Life is unpredictable as anything can happen anytime. That is why you need to buy insurance in order to safeguard yourself against any unfortunate situation. Life insurance makes sure that your loved ones accomplish their financial goals even when you are gone.
A medical insurance plan will make sure that you provide a high-quality medical care to yourself and your beloved family. Most of us feel that if we’ve sufficient life insurance and health insurance coverage, our finances as well as financial goals would be safeguarded. In the terms of insurance, it is very important for us to buy an accidental insurance plan for overall insurance protection.
An accident can cause partial or total disablement that compromises your income earning ability after the accident. Life insurance won’t provide coverage for this scenario. Health insurance would specifically cover the hospitalization expenses. There would be a gap that isn’t covered. In such particular cases, an accidental insurance plan can be a blessing in disguise. Though such plans offer a limited cover, it is better to have limited coverage than having no coverage at all.
What is a personal accident insurance policy?
A personal accident policy provides coverage against the damage caused to the insured person in a road mishap.
It provides coverage against permanent total disablement, permanent partial disablement and total temporary disablement, death because of an accident. If the policyholder dies or he/she is partially or totally disabled because of any natural illness; then totally or death would not be covered in a personal accident plan.
What is considered as an accident?
As per the standard definition of IRDA guidelines an accident is an involuntary, unforeseen, sudden event caused by any visible and external means.
What is covered in a personal accident plan?
Generally, an accident plan provides coverage for the following four major events.
1. Death because of an accident/ accidental injuries.
2. Permanent total disablement because of an accident/ accidental injuries.
3. Permanent partial disablement because of an accident/ accidental injuries.
4. Total temporary disablement because of an accident/ accidental injuries.
It is not compulsory that every insurance provider will cover all the four factors mentioned above. You need to read the terms and conditions mentioned in the fine print of a policy very carefully. It will help you to know the particular nature of insurance coverage offered to you.
A personal accident policy is defined as a benefit plan which means that on the occurrence of any insured event; the insurer would pay a sum assured which can be full as well as partial based on the plan that you have selected. There isn’t any relation with the hospitalization expenses. It’s in contrast to a regular medical insurance plan, where the hospitalization charges are covered.
Related-: Important of Health Insurance policy
For instance, if your sum assured is Rupees 10 lakh; at the time of permanent total disablement, the insurance provider will pay Rupees 10 lakh. On the contrary, if there is a case of permanent partial disablement, it might pay you a sum of Rupees 5 lakhs that is 50 percent of sum assured. The payout would be made regardless of the incurred hospitalization expenses.
Have you ever been insisted on buying a health insurance plan? Are you aware that the insurance market is flooded with thousands of health insurance plans that leave no stone unturned to pull your attention? Well, when it comes to health insurance, Indian financial market is dominated by the plans like Royal Sundaram Mediclaim, HDFC ERGO Health Insurance, Religare Health Insurance, Max Bupa Health Insurance, Apollo Munich Health Insurance etc. If you are familiar with these terms then we assume, you’ve come across the myths that revolve around the term ‘Health Insurance’. Here we’ve debunked some health insurance related myths to show you the actual picture behind the scene:
Myth: To Make a Claim it is Required to be Hospitalised for minimum 24hrs
Reality: It might be in some cases, but not always for every policy. There is no hard and fast rule for every illness that you are diagnosed with needs 24 hrs hospitalisation. Some illness including Radiology, Piles, Cataract, Hernia, Chemotherapy, Kidney Stone removal etc can be treated under Day Care facility. Most of the health insurance policies offered day care facility. So, rather believing on the rumours and assuming something that is not real, it is better to go through the day care procedures. 24 hrs hospitalisation is required in the extreme cases when it is ‘NECESSARY’ and if it is then the policy specifically mentions the same in the document.
Myth: I am Young and Fit so I Don’t Need a Health Plan
Reality: Being young doesn’t mean that you are not prone to any illness, at least you can’t ignore the seasonal one. Though it seems not essential to have a health insurance plan at your early age like 20’ or 30’, you may have caught with any diseases like dengue, malaria, seasonal influenza etc. despite being healthy. If the symptoms are not identified at the early stage or precautions are not taken on time, there are possibilities of being hospitalised is higher. And you can estimate the medical expenses these days. The situation may go even worst if you are living in a metro city like Delhi or Mumbai where medical costs are sky high. Only health insurance policy comes as a saviour at this point of time. Also, the accidental cover offered in a health plan saves you from being bankrupt.
