There are various brands like HDFC, IFFCO Tokio, Max Bupa, Apollo Munich, Bajaj Allianz and many more that provide Best Health Insurance in India. 

Being a customer have you ever though that, what makes a Insurance policy best for you? Well answer to this is your criteria of benefit like for example a Family Floater health plan will never be beneficial for a single unmarried customer. Therefore, the Best Health Insurance in India is designed according to the criteria of its customers. Below provided is the list of Best Health Insurance plans in country along with their specific benefits.

  

Customer criteria	Best Health Plan	Best Benefits
Best Individual Health Insurance Policy in India	Apollo Munich Easy Health premium	Cashless benefit at 800 cities over 4500 hospitals in India Lifetime renewal Quickest claim settlement Premium version is the best insurance plan Unique customer support services
	Star Criticare Plus	Strictly individual policy Protection against various critical diseases and injury Pre-medical check up cover Professionalized services
Best Family Floater Health policy in India	Bajaj Allianz Health Guard Family Floater Plan	Strong protection Cashless benefit Complete family protector
	Max Bupa Heartbeat family First Policy	Coverage for 14 relationships with insured individual Best suited joint family floater plan The cumulative bonus can be utilized by any member of floater policy Complete hospitalization coverage for every member of family
Best Senior Citizen Health Insurance policy	Senior Citizen Red Carpet Policy	Coverage for pre-existing diseases Complete hospitalization coverage
	New India Senior Citizen Mediclaim Policy	Most trusted health care plan in India Guaranteed renewal benefit Complete hospitalization coverage
Best Corporate Health Insurance Plans	ICICI Lombard Group Health Insurance	Coverage for employees and their family Flexible coverage according to requirement
	Tata ALG Group Personal Accident & Group MultiGuard personal Accident	24X7, all year death coverage
	HDFC ERGO Group Medical Insurance	Low premium cost Customization option

The above described were certain best Health insurance plans in India that perfectly suits the requirements of people in country.  

The health care insurance sector in India has provided a unique seriousness and essentiality to resolve the health care issues of people. With this knowledge and requirement of health care customers are now able to provide best treatment services with no financial crisis to themselves and their family. These best health insurance in India cover almost all the basis requirements of its customers and fulfill the required criteria to a great level of extent providing with effective benefits. These health plans promise to provide a complete present and future protection to individuals as well as their families for coming years in country with a balanced peace of mind.  

In any case, compare Car Insurance before buying one

Have you purchased a car lately? If yes, then probably you would have bought a car insurance policy for sure. Isn’t it? So, from where did you buy that? Perhaps, from an insurance agent who claimed to have a tie-up with an insurance company? Chances are there that he or she might have given you the policy on the basis of the on-road price of your car. Is it right? And from the next year of your policy commencement, you were asked to pay the just the premiums for policy renewal. If this is what that happened in your case, then you are advised to go through this post. Always Compare Car Insurance before buying!

What is a car insurance plan?

Well, most of the car owners or even who don’t own a car know what is a car insurance policy. A plan that protects you financially in an event of accident is known as car insurance. Under such policies, your insurance provider is liable to pay for the damages as well as repairs of your car. In case, your policy includes third-party insurance, then the extent of coverage increases accordingly. Moreover, the premium of your car insurance depends upon a number of factors. The pointers given below would help you know the ways for keeping your premiums down, as much as possible. Take a look:

Go by the rule - According to the rules and regulations of the Indian Motor Vehicle Act, there are some requirements you need to fulfill, in terms of car insurance.  There is a limited liability part that should be purchased by all car owners. So, you can restrict your policy to the same. You can always opt for more coverage, but in that case you have to pay more on your premiums.

Drive safely, as much as you can – This is one of the best ideas in any case. The more cautiously you drive, the lesser chances of accidents (minor to major), the lesser insurance claims would be made. The best part – you become eligible for no claim bonus (NCB). This would reduce the rate of your annual premiums by about 10% to 20%. However, the NCB amount might differ from one service provider to the other. Therefore, do Compare Car Insurance beforehand.

