GENERAL INSURANCE BLOG

There is a famous saying "health is wealth," and it is indeed true in today's context. With people getting busy with their hectic life, there is a growing trend of unhealthy eating habits and sedentary lifestyle. In the pursuit of money, health has been left far behind. Now, one cannot give up on his/her career, but they certainly can opt for a health insurance policy that offers protection against unexpected medical emergencies. Health insurance is ignored by people for many reasons, and this has led to India's problem of "under-insurance." Herein, people opt for an inadequate amount or rather do not opt for any health insurance thinking that no ailment can affect them. Another reason given by people is that the premium for health insurance is very high, and they cannot afford it. 

Affordable Health Insurance – is it a reality?

The excuse that health insurance is expensive is not true. Affordable health insurance is a reality and has benefitted many families for the past few years. With the rapid integration of technology in the insurance sector, many insurance companies are now offering their services online. You can easily purchase or renew health insurance online  in a few clicks. As most companies have taken their operations online, the cost of availing and renewing health insurance has gone down substantially.

If you are still unsure about the affordability of health insurance plans, here are some tips to help you select an affordable health insurance policy for yourself as well as your family:

Understand your requirements:  First of all, you need to understand yours and your family's health insurance requirements. Consider factors like the number of members, their age, existing conditions, family health history etc. This will help you understand the extent of coverage that you require. 

• Start early: Health insurance premium against a new policy for a young person of 25 years will be much lower than for a mature person of around 50 years of age. This is due to the risk involved for the insurer. So, you must subscribe to a. personal accident insurance online as soon as you start work, to enjoy the lowest premiums. Then gradually, keep on enhancing the coverage of your policy as your income rises. 
• Do some research: Several online insurance marketplaces have come-up, which allows you to compare policies from different insurers easily. As these marketplaces eliminate the agent from the transaction, the cost of the policy goes down substantially. By comparing the coverage of different policies, you can reduce your premium payments significantly. 
• Opt for a floater policy:  You can opt for a floater policy wherein one policy covers your entire family, including dependants. Instead of paying separate premiums, you only need to pay a single premium and will get insurance coverage for the whole family.
• Tax Benefits: You can claim an income tax deduction of up to Rs. 25,000 for the health insurance premiums paid in a financial year for yourself and your family. If you pay a health insurance premium of your parents, you can claim an additional tax deduction. Thereby, you can save substantially on your income tax liabilities. 
• Online renewal: When you renew health insurance online, through the insurance company's website or any online marketplace, you can enjoy lower premiums. As the companies do not need to pay any commissions, you can save a significant amount of money by opting to renew health insurance online.

The benefits offered by a health insurance plan are too good to be ignored just because you think health insurance is unaffordable. Do some research, and you will see that health insurance is indeed affordable and is rather a necessity for your family.

There is a false sense of security in most individuals, where one feels like they can never meet with an accident, but like as the saying goes, it is better to be safe than sorry. No one wants to experience an unfortunate incident, but whether due to your mistake or someone else’s mistake, you can meet with an accident anywhere and anytime. Although no one can control such situations, you can certainly prepare for it.

With the number of vehicles steadily rising, across the country, the possibility of a car-related tragedy also increases. In situations as such, you could be staring at high costing expenses on hospital bills, as well as a loss of income due to being bed-ridden. Having an individual accident policy will take care of all these emergency expenses.

What is a personal accident policy?

Personal accident policy offers insurance cover to policyholders in case of an accident or injury caused due to any given reason. The insurance company will reimburse the policyholder in cases of serious injuries, permanent disability, or death, accidentally caused, according to the terms and conditions of the policy. 

You can buy your personal accident insurance online as well as offline, as per your preference. 

Why should you have a personal accident policy?

