General Insurance : Cover every day risk
At times, you might end up facing some unexpected losses for which you were completely unaware. Nothing would work except a security system that backs us. In other words, we need an insurance cover.
unlike term cover which addresses life risk ,general insurance protects assets and health .
How its works :-
◊You pay a premium annually or monthly .
◊In case of an approved claim insurer pays the covered cost.
◊Prevent unexpected expenses for descripting your regular cash flow.
What are the different types of Insurance ?
There is a distinction between the types of insurance one is life insurance and other is non-life or general insurance. The reimbursement under the life insurance policy can be claimed in the event of death or maturity of the policy.
On the other hand, a General Insurance Policy will pay for the losses that may occur during the policy period only
Medical Insurance
Medical Insurance: Essential for Every Family
With increasing healthcare costs, medical protection is no longer optional. People are now
combining SIP with medical coverage to manage sudden expenses smoothly. While mutual
fund manage growth, medical insurance ensures that emergencies don’t disrupt financial
balance. Investors should get clarity on following aspects before investing and buying health
insurance.
How to save money effectively
Passive income strategies to meet urgent requirements ( Jobless periods/ no income
periods)
Systematic investment plan for emergency needs
What Are The Benefits Of A Medical Insurance Policy ?
56% of Indians still do not have or have inadequate medical insurance cover. Due to the same they spend out of pocket from their monthly income or savings on availing medical services, which hinders the social and economic development of the country. In fact, as per data provided by the Public Medical Foundation of India (PHFI) out-of-pocket medical expenses drove 55 million Indians into poverty in 2017, and of these, 38 million (69%) were impoverished by expenditure on medicines alone. The importance of having a medical insurance policy can not be emphasized enough, especially given the rising cost of availing medicalcare and the crippling impact a disease can have on your finances and future. There are a range of benefits offered by medical insurance policies due to which you should opt for them.
Motor Insurance
Motor Insurance + Mutual Fund Insights
For vehicle owners, motor insurance acts as the first layer of security. Paired with insights from
tools like FD calculator, Fixed deposit interest rates, or SWP calculator, users often plan their
premiums alongside their income flow. Yearly systematic withdrawal plan in mutual funds is a
trending option to manage premium payments without stress. Understanding of
Motor insurance with flexible premium payment options
FD vs mutual fund for saving premiums
How to balance insurance with investment tools
Becomes critical for investors looking for stress free payments of premiums of motor insurance.
Offers a financial cushion in the event of a mishap
Motor insurance offers you a financial cushion in case your vehicle is damaged due to accident, earthquake, lightning, floods, etc. Note that getting your vehicle in shape post these events can cost a lot of money. However, things are different with a motor insurance plan.
Also, vehicle insurance reimburses expenses incurred in case you suffer bodily injuries because of an accident. In other words, it compensates for hospitalisation expenses due to an accident involving your vehicle.
Takes care of third-party liability
This is another reason as to why vehicle insurance is important. It takes care of third-party liability arising due to damages suffered by a third party involving your vehicle.
To put it otherwise, your insurer pays for the treatment incurred by a third-party, thus protecting you from legal litigations.
Mandatory by law
Any vehicle running on Indian roads has to have motor insurance, especially third-party liability cover. Not having insurance cover can led to a severe penalty. On the other hand, having a motor insurance gives you the peace of mind as you know you have a back up in case your vehicle sustains damages of any kind.