Category Archives: Insurance

Seven Tips to Follow Before Travelling Internationally

Be it your first trip or the hundredth one, it is always helpful to plan for an international travel beforehand. Here is the list of few things to keep in mind before travelling overseas.

Money:

The first and the foremost important thing to consider before travelling abroad is the foreign exchange. Getting your currency exchanged at the best possible rates and from a trusted broker is extremely vital. These days you can get it done online. Always remember to keep the receipt of your exchange handy while on a foreign land. Because there are good chances of you being asked for a proof of all foreign exchanges.

Transport:

Research well about the transport facilities of the country you are visiting. In some countries, there is a common tendency to loot people coming from abroad. Hire a personal guide if possible.

Healthcare:

Whether you are on a vacation or a business trip, there is a possibility of you falling sick. What will you do in such a situation? The best solution is to buy a travel insurance policy before leaving for the trip. Your travel plan will compensate for your medical expenses abroad. Moreover, your travel insurance company will provide you with on call assistance to help you find a good health care centre.

Important documents:

Do not forget to hang on to the very important documents including passport, visa, identity proof etc.

Safety:

When it comes to safety, your experience will vary from place to place. Unfortunately, some places do not have good security services. But it is still advised to report any unusual activity experienced to the local security officers.

Luggage:

The airline you choose to travel with, will provide you with a set of guidelines regarding luggage allowances. However, it is advised to pack light and smart.

Culture:

There are a lot of places in the world that do not allow smoking in public places. And a few Middle Eastern countries have dressing restrictions. Make sure you follow it all.

Five Reasons Why You Should Buy Health Insurance Immediately

Despite the rapidly inflating medical care costs, many people are still not covered under a medical insurance policy. Medical insurance not only covers your medical care costs but also provides several other benefits. Illnesses and accidents occur without any warning and can leave you emotionally and financially drained. A health insurance plan gives you the much-needed peace of mind to focus on your recovery rather than worrying about the expenses. Hence, it is only prudent to buy a health insurance plan as soon as possible. If you are still having second thoughts about buying health insurance, here are five reasons that will aid your decision.

Corporate health covers are not enough

Health insurance coverage provided by corporates do not provide adequate protection to cover all medical needs. Besides, when you retire from the company or switch to another company, the corporate insurance plan will not be valid. Hence, buying a separate health insurance plan is worthwhile.

health-insurance

Increasing incidences of health problems and diseases

The incidences of both lifestyles and infectious diseases are on the rise, one is bound to fall ill sooner or later. Hence, taking up an insurance policy is going to be beneficial eventually. Also, individuals who fall under the middle income and low-income group can avail top quality medical care services.

Avail tax benefits

Health insurance policy holders can avail tax benefits under the section 80D of the insurance Act. You can claim deductions for health insurance premium up to Rs25, 000 and senior citizens can claim up to 30,000.

health-insurance-and-the-health-care-system

Protection from critical illnesses

Treatment of critical illnesses such as cancer, stroke, paralysis and kidney failure, can be extremely expensive. By taking up a health insurance plan, you can protect yourself from the financial burden caused by the treatment of such illnesses.

Cashless facilities

Progressive health insurance companies offer cashless health insurance plans for its policy holders. Under cashless facility the insurance company makes the payment directly to the hospital, hence the policyholder does not have to pay anything out of his pocket.

 

Top 5 Questions to Ask Before You Buy Car Insurance

When it comes to buying a car insurance, most people prefer going by their friend’s advice or the insurance agent’s suggestion. This is probably the biggest mistake you can ever make. Just like you make careful considerations before buying a car, purchasing an insurance policy also requires equal efforts.
Different insurance companies have different rates. Additionally they also vary in the in aspects from coverage amount to claim settlement services. So, it is vital to carry out thorough research before making a purchase.
To help you grab the best car insurance deal, we have compiled a list of questions you should ask both your insurance agent and yourself to find the right cover.

hyundai0
What type of coverage do I need?
There are two types of coverage options, third party liability and comprehensive cover. The type of coverage you buy will depend on your needs. Third party liability is the cover that protects you against the damages caused to another party in case of accident and injury. This type of policy is mandatory in India.
Whereas, comprehensive cover provides full financial protection to you as well as the third party. Availing this type of policy is not mandatory but owner driver’s choice. A comprehensive cover will also give your personal accident cover up to RS 1 lakhs.
What is my risk taking capacity?
Risk assessment is done on number of factors such as car model, manufacturing year, location and your driving record. The more the risk, the more will be your insurance premium.
What all things are covered in my policy?
A comprehensive coverage will provide protection against damages caused to your vehicle in case of accidents. It will also cover your medical expenses, if you are suffering severe injuries. In short, the car insurance policy takes care of your financial soundness even in times of crisis.
In case, you share your vehicle with your family member then you will have to buy an additional coverage by paying extra premium.
How to cut out on extra costs?
There are number of ways that can lower your monthly premium costs. Some of them are listed below:
• Maintaining a safe driving record.
• Installing advanced security features in your vehicle.
• By asking your company which other discounts you are eligible for.
• By buying car insurance online.
What should be my deductibles?
Deductible is the amount you will have to pay until your insurance company starts paying for damages to your vehicle. It might be tempting to have a low deductible, but having a policy with higher deductible can significantly lower your premium pay-outs.