insurance Archives -

5 Must Have Insurance Cover

Sun, 18 Jul 2021 05:33:44 +0000

The Buyt Desk

It is really important to have adequate insurance cover. Life is uncertain and insurance policy provides financial protection in bad times. With time the uncertainties in every sphere of life are increasing. Insurance covers are becoming an important part of your financial planning which prepares you to face unfortunate incidents. Life Insurance definitely is the most important cover that you must have for yourself but it is as important to have other insurance covers as well. You must protect yourself from spiralling medical costs by buying health cover for your family. Car insurance will take care of an unforeseen accident or theft.

Let us have look at how different kinds of Insurances help you –

Health Insurance

Health insurance has become very important insurance in today’s time. The best way to deal with health risks is to be financially prepared. Your insurance portfolio should be such that it gives you financial stability in times of need. There are two categories of health insurance – regular and critical illness. In case of any kind of medical emergency, one should take a regular health insurance plan to ensure that your hard-earned money and savings accumulated over the years are not lost. You can also opt for a floater plan and take a cover for all the members of the family. Apart from a regular health plan, you can consider critical illness cover which will give you protection against serious ailments like cancer, heart disease, etc.

Term Insurance Cover

Unfortunately, there are no guarantees in life. Thus you must not ignore term insurance. This will give financial protection to your family in case something happens to you. A pure term plan is a must-have in any person’s portfolio. Buying a term insurance product at the right time helps you in case of death, illness or disability. Term insurance gives you great cover at a low annual premium. Experts believe that term plans should be bought according to age.

Home and Goods Insurance Cover

We spend a good chunk of our salary towards a home loan so that we can own our dream home. We spend a lot on decorating our home and fill it with products and amenities. But how much do we spend on home insurance that can cover the things kept in the house? There could be a natural disaster, accident or theft. Home insurance will ensure that at the time of such shock your financial needs are met. A home and goods insurance ensures the safety of electronic items such as TVs, mobile phones, and electric/electronic devices in your home.

Vehicle Insurance Cover

It is mandatory to take third-party insurance during the purchase of any vehicle. Apart from this, you can see add-ons like protection cover for the engine, road assistance cover, and zero depreciation cover, etc.

Personal Accident Cover

Accidents can happen anywhere anytime. Severe accidents can leave you financially drained and at times with the pain of physical disability. You will be better prepared for such an untoward incident if you have a personal accident cover. This will help you and your family to deal with a permanent or temporary disability or death.

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Why is Insurance Important?

Wed, 30 Jun 2021 06:56:29 +0000

The Buyt Desk

The COVID-19 has made us understand the importance of insurance in our lives. Whether it’s health insurance or life insurance, both are necessary to take care of unwarranted emergencies. Treat insurance as a safety net for you and your family. If something happens to the breadwinner of the family the life insurance claim will help the family to stride through. Given the increasing cost of hospitalisation and medical care, it is becoming absolutely necessary to have a health cover. Here are 5 reasons why you must buy an insurance cover-

Term Insurance is important for the financial security of your family

Imagine the worst. What if you die? What will happen to your family especially if you are the sole earning member of your family. You must buy a life cover so that in case something happens to you the insurance claim will come to your family’s rescue till they find their feet.

Health Insurance can help you fight medical inflation

The increasing cost of healthcare can strain your finances. It’s just not hospitalisation but also pre and post hospitalisation expenses that can drill a hole in your pocket. Health Insurance enables you to get cover for your medical expenses.

For better financial planning

Did you know the rising cost of medical care every year pushes a big chunk of Indians towards poverty? Because people have to part with their earnings and even take loans to meet the expense of medical treatment.

