As per the law, it is compulsory for every vehicle owner to buy automobile insurance for his car. If you already have bought insurance for your vehicle, it is great. In case you haven’t, like it or not, you need to get your car insured. Before you select an insurance plan for your vehicle, you must pay attention to some points so that you buy the best insurance plan for your vehicle. Maruti insurance policy offers good vehicle insurance plans. You can check them out.
Keep the points mentioned below in your mind when you buy a car insurance policy. 1. Cashless Claim Settlement This is an important factor when you opt for a car insurance plan. A cashless car insurance plan lets you file an insurance claim for your vehicle repair without any cash handling. It becomes the claim process very easier and convenient. Car insurance providers partner with various garages in order to offer cashless claims to their clients. Vehicle insurance, ensure to check how many network garages are listed. 2. NCB, Discounts, and Deductibles When you buy an insurance plan; pay attention to the details in regard with the NCB, discounts, and deductibles. It will help you to get the maximum benefits from your insurance plan. Information regarding NCB will help you stop filing unnecessary claims. 3. Customer Care and Claims Assistance Around the Clock Ask this crucial question to your prospective insurer -how long they will take to process a registered claim? The time taken for providing the claim service is an important element in determining the convenience offered by any insurance provider. 4. Insurance Provider’s Claim Settlement Ratio This is another important element to consider before finalizing a vehicle insurance provider/plan. Ask them about the number of filed claims against the number of settled claims. It ties with the claims service turnaround time. If the claims settlement ratio is higher, the reputation of the insurance provider is better. 5. Type of Insurance Plan What type of plan your insurer is offering you? A Third-Party cover or a comprehensive policy? It includes adequate additional benefits or not? Do not accept any other insurance plan. Ideally, a motor Insurance plan should be beneficial to you as an insurance buyer in case you have to you file claims because of any unfortunate incident. You must review your options carefully and select an insurance plan policy that offers you the benefits and fulfills your insurance needs. 6. Reviews of the Insurance Providers Carefully go through the reviews posted on the insurer provider’s website so that you can have the access to the first and information. Reading about the services provided by the insurance provider to other customers and their experience is a good way to analyze the quality offered by a specific insurance provider before you make any choice. These were the points that you need to consider before buying a car insurance plan.
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Under Daily Hospital Cash feature, an individual is covered at the time medical emergency. The policyholder gets a fixed amount of money on each day during the hospitalisation. The pay out for daily cash allowance by your insurance provider is excluding the total hospitalization expenses. You are free to use this allowance as you need them. Since it is not related to health insurance policy, you can claim both the health insurance policy and as well as the daily hospitalization cash.
Difference between Mediclaim Policy and Daily Hospital Cash Plan? These two terms are totally different, so don’t confuse. The below passage explains the difference between Daily Hospital Cash Plan and Mediclaim plan.
L&T Health Insurance Plan Health insurance policies offered by L&T General Insurance Company are the most selling insurance products in the market. It provides protection to your life by providing the best medical assistance in case of medical emergency. The health insurance policy covers the cost of hospitalization in case of medical emergency. L&T Health insurance policy provides different kind of coverage and benefits to its policyholder, for example, it covers hospitalization expenses, tax benefits, pre and post hospitalization expenses. Some Amazing Benefits Offered Under L&T Health Insurance Policy Health Insurance L&T health insurance plan provides some amazing benefits when you meet with a medical emergency. It helps you avoid financial stress when you meet with a medical emergency. Cashless Treatment – under its health insurance plan you can avail cashless treatment at its network hospitals. Ambulance Charges – this health insurance plan also provides ambulance charges incurred due to hospitalization. Daily Cash Allowance – This feature does not offer a sum assured amount. When you choose for a Daily Hospital Cash Allowance Plan, you also need to select how much amount you need as a daily benefit. This could range between Rs. 500, Rs. 1,000, Rs. 1,500 and upwards. The premium for this benefit depends up on the amount you choose under your plan. Per and Post Hospitalization – L&T health insurance plan covers the pre and post-hospitalization expenses prior 60 days of the hospitalization and 90 days after the discharge. While buying any health insurance plan form the market, it is important to know some important factors. Consider the following tips before buying a health insurance policy form the market:
Public awareness about the importance of health care and medical insurance is increasing every day and the demand for health insurance coverage is too. Youngsters are aware of the benefits of health insurance plans and they are actively purchasing insurance plans to live a safe and secure life.
