Thursday, 13 July 2017

Everything you Need to Know About New India Assurance Top-up Plans

Benefits and Features of New India Assurance Top-up Plans

Top-up plans by New India Assurance are a blessing in disguise. It offers various benefits and features to the policyholders which are mentioned below.

  1. This plan covers the expense incurred by in-patient hospitalization all over India.
  2. This plan is applicable only when the total sum of the hospitalization expenses (excluding pre and post hospitalization charges) for the members of the insurance, exceeds the threshold as mentioned in the insurance plan.
  3. This plan responds for every hospitalization in case the threshold has been exhausted by previous hospitalization charges as per the sum insured stated in the insurance plan.
  4. The Sum Insured is the liability of the insurance provider for all the policy members.
  5. This plan offers safety in excessive of any health insurance policy that an Insured might have.
  6. In case there are any charge in excessive of Threshold, that is receivable from any other company, the Insured has an alternative to recover that from either that company or this plan. He can’t select both of the plans.
  7. The sum insured as per this plan will be above any reimbursement that is received from any other company if such amount exhausts the threshold.

Who can buy the Insurance Plan?
·         Any individual who fulfills the eligibility criteria mentioned below.
·         The person may or may not have any other medical Insurance plan.
·         This plan can be bought in an addition to any other medical insurance plan.

Eligibility Criteria
The plan can be purchased for an Individual or floater plan. The floater basis can cover up to 6 family members. In case the plan is issued on an Individual sum insured basis, then the separate document would be issued to every insured person.A family is inclusive of self, spouse, dependent children and dependent parents.

Entry Age
For Proposer- 18 years - 65 years of age.
For Other members - 3 months - 65 years of age.

Medical Screening
The following test would be carried for the initial medical screening.

ECG
ROUTINE URINE
BLOOD SUGAR (FASTING & PP)
CBC
SGPT
X–RAY CHEST PA VIEW
PHYSICIAN CHECK–UP
SGOT
CHOLESTEROL
TRIGLYCERIDES
EYE CHECK–UP FOR CATARACT & GLUCOMA











The tests mentioned above will be conducted and the proposer will have to bear its cost. In case the proposal is approved then, the insurer will reimburse 50 percent of these expenses.

Coverage Type
Sum Insured
Threshold
A
Rs. 5,00,000
Rs.5,00,000
B
Rs.10,00,000
Rs.5,00,000
C
Rs.15,00,000
Rs.5,00,000
D
Rs.7,00,000
Rs.8,00,000
E
Rs.12,00,000
Rs.8,00,000
F
Rs.17,00,000
Rs.8,00,000
G
Rs.22,00,000
Rs.8,00,000
Thresholds
Following are the incurred hospitalization charges that will be considered for defining the threshold under the plan.

·         The hospitalization should have taken place when the policy is active.
·         The Insured person should have been admitted as an inpatient as outpatient medical treatments aren’t considered.
·         The hospitalization must take place for any Illness or Injury.
Pre and post hospitalization expenses aren’t considered.

Friday, 7 July 2017

How to save on your car insurance with Bajaj Allianz?

Bajaj Allianz Insurance company is the best insurance policy provider in the insurance market it understands the value of the life when you are driving your car. There are several benefits and coverage that are covered under car insurance policy provided by Bajaj Allianz Insurance Company. It is known for satisfying its customers and became the well-known brand in Indian insurance market. Car insurance provides coverage against several unfortunate events that you might meet while driving a car, for example, personal accidental coverage, third party liability and damage to its own car or third party property. Let us see some of the common benefits and coverage provided under Bajaj Allianz Car Insurance below:

1.) Own Damage

Bajaj Allianz Car Insurance covers the loss or damage due to natural calamities for example damage incurred due to earthquake, lightning, flood, storm, hailstorm, landslide and man-made calamities like fire, explosion, theft, burglary and terrorist acts, rail, road, air, lift or inland waterway.

2.) Liability to Third Parties

Car insurance provided by Bajaj Allianz Company bears all the expenses arises due to an injury, death or damage to property of a third party in a car accident involving the vehicle of the policyholder. It also covers the expenses incurred due to the damage or loss to the property of the third party.

3.) Personal Accident Cover

This is one of the major requirements of customer while buying the insurance policy. Bajaj Allianz Insurance provides financial aid in case the policyholder meets and accident. It provides cashless hospitalization and sum insured to the nominee in case of death or permanent disability.