Buy as early as possible

You should always buy health insurance when you don’t need it. Because when you are actually in need of health insurance you won’t find one so quickly. No company will entertain a health insurance request if the person is already sick. It is advisable to buy health insurance when you are young and fit. You will lock in the premium amount at a younger age and it will continue as you grow older

5. Risk Transfer

An insurance ensures that when a difficult time arises the financial risk gets transferred from the insured to the insurer. You as the insured pay a premium for this peace of mind that when an unforeseen event occurs you will have insurance to lessen your financial burden.

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Insurance Claim Rejected : What To Do Next ?

Tue, 29 Jun 2021 06:42:49 +0000

The Buyt Desk

You opt for insurance, whether health, car, or life, to safeguard family and self in times of distress. It only adds to the distress if the insurer rejects your settlement claim. It is more concerning because you regularly pay a premium to access the desired sum in an emergency. You trusted the insurer and paid the premium on time, yet you did not receive the sum insured. In such a case, learn about your consumer rights and exert them.

Be Aware Of The Insurer’s Service Parameters

As per a mandate by IRDAI, the board of directors of an insurance company should decide a policy regarding service parameters. When buying an insurance policy, the insurer informs about the turnaround time of different services and its grievance redressal system. Usually, an insurer accepts or rejects the claim within two weeks.

File A Complaint With The Insurer’s Grievance Redressal Division

If the claim is rejected even after submitting all the required documents and timely payment of the premium, you can file a complaint with the insurer. You can also complain if you are dissatisfied with the service. You send a letter or an email to the grievance officer of the insurance company. Either way, it is vital to collect an acknowledgment of the complaint. The grievance officer should address the complaint in two weeks.

File A Complaint With IRDAI

All is not lost if the grievance response from the insurer is dissatisfactory. As a next step, you can file a complaint with the Grievance Redressal Cell of the Consumer Affairs Department of Insurance Regulatory and Development Authority of India (IRDAI).

You can fill and submit the complaint form online at the IRDAI’s Integrated Grievance Management System (IGMS). Once filed, a copy of the complaint also reaches the insurer. You can track the status of your complaint on IGMS. You can file a complaint through post or courier to the Grievance Redressal Cell of IRDAI in Hyderabad or email complaints@irda.gov.in. It is also possible to file the complaint by calling the toll-free number of IRDAI 155255/1800 425 4732 between 8 am to 8 pm on any working day.

The insurer will resolve the complaint within two weeks. After that, the matter is closed in the absence of your response for up to 8 weeks. You can escalate the matter to the regulator without the insurer’s response after 15 days of complaint filing. Escalation is also possible if the insurer’s grievance resolution is dissatisfactory. Now, IRDAI will take up the matter directly with the insurer.

In the absence of a desirable resolution from the insurer, you can seek the intervention of the Insurance Ombudsman or turn to legal remedies.

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Insurance: Cashless Claim Vs Reimbursement Claim- What is the Difference?

Mon, 24 May 2021 09:32:50 +0000

The BuyT Desk

Health insurance is necessary to protect self and family in times of medical emergencies. It is a worthwhile investment to provide the best medical care for your family. Also, it saves you against the burden of high medical expenses. Before selecting a health insurance plan, few considerations are the insurance amount, additional riders, the premium, and credibility of the insurance company. You have heard repeatedly to read the terms and conditions carefully before buying an insurance policy. Among all the considerations, do pay attention to the claim process of the insurance.

Cashless Claim Settlement

If you wish to opt for this settlement, you can avail of medical treatment only in the hospitals, on the panel of the insurer. In such a case, before choosing your health insurance policy, ensure that the insurer has a long list of hospitals on its panel. You may avail cashless claims for a planned or unplanned hospitalization.

In the case of a planned treatment in the hospital, the insurer has to be informed a minimum of 4 days in advance. After submission of the cashless claim request form with the insurer, he will check the coverage and eligibility as per your policy. He will inform you and the hospital about this information. You have to display the health insurance card and insurer’s confirmation letter at the hospital on the day of treatment. The insurer will pay the medical dues to the hospital directly.

