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Any unexpected situation in life can disturb the well-being of your family. For such scenarios, India has a variety of health, life, duration, and general insurance policies that provide comprehensive financial security to your loved ones and themselves. Additionally, you can opt for insurance cover to protect your property and assets. However, before buying an insurance policy, it is mandatory to understand different types of insurance policies and then choose people who align with your needs.
Insurance is a legal agreement between an individual and the insurance company, under which, the insurer promises to provide financial coverage (insurance amount) against contingencies for an amount (premium).
Unplanned expenses in life reveal the bitter truth. Even when you feel that you are financially safe, sudden or unexpected expenditure can greatly hamper this security. Depending on the extent of the emergency, such examples may also leave you debt-ridden.
While you cannot plan ahead for contingencies arising out of such incidents, insurance policies offer a glimpse of support to reduce financial liability from unforeseen events.
Health insurance or medical insurance is a type of general insurance that gives you protection against financial loss when you face a health condition or medical emergency due to a disease, illness, or even an accident.
This includes expenses incurred during annual health check-ups, psychiatric assistance, serious illnesses, and maternity-related expenses, as per your customized health insurance plan, prior to and after hospitalization.
Think of it that a friend who you know will always be there for you whenever you feel sick or even just feeling low.
After assessing the various types of health insurance available, you will be wondering why it is necessary for you and your loved ones to avail of such a scheme. Checkout the reasons listed below to understand why.
The primary advantage of such insurance is that it provides financial coverage against medical expenses.
If you want treatment in one of the hospitals that tie up with your insurance provider, you can avail cashless claim benefits. This facility ensures that all medical bills are settled directly between your insurer and the hospital.
One who pays health insurance premiums can enjoy income tax benefits. Under Section 80D of the Income Tax Act, one can avail of tax benefits up to Rs.1 Lakh on the premium payment of their health insurance policies.
Term insurance can continue to maintain your family's lifestyle by financing the day required for daily expenses and achieving your life goal even in your absence.
Term insurance is a pure life insurance product that provides financial security to the policyholder. In case of death of an insured person during the policy period, the beneficiary receives the death benefit defined under the selected term insurance plan.
As an earning member of your family, you are responsible for the overall well-being of your spouse, parents, and children. Buying term insurance is essential to ensure that you meet obligations for your loved ones, even if you are not around.
You may build a home, office, or property like vehicles through debt. With a term insurance plan on your behalf, you can ensure that a load of these loans will not cause any trouble to your loved ones after you.
The unfortunate demise of a breadwinner in a family can change their lives upside down, making it difficult to meet ends. Term insurance benefits, on the other hand, can make the lives of your loved ones easier in such a situation, albeit financially.
Uncertainties in life can or march our lives in an unprecedented way. This can be well understood in view of the current global coronavirus pandemic. What a term plan does best is that it makes us ready for such events. You can opt for an important life cover at an affordable premium under a term insurance plan.
Death benefits in lump sum amount for an affordable premium
Regular fixed income for a family with death benefits
Rising income for the family along with death benefits.
Refund of all premiums paid on maturity along with death benefit during the policy period.
Life covers for a group of people under a policy
Life insurance refers to a policy or cover whereby the policyholder can ensure financial freedom for his family members after death. Suppose you are the only earning member in your family who supports your spouse and children.
In such an incident, your death would devastate the entire family financially. Life insurance policies ensure that such a thing does not happen by providing financial assistance to your family in the event of your demise.
It is often the simplest thing that brings the most happiness in life. Why should life insurance be any different? We, in Aaditya Wealthon, constantly try to create solutions to make life insurance plans easier, cheaper, and more appropriate for every stage of our lives. Also, each day, we are working to make the claims process quick and simple for your family.
If you pay a life insurance premium, you are eligible for tax benefits in India under sections 80 (C) and 10 (10D) of the Income Tax Act. Thus, you can save enough money in the form of taxes by selecting the Life Insurance Scheme.
Since you need to pay the policy premium, buying such an insurance policy promotes the habit of saving money.
The policy ensures that the financial freedom of your family is maintained even after your death.
Some life insurance policies also act as investment options. For example, pension schemes offer lump sum payments as soon as they retire, which helps you fund your retirement.
Motor insurance refers to policies that provide financial assistance in the event of accidents involving your car or bike. Motor insurance can be availed for three categories of motorized vehicles, including:
Car Insurance - Individually owned four-wheelers are covered under such a policy.