Some Other benefits offered under Bajaj Allianz Car Insurance

Cashless Facility

Bajaj Allianz allows you to experience the convenience of cashless claim settlement for your vehicle’s repair. It has tied up with more than 4000 network garages. You can also avail the benefit of 75% of expenses incurred due to repair at your preferred garage where the cashless facility is unavailable.

Accidental Coverage

This policy provides coverage to the driver of the insured vehicle in case of a personal accident. It pays the expenses incurred in treatment and also pays the sum assured to the nominee in case the driver of the vehicle dies due to the accident.

While buying a Bajaj Allianz Car Insurance plan you must consider the following coverage under the plan:

Car insurance is very useful for the protection of your car against any unfortunate event like accident, theft that can cause damage or loss to the vehicle or death or injury to the drive. It offers protection against third party liability, personal accident and damage incurred to own car. Some comprehensive plans also offer extra benefits like it covers the damage caused to co-passengers, hospitalization expenses incurred due to death or injury to the driver of the car in an accident. Let see in detail how car insurance product help protects the insured car:

 Third Party Liability

Third party liability is a type of car insurance which protects the third party in case your vehicle causes any damage or loss to the vehicle of the third party in the accident. It also covers the third party hospitalization expenses in case he meets any injury in the accident. Third party car insurance is mandatory by law in India. It covers all the expenses incurred due to hospitalization and damage to the vehicle of the third party. Car insurance company has a wide network of service providers for example towing services, garages, hospitals. These service providers help the policyholder and insured vehicle to avail the cashless facility.


Personal Accident Coverage

Comprehensive plans offer a different type of benefits and coverage under one policy. It covers the third party liability and personal accident under the single car insurance plan. Apart from third party liability, it covers the hospitalization expenses incurred due to any unfortunate event like an accident. The policyholder can avail cashless benefits at network hospital of the insurance company. They also provide reimbursement facility in case the treatment is done in any other hospital.

Wednesday, 21 June 2017

New India Assurance

New India Assurance Co Ltd, is a government multinational general insurance company. The company has a wide network spread across 22 countries.  Established in 1919 by Sir Dorabji Tata, New India Assurance is the only direct insurance company of India rated A-.

Why Choose New India Assurance

New India Assurance has more than 150 insurance products. It covers people from all sections of society ranging from large industries, small and medium companies to Rural and micro sector.

It has a wide distribution network of bancassurance partners, brokers, the government, auto majors, non-governmental organizations, corporations, etc.

New India Assurance Plans

New India Floater Mediclaim Policy

Eligibility

Entry Age: 18 years to 65 years
If a parent is covered under New India assurance plan, 3 months to 25 years for children
Lifetime renewability
Medical Screening is needed for persons above 50 years of age.

Inclusions

Inpatient hospitalization expenses: Up to a  certain limit
Newborn coverage
Room expenses
ICU expenses
Doctors, Consultants, Surgical Equipment, Diagnostic Equipment, Specialists, Blood, Oxygen, Radio/Chemotherapy, Medicines, Drugs, X-Rays, etc. charges.
Organ donor hospitalization charges
Cataract treatment expenses
Daily cash allowance
Congenital diseases 
Day care surgeries and procedures expenses
Ambulance expenses
Ayurvedic and Homeopathic treatments at government approved centers
Pre-hospitalization charges: Up to 30 days
Post-hospitalization charges: Up to 30 days

Sum Assured

Rs.2 lakhs, Rs.3 lakhs, Rs.5 lakhs or Rs. Rs.8 lakhs
Available of a family floater basis.
1% of the basic sum assured is the payout per illness

Policy Tenure

1 year.

Benefits

Cashless claim services

Mediclaim 2012 Policy

Eligibility

Entry Age: 18 years to 65 years; 
If a parent is covered under New India assurance plan, 3 months to 25 years for children
Lifetime renewable plan

Inclusions

Inpatient hospitalization charge which include room charges, ICU costs, Surgeon, Doctor, Consultants, Specialists, etc. costs.
Pre-hospitalization charges: Up to 30 days
Post-hospitalization charges: Up to 60 days

Sum Assured

Rs.1 lakh to Rs.8 lakhs
Rs.3 lakhs for people above 55 years.
Available on Individual and Family Floater basis.

