Wednesday, 14 February 2018

Health insurance myths and realities in India

In the midst of critical diseases in the world, we all are trying to live better. However, to give you relief, there is a particular policy that can not only cover your surgical and medical expense in adulthood but will also continue to do so even when you are fighting to keep your grey hair black. The senior citizens health insurance will be there for you if you need to be supported financially when your body fails to earn your livelihood.

It is always unknown to you when you may be exposed to adversities of life that can lead you to be admitted to hospital for days. The uncertainty and fear of the unknown can make you lose your night's sleep, and you may fall sick. Due to these reasons, a health insurance is a wise thing to invest in while you are own 20's.

What is precisely Health Insurance of Senior Citizens?

When your hair starts greying, or your body becomes fragile, you may find yourself to stand alone with no financial backup for undergoing the medical surgery you need. The senior citizen health insurance can be exceedingly useful when you hit age bar of 60 without proving yourself medically unfit. Through this policy, you can get consultations from healthcare professionals whenever the need arises and enjoy your life like before without stressing.

Myths of Health Insurance for Senior Health Insurance Debunked

As you should not judge a book by its cover or a movie by seeing casting members, you should not presume the facilities of senior citizen health insurance scheme even before getting one. Here are few misconceptions of people about the senior citizen health insurance that need to be resolved at once,

Many people often assume that senior citizen health insurance plans need to be renewed every often as you use it more often than you have used your health insurance. This is entirely wrong because you are offered the lifetime renewal with health insurance for senior citizen in India.

You might have led a healthy life with zero diseases in medical history that often made you think you would die peacefully. However, this is not the real scenario most of the time as you can be a victim of critical diseases in your old age for that senior citizen health insurance is highly needed.

Thinking of opting for the senior citizen health insurance premium only when you are in your 60s will not be a foolish thing to do. You should make proper plans for senior citizen health insurance so that you get full coverage when you are eligible to use the policy.  

While deciding on the senior citizen health insurance policy, you may think your habit of smoking and drinking alcohol will restrict you getting one. However, do not invest time on such thoughts as you are eligible to opt for senior citizen health insurance online with any habit. The main reason is that no medical test is done prior your request for the policy.

Unbelievable Benefits  

The benefits of the senior citizen health insurance are so significant, in truth, that your life expectancy will get increased a little out of your happiness. 

     Coverage for Medical Expenses - Whether your parents are admitted to a hospital for 24 hours, the entire medical expenses are covered including the bed charges and medical fees of the healthcare professionals. Apart from, including the nursing fees, senior citizen health insurance India covers the expenses on the medicines as well.

     Transportation Charges are Taken Care of - You may be wondering the senior citizen health insurance only covers the amount that took place within the hospital premise; however, the amount you needed to pay while reaching to the hospital is also included. From the ambulance charges of being admitted to the hospital, the policy is helpful on a large scale.

     Coverage of Critical Illness - Another thing you find yourself thinking that you may not get coverage for day-care costs. However, this is not true if you are undergoing critical illnesses like cancer and you need chemotherapy or dialysis, then the daycare charge will be taken care of by senior citizen health insurance.

Why Compare this Health Insurance?

As the senior citizen health insurance rates vary from policymaker to policymaker, you need to go for a compare check for getting the insurance at the lowest premium. There are many policymakers that give offer the policy at 46 years old or 60 years old. In order to get unique benefits, at the earliest possible, comparison of senior citizen health insurance is needed.

You should understand why the insurance is beneficial at the wintry stage of your life and the value of comparison of senior citizen health insurance before rushing to get one. Moreover, while comparing the policies, you will get to know that only the specific diseases are covered in the policies. So it is needless to say before getting insurance, read all the terms and conditions thoroughly.

Tuesday, 13 February 2018

How You Benefit by Offering Health Insurance to Your Employees

The performance of a company or business depends on how efficiently it utilizes its resources. The primary focus is always on minimizing the expenditure and maximizing the output. Employers spend considerable time and attention trying to reduce their current functional costs and preventing future expenses. Makes you wonder why even small companies with less than 50 employees have started offering health insurance to their employees, doesn’t it. Why offer the employees a health insurance policy when you’re not even legally required to, shouldn’t you be looking to avoid the extra spending instead? The answer’s pretty straightforward--Because it benefits you as well, perhaps way more than it benefits your employees! Here’s how:

Providing health coverage to employees sends a significant, positive message
You care – that’s what you’re essentially telling your employees when you offer them these additional benefits. You have no obligation to your employees’ personal health, and yet, here you are, taking a significant step to aid the same! Your action tells the employees that they belong and is one of the simplest ways of improving job satisfaction. It also helps boost their morale and increases their faith in your organization. And it’s not even hard, not at all! With so many great health insurance policies on the market, finding one that’s affordable and suits your company’s profile is pretty straightforward.