Related-: parents health insurance plans
Myth: I Don’t Require to Disclose all Medical Expenses to Get Coverage
Health insurance has certain terms and condition and not all ailments are covered in a standard plan. At the time of buying a plan, you are bound to disclose the existing illness if any to avoid the consequences later. Every policy owner has to serve a waiting period of 12 to 24 month to avail the benefit of coverage for pre-existing illness. Before that, you can’t claim for any medical expenses you incurred or your claim can be void. To avoid this, it is essential that you clear about all medical history, which in return will make your claim process smooth henceforth.
I am a Member of Employer-sponsored Health Insurance and Don’t Need a Separate Cover
Every company facilitates its employee with group health insurance plan which covers the employee along with spouse, children or parents. But these plans pose certain limitations. And most importantly, you are the member of this group until you work for the organisation. Your membership will be ceased once you resign. Moreover, the employer can any time restricts the benefits. The sum assured is also not sufficient to meet the current medical expenses, which is not more than 1 to 2 lakh.
So whenever you are bound to sign on the dotted line, just consider few things:
Turning 30? Here comes the TIME to take charge of your financial decisions. Turning 30 is a wake-up call for many of us. Some get married, while some are planning for a family. While some reach the peak of their career, some find it a proper time to make some investments.
So, have you decided yours? If YES, is your list include the below financial decisions?
Invest in a Health Insurance Plan
No matter you are covered by your employer’s group health insurance plan or not. Always spare some amount and invest on a good health insurance plan. It will keep you safe in the event of an unforeseen situation by bearing your costs that may arise out of accidental hospitalization or medical expenses. There are a plethora of health insurance plans like Bharti Axa Health Insurance, Apollo Munich, Max Bhupa Health Insurance etc available in the market. You can compare those plans online and buy the one who fulfils your need.
Secure Your Child’s Future
Believe us, it is essential!
The sky-high admission rates or ever rising education expenses make this indispensable to save for your children’s future, even if you are unmarried. Eventually, you’ll take the marriage vow and bring your child into this world that is your prime responsibility. With the ever increasing education cost, you wouldn’t survive without an adequate education plan for your child. On a serious note, do visit your insurance advisor or devote some money to your child’s post-birth care and educational costs.
Being that much smart will help you up-bring your child in a financially secured environment and getting best from your able parenting.
SIPs are Alluring
Investing in mutual funds is a wise decision! By investing market shares you can earn large profits, -which will be provided either short-term or long-term. Though mutual funds are vulnerable to market factors, the profit earned out of them can be used to pay an insurance premium or invest in FDs. Just learn to play right with those small investments and you’ll be benefitted on long-run.
Set a Fund for Emergencies
Keep aside some amount for emergency use only. Save some money from your monthly earnings and make sure you don’t withdraw it unless any emergency arises.
Term Insurance, a Wise Decision
Take those LIC advertisements seriously. These portray how a term insurance plan helps you taking those major decisions in life without thinking about money such as child education, marriage of your children or in case of any emergency arises. Even in your sudden demise, it provides financial assistance to the family. It is always beneficial to take life insurance at your early age, as you end up paying a lower premium. Life is unpredictable. So don’t waste time, take a term insurance right away!
Manage Your Bad Debts:
A mishap may lead to non-payment of your monthly due such as credit card EMI’s. loan EMI, termed as bad debt as you end up paying them for a longer term. Ensure you are saving an amount from your income to face such incidents, which may double your payable for the next time. It is advisable to consolidate your bad debt amount and try avoiding excessive expenditures.
Plan for Your Own Retirement:
Planning for your retirement at your young age is good. Try to save and invest in yourself. You work hard to make money. When you are not depending on others at your young age, why not secure your old age as well? You, of course, don’t want to be dependent on others after you retire, right?
Invest in SIPs, FDs, PPF funds and reward your retirement with profits. These steps will be proven as assure shot financial tricks for gaining maximum benefits during your old age.
Smartly invest at a young age and reap the benefits to enjoy for a long time!
