Life Insurance

To put it another way, life insurance is an agreement between an insurance company and an insured person where the insurance company promises to pay for the insured person’s final expenses, as well as investing and reaping the financial benefits as well, in exchange for a regular payment known as “Premium”.

Health Insurance

A contract between an insurance company and an insured person under which the insurer agrees to pay for the insured person’s medical and surgical expenses while the policy is in effect is known as a health insurance or medical insurance.

Car Insurance

Purchasing car insurance is a legal agreement in which the insurance company agrees to protect the policyholder from any financial harm that may befall him or her as the result of an unfortunate event involving the vehicle.

Investment Plan

An investment plan is a financial tool that aids investors in building long-term wealth and achieving their financial goals through systematic investment.

Term Insurance

The beneficiary of a term insurance policy is compensated in the event of the untimely death of the life assured during the term of the policy.

Guaranteed Return

Investors can use an investment plan to set up a long-term strategy for building wealth and achieving their financial objectives.

Child Savings

An investment plan is a financial tool that aids investors in building long-term wealth and achieving their financial goals through systematic investment.

Retirement Managerment

An investment plan is a financial tool that assists investors in building long-term wealth and achieving their financial goals through systematic investment.

Insurance in Chandigarh

We are your trusted independent insurance agency. And… because we’re independent, our priority is you — not the insurance company. We represent many different insurance companies but our goal is to deliver the right blend of price, coverage and service. We’re your trusted partner in ensuring your financial security and quality of life are secure. We help you make smart decisions by protecting you from the unexpected.

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Insurance is a contract which is presented as a policy to be used as a risk management tool to ensure financial protection at the time of crisis. Insurance helps an individual to ensure financial protection against losses that may arise during an unforeseen event. An insurance policy is a contract between an individual (policyholder) and an insurance company (Insurance provider), under which, the individual makes regular payments known as premiums to the insurance company which in return pays the sum assured in case an unforeseen event such as demise of the policyholder, accident, damage to the vehicles or other possessions.

The premium rates for third-party car insurance price depend on the engine capacity of the car and is fixed by the IRDAI. However, the premium for standalone own-damage and comprehensive car insurance policies varies from car to car depending on a number of factors such as car’s MMV (Make, Model and Variant), RTO location, engine capacity, registration city, fuel type,

As per the Indian Motor Tariff, every car owner in the country is compulsorily required to own at least a third party car insurance cover. Absence of a valid third party car insurance plan is a punishable offence which attracts a fine of Rs. 2,000 and/or imprisonment of up to 3 months for the first offence.

There are a number of benefits of owning four wheeler insurance. Firstly, it helps you meet the legal requirement of owning at least a third party car insurance cover. Moreover, a car insurance policy helps you meet financial liabilities that may arise towards a third party or own-damages to your car due to a road accident or any other unfortunate event.

IThere are several types of insurance available in India. The four most common types of insurance bought in India are as mentioned below:

 

Motor Insurance: Motor insurance policy is a type of insurance policy that provides financial assistance in the event of an accident or mishap involving your vehicle. Motor insurance can be purchased for three categories of vehicles which are personally owned four wheeler, personally owned two wheeler (bikes and scooters) and commercial vehicles. There are three types of motor insurance available in India which are Third party Liability Cover, Comprehensive Cover and Stand Alone Own-Damage cover. According to a person’s coverage requirement for their vehicle, they can choose a motor insurance that fulfills their requirements. Third party motor insurance policy is mandatory in India for all vehicles, as per the Motor Vehicles Act.

 

Health Insurance: Health insurance policies provide financial assistance to the policyholder in case they need to be admitted to the hospital for any kind of treatment. Additionally, some health insurance plans also cover the cost of treatment which are undertaken at home before the hospitalization or after discharge. There are several health insurance plans available in India such as Individual Health Insurance, Family Floater Plans, Critical Illness Cover, Senior Citizen Health Insurance, Group Health Insurance, Maternity Health Insurance and Personal Accident Insurance.

 

Life Insurance: Life insurance is an agreement between an individual and an insurance company under which the insurance company promises to provide a sum assured (death benefit) to the family of the life assured in the event of an unforeseen death of the life assured. In case of no death, a sum assured known as the maturity benefit is provided to the life assured at the time of maturity of the policy under selective life insurance plans. There are 6 types of life insurance policies available in India which are Term Life Insurance, Unit-Linked Insurance Plan (ULIPs), Child Protection Plan, Money Back Plans, Retirement Plans and Endowment Plans.

There are two ways in which you can make a claim:

  • Cashless claims:  Get in touch with your insurer and inform them about your claim. Depending on the type of insurance (motor/health), the insurer will guide you about the cashless claim settlement process. In case of motor insurance, the insurer shares the details of a nearby cashless workshop if available and you just have to pay your part of the liability to get your car/bike repaired. In case of health insurance, you can get in touch with your TPA (Third Party Administrator) help desk at the time of hospitalization for a cashless claim.
  • Reimbursement claim:In case of unavailability of a cashless facility, you need to make a reimbursement claim. In case of motor insurance, you need to pay the entire claim amount up front (after informing the insurer of the claim) and get it reimbursed from the insurer after the repair of your car/bike. In case of health insurance, you need to pay the entire bill amount to the hospital (after informing the insurer) and get it reimbursed from the insurer post discharge from hospital.

TO buy any insurance (Car, Bike, Health, and Life), you can reach out to our dedicated support team on 7551196989 Mon to Sun 10 AM to 7 PM.

Below mentioned are some components to help you understand what is insurance and how does it work: 1. Premium Amount: Premium of an insurance policy is the decided amount that you need to pay for the insurance coverage. It is typically known as regular payments which can be made monthly, quarterly, half-yearly or annually. There are various factors on which the premium of an insurance policy is calculated by the insurance provider. The idea behind that is to check whether the insured person is eligible for the type of insurance policy they want to purchase. 2. Policy Limit: Policy limit is defined as the maximum amount that an insurance provider will pay for the losses covered under the insurance policy. This is determined on the basis of policy tenure, loss and similar other factors. 3. Deductibles: Deductibles under an insurance policy refers to the amount that the policyholder has to pay before the insurance provider settles the claim. Deductibles shall be applicable as per the policy’s terms and conditions.

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