In the case of an unplanned treatment in the hospital, you can go to only a hospital empanelled by the insurer. You must carry the health insurance card to the hospital. The hospital will forward the cashless claim request form to the insurer. Upon receiving an Authorization letter from the insurer about your policy’s coverage and eligibility, the hospital will demand medical dues from the insurer who shall clear them. If the insurer rejects the claim, a letter is sent to the policyholder.

Reimbursement claim settlement

Under this claim settlement, you can opt for any hospital of your choice. The hospital doesn’t have to be empanelled with the insurer. After the hospitalization, you have to submit the claim request form along with the requisite documents to the insurer. The documents required (in original) are discharge summary, original hospital bills, doctor’s prescription, cash memo from pharmacy, investigation report, and medical certificate from the doctor. Upon evaluation of the claim against the policy’s coverage, the insurer pays the policyholder. However, the claim can also be rejected.

Cashless claim settlement is relatively new in comparison to reimbursement claim settlement. In cashless claim settlement, you do not pay the medical expenses upfront instead; your insurer settles the claim directly with the hospital. On the other hand, in reimbursement claim settlement, you pay for the medical treatment to the hospital and send discharge summary and other medical bills to your insurer for settlement, via post. A cashless claim is more convenient than a reimbursement claim. In cashless claim settlement, you can leave the worry of medical expenses and focus completely on your family member’s health. However, you have to pay the medical expenses from your pocket and later claim it from the insurer. In a time of distress, arranging for a huge sum of money adds to your woes.

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Free of Cost Insurance Coverage to LPG Users

Sun, 23 May 2021 12:19:16 +0000

The Buyt Desk

If you use an LPG connection at home then did you know that your gas connection comes with a mandatory insurance cover. All the oil marketing companies such as Indian Oil Corporation(IOC), Hindustan Petroleum Corporation(HPCL) and Bharat Petroleum Corporation provide a group insurance cover to all the LPG gas users. This includes an accident insurance cover of Rs 6 lakh apart from a medical expenses coverage of Rs 2 lakh.

Free of cost Insurance cover

This is known as ‘Public Liability Policy for Oil Industries’ and is given to protect consumers against unprecedented LPG-related accidents. As per the Ministry of Petroleum and Natural Gas this a free cover provided by the companies to its consumers. The cost of the premium is paid by the oil companies and consumers don’t have to pay an extra penny.

Insurance Cover

The LPG user gets coverage of Rs 6 lakh in case of loss of life due to an LPG cylinder related accident. Other than the life cover it also covers medical expenses of up to Rs 30 lakh per family with a maximum of Rs 2 lakh per person. The policy also covers property damage of up to a maximum of Rs 2 lakh per event if the customer’s registered premises have been damaged.

How to file the claim

You must inform the LPG dealer at the earliest after the mishap. The mode of communication should be in written format. The affected party don’t have to talk to any insurance company. They just have to ensure that the dealer has been informed. Next is the dealer’s responsibility to reach out to the concerned oil marketing company and the insurer. There will be a process of verification for which you have to fill out the claim forms. The processing of the claim will take around 15-20 working days. The claim is directly credited to the bank account of the user or the next of kin.

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Who is Eligible for Insurance Under Employee Deposit Linked Insurance (EDLI)?

Tue, 11 May 2021 12:47:39 +0000

The Buyt Desk

If you know of someone who was actively employed and died due to COVID-19 then his/her family or legal heirs will be eligible for an insurance claim of Rs 2.5 lakh to Rs7 lakh under the Employee Deposit Linked Insurance (EDLI). This is a mandatory insurance cover provided to all the private sector employees who are contributing to the employee provident fund(EPF). Once an employee starts contributing to EPF he /she automatically becomes a member of EDLI. The Employee Provident Fund Organisation (EPFO) recently increased the maximum limit of insurance under EDLI from Rs 6 lakh to Rs 7 lakh to help families suffering the loss of bread earner of their families.