It helps increase productivity and profit
Providing these additional benefits is healthy for your business too, with recent studies confirming that it helps improve the employees’ overall productivity. Happier employees are synonymous with better output. And with a health insurance policy there to take their mind off health concerns and related expenditure, all employees dealing with health issues can readily seek remedies instead of continuing to work at below par capacity. A lot of health insurance policies provide the facility of preventive care. 

The regular medical checkups not only keep individual employees in good spirits but can also prevent the spread of communicable diseases and infections that, in worse case scenarios, can bring your business to a standstill. In all, by this one single move, you’re working towards improving your workers' performance levels, directly increasing your company’s productivity, as also the profit it makes!

It helps beat the competition and attract the best employees
These are competitive times, both for job seekers as well as for employers! You want the best new hires to want to work for you; you have to work to attract them. And job seekers no longer just look at the salary offered, but seek an excellent overall package complete with added benefits. With the cost of quality medical treatment rising exponentially over the last few years, you’re raising your company’s appeal several notches by including the benefit of an employee health insurance policy in your offer.

It helps retain the good workers in your organization
An employee working for you today isn’t necessarily an employee that will still be working for you by the end of the year, or even by the end of the current month! Good employees can always find better jobs. If your employees aren’t being covered by a health insurance policy right now, a company that does offer the same is apparently a more promising option for your employees. One of your primary tasks, as an employer is to make sure your workers don’t start to feel that the facilities you offer are insufficient. With more and more business units choosing to buy health insurance policies for their employees, it’s essential you follow suit to avoid losing out your best talent to the competition.

Acting now will prevent possible complications in the future
The current government regulations require all employers with 50 or more full-time employees on their active roster to provide them with a minimum level health insurance policy. It’s very likely that future amendments render providing these benefits a must, even for small businesses. It’s only smart to act now, with time by your side and so many fantastic employee health insurance plans to pick from than face hassles later on.

It can give you useful Tax benefits
That’s right; you can actually avail specific tax benefits in the act of covering for your employees’ well being! When your company is providing this cover, you can deduct the full value of the cost of their health insurance policy as a business expense. If you are a small business with less than 25 full-time workers, you have the opportunity to buy a small group health insurance policy and avail a tax credit.

When you’re choosing to provide health coverage to your employees, you’re offering them a very real, very practical benefit, the importance or appreciation of which won’t be lost to them. Regarding business, it’s a smart, strategic move that sets your employees, as well as your company up for a satisfyingly productive future.

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Tuesday, 6 February 2018

Shriram General Insurance Features

Having insurance is a common thing these days. Before buying one just compares all the policies for better coverage. After selection one purchase Shriram General Insurance to protect every asset one possesses.

 If one has assets, then one would need protection for those from damages. Any damage to asset means it will take a toll on the financial part of a person. This is why one purchases General Insurance for appropriate protection.

There are various features of Shriram general insurance. One requires keeping those in their head before buying anything. Once this is sorted purchasing the appropriate insurance is not a problem at all. 

Various Protection Provided By Shriram General Insurance

The amount of coverage provided by Shriram General Insurance is enormous.  This is why people have the tendency to go for such excellent coverage plans. The coverage for different things is a need which every person needing insurance has in this world.

The various types of general insurance provided by plans of Shriram general insurance. So one must choose carefully to protect all of their investment.

Types of Shriram General Insurance

The types of policies provided by Shriram General Insurance is discussed below. This will help you in selecting all the correct insurance. These insurances are a lifesaver which allows one in when they need financial support most.

So in here, we will talk about motor insurance, house insurance, accidental insurance, etc. These three are the leading insurance which is provided by firms.

Motor or Vehicle Insurance

According to the government, this insurance is must for people who own a vehicle. Shriram General Insurance protects the owner from all damages related to cars. It provides coverage against:

     Car damage due to an accident
     Protection against any liability
     Protects car from disasters be it man-made or natural

There are different types of motor insurance for different types of vehicles. Separate policies are there for an individual for four wheeler cars, two-wheeled vehicles, and commercial vehicles. One can choose Shriram general insurance plan according to the type of vehicle.