Your health insurance policy will not cover you against the expenses incurred due the treatment of critical illness. Unfortunately, many of us think that our health insurance plan will cover the critical illness expenses, whereas it will not. For any such medical condition it is very important to be covered under a critical illness insurance plan. Importance of Critical Illness Plan Generally, youngsters are considered healthy, but due to unhealthy life style and eating habits youngsters are more prone to critical diseases. For this reason, it is essential to be covered under a critical illness plan to deal with such situation strongly. Most of them ignore the importance of coverage offered under critical illness. Unhealthy lifestyle is causing several health disorders, for example, cancer, heart disease and diabetes. These health problems are increasingly affecting young individuals under the age of 35 years. Medical conditions such as juvenile diabetes that affect children are also rising. The growing health problems are the result of the change in lifestyle. Benefits under Critical Illness Plan Critical illness health insurance plans are designed to cover the specific medical condition and providing a safety net against critical illnesses such as cancer, heart attack, paralysis, organ transplant, kidney failure, bypass surgery, stroke etc. Generally, sum insured option under critical illness health insurance ranges between Rs.1 lakhs and Rs.10 lakhs. Critical illness treatments need higher costs therefore insurance company offers higher sum insured options Following are the features of critical illness health insurance plan:
Your basic health insurance plan will cover you against the expenses incurred due to hospital bills, but it will not offers additional benefits like a 2nd opinion for the type of treatment for the critical illness, will be very useful. Critical health insurance plan covers much more than just hospitalization bill and provides multiple benefits to its policyholders. If you are the primary earner in your family and you need medical treatment for any critical illness and you are not allowed to go office or work. In this case the financial need of the family will suffer, but being covered under a critical illness cover ensures that you and your family meets the regular needs and avail treatment, without any financial crisis. Younger people who drive through roads everyday are prone to accidents. This risk cannot be avoided but the better idea to deal any such case is to have a Personal accident insurance plan. It covers you against the high medical cost arising out of a medical emergency.
Personal accidents are not covered under your health insurance plan, so it is always better to be prepared for such unfortunate events in your life. Health insurance plan and personal accident insurance plan are two different products that provide financial assistance at the time of medical emergency. Health insurance plan covers the medical cost, in case of any health related problems but not when you got injuries due to an accident. For such accident, you need to be covered under a personal accident insurance, which takes care of the best medical care and financial need at the time of medical emergency. There are more than 100 accidental insurance plan and their providers in Indian insurance market. It might be possible that you get confused between these policies. This article is a perfect guide to buying the best personal accident insurance plan from the market. Now, read the benefits and coverage that you should consider while buying personal accident insurance plan: Death Coverage Consider a plan that offers full sum insured in case death occurs due to an accident. It is true that life insurance offers equal to sum assured to the nominee, in case of death caused due to accidental or natural. But personal accident insurance plan pays the sum assured only in case of accidental death. Coverage for Children Education Along with this death cover, the policy should also provide children education bonus. Consider this amount around Rs.5, 000 per child maximum for 2 children. This will help you to safeguard your children’s future after your life. Permanent Total Disablement Think of a situation that due to an accident if you become disabled for life, how you will earn your livelihood. Make sure your personal accident insurance plan offers total sum assured. Permanent Partial Disablement In case you met with permanent partial disability unlike permanent disability as mentioned above then your insurance provider must pay you the certain percentage of sum assured depending on the level of disablement. The percentage of total sum insured offered under the plan varies from policy to policy. Temporary Total Disablement For example, you met with an accident which causes minor injuries that need few days or week bed rest for recovery. Make sure your insurance provider pays a certain percentage of sum assured as a benefit. Again this percentage varies from policy to policy and company to company. Along with the aforementioned features, you should also consider some interesting offers from the insurers like a cumulative bonus for the claimless year, family discounts, medical treatment expenses, etc. Few Important Tips to Buy Personal Accident Insurance Plan Write Down Your Requirements It is very important and the first step you should consider while buying a personal accident insurance plan in the market. Make a list of your own requirements, for example, the coverage and benefits you wish to have under your plan. This will help you to buy the plan that will fulfil all your requirements. Compare Online Before finalizing any plan you should compare different plans available in the market. Comparing on the basis of its coverage, benefits, and premium amount will help you to buy the best accidental plan. Consider Lower Premium The lower premium will help you to avoid high expenses, to do so you should choose the coverage that is beneficial and use to you. Buy It Online Last but not the least is buying a personal accident insurance plan online. This will help to save your money and time. Health is Wealth. Everyone has heard this adage. In today’s world with the rising costs of health care and medical facilities, this saying is doubly true. In the modern age we are at risk for increased health problems to the increasing pollution and hazards of modern living.