Two-wheeler Insurance - Individually owned two-wheelers including bikes and scooters are covered under these schemes.
Commercial Vehicle Insurance - If you have a vehicle that is used commercially, you need to take advantage of insurance for it. These policies ensure that your business automobiles remain in the best sizes, thereby significantly reducing losses.
Cars and bikes are faster and more expensive with each passing day. At such times, living without proper insurance can cause serious monetary damage to the owner. There are some advantages of buying such a scheme listed below.
Prevents Legal Hassle - - helps you avoid any traffic fines and other legalities that you will otherwise need to bear.
All meet third-party liability - if you injure a person or damage someone's property during a vehicle accident, the insurance policy helps you effectively meet monetary losses.
Financial support for repairing your own vehicle - After accidents, you need to spend a lot of money on repairing your own vehicle. Insurance schemes limit pocket expenses in such a way that you can repair them immediately.
Theft/Loss cover - - If your vehicle is stolen, your insurance policy will help you recover a portion of the on-road price of the car/bike. You may expect similar assistance if your vehicle gets damaged beyond repair due to accidents
In addition, persons who have commercial cars/two-wheelers can also avail tax benefits if they pay a premium for that vehicle.
Your home is the comfortable place where your heart is, your memories are treasured and a place where you feel safe. While your happy home protects you, it also needs protection. If your home is damaged or your belongings are broken or stolen due to natural disasters, a home insurance scheme may be the protection you need to cover the cost. Whether you rent or own your apartment, if it's damaged or your luggage is broken or stolen, you can flee your hard-earned money by repairing the structure and chasing valuables. That's when you need a home insurance plan to cover the damage.
Get comprehensive coverage for both your home content and structure.
Secure every property you have from any accident by selecting the right property insurance scheme.
Buy home insurance policies at comparatively lower premium rates than other insurance policies.
In case of unforeseen circumstances, you have to reduce stress and stress levels to fall back on property insurance.
Timely home insurance payments-outs allow families to go through the reconstruction process quickly, helping them move on and go back to their normal daily lives.
Those who do not want to buy a comprehensive home insurance policy can buy a fire insurance plan that will provide cover against threats like fire etc. Nevertheless, you should not forget that the coverage offered by a comprehensive home insurance scheme is too high.
In addition, many house insurance companies also provide riders with temporary rehabilitation cover, loss of rent cover, dog insurance cover, etc.
It is not; The house insurance claim settlement process is hassle-free and quick in many cases.
Cyber insurance is an insurance product designed to help businesses prevent potentially devastating effects of cybercrimes such as distributed denial service (DDOS) attacks, malware, ransomware, or any other method used to compromise the network and sensitive data. Cyber risk insurance or cybersecurity insurance is also referred to as these products are personal to help a company reduce specific risks.
Identity Theft: : Your digital devices are a good reflection of who you are because they fix everything about you that is so true and raw. This includes your personal conversations, videos, text, photos, browser history, passwords, and bank details. Even in long-term relationships people usually avoid sharing phone and account passwords.
Cyber Stalking: Cyberstalking is a terrible fate we want no one to ever meet. It is the frequent use of digital communication to harass or scare a person. It's an attack and feels unsafe all the time, no matter where they are.
Malware Attack: Take a minute to think about the number of text messages you receive daily or the number you download as the Internet. The number is enough, isn't it?
IT Theft Loss: Banking transaction facility online and cyber theft are two sides of the same coin. You can continue to enjoy the good side as our cyber safe policy will cover you against the bad.
Phishing: Phishing is a new opportunity for fraudsters and thugs to cheat unsuspecting people. By masking as a trusted entity through electronic communication, there is often any attempt to get your sensitive information like username, password, and credit card details (and sometimes, indirectly, money) for malicious reasons.
Email Spoofing: Email spoofing is a counterfeiting or miss manipulation of e-mail headers so that the message appears to have originated from the actual source.
Media Liability Claim: Our personal cyber insurance will help you in the event of any liability arising from the unintended publication or broadcast of any digital content as a result of a cyber-attack on your personal or working computer system, including your digital devices.
Cyber Extortion: Cyber extortion is a threat to cause privacy violations, data violations, or cyber-attacks. It's scary compared to a real person holding a knife because online, people can hide behind the shield of anonymity and you can often feel unarmed.
● Privacy and data violations by third parties: Today, the Internet and your computer system are like a new era version of 'Dear Diary'. They contain a lot of your personal data - photos, videos, text, and much more - that you probably never want to see.