Insurance Policies For Houses

Houses always have significant worth. This is why one should always get Shriram General Insurance for their home. It is the best way to keep that asset protected at times of distress.
Since it is an individual's ultimate treasured possession, it should have protection. Proper coverage can be given by having Shriram insurance schemes. So go through various protection plans to have the best one.

House insurance covers accidental damage to a house. It is protected against several disasters like flood, storm, burglary, earthquake, etc. It includes the house as well as the items inside the home.

Accidental Insurance For Individual And Group

In many ways, there is no certainty of life. So one tries to protect the future by having Shriram General Insurance. In times of uncertainty, insurance is what will go beyond your expectation to help you.

Accidents do take place anywhere and everywhere. House, roads, parks, etc. wherever accidents can happen. To protect one from such misfortunes, one needs Shriram insurance general policy.

There are four types of policies which one can have:

     Individual Plan
     Family or Group Floater Plan
     Surgery Cover
     Comprehensive Health Plan

One can choose whichever seems most appropriate to him. There are also other insurances which cover the rest of the assets. Those are also discussed in short.

Protection Against Fire Policy

Fire is a destructive element which can wreak havoc on people's  lives. This is why security against it is essential. Shriram General Insurance also has various opportunities which one can grab by purchasing a policy. Some policies are:

     Standard Fire Plans
     All Risk Industrial Policy
     Profit Loss for Fire Plan

To have complete protection from fire choose insurance from Shriram after careful comparison. 

Construction Insurance For Financial Safety

Construction sites are dangerous places. That is why Shriram General Insurance brings various policies for such purposes. It helps in covering the financial loss if any misfortunate events take place.

Certain Policies are:

     All Risk Contractors Insurance Plan
     All Risk Erection Insurance Plan
     Insurance for Electronic Equipment
     Coverage for Machinery breakdown
     Machinery and Plant Insurance

Along with these, cargo insurance plan is also provided for people looking for marine protection. So pick wisely when looking for schemes from Shriram policies.

Best Liability Plans 

Liability might occur any moment. So one should cover it beforehand by having Shriram General Insurance. Some of the plans under it are:

     Professional Indemnity
     General Commercial Liability
     Product Liability
     Act of Public Liability
     Workman Compensation Policy

There is a number of schemes available. An individual needs to go through various Shriram plans of general policy.


So compare before purchasing any schemes. Once sure about a plan then pay for Shriram General Insurance. 

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Wednesday, 31 January 2018

What Are The Best Critical Illness Insurance Plans In India?

Billions of people live in India who suffer from some illness. Most have health insurance which covers their need. Critical illness is something for which one should get best vital illness insurance.

Critical illness policy and health insurance policy is not the same thing. This is something which confuses many people. It is something which is where one should be clear about what these are in detail.

One should have a policy for critical illness. It may occur any time which is fatal in nature. One should have this policy even if one has a health insurance.

Critical Illness May Occur Any Moment

To understand the insurance for critical illness, one needs to know about dangerous illness first. Critical illness is life-changing for a person. It is a health condition which affects one's lifestyle.

This type of sickness requires one to spend a great deal of money for treatment. It also may make a person lose their job. Such illness creates a disturbance in the peaceful life of a person.

To have financial protection if such thing appears, the best critical illness insurance is a must buy.  Having it is a way to be safe in life.

Basically, it covers life-threatening illness like permanent paralysis, tumor, etc. One should compare and get the plan for a critical illness which includes the maximum ground. 

Benefits Of Having Critical Sickness Insurance

You will not know when a critical disease may attack you. So to prevent from getting financially depleted one should have best vital illness insurance. There are a lot of benefits which at that time one would require.

A person might suffer from a critical condition anytime. The scheme for critical illness will help the insurer to get a lump sum amount. This is the best part of this insurance.

When going through such events, a lump sum amount is always helpful. This way one gets to spend the money in the way they see fit. This is why this insurance is vital.

Policy For Critical Insurance Covers A Few Illness

The best critical illness insurance will cover some of the medical issues. One should go through the plans in order to know the illness it will include. Some problems which are 

covered under this are:

     Particular Cancer of severe nature
     First severe heart attack
     Limbs permanently paralyzed
     Bone marrow or major organ transplant
     Replacement of heart or repairing heart valves
     Regular dialysis needed for kidney failure
     Liver or lung disease last stage
     Strokes which develops permanent symptoms

Only a few are mentioned here. There are some more which are covered under best critical sickness plans. Many plans include 4 to 5 time the yearly income.