Therefore, it is crucial for us to have a good health insurance plan that provides Family Health Insurance Plans and also covers all our health care expenses. We are constantly worried about the well-being and health of our family. Getting good Family Health Insurance Plans can go a long way in alleviating such concerns. More and more people today are opting for family floater health insurance plans rather than individual covers. Best Family Health Insurance Plans Available Online ICICI Lombard Complete Family Health Insurance Plans - provides comprehensive coverage for you and your family. The policy also offers customization as per the insurer’s needs taking factors like hospitalization and maternity cover into play. Policy Coverage
Merits of Family Health Insurance Plans
Demerits of Family Health Insurance Plans
Max Bupa Heartbeat – is a family floater plan that provides complete blanket coverage for the health care of your family. Policy Coverage
Policy Coverage
Policy Coverage
Tata AIG- has Family Health Insurance Plans that provide each family member with independent coverage. There are three main plans-Classic, Supreme and Elite. Policy Coverage
Policy Name Entry-Exit Age Cap Sum Assured Limit ICICI Lombard Complete Health Insurance – iHealth Plan 3 months- No limit 3,00,000- 10,00,000 Max Bupa Heartbeat No lower or upper limit 2,00,000- 50,00,000 Star Health Family Health Optima 5 months- 65 years 1,00,000- 15,00,000 The Oriental Insurance Happy Family Floater 3 months- No limit 1,00,000- 5,00,000 (Silver) 6,00,000- 10,00,000 (Gold) Tata AIG Wellsurance Family 6 months- 65 years 2,00,000- 4,00,000 Health insurance plans act as a great saviour to protect an individual from any financial burden arising out of hospitalization and illnesses. The best way to protect your entire family under a single health plan is by opting for family floater plans. Family floater plans help safeguards all the members of your family on a shared basis and with no individual limit for each member. The points mentioned below will assist you to understand in detail about family health plans, its key features and benefits. What is Family Health Plan? As opposed to individual health plans, family health plans covers the entire family under a single plan. It works with the prime assumption that all the members of the family will not fall ill at the same time or will have hospitalization expenses. If any member gets hospitalized, they can claim coverage up to the entire sum insured amount and thereby gain from a wider coverage. Differences between Individual and Family Health Plans How to Select the Best Family Health Plans? Choosing the right family health plan for your family depends on your family and their individual health requirements, dependencies and financial needs. Here are some points that will help you choose the right family health plan: 1. Sum Insured Selecting the right sum insured or coverage amount for the entire family is very important. Consider the number of members and their age, and choose the right sum insured amount for the family health plan. Even if one member gets hospitalized, there should be enough amount left for other members who might be at risk. 2. Age Older individual carry a higher health risk since they are more prone to diseases when compared to younger individuals. When you plan to cover your elderly parent or in-law under your family health plan, their age will determine the amount of premium you would pay. The higher the age of that member, the higher the premium will be. Also, there are possibilities that the elder member might use up a large part of the shared sum insured amount of the family health plan. Hence it is always recommended to buy a separate health plan for senior citizens, parents/in-laws. 3. Sub Limits Ensure that the family health plan does not have any sub-limits or specific limits for certain illnesses or treatments. Also check if there any room expense limit and reduce your out of pocket burden. Do, check out the exclusions, pre-existing diseases coverage and other clauses of the family health plan, before you make your purchase. 4. Premium A premium for a family health plan would definitely cost you lesser than separate individual healths for each member. Compare and select the best family health plan with a competitive premium rate and wider coverage. All in all, health insurance should not be considered as an unwanted expenditure. Having adequate health coverage is a must to protect you and your family. The best family health plans will reduce your burden and save your expenses by sharing cost across all the members of your family. Consider the above factors when selecting the best family health plan that is suitable for your family needs and requirements. Royal Sundaram offers unparalleled health insurance plans that have a wide health coverage at affordable prices. Royal Sundaram Health Insurance called Lifeline is an individual and family covering insurance policy that is easy to comprehend and buy. It covers you and your family for most of the medical calamities that might one might incur. An Overview of Royal Sundaram Health Insurance or Lifeline With access to the Royal Sundaram Health Insurance Login one can easily check out the options they offer to their clients. When one wants to insure their family, all one has to do is match the Royal Sundaram health insurance premium chart to the eldest person in the family and decide on the best suited plan. Before opting for this insurance policy let us look at some of the basic criteria that it covers. Why should you buy Royal Sundaram Health Insurance Lifeline? It offers benefits such as:
Features & Benefits of Royal Sundaram Health Insurance Lifeline Plan Apart from the regular covers like inpatient care, pre-and-post hospitalization expenses, it also covers vaccination expenses from animal bite, global emergency hospitalization and treatment of 11 critical illnesses excluding Canada and US. There is also a 7.5 percent discount on two year policy and 12 percent discount on a 3 year policy. For further details, contact the company’s customer care. What is the eligibility criteria to avail the insurance?