A considerable percentage of Generation Y has recognised the benefits linked to health insurance, while a large portion of Indian still looks at medical insurance as a tax saving asset. ICICI Lombard’s recent survey says that among 1400 young people in the age bracket of 25-35 years, 75% people said that they own health insurance. 46% of insurance buyers said that tax deduction on medical insurance was the alluring factor that attracted their attention and made them buy the plan.
Time has been changing at a fast pace and every segment of our life gets affected. The health insurance sector is no exception. Considering the medical inflation, having a health insurance plan is essential these days. A single hospitalisation can make a big hole in your wallet. With a medical plan, you can bear those extra financial hiccups. But it doesn’t mean that you buy a health insurance plan in haste. A plethora of medical insurance policies have been introduced over the time, which may confuse you. Here are few factors to help you select the best health insurance policy in India. Let’s have a glance:
Deductible and Co-pay
The deductible is a fixed amount that you agree to pay by yourself. For instance, if your policy registered a deductible of Rs. 5000 and your claim amount is Rs. 1000, your insurer will pay 5000 only and you’ll pay the rest 5000.
Likewise, co-pay is another important factor that you should consider while buying a health insurance plan. This clause requires the insured to pay a certain percentage of the medical bill out of his pocket and the rest amount will be paid by the insurer. It is not fixed and ranges from 10% to maximum of 30%.
Related: Family floater health insurance
Benefits under a Plan
Plans based on indemnity have multiple benefits including expenses of pre-hospitalisation and post-hospitalisation, inpatient hospitalisation benefit, domiciliary treatments, maternity related benefits, day care procedures etc. Hereby, it is imperative for you to understand your requirement and choosing a plan considering all the benefits. Some plans will add you for additional benefits as well like free health check-ups on renewal, free ambulance services etc. You should consider these all together.
Taking up Right Sum Assured
Choose the suitable amount of medical cover or sum assured bearing in mind the sky-high medical expenses, the city where you reside in, as hospitalisation expenses are costlier in metro cities than to non-metro cities. Check if your policy covers room rent, surgery expense, critical illness costs, the budget you set etc. Taking a comprehensive view will help you in deciding the adequate amount of sum assured. You should be very careful the time of setting a sum assured. Higher the sum assured means higher premium rate.
Serving a waiting period is such an annoying thing. But every insured has to serve a waiting period, which means you can’t claim your insurance during this tenure excluding the emergency hospitalisation expenses. Most common waiting periods in health insurance sector includes:
No Claim Bonus
Is not the bonus word alluring? Bonus makes us happy, be it work related or from our insurer. You can earn No Claim Bonus with most of the health insurance plan for not claiming your insurance during its tenure. The NCB ranges from 20% in the initial year to 50% at the sixth year. However, NCB terms may differ insurer to insurer. Always go for a plan that offers a maximum of NCB. So before purchasing a mediclaim policy, go through the clause No Claim Bonus and reap the maximum advantage of it.
Well, this is not the comprehensive list. A large number of factors influencing health insurance, these are just a few of them that you may consider while buying your plan!
You may be having a medical insurance plan that protects you in case a medical emergency strike. Considering the rising risk of falling prey to lifestyle diseases, having a health insurance plan is a prudent decision. But do you think it is enough to meet the current medical expenses with sky-high inflation rate? If your answer is ‘No’ then it is the time to consider making another financial buffer via critical illness health plan.
It is tough to find the best critical insurance policy, with a plethora of insurance plans have been introduced in the Indian market. It is essential to choose the best critical ailment plan to ensure you and the family are protected from financial hindrance during a medical emergency or being diagnosed with a critical disease. But before buying a critical illness plan, you should be acquainted with the policy and its benefits. Previously, this policy covered six critical illnesses including cancer, heart attack, kidney failure, organ transplant, coronary artery bypass graft surgery. But, now insurers have started introducing plans that cover a maximum of critical illness. In this article, we discuss 5 reasons why you need a critical illness cover.
Avail Lump Sum Amount for Critical Illness
With a critical illness plan, you can avail lump sum amount on the diagnosis of a critical ailment. This way you are covered to pay the hefty medical expenses incurred during the treatment. You may not be offered with this facility in cashless mediclaim policy
Read more about insurance stuff
Influences Fixed Financial Liabilities
Every individual has some fixed financial liabilities including a utility bill, home EMI’s, school/college fee etc which can’t be ignored as it may disrupt your daily schedule or affect your credit history. While an emergency arises, your financial planning tends to affect intensely. Getting a lump sum amount in this regard from critical illness plan may restrain you from being bankrupt.