There are various benefits offered by a personal accident policy, which make it necessary for you to have one, such as: 

• Reimbursement in case of disability: If you face an accident and suffer a temporary or permanent disability, you can claim compensation from the insurance company. The company will assess the nature of the injury or disability and give you compensation as per the guidelines of the policy. This will support you and your family financially during such tough times.
• Hospitalisation and other expenses are taken care of: All hospital bills and cost of treatment are covered under the policy. In case of death, the insurance company will pay for the repatriation, funeral, and ambulance charges. 
• Reimbursement for modifications: If the accident has left you wheelchair-bound, then you need to modify your home or vehicle to suit your needs. Any expenses incurred for such adjustments necessitated by the mishap can be reimbursed from the insurance company. 
• Payment of death benefit: If the mishap results in unfortunate death, then the insurance company will pay the death benefit amount, as per the policy terms and conditions, to your family members, offering them financial support.
• Transportation of family: If you are admitted to a hospital after an accident and the hospital is more than 150 km away from your home, the insurance company will pay for the transportation costs incurred by your family.

To avail such benefits in the time of emergency having personal accident insurance online or offline is imperative for the financial well-being of your family.

In modern times, various lifestyle-related ailments such as diabetes, hypertension, depression, obesity, etc. have started affecting people from a young age. Due to 24*7 use of smartphones, unhealthy eating habits, and a lack of physical exercise, more and more people are getting affected by these lifestyle diseases. While you may have thebest health insurance policy in india , you need to engage in regular physical exercise to stay fit and healthy. There are various forms of exercises that you can indulge in, but the benefits of daily cycling are too good to be ignored. 

Cycling is regarded as one of the best ways to stay away from lifestyle conditions and reduce the risks associated with a sedentary lifestyle. Additionally, it is one of the cheapest, enjoyable, and useful physical workouts. If you are still unsure about the benefits of daily cycling, here are the health benefits of regular cycling:

• Fewer chances of injury: Cycling hardly causes any strain and can be enjoyed by people of all age groups. There are minimum chances of injuries while cycling, as compared to other forms of exercise.
• Time-efficient: Cycling is one of the most time-efficient exercises you can engage in. Not only does it offer you several health benefits, but it can also be used as a means of transport. It will help you get rid of your inactive lifestyle and save your travelling expenses as well.
• Easy to learn: Even if you do not know how to cycle, it will only take you a few hours to get the hang of it. There is no need for strong physical skills, and it does not need a lot of practice to learn it; it is one of the easiest exercises to learn. You can start from low-intensity mode and increase as you get used to it.
• Boosts your stamina: Cycling engages several muscles in your body and thereby helps boost your stamina over time. It also improves your lower body strength as well as aerobic fitness. 
• Reduces stress levels: Going for cycling in the morning helps you come closer to nature. The fresh morning air acts as stress-buster and enables you to feel relaxed and rejuvenated. 
• Freedom from obesity: Cycling is one of the most useful workouts to help you get rid of excess fat from your body. It boosts the metabolism rate and helps build muscles. Within a few weeks of cycling, you would start witnessing a reduction in your weight; and would feel active and fit.
• Reduces the risk of specific cancers: Research has proven that regular cycling reduces the risk of various types of cancers such as breast cancer, colon cancer, and bowel cancer.

With various health benefits on offer, cycling is undoubtedly one of the most useful forms of physical exercises available. To enjoy good health and freedom from health-related stress, it is essential that you eat a healthy diet, engage in regular physical activity, and subscribe to the best health insurance policy in India.

Financial security is a priority for any family and having health insurance is one of the first steps towards keeping your family secure during health emergencies. But, what about other emergencies which are beyond the coverage of any health insurance policy?

Zeenat, a single parent of a 6-year-old daughter, takes as many precautions for her daughter's well being as she can. She has saved enough for daughter’s future in forms of fixed deposits and mutual funds. She has also taken health insurance for both to secure against any health emergencies. The planning seems perfect for a family of two people except for a loophole, not having an accident cover that could put all in vain if something goes wrong.

According to a report by the TOI, In India alone, about 1.49 lakh people lost their lives by road accidents in 2018. Personal accident insurance is an answer to such life-threatening situations, as a family gets shattered just by the news of an accident, let alone the future consequences that might bring substantial financial burden. However, before you go for a personal accident insurance plan, here are some things that you must know:

1. What is personal accident insurance?

A personal accident insurance policy gives you a cover against accidents. It could be a road accident, a sudden fall, or any situation that leads to a disability or even death. Having personal accident insurance will save your expenses during such an emergency, and the insured amount would also take care of the loss of income that occurred during this period.