What are the inclusions or fine print in the insurance?
What are the exclusions or fine print in the insurance?
For more information, check the prospectus. Documents Required for Medical Reimbursement
How to make a claim?
For cashless facility
For reimbursement facility
For international treatment claims, refer to the company’s website for more information and clarification. Accidents occur out of nowhere, a serious injurious or in worse cases, death could have serious financial consequences for one’s family. Financial security to your family in these situations is what accidental insurance plans provide. Overview of the Accidental Insurance Plan Many people generally opt for a lifetime Insurance Plan by Future Generali but a personal accidental insurance plan is more recommended as the person insured will be covered at a nominal premium rate. Covering the person in case of small injuries and loss of income as well. Normal life insurance plans do not cover these factors.. The entry age for the Insurance plan is 18 years to 70 years with a lifetime renewal option. For children 5 years to 25 years can be covered as dependents. The returned sum from the accidental insurance plan can be 100% to 1% depending on the type of injury that the policyholder or the members of the policy have sustained. 100% sum assured being for serious injuries like death while 1% per week for temporary total disablement. Why to buy Personal Accident Insurance Plan by Future Generali?
Key benefits and features of accidental insurance plan include a cashless claim network where there is a cashless claim service over 1000+ authorized network across India. There is a discount available for policyholders who are buying large sum policies there is a discount available up to 40 lakhs. A personal discount of Rs. 50 lakhs only for registered owner is also included in the benefits of buying Accidental Insurance Plans. Inclusions of Accidental Insurance Plan
There are many ways in which an Individual can apply for Accidental Insurance Plan from future Generali. They can log onto the company website and opt for the health Insurance plans that suits them the best. Individuals that are interested in the accidental insurance plans can call the Sales helping of the company and ask customer care how to go over the process of getting a policy. Claims Process for Accidental Insurance Plan At Future Generali, there is an in-house claim settlement team that processes claims within 14 working days from the time of receiving the completed claim documents. This team can also give specialized advice on how to go about the claiming process. For periodic updates one needs to mention their mobile and email-id so that they can follow their claims process. For getting claims for this Accidental Insurance Plan there are certain documents that are required to be submitted. These documents include the filled-up claims form that must be signed by the policyholder, a medical certificate from the medical center/doctor, a summary from the nursing hospital and also the original discharge card. Consultation of the Doctors history along with all ordinal reports, cash memos from the pharmacies/hospital along with proper prescriptions. The Medico Legal Certificate given for accidents. Rising medical care costs are the major reason why you need to buy Mediclaim policy for your family in the year 2017. Medical care costs are continuously rising every day, which becomes unbearable for middle class people in our country. A Mediclaim plans help you to manage your financial requirements at the time of medical emergency.
