Free Press Journal

Health Insurance

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Health insurance is the insurance which protects from any health emergencies and incurred hospitalisation expenses. In this busy and hectic life everybody should have a health insurance policy which can be very useful in emergencies. Health insurance also known as mediclaim policy means medical policy which have the same meaning.

Why a mediclaim policy is needed?
• Every human suffers from some illness or injury in lifetime.
• Emergencies or illness can come anytime without giving any warning.
• Medical facilities are expensive in various hospitals.
• Doctor’s fees, diagnostic charges as well as the cost of medicines are too expensive.

mediclaim-policy


When should we take mediclaim policy?
Start young because the premium tends to increase with the age and insurance companies give ‘no claim bonus’ for every year in which no claim is taken against insurance policy. Also this policy comes with tax benefit of 80D of income tax.

Vehicle Insurance or Car Insurance
Motor insurance or vehicle insurance is all about protecting against financial losses arising out of vehicle usage. With the multifold rise in usage of four wheelers, motor insurance is also termed as car insurance or auto insurance. Auto insurance is one of the most common types of general insurance products.
Car insurance is mandatory by law and protects you and the people riding in your car from any legal claim or penalty made by a third party. Family members who may drive your car can also be covered through auto insurance. Your car insurance policy is the most important document in your vehicle. Along with comprehensive coverage against physical damage, bodily injury and cover against third-party liability, your motor insurance brings to you confidence and peace of mind.

Critical Insurance
A health insurance plan that covers critical illness means you can insure yourself against the risk of serious illness in much the same way as you insure your car and your house. It will give you the same security of knowing that a guaranteed cash amount will be paid if the unexpected happens and you are diagnosed with a critical illness.

Personal Accident Policy
Personal Accident Insurance policy gives complete financial protection against all accidental occurrences that might lead to death or bodily injury of the insured person. If the accident leads to the untimely death of the insured, this policy will provide complete financial security to the insured’s family members.
A Personal Accident Insurance policy covers you against death, permanent disability, permanent partial disability, and temporary total disability. For death and permanent disability – it pays you the total sum insured and for temporary disability it pays you a weekly compensation of around 1 per cent of sum insured per week, for 52 weeks.

difference-in-insurance

Standard Fire and Special Perils Policy
This is a package insurance which covers the following set of perils.

Perils covered:
• Fire
• Lightning
• Explosion / implosion
• Aircraft damage
• Riot, strike, malicious damage
• Storm, tempest, flood, inundation, hurricane, cyclone, typhoon and tornado
• Impact by any rail/ road vehicle or animal belonging to third parties
• Subsidence / landslide including rockslide
• Bursting and / or overflowing of water tanks, apparatus.
• Leakage from automatic sprinkler installation. Missile testing operation
• Pollution or contamination resulting from any of the above perils
• Any insured peril resulting from pollution and contamination
• Bush fire

Travel Insurance
Things may go wrong during your trip even after assiduous planning, for certain reasons that are beyond our reach.

Burglary insurance
The policy covers property contained in business premises, stocks owned, or for which insured is responsible or held in trust and/or commission. It also covers cash, valuables, securities kept in a locked safe or cash box in locked steel cupboard on specific request.

What does this policy cover?
This insurance covers loss or damage caused by:
• Burglary and theft (that is theft following upon an actual forcible and violent entry of and / or exit from the premises)
• Robbery in respect of contents of offices, warehouses, shops, among others and cash in safe or strong room and also damage caused to the premises