2. What does a personal accident insurance plan offer you?

Personal accident insurance generally envelops accidental death, permanent total disablement, permanent partial disablement and temporary total disablement.

But one thing that worries a person is what if the medical expense goes beyond what his policy can cover? With Magma HDI's Individual Accident Policy cover, a person can opt for Medical Expense Extension and Hospital Confinement Allowance.

3. What does the personal accident policy not cover?

It does not cover natural death due to drug addiction or alcoholism, adventurous sport, a breach of law with criminal intent, suicide-attempt, pregnancy, war, civil war, invasion, act of foreign enemies, revolution, insurrection or mutiny, pregnancy, participation in any naval, military or air force operations, curative treatments or interventions.

4. What is the need for personal accident insurance?

The need arises from the gap that health insurance and a life insurance policy will not cover. While, health insurance mainly covers the severe ailments and any other health emergencies, a life insurance policy pays compensation only in case of death. A personal accident insurance policy, on the other, is equally important for your insurance portfolio, which covers the policyholder in case of hospitalization or even in case of death due to an accident.

5. What is the ideal personal accident insurance?

The ideal personal accident insurance depends on individual exposure to situations and risks. For example, if your profession requires extensive travel, opt a plan that covers your international travel.

Go for the best personal accident insurance plan that ensures the maximum coverage and financial stability in the event of any accident.

Medical facilities in India have now achieved the status of being “world-class,” allowing the people of country with access to best treatment within the country. This improvement in facilities has come along with a substantial increase in medical expenses. As a result, purchasing health insurance in India has become a necessity because covering medical expenses from your own pocket has become virtually impossible. In fact, if your parents are in their older years, you must opt for health insurance in india for parents  to allow them access to best-in-class treatment for their ailments, without jeopardising their financial future. Due to the efforts of the Government and leading insurance companies, awareness regarding health insurance has improved significantly in India.

With multiple insurance companies operating in India and offering various health insurance plans, it is certainly possible that you are confused regarding the best option. If you are unsure regarding the best policy for you, then read on to know about the easy ways to choose affordable health insurance:

• Understand your requirement: Firstly, understand the extent of coverage you require. This will depend on numerous factors like your age, family size, premium affordability, and future health requirements. Moreover, if your parents do not have a health cover, then you must get health insurance in India for parents. Also, there are various additional covers available, which can come handy in case of certain conditions.
• Coverage for ailments: Nowadays, there are several health insurance policies that offer coverage for specific critical illnesses. You need to ascertain the type of diseases you wish to cover under your health insurance policy before opting for an option.
• Coverage for pre-existing ailments: Different health insurance policies offer different waiting period for pre-existing illnesses. You need to identify a plan that has a minimum waiting period. This will save you from unexpected hospitalisation expenses in case you need treatment for the ailment before the completion of the waiting period.
• Claim-settlement ratio: This ratio signifies the percentage of claims that the insurer settles out of every 100 claims received. You need to opt for an insurer with the highest claim settlement ratio so that your claim would not be rejected for any frivolous reason.
• Cashless hospitalisation: Different insurance companies have agreements with different TPAs (Third Party Administrators). These different TPAs have different hospitals on their panel. You should opt for an insurer who offers maximum hospitals for cashless treatment. Moreover, the hospitals near your home should be covered under the panel of the TPA, as it would convenient for you in the need of emergency.
• Compare the premiums: Last but not the least, make it a point to compare the premiums of different insurance companies. For the same extent of coverage, different insurance companies charge different premiums. Nevertheless, there are various plans that offer cheaper premium but also have reduced coverage. There are various online platforms where you can easily compare various health insurance plans, their coverage, and other essential parameters.

The importance of choosing the right health insurance plan cannot be neglected as it is directly associated with your health. So, never rush but always make an informed decision after carefully comparing various crucial factors affecting your health plan.

Ayurveda is not just about natural herbs and spices and consuming them raw. It is more about how you can boost your immune system and increase the efficiency of your organs to energise your bodily functions. Unlike the traditional methods of human living, Ayurveda emphasises ramping up your everyday lifestyle by prioritising your mental and physical health remain in check. It helps you in achieving the true meaning of “health is wealth” without distinguishing between the value of the mind and the body.