It is true that no one can predict about such uncertainties of life, but all you can do is that be prepared for any such unfortunate events that needs huge sum of money. As you are already stepped in to the year 2017 with lots of new resolutions, it is advised to add one more resolution to your list, which is buying a Medicalim policy for your family. It is very mandatory to protect yourself from the financial loss in case you or your family member meets any medical emergency. The best Mediclaim plan is one which offers right type of insurance coverage and benefits at nominal premium value according to the need of the individual. While selecting a family floater plan for your family amongst the wide range of products available in the market, you need to care about few important things that are given below: Best Family Floater Health Insurance Plans An individual Mediclaim policy provides coverage to you and your family health that offers financial protection against several the medical emergencies. So, if you don’t want to lose your saving or avoid a hole in your pocket due to any medical care requirement by you or your family, you should buy the best family floater health insurance plan in the market. When you and your family are covered under a family floater health plan there is no need to buy Mediclaim Insurance policies for every member of your family. The matter of the fact of buy a single mediclaim policy over a family floater plan is that it is much more nominal than buying individual plan for different members. The premium of Mediclaim Health insurance plan depends up on the number of family member that are covered under the policy, the age of the family members like it considers the age of most senior member. It offers you the sum insured limit for the whole family up to Rs.10 lacs. Benefits of Opting Family Floater Health Insurance Plan Cashless Treatment Allowance This is one of the most important coverage you should look for while buying a family floater health insurance plan for your family. This feature under a health insurance plan allows you to avail cashless treatment at network hospitals of the insurance company. Nominal Premium All the important coverage and benefits that are required by you should be available under a family floater plan that you are buying. But make sure you check the premium amount before you buy the plan. Pre Existing Diseases Family floater health insurance plan also provides coverage for pre-existing diseases after certain waiting period. Claim Settlement Procedure Claim settlement procedure of the insurance company should be very simple and easy. For your convenience I am listing the name of top family floater plan available in the market. But before selecting any plan from the list make sure that you compare these plans on the basis of coverage, benefits and premium. List of Top 5 Family Floater Plan in India 2017
When your car is valued by an automobile company, your car insurance provider pays you for the evaluated car's value. You can direct this amount toward the money you still owe on the valued car, or you can invest it for purchasing of a new vehicle.
Everyone who has been through this procedure agrees that it is the most frustrating to accept the value of your car evaluated by your car insurance company. The evaluated value of your car comes much lower than what you estimated, which is not at all sufficient to purchase a new car. In many cases it is less than what they still owe on the car. Considering the fact most car owners are clueless of the methodology and terminology used by insurance companies to value cars. The valuation methodology of the car is esoteric, rely on abstract data, the specifics measures of which they are very keen not to reveal. This measures and methods make it difficult for a car owner to raise question on the low offerings from a car insurance company. However, knowing the criteria and terminology up on which the insurance company evaluate the value of cars will help you to understand and estimate the real value more accurately which to negotiable. Read the Valuation Process of your Car When you inform insurance company about your car accident, the company fixes your appointment with an adjuster who assesses the damage of your car. The very first step involved in this procedure is determining whether your car needs valuation. Your insurance company may find it necessary that the car need to be valued even if the damages can be fixed. Generally, the insurance company evaluate a car, in case the expense to repair exceeds 60 to 70%, of its total value. Once the car is totaled, the adjuster then move forward with an appraisal and mention a value to the vehicle. The damage occurred due to an accident is exclusive from the appraisal. Now, the adjuster estimates what nominal cash offer for the car would have been immediately before the accident occurred. Next, the insurance company allows a third-party to claim for its own estimated repair expenses incurred on the car due to the accident. This is measure is take to minimize any appearance of underhandedness or impropriety and to allow the car to go through a different valuation methodology. Actual Cash Value Vs. Replacement Cost I am sure now you wish to know that why there is a difference between actual cash and replacement cost. Here is an answer to this question. There is a huge difference between the value of your car as valued by the insurance company and the actual amount that will incur to purchase a new car. The insurance company offers benefits on the basis of actual cash value (ACV). This amount is determined by the insurance company for someone who reasonably bear for the car, assuming the time before accident. Therefore, the value is considered as depreciation, wear and tear, cosmetic blemishes, mechanical problems and supply and demand in your locality. Even in case you buy a new car and only drove it for a year before the accident took place, its ACV will be less than what you paid for the car. Hope this article has helped you to clear the methodology used to value the car. Now consider the above factors to estimate the value of you car from your end. For further assistance you can also take help from insurance agent or broker. They will help you to understand the terminology and methodology in a better way. |