Rules of EDLI

An organisation with more than 20 employees must have an EPF. Every month an employee and his/her employer both contribute 12% of salary towards EPF. This money is considered to be the retirement fund for private sector employee. But apart from the retirement corpus it also gives financial security to the EPF member and his/her family. The employer contribution is split into two parts wherein one part goes towards Employee Pension Scheme(EPS) and the other part is paid towards EDLI for the insurance cover to the employee. An employer contribution towards EDLI is from 0.5% of the employee’s basic salary. This insurance is payable in case the employee dies of natural death, illness or accident.

How to calculate the Insurance claim?

The quantum of insurance will be 30 times the 12 months average salary drawn by the employee. Apart from this, a bonus will be added to this amount. The minimum insurance payable would be Rs 2.5 lakh and a maximum of Rs 7.5 lakh.

How will the family apply for the claim?

For claiming EDLI cover the nominee/legal heir or the family member have to fill form 5 IF and submit it with the death certificate to the EPFO commissioner. One needs to attach a cancel cheque to the account where the family would want the amount to be credited. The employer will have to certify the form. In case the employer is not their then a gazetted officer, magistrate or postmaster can attest it. Form 5 IF can be downloaded from the EPF website and needs to be filled online. The claim settlement will take around 30 days.

This insurance is available for persons who were working and had not retired. EDLI applies to all the employees getting a salary under Rs 15,000. If the salary is above Rs 15,000 then also the maximum EDLI benefit is capped at Rs 7 lakh only.

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Insurance in just Rs 12- Pradhan Mantri Suraksha Bima Yojana (PMSBY) has made this a reality

Thu, 22 Apr 2021 07:27:24 +0000

The Buyt Desk

The Government of India launched Pradhan Mantri Suraksha Bima Yojana, accidental insurance, in 2015. To fulfil the goal of financial inclusion, the Government launched two more schemes – Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana (APY) along with PMSBY. The aim behind the launch of PMBSY was to provide accidental cover to more and more Indians at an annual premium of just Rs.12.

Eligibility of the subscriber

You can avail the accidental insurance if you fulfil the following criteria:

An Indian citizen or Non-Resident Indian (NRI)
The age bracket of 18 to 70 years
A bank account holder

Who is providing the scheme?

Public sector general insurance companies are providing Pradhan Mantri Suraksha Bima Yojana. Other general insurance companies, which agree with the terms and conditions of the scheme, can tie up with banks to provide the insurance to the citizens. It is the responsibility of the bank to recover the premium from the subscriber and forward it to the insurance company.

Features of the scheme

Premium to be paid is Rs.12 annually.
The cover for accidental death and full disability is Rs.2 lakhs and for partial disability is Rs.1 lakh. The coverage period is from 1 June to 31 May of a year. The scheme is renewed yearly. The scheme defines full disability as complete loss of function of eyes, hands, and feet. However, partial disability refers to loss of function of one eye, one hand, or one foot.
The subscriber gives an auto-debit instruction, for the premium, from his bank account. The premium is deducted from the bank account before 1st June.
If the subscriber exits the scheme at any point in time, he has the option to re-join by paying the annual premium.

How to subscribe to the scheme?

You can subscribe to PMSBY by submitting the duly filled application form at your bank. The application form is available in PDF format at https://jansuraksha.gov.in/. Aadhaar card is required as the KYC document.

The claim process

For the claim process, it is necessary to submit documentary proof of the death or disability in an accident. Police FIR will be the documentary proof for death by any crime, drowning, or road, rail, and vehicular accident. A hospital record is proof enough for snakebite or accident by falling from a tree. Moreover, the insurance company may even require the application form submitted to the bank by the subscriber, and the acknowledgement slip given by the bank. After claim processing, the money goes directly to the bank account of the subscriber or the nominee if the subscriber has passed away.

When is the cover terminated?