Out-of-pocket Medical Costs
Some medical treatments apart from being expensive cause some out-of-pocket expenses incurred by you. For example, treatment for heart transplant done in a place that requires you to travel or relocate for a couple of days. This by any means poses extra expenses and these expenditures are not covered by the stand-alone mediclaim policy. Here comes the critical illness plan in the picture!
Sustain Normal Lifestyle
You generally used to of a defined lifestyle that our pocket can afford. You embrace that lifestyle depending on the earning. A sudden medical emergency, which incurs outstanding medical expenses, may obstruct the lifestyle you subsist, due to a dent in your pocket. Buying a critical illness plan you can eliminate these stress, as you will be reimbursed for the expenses you make during the treatment.
Resume Pre-health Condition Quickly
It is necessary to have a financial back-up if the main earning member is diagnosed with a medical emergency which is life threatening. With a critical illness plan, which covers your medical expenses, you can resume good health status shortly. When you remain stress-free financially, another family member can concentrate on your fast recovery. Otherwise, considering your physical condition, family members may have to seek for an occupation to support the family financially. If your financial worries are taken care externally, you can focus on your speedy recovery.
Analysing these points, we can sum up the critical illness plan as an asset, which ensures complete peace of mind if any medical crises arise. However, the number of critical illness covered in a plan may differ plan to plan. Hereby, you have to be careful while purchasing a plan keeping the requirement of yours in mind!
The importance of motor insurance has been increasing after it becomes mandatory by law for every car owner. While there is no escape from auto insurance, applying some efforts to lower the premium can be helpful to some extent. You might have heard that your premium rate is depending on certain parameters. However, breaking the tradition of four parameters prevalent earlier, now a verity of factors influence on your auto insurance premium rate. Here is sneak peek on 8 ways you should consider if want to lower the premium-
Get Multiple Quotes Before Buying
Always shop around. Don’t just stick to one and pay. There are a host of websites which provide comparison tool. You can compare the plans accordingly and select the one with the cheapest premium.
Pay High Deductible
If you are willing to go a step ahead with deductibles, you can wind up saving a big amount on your rates. If the customer willingly bears a stipulated amount of claim, the insurer will pay only for the damages, which excess the deductible limits.
Add Safety Devices
Premium depends on risk. Bigger the risk, higher the premium you pay. By installing safety devices, you can lower the risk to your vehicle and thus reduce the risk perception of the insurer towards the vehicle. At the time of purchasing auto insurance, you should provide the complete information about the vehicle including the safety devices if installed any such as anti-theft alarm, air bag etc. Moreover, by providing this much information you can avail 2-5% of discount in premium.
Increase Your NCB
Is your premium due for renewal? Well, you can earn discount on ‘own damage premium’ by not claiming you policy. Because for every claim free year, you are entitled to avail a discount called No Claim Bonus. The slab of NCB increases every year and may goes up to maximum of 50%. The best part is the discount earned stays with you even if you sold out the vehicle. Or if you want to change the insurer, you can carry your earned NCB along with. Provided you need to file the claim within 90 days from the expiry of your old policy.
Register in Automobile Association
If your name is registered with renowned Automobile Association, you can avail discount on basis of this. You can avail discount up to 5% on own damaged premium.
Go Online While Renewing
Renewing your policy online, you can avail some discount in premium. Some insurers encourage renewing your car insurance online. On online process, the insurer saves a considerable amount on processing and distribution costs, which is offered to the customers.
Maintain Good Credit Score
Your credit score plays an important role when it comes to insurance premium. Insurance companies have started considering credit score as a determiner to set premium rate. Maintaining a good credit score, you can ensure getting a best deal.
Group All Your Insurance with One Insurer
By choosing one insurer for all your insurance related deals like auto, health, home etc.you can earn a handsome discount upto 10% of your total premium.
So, reducing your car insurance premium is not a rocket science. Well, this is not the comprehensive one. There are many other factors and these are just some of them. As there is no dearth of car insurance plans available in the market, you should be very meticulous while purchasing one. Always, consider the best deal with lower premium, which fulfils your requirement. Again, it is advisable to pick a company that can assure financial stability and come up with your expectations!