Policy Tenure

1 year.
Mediclaim 2007 Policy

Eligibility

Entry Age: 18 years to 60 years; 
If a parent is covered under New India assurance plan, 3 months to 18 years for children

Inclusions

Ambulance expenses
Pre-existing conditions are covered after a 4 year waiting period.
Inpatient hospitalization charge which include room charges, ICU costs, Surgeon, Doctor, Consultants, Specialists, etc. costs.
Pre-hospitalization charges: Up to 30 days
Post-hospitalization charges: Up to 60 days
Ayurvedic and Homeopathic treatments at government approved centers

Benefits

Loyalty discounts.
Good Health discounts.
Coverage for health check expenses after 4 claim free years.

Family Floater Mediclaim Policy

Eligibility:

Entry Age: 18 years to 60 years.

Inclusions:

Day Care surgeries and procedures
Cataract surgery charges
Ambulance expenses
Pre-existing conditions are covered after a 4 year waiting period.
Inpatient hospitalization charge which include room charges, ICU costs, Surgeon, Doctor, Consultants, Specialists, etc. costs.
Pre-hospitalization charges: Up to 30 days
Post-hospitalization charges: Up to 60 days
Ayurvedic and Homeopathic treatments at government approved centers

Sum Assured

Rs.2 lakhs to Rs.5 lakhs
Available on family floater

Benefits

Loyalty discounts.
Good health discounts.

Janata Mediclaim Policy

Eligibility

Entry Age: 18 years to 60 years; 
If a parent is covered under New India assurance plan, 3 months to 18 years for children

Inclusions

Inpatient hospitalization charges which include general ard charges, ICU charges, costs of consumables, rooms, equipment, etc.
Pre and Post-hospitalization charges
Ayurvedic and Homeopathic treatments at government approved centers
Ambulance expenses
Donor hospitalization charges

Sum Assured

Rs.50,000 or R.75,000
No-claim bonus which is given upon approval.

Features and Benefits

Loyalty discounts.
Good Health discounts.
Coverage for health check expenses after 4 claim free years.


Senior Citizen Mediclaim Policy

Eligibility

Entry Age: 60 years to 80 years.
Renewability: Up to 90 years.
Medical Screening is needed for all applicants

Inclusions

Inpatient hospitalization charge which include room charges, ICU costs, Surgeon, Doctor, Consultants, Specialists, etc. costs.
Pre-hospitalization charges: Up to 30 days
Post-hospitalization charges: Up to 60 days
Ayurvedic and Homeopathic treatments at government approved centers
Ambulance costs
Donor hospitalization costs

Basic Sum Insured

Rs.1 lakh or Rs.1.5 lakhs
Co-payment: 90% of claim or sum assured, whichever is lower.

Policy Tenure

1 year.

Features and Benefits

Cashless claim services
Coverage for health check expenses after 4 claim free years.

Union Health Care Policy

Eligibility

Entry Age: 3 years to 65 years; 
If a parent is covered under New India assurance plan, 3 months to 5 years for children

Inclusions

Hospitalization charges including ICU costs, Room rent, etc.
Pre and Post-hospitalization charges 
Personal Accident Cover of Rs1 lakh

Thursday, 15 June 2017

IFFCO Tokio - A General Insurance Company

IFFCO Tokio General Insurance Company was established in the year 2000. It plays an important role in providing a safe and secure life to a wide range of customers. IFFCO-Tokio General Insurance provides a wide number of comprehensive insurance products like Motor Insurance, Health Insurance and Travel Insurance.

Features under IFFCO Tokio Motor Insurance Plan

Unique Emergency Assistance – This plan offers On Road Protection that provides you all kind of assistance during the time of an emergency.

Cashless Claims – Policyholders can avail hassle free cashless facility at more than 2000 network garages or workshops, across India.

In House Claim Settlement – The trained executive are there to help, in case of claim settlement.

Doorstep Services – this insurance company arranges a free inspection in case there is a break-in insurance policy renewal.

Easy and Quick Issuance – At IFFCO Tokio offices you can avail digitally signed policy documents within few minutes.

24X7 Customer Service – IFFCO Tokio offers 24X7 customer care service, which helps the customers to go through claim settlement procedure for their existing insurance plan. The highly trained customer service team is dedicated to help the customer, any time anywhere.