The subscriber has reached the age of 70 years.
The bank account linked with the PMSBY has been closed or has insufficient funds.

PMSBY is helpful for weaker sections of society to get an accidental cover without paying a huge premium. However, the insurance companies find it difficult to sustain the insurance under PMSBY at a meagre annual premium of Rs.12.

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Which Insurance Policy is Right for You?

Tue, 06 Apr 2021 13:08:31 +0000

The BuyT Desk

Before deciding upon which life insurance policy is best suited for you, it is important to understand your need for life insurance and the different types of life insurance policies. There are two broad categories of life insurance policies – term insurance and permanent (whole life) insurance. As the name suggests, term insurance is valid for a specified period, while permanent insurance is valid until the end of life.

Term life insurance: This type of life insurance is the most affordable. Its sole purpose is to provide financial security to the family members of the insured person. Term life insurance is done for a specific time (term). If the insured person dies during this term then the beneficiary receives the death benefit. However, there is no survival benefit at the end of the term.

Pros:

Affordable premium.
The sum assured is much higher than the premium paid.
The usual term is 30-35 years, and thus, when you buy this policy at the beginning of your career its coverage will cover years when age-related ailments begin.
There is no penalty to be paid in case you surrender the policy. If you do not pay the premium, the policy will lapse.

Cons:

There is no cash value associated with term life insurance.
After depositing a premium for so many years, you do not receive any payout at end of the term.
The coverage is available only for the specific term and not the whole life.

As a remedy to the shortcomings of term life insurance, you can opt for a convertible term life insurance plan. In this plan, you can switch the term life insurance to an endowment or whole life insurance as per your need. Even after the conversion, the premium of the policy remains the same.

Whole life insurance: This kind of life insurance offers life protection cover until the end of life i.e. 100 years of age. It provides a death benefit and bonus to the nominee in the case of the demise of the policyholder. If the policyholder outlives the term of the policy then he receives maturity benefit. The policyholder decides the sum assured amount for whole life insurance. A higher premium is paid for this life insurance policy.

Pros:

The premium is paid for the initial years of the policy (10-15 years) but life protection coverage is available for the entire life.
The premium determined at the beginning of the policy remains the same throughout.
Maturity and survival benefits are provided.
Instead of taking maturity benefit as a single lump-sum payment, you can opt for receiving it as an income periodically.
If you do not default in the premium payment and the policy has been completed for 3 years, then you can avail loan against the policy.

Cons:

High premium.
A surrender charge is levied in case you surrender the policy before maturity.

Endowment life insurance: It is not only an insurance plan but also a savings plan. It helps the policyholder to save money regularly that is received as a lump sum at the end of the policy’s term. Unlike the term life insurance, the payout is given if the policyholder survives the tenure of the policy. The premium is definitely higher than term life insurance.

Pros:

It provides the opportunity to save for long-term financial goals like child’s marriage or retirement.
It is safer than ULIP because an amount of the premium is saved for the future and not invested in equity.

Cons:

High premium.

Money-back life insurance policy: It is the most beneficial policy to fulfill your financial commitments that crop up at different life intervals, for example, child’s education, child’s marriage, medical emergency. In this policy, you receive some money regularly from the sum assured. When the policy lapses then the remaining portion of the sum assured is paid. In the case of the demise of the policyholder during the policy tenure, the beneficiary is paid the full sum assured despite earlier interim payments.

Pros:

A regular stream of money in addition to life protection cover.

Cons:

Most expensive life insurance policy.

ULIP (Unit-linked Insurance Policy): This policy provides insurance along with investment. A percentage of the sum assured is invested in either equity or debt instruments. At the end of the policy tenure, a financial corpus gets accumulated. This can help you fulfill long-term financial goals.

Pros:

Accumulation of financial corpus.
Flexibility to decide whether to invest in equity or debt funds.
Exposure to market-linked investment for a newbie investor.

Cons:

Associated risk as the investment is market-linked.

