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

Friday, 28 April 2017

Cigna International Health Insurance Plans

Cigna Health Insurance plans are designed to meet needs of you and your family with comprehensive core covers along with the flexibility of additional modules so as to help customers benefit immensely from the plans. The company offers support for well being of customers with a varied range of international products. One thumb up to Cigna Health Insurance as the company gives you the scope to build your own plan by following a few procedures. 

Step 1: Start by determining your core plan- Silver, Gold and Platinum 

Step 2: Boost your plan protection with the various optional modules such as International Outpatient, International Health and Wellbeing, International Dental and Vision and International Medical Evacuation. 

Step 3: Talk to an expert who can guide you through the step-by-step processes to choose the best policy online. 



What are the different Cigna Health Insurance plans available?

Core cover- The Core Cover three types of essential that include Silver, Gold and Platinum. These policies are aimed towards covering for inpatient, accommodation costs and day case surgery. Plus, there are essential coverage provided for mental health care and cancer. On the other hand, Gold and Platinum plans offer coverage for inpatient and daypatient maternity care. 

International Outpatient cover- This offers coverage for medical emergency and outpatient care that may erupt in situations when any hospital admission as inpatient or daypatient is not necessary. In addition to these, the cover also includes prescribed outpatient dressings and drugs, medical and specialist practitioners, pre-natal outpatient care and post-natal outpatient care, chiropractic, osteopathy, physiotherapy, etc. 

International Medical Insurance- This type of insurance provides essential coverage for day patient, inpatient and accommodation costs along with coverage for mental health care, cancer, etc. The Platinum and Gold plans under the policy extend coverage for daypatient and inpatient maternity care. 

International Vision and Dental- This health insurance policy helps to reimburse for the beneficiary’s eye examination and reimburse for the costs of lenses and spectacles. The policy offers coverage for routine, preventive, and other mental treatments. 

International Health and Wellbeing- This type of health insurance policy provides coverage for examinations, tests, screening and counselling and also supports a great range of life crisis. Under the policy, customers are offered specially tailored support and advice through health risk assessment, online health education, etc. 

International Medical Evacuation- Under the health insurance policy, it provides coverage for the transportation costs that is incurred for taking a trip to the nearest medical centre in case the treatment required at the time is not available within your locality. The policy includes repatriation coverage, enabling the beneficiary to their country of nationality or habitual residence so as to be treated in a familiar location. The health insurance policy includes compassionate visits for partner, parents, siblings, child visit post any accident or any kind of sudden illness. Also, the beneficiary is entitled to receive the coverage if he has not been repatriated or evacuated. 


Go through the Cigna International Health Insurance plans and then buy the one that meet your demands.

Friday, 21 April 2017

Bajaj Allianz Car Insurance Renewal Process

Car insurance has become a necessity due to the great number of road accidents that take place on the streets of India. It has been made compulsory in many states. A car owner is expected to have insurance for his vehicle. Bajaj Allianz is one of the leading insurance companies of India.

Why Bajaj Allianz Car Insurance Renewal?

Bajaj Allianz carinsurance renewal is available not only for private cars but also for commercial vehicles. A car insurance document is the most essential of vehicles as it protects the policyholder against financial loss and legal issues. There are a variety of plans that are offered by Bajaj Allianz that take care protect a person against physical injury, bodily death/injury and cover against third-party liability. This brings security and peace to the policyholder.



In addition to providing a number of different plans, the claims process provided by the insurance company is also very fast.

Key Benefits of Bajaj Allianz Car Insurance Renewal

The company has made it’s mark in the insurance providing industry as it gives it’s customers a little extra benefit than other insurance companies. Some of the benefits advantages that they give are:-

l  The company has a specialty in serving claims as fast as possible.
l  The plan covers both third party liability as well as own damage liability under the same plan, a number of other options are also available from customers.
l  Cashless claims settlements are done across fifteen hundred workshops. If the cashless claim is not an option then the company recompenses seventy five percent on account of payment.
l  The insurance plans can be bought both online as well as from a the company itself.
l  The company provides 24*7 emergency assistance for all it’s customers.
l  No claim bonus given up to 50%.
l  Private as well as commercial cars are insured under this policy.
l  Towing facilities available.
l  New as well as old customers can avail lock and key replacement cover.
l  Add-on covers comprises of conveyance benefit, accident shield, and consumable expenses adding increased protection to the customer.

Features
Coverage and benefits
Third Party Coverage:
Up to 7.5 L
Incurred claim ratio:
71.61%
Personal Accident Insurance:
Yes
Network Garages:
4000+ network garages
No Claim Bonus:
Up to 50% of existing policy

Applying for Bajaj Allianz Car Insurance Renewal Plans

There are various ways in which a person can apply for Bajaj Allianz car insurance renewal plan. The policy can be filled on the company website where an individual need to fill up a form and request for a call back from the company. Buying the car insurance policy online through other insurance sites are also possible. Bajaj Allianz car insurance renewal can also be bought through branches of the company or through agents.


Calculating Premium for Bajaj Allianz Car Insurance Renewal

As a person applies for the car insurance, the policy premium is decided upon the type of car that the policyholder has. The cars are divided into three categories - namely A, B and C.

‘A’ type of cars are the cars that are bought newly and are the slightly expensive sort of cars. The premium for cars such as a newly bought BMW model 1 series car is about Rs. 57,371 for an insured declared value of Rs. 18.81 lakhs.

‘B’ type cars are the second-hand cars that a policyholder has bought. Cars such as a Chevrolet Cruze 2.00 Ltr, with a registration dating back to 3 years ago will have an estimated premium of Rs. 16, 389 at an insured declared value of Rs. 564, 470.

‘C’ type of cars are those that a policyholder buys as a gift for another person such as a Honda Amaze. The premium for this sort of car is Rs. 16,863 for an insured declared value of Rs. 498,556.

Premium calculator for Bajaj Allianz car insurance renewal:

Applicant
Type of vehicle
Insured Declared Value
Premium
A
BMW Series 1
18,81,000
57,371
B
Chevrolet Cruze 2.00 Ltr.
564,470
16,389
C
Honda Amaze
498,556
16,863

Claims Process For Bajaj Allianz Car Insurance Renewal

The Bajaj Allianz car insurance renewal claims process can be completed in three easy steps.

Firstly, the policyholder needs to register their claim request with the company. This can be done through calling the company. After registering the claim, the policyholder will be given a claim reference number that they have to keep in mind for future references.

The car is then sent for repair at one of the authorized workshops by the insurance company. The car is surveyed in the workshop and an estimate of the damage repair is given to the company. The company then goes ahead with repairing the vehicle. The only money that the policyholder has to pay is the difference in amount of the claim.