Value Auto Coverage – This feature provides additional benefits and makes the motor insurance policy all the way more beneficial for the customers.

Features Under IFFCO Tokio Travel Insurance Plan

Personal Accident - This policy provides coverage against any accidental bodily injury that might leads to permanent total disablement or death and results in loss of income. 

Hospitalization Expenses – The travel insurance plan by IFFCO Tokio General Insurance Company Covers treatment expenses up to Rs 75,000.

Hospitalization Expenses – It covers the expenses for the following: Nursing expenses at the hospital, room rent, surgeon fees, anaesthetist, and doctor consultant or specialist charges. Along with these it also covers the cost of medicines, diagnostic expenses, blood, oxygen, operation theatre, anaesthesia, etc.

Transportation Expenses– in case of death o the deceased, a clause under IFFCO Tokio Travel insurance plan covers all expenses incurred in the transportation from back to India. 

Legal Expenses – This clause covers all litigation expenses up to Rs 30,000 in case of any contingencies related to the insured’s income source.

Repatriation Expenses & Employment Contingencies – This sections covers the policyholder for the cost of one way return airfare to India due to any emergency.

Feature Under IFFCO Tokio Health Insurance

Cashless claim facilities – Under this plan you are eligible to avail cashless hospitalization beneifts.

Room Charges - 1% of total sum assured

ICU/ITU Charges - 2% of total sum assured

Pre/post hospitalisation – Health insurance plan offered by IFFCO Tokio general insurance company offers pre and post hospitalization expenses. It covers Pre-hospitalisation expenses up to 30 days and Post-hospitalisation expenses up to 30 days, including nursing expenses.

Other Expenses – Blood, Oxygen, Diagnostic tests, Anaesthesia, Operation Theatre, Pathological tests. Chemotherapy, Prosthetic limbs or devices, Dialysis and other required valuable services for treatment.

Ambulance charges – during medical emergency this plan offers ambulance expenses coverage

Cash allowance for each day of hospital stay - Donor’s hospitalisation expenses

Domiciliary hospitalisation - Up to 20% of total sum assured

Tuesday, 13 June 2017

Third-Party Car Insurance to Cost More

Car insurance provides an extra layer of security and safety to your vehicle. When you are out on the road, anything can happen to you. There would be times, it won’t be your fault but you would suffer anyway. This is why having a motor insurance plan is important for the safety of your vehicle. Apart from providing the safety shield to your vehicle, it also provides financial protection to you so that you can be tension free.

Thanks to motor insurance, your vehicle is safe as insurance provides coverage against theft, accidents, any damages due to any road mishaps, natural and man-made perils etc. In addition to that, it provides personal accident cover as well. The coverage depends on the insurance provider that you have opted for and the insurance plan that you have zeroed down. On the basis of the coverage that you go for, the insurance premium is decided.

Insurance is such a personalized need and one person’s insurance needs vary from the others. To get the needed coverage you can always opt for the additional riders and ensure that maximum security of your vehicle.

Every year, inflation affects every industry. In the insurance industry, premiums are hiked annually. The percentage of hike vary insurance provider to insurance provider.

The third-party insurance premium is likely to hike as the concerned authorities have agreed to go forward with the third-party liability cap in case there are serious injuries or fatalities during the road mishaps. For the year 2017-18, approx 50 percent hike has been proposed by The Insurance Regulatory and Development Authority for a majority of the vehicles. As per the law, it is compulsory for the automobile owners to buy a third-party car insurance plan for their vehicles. Third-party liability insurance is compulsory and comprehensive insurance coverage is optional. 

A comprehensive insurance plan provides coverage for the third-party liability as well as own damage. The third-party damage is 30 percent only.  The Insurance Regulatory and Development Authority hasn’t proposed any hike in the third-party insurance premium for few types of vehicles such as Tata Nano, Datsun Go, and Maruti Alto along with the mini trucks and pick-up vans.

The Premium Deciding Factor
The premium deciding factor is the engine cc of the automobiles. IRDA proposes to hike the insurance premium of the vehicles having 1,000 to 1,500cc engines by 50 percent approx. The sources reveal that the hike can be finalized between 25 to 30 percent. Probably, the insurance providers would go for another round of hike when the Motor Vehicle Amendments Bill is passed with the provision that insurers will make payment of the complete compensation that is finalized by the motor vehicle claims tribunal.

