Securing Your Future, One Policy at a Time.
- Life Insurance
- Purpose: Provides financial security to your family in the event of your untimely demise.
- Types of Life Insurance:
- Term Life Insurance: Pure protection plan with no investment component.
- Whole Life Insurance: Provides coverage for your entire life along with a savings component.
- Endowment Plans: Combines insurance and savings; pays out a lump sum after a specified period or on death.
- ULIPs (Unit Linked Insurance Plans): Offers investment options alongside life coverage.
- Major Providers: Life Insurance Corporation of India (LIC), HDFC Life, ICICI Prudential Life, SBI Life, Bajaj Allianz Life.
- Health Insurance
- Purpose: Covers medical expenses including hospitalization, surgeries, and sometimes outpatient treatments.
- Types of Health Insurance:
- Individual Health Insurance: Covers a single individual.
- Family Floater Plans: Covers the entire family under one sum insured.
- Critical Illness Plans: Offers a lump sum payout upon diagnosis of specified critical illnesses.
- Recent Update: As of April 2024, the Insurance Regulatory and Development Authority of India (IRDAI) has removed the age limit for purchasing new health insurance policies.
- General Insurance
- Purpose: Provides protection for non-life assets such as vehicles, property, and travel.
- Types of General Insurance:
- Motor Insurance: Mandatory for vehicles; covers own damages and third-party liabilities.
- Home Insurance: Safeguards property against fire, theft, natural disasters, etc.
- Travel Insurance: Covers trip cancellations, medical emergencies abroad, and baggage loss.
- Fire Insurance: Offers specific coverage for damage due to fire-related incidents.