Are you looking for more information on how Ayurveda would help you change your lifestyle for the better? This blog will help you gain a positive outlook on this old Hindu system incorporated into the Atharva Vedas, the last of the four main Vedas in history. So, let’s get started.

1. Early to rise:
We all have read “early to bed and early to rise makes a man healthy, wealthy and wise”. The same has been repeatedly told to us by our parents and every adult you might have encountered. Well, Ayurveda reaffirms the truth in this statement. It states that the morning is the freshest and the purest time slot of the entire day, which can be super productive if appropriately utilised.
Waking up around 4:30 AM-5:00 AM daily will help you achieve positivity and a more robust and healthier outlook on life. It will also regulate your bodily functions and give you a headstart to the day compared to others who groggily wake up late.

2. Pay attention to your eating habits:
Ayurveda instructs that you practice a healthy habit of eating and calls it “ayurvedic eating,” which involves the importance of consuming natural and green vegetables and fruits.
It mentions the negative impacts of junk food and how essential it is to avoid such oily items loaded with unwanted carbohydrates and fats, which are difficult to break down and get deposited in your body. This leads to several major diseases which can potentially endanger your health in the long run.

3. A morning refreshing drink goes a long way:
We all have heard that consuming water with a few drops of honey in the morning helps rejuvenate your body as you begin your day. Add a teaspoon of quality honey in half to one glass of water and consume it as you wake up. This helps eliminate all the toxins in your body, and this mixture also helps kill several types of harmful bacteria.

4. Pay attention to your sleep:
After an entire day of work and other activities, your body and brain get exhausted. And to re-energise and detoxify all the tiredness, you need to sleep a good eight hours. Sleeping properly boosts your health and strengthens your immune system. It also helps in proper blood circulation, thus providing you with sufficient energy to function throughout the next day and take on the challenges the day presents you with.

Other Ayurvedic practices include walking. It is considered one of the best exercises one can do at their own pace without exhausting themselves for hours at the gym and taking additional supplements. Creating a routine and sticking to it has been given a lot of importance in Ayurveda. Your body functions better as it slowly gets habituated, thus providing a structure to your day instead of just letting you wonder how to go about processing and working on multiple things.

We are all aware of how unpredictable life can be as we face the pandemic and extreme situations. To battle the uncertainties of life, we must have some assurance that does not land us in financial stress. It would be best to get general insurance to combat health issues and not lose money on your assets. Explore the options provided by the best General Insurance companies in India, and buy a reliable health insurance plan. This will give you the confidence to lead a healthy life where health expenses don’t feel a burden!

Click HERE to learn more about the insurance benefits of various insurance benefits of various general insurance companies in India.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Building a property from scratch can be a time-taking and intimidating process. Whether commercial or private property, the construction cost can burn a hole in your pocket. This is precisely why property insurance becomes necessary to protect you, your family, and your assets from any unforeseen tragedies that might occur.

Property insurance provides cover for various misfortunes, including but not limited to fire, natural calamities, or robbery. However, choosing an insurance specific to your asset type is vital for the best coverage and benefits. This blog gives insight into the various types of property insurance available in the market based on your asset type.

1. Office insurance:
Office insurance is essential for all office premises, including public and private offices, call centres, etc. This insurance plan covers office owners against damages from unforeseen circumstances like fires, storms, lightning, hurricanes, cyclones, etc. This policy also covers other possible threats, such as the theft of office appliances.

2. Construction sites insurance:
Construction sites are places with a high probability of accidents. The misfortune of contractors is that the property remains their liability till the entire construction is completed and the property is handed over to someone. Whether it is due to bad weather or some water damage, it is a possibility that the building might collapse onto itself. It is essential to get construction site insurance to keep your assets secure against these occurrences.

3. Commercial insurance:
This insurance covers the policyholder from the losses incurred from destroying commercial properties such as warehouses, offices, factories, hotels, etc. Taking a suitable commercial insurance policy can be the best investment for business owners to safeguard themselves from the enormous losses faced by man-made or natural calamities.

4. Landlord insurance:
Landlord insurance is much like the homeowner’s insurance with one significant addition. The addition is the compensation of lost rental income, which is not covered by any other policy.