Now you have a broad idea about the different life insurance plans available in the market. Next, analyze your requirement and then choose the best fit. Take the example of a lock and key. Here, your requirement is lock and you have to decide which policy is the key.

Before we go ahead, do remember that a certified financial consultant/planner is the correct person to help you seek the key for your lock. Always consult him before buying your life insurance policy.

Scenario 1: You want an insurance plan, which is affordable and provides good financial security to your family in your absence.

Term life insurance has a low premium yet provides a high amount of sum assured.

Scenario 2: Along with life insurance cover, you wish to create a financial corpus for mid to long-term financial goals.

Endowment or whole life insurance plans are good options to create a corpus for the future along with life insurance cover. In both these plans, your saved money will be risk-free.

Scenario 3: You want a life insurance cover for your entire life.

A whole life insurance plan provides coverage until 100 years of age.

Scenario 4: You want to have a taste of market-linked investments.

ULIP gives you a chance to understand the workings of the equity market. Also, in case later to wish to keep your investment safe, you can easily switch to a hybrid or debt fund.

Scenario 5: You feel that your requirement for life insurance cover or financial goals will become different in the future.

Simply, opt for a convertible life insurance policy and switch to a different life insurance plan as per your need in the future.

We hope you will utilize this information and take a well-researched and well-thought decision while choosing your life insurance policy. Again, always consult a certified financial consultant before making any financial decisions.

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How to Port Your Health Insurance Policy?

Mon, 22 Mar 2021 06:25:46 +0000

The Buyt Desk

With rising medical expenses an unforeseen medical expenditure can play havoc with your finances. This is why health insurance is the most important part of your financial planning. But with so many companies and so many health insurances plans more than often consumer gets confused and ends up with a wrong product.

When you discover that you are holding a policy with features which does not serve your need you can always change your insurer by opting for health insurance portability. Changing your insurance company is called porting your insurance. The Insurance Regulatory and Development of India ( IRDAI) has mandated the companies to allow this change without consumer losing out on accumulated benefits from the previous policy. In the past, if the policyholder moved to another company he/she had to forego the benefits like waiting period or coverage of pre-existing ailments. But not anymore, IRDAI has given the ‘Right to Port’ to every consumer.

As per the IRDAI guidelines, the new insurer will have to allow the credit gained by the insured for pr-existing conditions in terms of the waiting period. The policyholder can port any individual or family floater policies. Both the insurance companies must complete the procedure of porting as per the prescribed timelines of the insurance regulator.

Rules of Porting

A policyholder can port the policy only at the juncture of renewal. A health insurance policy (health insurance plan) is only allowed to be ported close to the time of renewal. Therefore, when the existing health plan has 45-60 days to renew, then only one can apply to another insurance company to get it ported.
The policyholder will continue to get the benefit of the waiting period and pre-existing disease coverage. If the policyholder has completed his waiting period duration of 24 months(or as specified by the insurance company) he/she need not again spend that waiting period with the new insurer to avail the policy benefit.
When there are 45 days left for the renewal of your policy you must inform your old insurance company about the shift and renew your policy with the new company without giving the policy any breaks.
The policyholder must give a copy of the previous policy to the new company alongside a proposal form.
After applying, the new company will take your medical history and claim information from your previous insurer. The new insurance company will decide on the port according to the situation.
Within 15 days of giving all the information, the insurance company will have to inform you whether they have approved your application or not.

Keep in mind that while porting, a decision will be taken according to your current health condition. Accordingly, your premium can increase in the new Health Insurance Plan.

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Insurance – Term Plan Vs Endowment Plan!

Wed, 20 Jan 2021 14:09:27 +0000

The BuyT Desk

Insurance gives you protection against unforeseen situations. Are you wondering what kind of plan you should buy? Whether to buy a term plan or an endowment plan? These are two broad categories of insurance plans, and the type of plan decides your benefit and maturity payouts. Both plans protect policyholders’ family in case of death, but their structures differ. They will give you a tax exemption as per the Income Tax Act, but you must understand how term and endowment plans differ.

