Insurance encourages savings by reducing your expenses in the long run. You can avoid out of pocket payments for unfortunate events like medical ailments, loss of your vehicles, accidents and more. It is also a great tax saving tool that helps you reduce your tax burden, be it individual or a company.
Motor Insurance safeguards your vehicle against any financial loss that may occur in case of an accident or any event unfortunate. It is a contract between the vehicle owner and the insurance company for protecting the interest of the policyholder against monetary loss due to vehicle damage.
The roads are uncertain and keeping this in mind, vehicle insurance has been made mandatory in India. Owning a vehicle is exciting but it is also important to keep it secured with insurance given the rise of vehicles on the roads and accidents as well. A motor insurance policy comes to rescue when and lowers the cost of damage or repair significantly.
There are two types of Motor Insurances:
Health Insurance is a medical insurance policy that offers financial coverage for medical expenses when the policyholder is hospitalised. The health insurance plan ensures cashless treatment, reimburse of medical expenses & day-care hospitalisation. Moreover, health insurance cost is subsidized to the policy holder in form of tax exemption under section 80D of Income Tax Act,1961 Different Types of Health Insurance Plans are as listed below:
Life insurance plans are characterised by the fact that they pay a benefit on death of the insured. The most popular plans have a fixed period of time for which the policy is in force, and death benefit will be paid. Term Life, Endowment, ULIPs, Pension Plans, and Child Plans all have fixed terms. On the other hand, Whole Life Plans offer cover for the entire lifetime.
Transit insurance provides a policy that includes compensation against common perils that might cause damage to the items that are being transported.
There are two types of Transit Insurances :
Personal Accident Insurance offers financial compensation in the event of bodily injuries leading to total/partial disability or death caused due to accidents. This policy ensures the financial stability of an individual and his family if he/she gets injured or unfortunately dies in an accident.
Different Types of Accident Insurance Plans are as listed below:
The portfolio is a collection of investment instruments like shares, mutual funds, bonds, FDs and other cash equivalents, etc. Portfolio management is the art of selecting the right investment tools in the right proportion to generate optimum returns with a balance of risk from the investment made.
Health Insurance is a medical insurance policy that offers financial coverage for medical expenses when the policyholder is hospitalised. The health insurance plan ensures cashless treatment, reimburse of medical expenses & day-care hospitalisation. Moreover, health insurance cost is subsidized to the policy holder in form of tax exemption under section 80D of Income Tax Act,1961 Different Types of Health Insurance Plans are as listed below:
