Services
Health Insurance
Health Insurance
Health insurance is a type of insurance coverage that pays for your medical expenses including hospitalization and critical illness. Health insurance reimburses the expenses incurred on medical treatment or illness directly to the hospital in cashless manner. There are different types of health insurance plans, such as individual health insurance, known as Mediclaim, family health insurance, critical illness insurance, etc. Purchasing a health insurance should be an integral part of your financial planning.
With the constant increasing prices of medical treatment and hospitalization and rapid rise in instances of diseases, today health Insurance is a must have necessity. While health risks and uncertainties are a part of life, one can be fully prepared for the financial aspect by buying health insurance. Payments made towards health insurance premiums are also eligible for tax deductions under section 80D of the Income Tax Act. Individuals up to 60 years of age can claim a deduction of up to Rs. 25,000 for the health insurance premium paid for themselves, or for their spouse or children. One can also claim another Rs. 50,000 as deduction if you buy health insurance for your parents aged 60 years and above
DISCLAIMER –
Insurance is the subject matter of the solicitation. While every effort has been made to ensure that the information given is correct, the author does not hold himself liable for any consequences, legal or otherwise, arising out of use of any such information.
Accidental Insurance
Accidental Insurance, also known as Personal Accident (PA) Insurance, offers financial compensation if you experience injury, disability, or death solely due to an accident. Unlike health insurance, it specifically focuses on the financial impact of unforeseen incidents.
What It Covers
This type of policy typically covers:
Accidental Death: A lump sum payout to your nominee if you die in an accident.
Permanent Total Disability (PTD): Compensation for complete and permanent loss of a body part or its function.
Permanent Partial Disability (PPD): A percentage of the sum insured for partial but permanent loss of function.
Temporary Total Disability (TTD): Weekly or monthly payments if you’re temporarily unable to work due to an accident.
Optional Benefits: Many policies offer add-ons like accidental hospitalization expenses, daily hospital allowances, and child education benefits.
Key Benefits
Direct Payout: Funds are paid directly to you or your beneficiaries, offering financial flexibility.
Complements Health Insurance: It covers costs like deductibles and lost income that health insurance might not.
Affordable Premiums: Generally less expensive than comprehensive life or health insurance.
No Medical Tests: Often no extensive medical exams are required to purchase.
Immediate Coverage: Protection usually starts right away.
Financial Security: Provides a crucial safety net for your family in case of a serious accident.
Who Needs It?
Accidental insurance is beneficial for almost everyone, especially those in high-risk jobs, frequent travelers, primary income earners, and individuals with active lifestyles.
Always review the policy’s exclusions to understand what isn’t covered.
DISCLAIMER –
Insurance is the subject matter of the solicitation. While every effort has been made to ensure that the information given is correct, the author does not hold himself liable for any consequences, legal or otherwise, arising out of use of any such information.