Term Plan

A term plan is a no-frill comprehensive cover. It does not provide any monetary benefits at the time of maturity. Term plans are priced at very low premium rates. In a term plan, the beneficiaries receive the maturity amount on the policyholder’s untimely demise. The low premium of term insurance makes it very affordable. Every earning individual supporting a family and has payment liabilities like loans and payment for children’s education must have a basic term plan to cover his/her life. In case of an unprecedented death incident, at least their family will have a financial cushion to fall back on.

Endowment Plan

An endowment plan is a combination of insurance and investment. When the endowment plan matures, the premium paid by you over the years will be your corpus. But the premium for endowment plans is on the higher side.

The Premium Difference between Term & Endowment Plan

The most significant advantage of a term plan is its affordability. It gives life coverage at very low premium rates. As far as endowment plan is concerned, the premium is on the higher side. For a cover of Rs 1 crore, the term plan premium would be somewhere between Rs 8500-9000 whereas premium for the same coverage for an endowment plan would be around Rs 90,000 annually.. But the critical difference is that in a term plan when a policyholder outlives the policy, he never receives any amount when the policy completes the tenure. But in an endowment plan policyholder receives a sum assured.

Both the plans, term and endowment offer various rider or additional benefits. If you opt for a rider, your premium outgo will rise. Some of the riders include critical illness, accident cover, hospital cash cover and so on.

Taxability

Life insurance premium payment has always given tax benefit. You can claim a tax deduction of up to Rs 1.5 lakh under section 80C of the Income Tax Act. And in case you buy an endowment plan and will be receiving a sum assured then as per section 10(10D) of the Income Tax Act this amount will be non-taxable.

How should you choose?

If you have a family that is financially dependent on you, it’s very important to have a term plan. After taking a term plan if you have a surplus fund that you want to save for the future, go for an endowment plan. But just buying an endowment plan without having a proper term plan will not be wise.

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insurance Archives -

5 Must Have Insurance Cover

The Buyt Desk

Let us have look at how different kinds of Insurances help you –

Health Insurance

Term Insurance Cover

Home and Goods Insurance Cover

Vehicle Insurance Cover

Personal Accident Cover

Why is Insurance Important?

The Buyt Desk

Term Insurance is important for the financial security of your family

Health Insurance can help you fight medical inflation

For better financial planning

Buy as early as possible

5. Risk Transfer

Insurance Claim Rejected : What To Do Next ?

The Buyt Desk

Be Aware Of The Insurer’s Service Parameters

File A Complaint With The Insurer’s Grievance Redressal Division

File A Complaint With IRDAI

Insurance: Cashless Claim Vs Reimbursement Claim- What is the Difference?

The BuyT Desk

Cashless Claim Settlement

Reimbursement claim settlement

Free of Cost Insurance Coverage to LPG Users

The Buyt Desk

Free of cost Insurance cover

Insurance Cover

How to file the claim

Who is Eligible for Insurance Under Employee Deposit Linked Insurance (EDLI)?

The Buyt Desk

Rules of EDLI

How to calculate the Insurance claim?

How will the family apply for the claim?

Insurance in just Rs 12- Pradhan Mantri Suraksha Bima Yojana (PMSBY) has made this a reality

The Buyt Desk

Eligibility of the subscriber

Who is providing the scheme?

Features of the scheme

How to subscribe to the scheme?

The claim process

When is the cover terminated?

Which Insurance Policy is Right for You?

The BuyT Desk

How to Port Your Health Insurance Policy?

The Buyt Desk

Rules of Porting

Insurance – Term Plan Vs Endowment Plan!

Term Plan

Endowment Plan

The Premium Difference between Term & Endowment Plan

Taxability

How should you choose?