Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured. Insurance policies are used to hedge against the risk of financial losses, both big and small, that may result from damage to the insured or her property, or from liability for damage or injury caused to a third party. Insurance helps provide a secure financial option to you in case something goes wrong or an unfortunate event takes place that puts a massive financial burden on you that you cannot bear by yourself. Your insurer will then cover the costs for you for which you have been paying him premiums up to the date of the event. Insurance is important as it helps you shed your worries and stress as any untoward incidence is already covered by your insurer and anything that can happen will not hamper your lifestyle or severely impact your financial situation.
Insurance sector contributes its fair share to the Indian economy. As insurance sector grows, our economy also grows exponentially. The bridge of growth has become wider now. The insurance sector is growing faster than the Indian economy. It means that more people are buying health insurance policies thanks to the increased insurance awareness. A health […]
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Senior citizens above the age of 60 might be more susceptible to health risks than ever. That is why buying potential health insurance is significant to ensure good health and proper treatment without any financial worries. Health insurance for senior citizens is thus a medical insurance policy that provides cashless hospitalization cover, takes care of […]
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Adversities come without knocking; the biggest example of this is the coronavirus pandemic. Therefore, irrespective of your current health status, it is important to stay covered under a medical insurance plan to keep your health and finances safe. Once you catch hold of any critical disease, you might have to spend all your savings on […]
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Medicare comes with many advantages. But, with its number of components, a Medicare policy can become more confusing for some. There are even individuals who aren’t aware that if they reach a certain age or disability criteria, their eligibility for Medicare automatically applies to some of its parts. This is an ongoing issue for many […]
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In recent years, the life insurance industry has undergone major changes. Gone are the days where life insurance meant typical endowment covers. With time, varied options have emerged with a broad range of features. Nowadays, online term insurance is gaining popularity. Plans such as money back policy, standard life cover, or pension insurance with consistent […]
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We are now a year into the Covid-19 pandemic, and it has given us a big insight on why health insurance is a must-have product. Health issues can be unexpected and create a huge financial strain for individuals and families. It is of utmost importance to get a health insurance plan that is mindful of […]
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Rahul owned a fleet of buses that carried passengers from one stop to another. It was his way to earn bread and butter. But on a sad day, one of his buses met with an accident. There were some passengers injured, and a few died along with the driver. The bus also got damaged. Rahul […]
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If there is one thing that the Coronavirus has taught us this year, it is – Life is uncertain. Should something happen to the breadwinner of the family suddenly, then the financially dependent members may suffer a massive monetary crisis in their absence. This is when term life insurance comes into the picture and helps […]
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Ever since 2003, plenty of insurance brokers have entered the insurance industry in India and pushed it to great heights. The insurance business sector has always been highly profitable and risk free. Here are some statistics proving the same: The gross insurance premiums collected in the FY 2019 summed at a whopping INR 962.05 billion, […]
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It goes without saying that the current generation is addicted to their phones. Everybody wants to use and flash the best smartphone models. The craze of smartphones has reached a level where people might not be able to deal with the loss of their phones. High-tech models with the best of facilities and features come […]
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