Refrain from buying unnecessary riders – Your insurance agent is more likely to persuade you to get additional riders on your car insurance. However, it would be better not to go for those, until and unless it’s extremely important. The more the riders you buy, the more the rate of premiums you pay. On top of that – most of the riders would seem to be pointless after certain period of time.

Mount an anti-theft device – This might be a new piece of information for you, but most of the insurance companies offer certain amount of discounts if the policyholders install an anti-theft device gadget in their cars. So, make sure to get one. These devices are not very costly and easily available. However, make sure to buy a product that is approved by the Automobile Research Association of India (ARAI). Top of all don’t forget to Compare Car Insurance before shelling out.

New India Assurance – A Breakthrough in the World of Financial Planning

Life and uncertainty are like best friends forever. Sometime even the pre- planned things also go out of control. So, you can picture the eventualities when things are not planned. Having high hopes from life is pretty commendable. Actually, it’s good being positive. However, what about practicality? You cannot avoid things like health issues, accidents and the most unfortunate one, death. If you are fine now, it’s a good thing, indeed, but you are never sure about what the future has in its store for you. Are you? Therefore, it’s better to be well prepared to fight any unforeseen situation, if not avoid.

When it comes to fighting and maintaining stability against the ups and downs of life, the first thing that comes to the mind is, getting a proper insurance coverage, like New India assurance. That’s because, an adequate insurance coverage not only helps you in alleviating risks, but also in managing your finances at the time of distress. Now the question is – how to find out the best insurance plan that offers comprehensive coverage? Well, in order to find out the same, you need do some homework. Let’s get started:

• First of all, you need to evaluate your requirements. Different policies offer different benefits and cover different aspects. So, you have to decide what benefits you want to have and what features you want under the coverage. Understanding the extent of coverage helps a lot in choosing an apt plan. There are some insurance policies that cover both, life and health. If you wish a single plan to cover both, you can always go for the same.
• Secondly, you have to decide the amount you want to insure. There are plenty of policies available with the insurance companies, like New India assurance that come with different ranges of sum insured. You should select the sum insured according to your financial needs and premium payment potential. That’s because, if you aren’t able to pay off the premiums on time, then your policy will terminate after a certain period of time, called the grace period.
• Thirdly, you need to recognize those aspects that (if not covered by the insurance policy you intent to buy) won’t trouble you. Dear reader, every health insurance plan with a company like New India assurance, be it health, life or automobile has certain exclusions and limitations. Don’t forget to check them out. If you don’t check them before hand, you might be in great trouble at the time of policy execution.

These are some of the most important things that you need to consider when buying an insurance plan. Always remember to go with a reputable and well established insurance provider, like New India Assurance. They are known for their customer-oriented policies and services. By comparing the companies and their products, you would be able to find the best.

A brief study on different types of car insurance policies in India

Car insurance in India is also popularly known as motor, vehicle or auto insurance. These insurance policies encompass all types of cars and assist car-owners financially in case of a road mishap. The terms and conditions of vehicle insurance differs from one plan to another. According to some policies only the vehicle is insured and some other plans have both the motor and the owner insured. Increasing number of road mishaps have triggered the necessity of car insurance in India even more in recent times.

Car insurance in India is an obligation

It is mandatory for every vehicle on road in India to have a valid insurance. It is applicable for both brand new and used vehicles. Owners of used cars need to ensure that the policy is shifted to their names from previous owners within 14 days of purchase. Any delay would result in the incapability of making claims in the event of an accident because the new owner would not be considered as the policy holder. Owners of new cars can opt for an insurance binder if they want to start driving the car immediately after purchasing. This insurance binder is considered as the car insurance policy and it comes into effect instantly. If owners cannot avail an insurance binder they are better to wait until they have their vehicles insured rather than starting to drive without any insurance cover.