Stand Alone Insurance Products Might Offer Lower Premium

Amidst the reports of insurers stressing on a substantial increase in
third-party insurance premium, a debate has been stirred on the topic -why third-party insurance isn’t sold as a complete insurance product instead of being attached to a comprehensive insurance plan to the automobile owners.



Wednesday, 24 May 2017

General Insurance Solution Met By Various Insurance Providers

A small change in the environment has longer impacts on the people in that environment and those surrounding it. A thing that we never expect to happen just happens.  Are we prepared for these unexpected undesirable events?

What is General Insurance?

General Insurance is deals of insurance that are not covered under the boundary of life insurance. General Insurance is of various types like marine, fire, accidents, theft, vehicle and other diversified non-life insurance. General Insurance of property, general Insurance of travel and accidents, general Insurance for professionals, general insurance for credit, etc. are some of the products.

Why General Insurance?

Assets are purchased to suit the daily necessities of need; such Concrete assets are vulnerable to damages of different types and their economical value is necessary to be protected.  General insurance products are purchased as a protection against sun unforeseen possibilities like destruction and even loss of that asset. Similar to life insurance, General Insurance too are priced in the form of premium plans. General Insurance is normally not that of a lifetime as life insurance. General insurance period lasts only for a limited period or duration of a specific economic activity.

General Insurance is mostly annual contract products, excluding certain long term products
Types of General Insurance Solutions
There are various providers who offer General Insurance solutions that cater to different insurance requirements. Let us look at the different types of General Insurance solutions:
·         Motor Insurance Solutions
·         House Insurance Solutions
·         Travel Insurance Solutions
Motor Insurance Providers
Owning a vehicle is a must and taking care of it is also mandatory. Before digging pockets for any untoward incident it is beneficial to invest in vehicle protection under motor insurance.

Insurance Company
Features
Tata AIG General Insurance Co. Ltd.
·      Car pick up free
·      Warranty on the repairs
·      Claim settlement in just seven days
·         Exclusive add-ons
The Oriental Insurance Co. Ltd.
·      Settlement claim ratios are the highest
·      Speedy claim settlements
·         Exclusive add-ons
The New India Assurance Co. Ltd.
·      Quick claim decisions
·      Appointment of surveyor is within two days of claim intimation.
·      Claim payments are made within 3 days of receipt of the discharge voucher
·         Acknowledgement of grievance within 3 days from date of receipt and resolution within 15 days from date of receipt.
HDFC ERGO General Insurance Co. Ltd
·      Discount on Age and profession Zero documentation
·      Speedy claim settlement
·      Cashless settlement at all network garages

Home Insurance Providers

The biggest achievement in today’s world is to own a home an asset of your own, a dream come true involves hard earned money and time. Safeguarding this asset against any damage needs an investment for protection and there comes a need to look for a good Household General Insurance.

Insurance Company
Key Features
Tata AIG General Insurance Co. Ltd.
·         Easy and Instant, No Documentation
·         Flexible – lets you decide the premium that you want depending on the coverage amount you choose
·         Offers a burglary cover for loss of jewelry and domestic home appliances older than 8 years.
·          
The New India Assurance Co. Ltd.
·         Reasonably priced flexible premiums
·         Protection of the home an all its contents
·         Quick claim processing.
HDFC ERGO General Insurance Co. Ltd
·         Cover against Fire, allied perils, Burglary & Theft Optional cover for Terrorism and Additional expenses of rent for alternative accommodation Coverage limit is 5 years
·         An exceptional cover for home owners with long term coverage in mind.
·          


Travel Insurance Providers

People keep moving from one place to another and at that time a good travel insurance policy is necessary to protect a person against any untoward experience during the trip.

Insurance Company
Key Features
Bharati Axa General Insurance
·         Inclusive of Compassionate Visit
·         Schengen Visa plan
·         Cash advance in case of emergency
Reliance General Insurance Co. Ltd.
·         Cash Advance in case of emergency
·         Check in baggage loss covered
·         Bail bond covered
·         Burglary of home covered
Apollo Munich
·         Cash advance in case of any emergency
·         Checked in baggage loss
·         Cancellation of trip and curtailment covered