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Motor insurance add ons can help you safeguard your car's valuables at little extra cost
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One of the biggest drawbacks of having just a group insurance plan is the seriously limited choice of the doctors and specialist network you can avail services from. Any professionals out of this list might not be covered by the policy.
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On surrendering the policy, the policyholder gets a part of the premium paid, which is called the surrender value. In premature closure of the insurance policy, the policyholder has to bear the loss.
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People mistake travel insurance for accident insurance and tend to overlook it. Domestic travel insurance covers various incidents, ranging from medical emergencies to loss or theft of belongings.
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It is necessary to renew your motor insurance policy before it expires. In the event of an accident, a hefty fine will also have to be paid from your own pocket. Non payment of premium of the motor policy also means losing out on the no claim bonus discount.
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It is well known that term plans have the cheapest premium payable. In contrast, premiums payable under a TROP are twice or thrice of this figure.
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43% of people have not yet bought health insurance policies in India!
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After the Coronavirus pandemic, people have understood the importance of health insurance well. Still, 43 percent of people in the country have not bought health insurance policies.
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If you do not make any claim, then, you will get a discount of 50 percent on the premium. NCB's benefit is available only in the form of a discount on own-damage policy premium.
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The government will have to curb the cost of treatment in private hospitals. This can reduce health insurance rates.