Every alternate day we get to know about road accidents or a car hitting the other causing death or disability. Although, Indian govt. has made mandatory amendments for having third-party insurance to cover third-party related cases, very few register for the same consciously or a majority of people are unaware of best third party insurance plans available in the market. Some have very less clarity about how to go through the process of claiming insurance in the event of being hit by others car. Hereby, in this article, we are briefing the term and certain related facts about the third-party insurance in India.
Usually, a car insurance policy comprises of two varied covers. One takes care of the damages to the vehicle or car owner/paid driver if any, and is popularly known as ‘Own Damage Cover’ or ‘Comprehensive Car Insurance’. While the other covers others legal liability insured owing to accidental death or injury or property damage caused by the policyholder or car owner. As Motor Vehicle Act 1988 indicates, a person can file a third-party insurance claim in the event of an accident. There are certain facts revolve around the liability insurance, here you can check:
5 Related Facts: Check If You Unaware
How much does it cost?
One of the exciting things about third party motor insurance is that it is affordable. For instance, if you purchase an own damage car insurance which covers damages to your car with the third party, you’ll end up paying between INR 10,000-12,000. In the other hand, if you only buy third-party insurance, it will cost around 1,000 maximum. Again, since the act only policy is obligatory by the law, you won’t find the price varying from one insurer to other. More or less it is same and less as compared to the comprehensive plan.
Third-party Insurance Claim Process
Firstly, the victim needs to file a claim for third-party liability against the car/bike owner, the property owner or the legal herald of the deceased.
Secondly, a FIR is required with the details mentioning about
Next step is to register the case with the Motor Accident Claims Tribunal. The case will be preceded under the jurisdiction of the area where the incident happened or the petitioner resides.
You should be very careful about the documents required at the time of filing a claim. All that you require is:
The limit for third-party cover has not been defined In case of an accident leading to an injury or death, the limit of the cover in third-party has not been indicated. The insurer will compensate the full amount to be paid as decided by the court
The automobile industry is a technology driven industry. When technology is involved, issues hover around it. The emerging economies along with the wide spreading urbanization affects sales across the globe, the degree of competition in the industry and it helps a great deal in shaping up its digitization.
No matter how basic or how luxury your automobile is, various auto insurance plans are available in the market and the automobile owners must choose a good insurance plan that provides an extra layer of security to their vehicles.
In future, the regulations would continue to trigger innovation in the automobile industry. The self-driving technology is one of the greatest disturbances in the past hundred years of the automobile industry. It will shape up differently in various regions and markets across the globe. Global markets’ regulatory, customer, and competitive eco-system will interrelate the uncertainties that revolve around these forces would create some thought-provoking questions for the key industry players that are mentioned below.
Emerging Markets- What is the strategy for dealing with China as its annual sales will enhance to 30 million automobiles by the year 2020. What will be the aftermarket impact? How will they respond in case the challenges in China turns out to be too much? Which are the other emerging domains that we need to shift our focus on?
Demand Constraints- To which extent the future growth policies will incorporate the changing attitudes of the younger target audience as far as the automobile ownership, the effect of urbanization, the efforts to combat the congestion on the road and the other regulatory shifts constraining the demand are concerned?
Ownership Models- In what way the development in car sharing would change the buying of their automobile? How would they use it, and when will the people and the companies purchase them?
Distinctions and Competencies- What is the plan for getting the digital inputs that they need? How could they make sure that the blood and the soul of their vehicles be reflected in their brand in case their outputs become more autonomous and digital?
Connectivity- What would be the value of their contribution? How can they capture an environment that is rapidly increasing in the terms of networked mobility? Which type of the applications can they deliver in order to meet the ever-growing demand for the integrated transportation, seamless communication, and active safety?
Mandated Standards- What are the tech portfolios that will address growing emissions along with the fuel-economy across the world in the best possible way? What are the measures that they need to take in order to keep the various type of customers belonging to various segments and geographical locations happy?
Public Engagement- With the expanding scope of the regulation and the debates revolving around pollution, congestion, safety intensity and carbon emissions how can they contribute to the dialogue? How could the makes sure that a fair hearing of the economic and social benefits of the mobility and an equal distribution of the regulations are followed?
Driving is such a necessity that it has become a part of our everyday lives. It is very simple to purchase a car in India, as people have high purchasing power. Most of the households are capable of affording more than one four-wheeler. The perks of having one’s own car increase one’s mobility and reduces any dependence on public means of transport. Owning a car makes a person independent in the true sense.