5. Renter’s insurance:
Tenants are usually in a dilemma regarding the safety of their belongings in rented accommodation. If their prized possessions are stolen, or there is some natural calamity that results in the tenant incurring losses, there is no way that the homeowner will pay for it.
So, the best option for tenants is to get insurance that covers all their belongings. Renter’s insurance is very similar to the homeowner insurance policy. One significant difference is, however, that this policy is exclusively meant to recover financial losses sustained by the policyholder if their belongings (can include clothes, jewellery, and appliances around the house) are damaged because of man-made or natural calamities.

6. Homeowners insurance:
Homeowners insurance or HOME INSURANCE is the most widely acquired type of property insurance. This is for a good reason. A home is a significant investment, and it is imperative to be secure against the various misfortunes that might befall it.

An appropriate home insurance covers all the financial losses the homeowner might incur in the event of any significant damage due to an accident or mishaps like burglary. Additionally, it also covers any possessions that have been destroyed in the mishap.

Our home is the greatest property asset, and safeguarding it from potential damages should be our primary objective. Having the most suitable home insurance is a surefire way of protecting from financial mishaps and adding the safety net of damage coverage.

Property insurance gives the property owner security and credibility, which is important for peace of mind and financial safety. Thoroughly researching the best insurance policy is essential to have the optimum coverage for your assets.

Click HERE to know more about home insurance.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Exploring the novelties and embarking on new adventures is what travelling is all about. From dingy roadside motels to premium five-star hotels, travel experiences make you more confident and better prepared for everything. To some people, it is a much-needed respite from the mundane routine of everyday life; for others, it is a way of life. Some people believe in setting aside a part of their earnings for annual family trips, while others earn to travel. Common among all these lifestyle choices is the desire to explore newness and the different versions of the planet.

There are multiple ways in which you can explore a city. You can accompany a tour group, walk around, and indulge in local life. But, in this article, we will discuss why public transport is the best way for you to enjoy your vacation.

1. Closer to the local life:
Cabs and rentals will ensure an easy commute, but if you want to indulge in the lifestyle of the locals, using public transport is a must. The locals frequently use public transport to carry out their day-to-day chores. Interacting with them will not only help you gain a better insight into the culture of the place, but it will also help you figure out where the untouched locations are. Many local restaurants and establishments are unexplored by the tourism industry. Local knowledge about these will help you explore the unexplored.

2. Cheaper:
People often complain about being scammed by taxi services and other car rentals. However, with public transport, you can avoid being scammed altogether. Since locals frequent this mode of transportation, they can't charge you extra. Some governments facilitate subsidised public transport rates, so the overall cost of your daily commute becomes considerably inexpensive.

3. Time to relax:
If you intend to book a car for yourself, be prepared to stress out about directions constantly. You might also be stuck in long traffic jams if you decide on exploring the city. Opt for public transport like trains to escape heavy traffic and the tiresome drive. During your commute, you can either look out of the window and enjoy the views or catch a nap before reaching your next location. This small break will help you be rejuvenated for the next part of your trip.

4. Personal health:
Public transport is a boon for you if you are a fitness enthusiast and cannot squeeze in the time for your workout in your jam-packed itinerary. Opting for public transport indicates that you will need to walk between stops, stations, or ports, depending upon the location and the type of transport. Not only does it prompt you to walk more, but it also helps you build an appetite so that you can eat more of the local cuisines guilt-free.

5. Responsible towards environment:
Public transport saves a considerable amount of fuel as compared to personal vehicles. The stark increase in carbon dioxide emissions has resulted in a rapid rise in global temperatures. Opting for public transport is a small contribution you can make to the environment and a better future.

These are a few reasons why public transport is the best option for you while travelling. Interact with the locals and explore the city's novelties while taking public transport. Remember that no trip is complete without travel insurance. Any risks you can incur during your vacation, including theft, financial losses, injuries, etc., will be taken care of by an insurance policy. To protect yourself and your family against such expenses, do not forget to buy insurance policy online. You can compare multiple policies, analyse their benefits and premiums, and choose from several online options.

Click HERE to buy insurance policy online.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.