General Waiting Period of 90 Days

There is always a waiting period before the best critical illness insurance kicks in. Most companies have 90 days waiting period. So any significant illness occurring in the waiting period is not covered. 

This is why one should get excellent critical sickness insurance long before anything happens. Once the coverage activates, one can have financial support if something happens. A good policy will cover the maximum grounds after the waiting period. 

Vital Benefits Of Critical Illness Insurance

One of the most critical benefits is that if one has such insurance, it helps him financially. Since a lump sum amount is given, it will cover medical bills and other expenses. The best critical illness insurance provides everything if one is diagnosed with it.
The amount which is given to insurer also includes the caring cost. In such scenarios, cost care is high. This is why the coverage amount consists of that too.

Free Check Up And Tax Benefits

Having an ultimate policy for critical insurance will provide you with free checkups. Health checkups are essential to prevent such severe condition. 
Having this policy also benefit a person in taxation. Under the 80D section, one receives tax benefits.

Having The Best Critical Condition Policy

To have the best critical illness insurance policy, you need to compare and choose the right one. The correct one will have:

     A prominent coverage, almost 4 to 5 times the yearly income
     The waiting period for the policy to activate and premium should be low
     The number of disease or illness covered should be high
     Age of renewability should be as high as possible

The best policy for critical conditions will have all the things mentioned. This is the most suitable plan for all.

There are many reasons as to why one should get such a plan. With a fast-paced life, one doesn't know when the need for best critical condition plan would arise.

Thus one should not get a plan blindly. One should purchase it only after going through and comparing different plans. It will help you have the best critical illness insurance.  

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Perks of One Buying Health Insurance Plans If GOP's Plan Pass

Health care is a perk which every one employee in the world wants. It is mandatory for most corporate places to offer healthcare to their employees. Various health insurance plans are provided to the employees by the employers. 
A number of companies have started to eliminate health care plans already. The number keeps going down. But in recent times due to GOP's plan, this benefit can come to an end.

Employer-Sponsored Health Insurance Plans

Health insurance policies which are paid by business organizations for their employees. It is a part of the benefits package for all employees. Most policies in the United States which are non-government based on the employment.

Most large employers in the USA offer their employees, group insurance. A significant contribution is made to cover the cost of insurance. A considerable portion is paid by the company around 85%, and the remaining rest fraction is paid by employees.
Providing health benefits to the employees is an excellent way to attract good employees. Other than that it favors the employers when it comes to paying taxes. But such plans cost a lot as life insurance coverage rises every year.

Since there is a chance of GOP’s plan might pass, one should look out for themselves. It might not be bad if employers provide stipend free of tax. This can be used to buy health benefits.

Buying Health Benefit On Your Own

There are several benefits of purchasing one's healthcare. An individual can choose to buy a health care which suits them best and their family. One would exactly know all the advantages of having the healthcare.

There are various advantages of this which are laid below in detail. It will help one understand the importance of having policies for health benefits. It also discusses why getting one on your own is not such a bad idea.

Medical Cost Rising Every Year

Each year the medical cost keeps increasing. So having proper insurance for health is a must. When a person needs it provides the financial security when chosen a correct policy.
So if one can choose their health benefit on their own, it would be best. It would allow one to select the company which would fill all their requirement. Buying health insurance in a group which employers do might not be best.

One can buy insurance with particular specifications which their family members need. Unnecessary conditions can be omitted. A perfect health insurance scheme can be chosen for getting maximum benefits. 

Medical History in Family Matters

Family medical history has to be kept in mind when opting for a healthcare plan. One can decide on the policy by keeping this in mind. This benefit is not available when it comes to group plans provided by employers.

Many individual’s family members suffer from serious illness. A lot is spent on such a family member’s medical bills. To avoid any financial problem when paying bills getting an appropriate policy is advisable.

Health insurance will cover such things and provide a peace of mind. Without having to worry about payments, one can work better.

Get Tax Benefits and Protect Finances

Finances can be protected if a person has health care. Any moment the need for medical assistance can rise. In times like this having healthcare insurance will protect one from the loss of finances.

It not only will protect the finances but also provide tax benefits to people. Pre-defined tax benefits can be enjoyed by an insured person.  Such tax benefits are available to employers who offer group health plans but not all employees.

So getting the chance of buying a policy because of GOP’s plan might not be wrong. These benefits sound like a right way to go.

