Travel Insurance – Is it Worth Consideration?

Travel insurance, also termed as travel medical insurance is an insurance scheme offering cover against all kinds of unexpected incidents while traveling, such as accident, baggage loss, trip cancellation, loss of passport, medical aid expenses and other risks encountered while traveling.

If you are traveling internationally, then travel insurance becomes the need of the time, but even if you are traveling domestic routes, still such insurance can offer you with great benefits. This sort of insurance is easy in the pocket, and you may even have to pay a premium as less as INR 130 per month. If paying such sum can minimize all your risks related to traveling, then there is no reason why you should not go for it.

Some key benefits that you can avail through travel insurance are:

• It covers all medical expenses incurred during your trip. You have protection against any illness, injury or unexpected incidents that may come in the way of your travel without experiencing any financial contingency.
• It offers complete financial protection against accidental death, dismemberment, and disability.
• It enables you to make up for all sorts of financial loss that you might suffer during your travel or if your belongings are stolen or lost.
• It reimburses all your prepaid expenses on bookings and tickets.
• If you experience any emergency situation, such as loss of cash, then the insurance providers can offer you with the adequate rescue.
• Under the feature of emergency medical evacuation, you can obtain a transfer to seek immediate care in case of an emergency situation.
• If there is any cancellation or delay of your trip, then your travel insurance cover would reimburse you for all sorts of prepaid expenses on bookings and tickets.
• The insurance cover offers 24 x 7 support during your entire trip.

Buying Travel Insurance

 

Besides offering the above benefits, the other convenience about travel insurance is that it can be purchased with ease. Numerous companies across regions offer domestic and international travel policy. The domestic travel insurance offers protection against issues experienced during a set geographical region. On the other hand, international insurance is ideal if you are traveling any foreign nation. So, based on your needs you can select a policy. Some insurance companies even offer you the ease to upgrade your policy as per your requirements.

The basic eligibility to buy a travel cover is between 6 months to 65 years, which may vary slightly from region and plan. The coverage offered depends on the cover plan that you select, your medical condition, the length of the trip, and the region you are traveling to. 

Buying travel insurance makes sense if you wish to avail complete security for you and your family members. You can even buy travel insurance online after comparing all plans offered by various insurance companies. No travel plan offers 100% safety, but having a policy in hand can surely reduce the level of risks that you might experience during your travel.

5 reasons to buy Aditya Birla Health Insurance Plans

There’s never just one reason to buy a health plan for Aditya Birla Health Insurance – there are 5!

Getting health insurance coverage is an easy process – but only if you approach the right insurance provider. A health insurance provider like Aditya Birla Health Insurance not only offers the best health policies, but also a smooth purchase and claims settlement process. 

Here’s why you should buy health insurance plans from Aditya Birla Health:

1. The highest sum assured in its class. Normally, customers do not opt for a very high sum assured amount because they fear that the corresponding premium will be quite high. But that’s not the case with the health insurance plans from Aditya Birla Health Insurance. The Activ Health Enhanced policy carries a sum insured as high as Rs 2 crore, while the Activ Health Essential policy has a sum insured of Rs 10 lakh. Plus, the plans are completely affordable and comprehensive, covering all aspects of treatment and hospitalisation.
2. Flexible and simple. Aditya Birla Health Insurance does not believe in jargon and unnecessarily complicating the policy with too many riders and deductibles. What you get are plans that are simple enough to understand, and they are extremely simple to purchase. The health plans themselves offer a great deal of flexibility – customers can ask for the features and riders that they actually need, instead of accepting the plan as is. Thus, there is a fair bit of customisation in the health plan.
3. Innovative features. What sets Aditya Birla Health Insurance apart from other health insurance plans is its vision for health care – it offers a holistic view of health, and not just monetary support in times of distress. Thus, it has conceived of such innovations as wellness and reward programmes to help customers maintain good fitness all their lives. Customers also get reward points for completing set tasks (which are fitness and health-related). Additionally, the Aditya Birla Health blog gives many tips and perspectives on diet, physical and mental fitness, and exercise.
4. Complete digital access. We turn to our smartphones for everything – right from checking the meaning of a phrase to watching a new TV show. So why not make the smartphone or personal computer one’s health companion? Aditya Birla Health Insurance’s vision for the digital age is that all health insurance-related data must be available for customers’ consideration instantly and conveniently. Hence, all insurance-related specifics, as also all fitness tracking information is available on the smartphone or tab/laptop.
5. Comprehensive coverage that others don’t provide. While other health insurance plans dither on offering coverage for pre-existing diseases such as hypertension and diabetes, Aditya Birla Health Insurance offers Day 1 coverage for pre-existing conditions. So customers need not wait to get coverage and hence, treatment for the same.