Kinds of car insurance available in India

Two types of motor insurance is predominantly available in India. Car owners can choose between plans like comprehensive cover and Third Party Liability cover as per their requirements. Many people in India that newly owns a car make the wrong choice of insurance cover. This is primarily because they are not well aware of their needs so they cannot make the right choice accordingly. Another reason of making a wrong decision is they don't know about the features of both these types of car insurance plan.

Comprehensive cover

Under a comprehensive cover, both the vehicle and the owner is insured. The coverage of a comprehensive car insurance policy includes damages of motors and accessories because of man-made losses like theft, violence, natural disasters such as earthquake, fire or storm or any type of explosion. The cover limit and premium amount of comprehensive plans vary according to the policies offered by various insurers.

Third Party Liability Cover

This type of insurance policy shields car owners from legal liabilities arising out of an accident. The plan covers third party injury, property damage and death of third party and offer protection when third party comes up with claims for above-mentioned losses. However, this type of car insurance policy further offers protection for the damages of vehicle. This insurance plan is mandatory in India.

Car insurance in India is gaining significance with each passing year. Although it doesn't cover vehicle's mechanical or electrical issues, it serves a lot of useful purposes. This is why a majority of people in India are opting for insurance as quick as they purchase a vehicle.

7 mistakes that lead to rejection of car insurance claims

You did everything right. You bought the car of your choice and got it insured without wasting any time. Along with the mandatory third party liability cover you also availed a comprehensive plan. You chose to pay high premiums for comprehensive covers considering the fact that in case of any mishap your insurer will pay out all the expenses once you make the claim. But, much to your disappointment, your insurer turned down the claims you made after getting involved in an accident. You have been paying premiums without any break but it resulted into pouring money down the drain as you faced outright rejection to your claims. Let's analyze the reasons why your claims were rejected.

Misconceptions about comprehensive car covers

Most people are under the misconception that comprehensive motor policies cover all types of losses and damages which is far from being the truth. A comprehensive plan only covers only the following;

• Third party liability
• Accidents
• Collisions
• Theft
• Damages of vehicle due to natural disasters

Breakdown and wear and tear can also bring about damages to vehicles and if such an incident happens no car insurance plans in India will provide coverage. There are some other reasons as well that can turn down one's insurance claims.

If you repair your car on your own and inform your insurer later

Almost all car-owners commit this fatal mistake. They renovate their cars after a mishap and intimate their insurers afterwards. Insurance providers, having failed to trace the mishap and repair reject the claim request. Therefore, one should always inform the insurer as soon as possible after the accident. A representative on behalf of the insurer will inspect the site of accident, measure the nature and cost of mishap and estimate the claim amount accordingly.

Installation of a LPG or CNG kit and not having it covered in the plan

Many people face rejection of claims simply because they did not cover the LPG or CNG kit installed in their vehicles. Even if the damage is not related to that kit, insurers will turn the claim down if the kit is not covered in the plan.

If you forget to transfer the policy in your name in case of buying an used car

The name of the car-owner is registered in the policy copy not the name or model of the car. Therefore, if you buy a second-hand car you have to shift the name of the car-owner in the policy copy within the stipulated time period. Your claims will not be settled if you don't transfer the cover in your name in time.

If the driver of the car lacks authentic driving license at the time of accident

If you have driven your car at the time of accident without a valid license your claims will be dismissed. On top of that, if you were under the influence of drug or alcohol at the time of accident your claims will not be settled.

If your vehicle is used for commercial purpose

If it is found out that you used your vehicle for commercial reasons in spite of being registered as a private vehicle at the time of mishap your insurer can rightfully refuse the claim.

If the car is not parked in parking zone and loaded with more passengers than capacity

If you violate traffic rules by parking your car in no parking zone and load your car with more passengers than capacity your claim request will not be granted

If you fail to notify your insurer in time after the mishap

Your insurance claims will be refused if you don't intimate your car insurance provider within the stipulated time.

Now that you know the reasons behind claim rejection, hopefully you will not make any of these mistakes next time and get the claim that you deserve.