Selecting Healthcare Plans From a Suitable Company

Various companies in the market offer health care plans. When the choice is given for choosing one, one will want the best for themselves. This is not possible when your employer decides the group health care from one company.

This will give one the freedom which the employees don’t possess now. And when this freedom is provided a reasonable outcome should be the result.

More Options Will Rise For People

If the GOP’s plan is successful then in the health insurance market new policies will be added. Addendums will be added to existing policies to attract more customers. A number of benefits will rise.

Premiums for health insurance will be affordable by all. Customization of premiums may be available which would make payments more manageable. These are some benefits which are imagined at this stage. 

Things discussed above are a speculation of things which should happen if GOP's plan succeed. One should know what will change due to these policies by GOP. To know about the health insurance plan one have to wait to see which side the pointer goes.



Wednesday, 24 January 2018

How third Party Liability Car Insurance works

We live in busy times, with commuters pressed for time continually struggling to gain pace on increasingly jam-packed roads. It’s that all too familiar recipe for disaster we’ve all caught a whiff off at some point and that we hope we never have to taste. But let’s be real, road accidents have become as familiar an occurrence as traffic jams, and so it’s best to be prepared for the worst-case scenario. That’s where Third Party Liability Car Insurance comes in. Also referred to as ‘act only cover’ and ‘motor third party insurance,’ third party insurance is a risk cover enacted as a mandate by the Motor Vehicle Act of India. Just having third party insurance, however, is little use unless you’re aware of all it encompasses and serves you with. Here is all you should know about third-party liability car insurance…

What Third Party Liability insurance for cars actually means

As the name suggests, a third party insurance policy provides cover to the insured person against claims of losses made by a third party that the insured person’s car has been in an accident with. This type of insurance, depending upon the clauses involved, may or may not cover for both bodily harm and loss of property. Note that the insured person is responsible for losses incurred by him and gets no cover for the same from the insurance company, irrespective of how they came to be.

How Third Party Liability insurance for cars works

Think of two cars that have the misfortune of being involved in an accident wherein the driver/passenger in car B suffers physical injury or damage to property and decides to press charges against the driver/owner of car A. In this scenario, the third party liability car insurance held by the driver/owner of car A would secure him/her against the legal responsibility for the accident. So, all that the insured is effectively required to do is to claim his insurance. Once the application for claiming compensation for the damages incurred has been made, an FIR needs to be filed with the designated police station, providing all documents the process requires. A case is then registered with the Motor Accidents Claims Tribunal. Insurance Regulatory and Development Authority of India (IRDA) decides on the amount to be compensated. Once the court delivers its verdict, the insurance company will repay that full sum to the victim.

How to claim your Third Party Liability car insurance

       Every insurance company will tell you to reach out to them at the earliest possible hour and inform their representatives about the accident that you’ve been involved in. You can call up the company’s customer care as soon as you are able to and make them aware of the incident and its particulars.
       Once the FIR has been lodged by the third party and their demand for compensation has been documented, the insurance company gets notified of the same. On receiving a court summons, the officials from the insurance company will usually get in touch with you to share the details of the claim settlement.
       At this point, the insurance company will likely ask you to provide them with the claim form along with other documents that they require to process the claim further.
       Most insurance companies now offer their customers the facility to register their claims online. All you have to do is go to the company’s website and enter details like name and policy number to raise a claim.

Things to consider when buying Third Party car insurance

Go through the policy details and make sure you have a clear understanding of what the policy will cover. Your policy should include the following:
       Damage caused to the third party’s property.
       The bodily harm suffered by the third party.
       The accidental death of the third party.
       Permanent disability or death of the driver/owner of the insured car.

Third Party Liability Insurance or Comprehensive Car Insurance?

Comprehensive car insurance, compared to third party liability insurance, provides widely extensive coverage, including accidental cover for the insured, damage caused by human acts like vandalism and theft, as well as natural calamities like floods, storms, and earthquakes. But since third party car insurance is a mandate, a lot of car owners remain oblivious to additional benefits they can claim with the broader coverage of a comprehensive insurance plan. The premium for comprehensive car insurance is considerably higher than that in case of third party insurance and should be one of the significant points of consideration when buying or renewing car insurance. The commercial value of your vehicle should be the deciding factor here. If you drive an aged, low-value vehicle, sticking with third-party liability insurance is a good move. Those with new, high-value expensive cars, on the other hand, will be better placed opting for a comprehensive car insurance plan.

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