5 Simple Things to Remember for Stress-Free Driving

According to an article published in The Hindustan Times on November 16, 2016, a woman allegedly mowed down two people on a highway in Haryana in a case of drunken driving. Unfortunately, this is just a single case of drunk driving in a country that sees such occurrences almost everyday. The lady was taken into custody and an FIR was registered in the case. In most cases, such drivers do not have proper auto insurance, making the financial situation worse for them.

Every person needs to take certain pledges and make simple changes for stress-free driving, including not to drink before or while driving and to ensure that your vehicle insurance is always updated.

Simple Things You Need to Remember While Driving

1. Avoid Racing - It's quite normal to have an adrenaline rush by putting the pedal to the metal, racing that red light, or riding someone’s bumper. However, it is your duty to remind yourself that such behaviour is acceptable only on the race track! Such an adrenaline rush can have very harmful consequences on the road. 
2. Stop Being a Time Machine - Did you ever feel determined to make up for lost time when you are behind schedule? When we take over our vehicle, we cannot predict the traffic, weather or the lights, which could cause a serious delay in the schedule. However, it not wise to weave and veer and try to rush to your destination. Start early, giving yourself a bit of extra time for some unpredicted traffic delays. 
3. Don't Tailgate - While driving, you should leave plenty of room between yourself and the driver in front of you, to avoid tailgating, which is one of the biggest causes of accidents. Providing safety to your life, this will surely guarantee a less stressful ride and enough time to apply the brakes when needed. 
4. Say No to Cell Phones Behind the Steering Wheels - Unfortunately, while it  is banned to use the mobile phone while driving, we don’t hesitate to take a call or check a text without pulling over to the side. Research shows that a driver’s reaction times while on the cell phone are similar to reaction times of people with high blood alcohol levels. It is always better to pull over if you need to take a call. 
5. Forgive the Stupidity of Others - Yes, our Indian roads are full of people doing stupid things on the road that risks their own life as well as those of others, such as running across a busy street or weaving through fast moving traffic. Defensive driving is the best we can hope for in the country. So, always be alert for others making mistakes, since they are bound to happen. Don’t let someone else’s dumb move ruin your day!

In addition to all of the above, make sure you have updated auto insurance in your car at all times!

Follow these simple steps to renew your car insurance online

You can renew your car insurance policy online within a few minutes, whether from home or when stuck in traffic or even when holidaying abroad.

As a car owner, you know that there are several things you need to do to keep your car in pristine condition. Not only must it be serviced regularly and used carefully, it must also be protected from damages and other mishaps. Driving carefully and never speeding or cutting across other cars and jaywalkers, are just some solutions to the issue. The real question is: Is your car protected by car insurance? 

And if it is, have you looked at your insurance policy lately?

Your needs as a car owner with insurance can change as the car ages. You might need more coverage or wish to add more benefits in the policy clauses. It is worthwhile to consider taking a policy that offers valuable add-ons at nominal rates, and also settles claims in just seven days from date of filing. 

The next step after taking the policy is to renew car insurance online. Renewing your policy online is the fastest way to get the job done: in just a few steps, and at your convenience, you can renew car insurance online. Leading insurance companies in India have transferred the gamut of their services online for customers’ increased convenience. While eliminating paperwork, this has brought customers in direct contact with their insurers.