After buying a vehicle, the first thing that you should buy is vehicle insurance. When you are on the road, behind the wheels, you are exposed to a various number of risks. The majority of the car owners. Don’t follow the traffic rules. Because of their mistake or negligence, other people have to pay the price which is not fair at all. In India, the traffic scenario is ruled by the indiscipline, lack of law enforcement by the traffic authorities etc.
That is why the cases of road mishaps and lawbreaking take place. If you open a newspaper and read the city section, you will come across the various cases reported in it. All these factors make buying vehicle insurance very important.
There are a plethora of reasons that why you should buy car insurance for your vehicle, here are the five reasons.
1. It Covers the Repair Cost
Not just cars but its repair are also expensive. You never know when your car could be damaged because of somebody else’s negligence. Any vehicle can collide with yours, or you might try to save a person end up ramming your car in a divider. All these damages need repairs.
If you have vehicle insurance, you don’t have to worry about the repairs as your insurance plan will cover it.
2. It Decreases your Liability
In India, buying a Third-Party Liability (TPL) automobile insurance cover is compulsory. This covers safeguards you against any legal liability due to any accident that is caused by you.
For instance, an accident happens due to you and it ends up in damages third party’s property or worse it causes injuries to another pedestrian or driver, then the insurance provider will take care of the repair as well as the treatment expenses.
3. It Takes Care of Your Hospitalization
Not every vehicle owner is lucky who meets with an accident and gets away with bruises and a few cuts. Some accidents end up in fractures and severe injuries that need immediate hospitalization. If you have a comprehensive insurance coverage, then you don’t have to worry about the treatment and hospital expenses as your automobile insurance will take care of that.
4. It Provides Compensation to your Family after your Unfortunate Demise
The most unfortunate consequence of any road mishap is the vehicle owner’s death. When the bread-winning policyholder is no more, it becomes very difficult for his/her family to survive and bear the expense of basic amenities. In this difficult situation, the insurance provider provides a compensation to his/her family.
Thanks to the medical inflation, the medical treatment, and health care expenses have become sky-rocketing. It has become very crucial to buy health insurance. The key to buying best health insurance plan is a comparison. Compare health insurance plan before you buy one. The health insurance market has so many insurance products to offer that so many health insurance buyers end up being confused.
The terms & conditions, features sub-limits, and limits aren’t revealed and the insurance buyer makes a misinformed decision. It becomes very difficult for individuals to select an insurance product that fulfills their insurance needs and offers the value for their money at the same time.
Most of the insurance-buying decisions are made based on the lowest price, recommendations of the insurance agents and claims rates. In the end, it results in the partial settlements or claim rejection.
A ranking for ten customer segments, including the premium rates, star ratings, and relevant characteristics for the each category. This was done in order to reduce the pain of selecting an insurance plan that fulfills all the particular insurance needs of the policyholders.
All this was done to understand that what makes an insurance plan a good health insurance plan for the young couples. For obvious reasons, the insurance needs of a young person are different from the insurance needs of the old couple. Now, a majority of the young couples don’t give into the pressure of having kids. They will have kids if they really want to have otherwise, they are happy without that.
We live in the times where both the partners are working professionals. Work keeps them away from their family and they live in a nuclear family. Women are ambitious now. They want to excel in their domain, they want their career graph to go high as they want to touch the sky.
The families and individuals were classified by altering the 'sagacity' segmentation method so that it could suit a wide range of people. The highly relevant characters in medical plans were divided into 5 categories on the basis of its importance for a specific customer segment. These five segments are—Critical, Motivation, Standard, Luxury and Do Not Matter. These rankings consider product pricing, the current one as well as the one charged by the insurance provider as the insured person grows old.
The individual weight and its allocation are based entirely on the claims information available in the public records that are published by the (IRDA), Insurance Regulatory and Development Authority of India.
The premium sum for Rupees 5 lakh coverage for Young couples who don’t want children' in Delhi, having the age of as 31 years includes a 14 percent service tax. The premium ratings consider the current rate applicable long with the aggregate effect of the total increase in the premium as the person ages. In the ‘Final Rating', the characteristics have a pricing of 30 percent and the weight of 70 percent. Regain benefit of the automatic availability of the sum insured at the consumption during the policy period.