You can renew your car insurance online in just a few easy steps, thus:

• Find the insurance renewal date and set a reminder. Your insurer will also inform you by email or SMS.
• Access the insurer’s web portal and look for the section titled ‘Car insurance’
• At the top of the page on the right hand side, you will find the fields ‘Buy’, ‘Renew’, ‘Report a claim’ and ‘Login’. Enter the field marked ‘Renew’.
• You will be prompted to enter your car policy number in the space provided.
• Check if the insurer has presented a correct snapshot of renewal premium and other details of your policy. If correct, proceed to pay online.
• Accept payment acknowledgement and await the receipt.

Renewing car insurance online is not just simple and convenient, it is better handled by the policy holder themselves. Entrusting the job to a broker ends in an additional expense to the customer (the insurer must pay processing charges to the broker, and this fee is passed on to the customer) and there is a chance of the broker filling out incorrect information. Besides, insurance companies can be requested for a call back in case the customer is confused about any aspect of renewal.

Life Insurance Plans: Offering Protection Against Death

Life is precious, more so because nobody knows when we are going to lose it! We may be enjoying time with our family one moment but may not be there the very next moment. This uncertainty throws up a vital question, what will happen to our family, our loved ones, after we are gone? Will they be able to live comfortably or will they struggle to carry on a normal life? It is to resolve such worries that one should always consider life insurance plans to secure the financial future of their family after their demise. 

The Amount Depends on Your Needs

While insurance cannot help replace your love for your family, it can certainly ensure that they do not have to suffer financially. However, it is important to remember that the monetary amount or sum assured will vary for different people, according to their age and responsibilities, and no single plan is perfect for everyone. 

The amount that you choose a policy for will depend on the current standard of living and the level desired for the family after your death. This requires consideration of the amount of assets you have and the sources of income available to your family in case of your untimely demise. Sources like cash in the bank or provident fund money may not be adequate to meet all the funding needs like education and marriage of your children, besides their day to day expenses. This gap between the available resources and the amount of funding required by your family after your death can be easily filled if you base your policy purchase decisions on careful thought. 

In India, life insurance plans can:

• Help your family survive a sudden loss of income
• Allow them to fund crucial goals, like college education or marriage expenses
• Live a normal life, without having to worry about funding the varied expenses

While deciding the amount to be bought, do remember to take into account not only your current income but also potential future income, goals for your children and family, and any other costs or liabilities that may come up in the future.

Knowing that the future of your family is secure even when you are no longer there to take care of them can give great peace of mind, besides allowing a person to enjoy life in the present. However just buying a policy is not enough. You should re-evaluate the financial needs of your family from time to time, especially at the time of major life events like marriage, the birth of a child, the purchase of a major item like a house, etc. This will help you decide whether you need to take additional policies or not. 

The good news is that with growing competition in the insurance sector in India, life insurance plans are as varied as the needs of the people in the country.

What to Consider When Buying Individual Life Insurance

Time seems to freeze when a loved one develops a serious illness and it’s normal to go through a tough emotional phase akin to grieving. But when death occurs in a family especially that of a breadwinner, there are severe financial implications and hardships in addition to the emotional trauma of losing someone. 

Individual Life Insurance Products Can Help in Your Worst Hour

According to data published by India Brand Equity Foundation, India’s life insurance sector is the biggest in the world, with about 360 million policies. Moreover, this is expected to expand at a phenomenal compounded annual growth rate (CAGR) of 12-15% over the next five years.

A life insurance policy is designed to ease life's uncertainties and difficulties. Such policy is a legal agreement between you and an insurance company that guarantees the payment of a death benefit to your chosen beneficiaries in exchange for the payment of premiums by you. The primary aim of a life insurance policy is to protect the surviving members of a family or other dependents against the loss of an individual’s income or services. To decide how much coverage is required, think about your family’s situation and how much would be required in your absence. 

Identify Your Family's Needs

When buying individual life insurance products, you need to arrive at an amount of money that you wish to be paid at the time of your demise. You would also need to name the person or persons, known as your “beneficiaries”, who would receive that money. You may also have the right to determine whether that money will be paid in a lump-sum or in a series of payments.

If you are married, you will want enough coverage to minimize your spouse’s financial needs as well as plan for your children’s future expenses, including college tuition and marriage.

Consider your annual living expenses as well as any mortgage on your home, personal or car loans, or property taxes. In such cases, you will need more cover than someone whose mortgages are fully paid off. If you do not want that your dependents to pay for your final expenses, such as hospital bills and costs associated with the last rites, ensure enough coverage beforehand.

Choosing a Company

Make sure that the insurer you are dealing with is a reputable one that will be around to protect your loved ones financially when the need arises. One important factor to consider in choosing an insurer is its financial strength. Make sure the company recognizes your financial needs and goals, and is committed to helping you meet them, by offering a wide range of life insurance plans, financial solutions and riders. 

Riders Available

Insurance companies offer riders with specific benefits, such as additional coverage against accident or disability. Riders need to be purchased separately from the basic policy. A number of riders are offered by life insurance companies, which add value to a policy. The common riders are:

• Family Income Benefit Rider: This traditional rider provides financial protection to your family in the event of your unfortunate demise. It protects the family against financial liabilities after the demise of the policyholder.

• Accidental Death and Total & Permanent Disability Benefit Rider: Accidents are common nowadays, and can impair an individual’s life and cause his death, affecting the family both emotionally and financially. This rider provides additional benefits to the insured in such an unfortunate event.

It is important for you to get only that much life insurance as you can afford to pay for in terms of premium. Opting for a life insurance products and then losing it because of your inability to pay the premiums would not be a great outcome.

Travel insurance: Do not make the mistake of not buying it!

Stepping out of the country without travel insurance can be a costly mistake.

Scores of people take foreign trips every year, with many of these journeys being holiday-related. It is easy enough to go on holiday these days – you can book your tickets online, look up good accommodation, shop for necessities and just get going.

There is one more thing that is easy to do – taking travel insurance in India. In fact, everybody – from the airlines to the tour operator you book your trip with – offers to sell you travel insurance. After understanding the bare details, people sign up for the plan that has the lowest premium.

This is a mistake. Taking travel insurance is not about seeking out the least expensive plan, but getting the most comprehensive one. There is no way to predict future problems on your trip – you are well aware of Murphy’s Law that states ‘Anything that can go wrong, will!’ You cannot tell for sure that you or a family member will not fall ill on the trip, or that the vehicle you travel in will not be rammed into by another car, or if a passing pickpocket will not flick your handbag. The point is, it pays to be safe on your holiday so that nothing can rob you of the joy of travelling to a new country and seeing the sights.

Buying a travel insurance policy in India is quite easy. You can easily do so online when you are buying it from reputed insurance providers. Travel insurance plans protect you against the costs of:

Illness on the trip: Eating unusual food, a change in weather, jet lag and being on the road can make you fall ill. Not only will your vacation time be spent going to a doctor, you will also spend a lot of money on expensive treatment. Instead, let your travel plan pay for the treatment.

Lost or stolen bags: Tourists are easy targets abroad, and incidents of mugging and theft are on the rise internationally. Your bag containing your passport, cash and travel documents may be stolen. Or it could be misplaced by the airlines. However, your travel plan reimburses you up to 50% of the value of the lost items in your bag. Also, it pays to duplicate your passport so you may continue your travel.

Flight delays/cancellations: Flight delays and cancellations can scupper your travel plans. There is also the question of getting new tickets at the last moment if the flight is cancelled altogether. But your travel policy can reimburse you for your old tickets if the flight is delayed by over 12 hours.

Accidental damages: In case you cause accidental damage to property, or injure another person on your travels, your travel insurance can settle third party liability claims. You might inadvertently cause damage to another person or property while abroad. Your overseas insurance can pay third party damages.