What is the importance of Family Planning in India?

In India, the moment a couple is married, there is a constant pressure on them to have kids. Some couples give in to the pressure, some take their time to start a beautiful chapter of their life. There are some couples who don’t think much about themselves, but they are worried about what others think of them. Because of this, they want to have kids as they don’t want anybody to think that they are impotent.

They don’t realize that family planning is very important. Given the rate of inflation, it becomes such a difficult task to raise kids. Family planning is defined as expanding the size of a family according to a limit regarding the income and the size of a family. Family planning ensures that health of the mother and the baby is not compromised and the baby can be raised comfortably without any financial burdens. In order be financially secure buy family health insurance plans and secure the health of your family.

The small size of a family reflects a good standard of living. One should have kids, not by chance, but by the choice. Pregnancy should be a result of planning, instead of an accident. Basically, acceptation of a small family and less number of kids is the driving force of any family planning program.

Why is the Family Planning in India is Important?

Family planning program is good not only for the individuals but also for the society. The importance of family planning in India is mentioned below.

  1. The benefit to the Children

If the population growth is slow, that is a result of family planning program only. This makes it beneficial for the children. A decrease in the birth rate reduces the number of children being born. It reduces the number of kids dependent on the working people. It would create an atmosphere where the children would be better fed, better looked after, better cared for and they will get a better upbringing.

  1. The benefit to the Parents:

The family planning and parents’ health share a direct relationship. When a couple has less number of kids, they can spend the resources on raising the standard of living for their family. Family planning is responsible for the better health of the family and the long, prosperous and happy life of the mother. Not just that, good family planning results in better care and education provided to the kids.

  1. The benefit to the Society:

When the family planning is beneficial for the individual, it becomes beneficial for the society as well. When the good family planning results in an improved living standard of the people, the quality of humans will be improved and the society will become better.

  1. The benefit to the Nation:

The family planning is very important for the welfare of our nation. Eventually, the family planning will result in the development of our country’s economy. As a result of a decrease in the population growth, there will be an increase in the per capita income.

The additional per capita income can become an instrument for the additional saving and it will result in the capital formation.

In a long run, the decrease in the population growth will favorably affect the labor supply and then the hike in the rate of labor supply would be reduced. In that scenario, unemployment will be eradicated.

 

Why critical illness plans are important and how do you choose one?

Private medical insurance companies offer critical illness insurance policy that provides coverage for expensive medical treatments. Critical illness treatment can wash off your savings in a single go. These exclusive health insurance policies come handy when a serious illness like stroke, cancer etc., strikes and demand emergency medical intervention. Critical illness has all the potential to wipe your precious savings.

Mentioned below are the few things to keep in mind when you select a critical illness insurance policy.

  1. Know the Difference between the Individual Insurance Plan and Family Floater Plans

A critical illness insurance policy offers lump sum benefit in case the insured person is diagnosed with life-threatening diseases. No matter how much your hospital expenses are, critical illness plan pays the insured the full sum assured.

Always keep in mind that the critical illness insurance plan isn’t a substitute for the basic medical insurance plan. There are times when the basic health insurance plan can’t provide complete coverage against illnesses that is categorized as the critical illnesses. A critical illness insurance policy can’t be used in the place of a health insurance plan.

  1. Know where you and your family’s health stand

Being realistic about the lifestyle habits and critically analyzing the risks they impose give a clear picture of your insurance needs. In case you’re a chain smoker and if you have a hectic work schedule, it is likely that you are vulnerable to serious health ailments in the coming time. You can consider buying critical illness insurance, apart from making changes to your lifestyle and maintain appropriate work-life balance.

Buying critical illness insurance plan is recommended in case there is a history of critical medical issues in your family. In case there are senior citizens in your family, it is recommended to get additional coverage for diseases like Alzheimer’s, stroke and kidney failure so that they are covered and you are financially secured.

  1. Not Every Critical Illness Policy Provides the same Benefits

The range of critical diseases covered by insurance providers may differ. For instance, opting for Apollo Munich’s critical illness insurance plan- Optima Vital, the policyholder or insured person gets the option to avail 37 critical illnesses covers, including cardiomyopathy, cancer, kidney failure, blindness, multiple sclerosis, and deafness.

The cover amount of critical illness health insurance plans also varies. The insurance experts suggest that any critical illness insurance plan offering Rs.15 lakhs as a sum insured can be selected.  This amount will cover critical illness treatment, rehabilitation and the loss of income (if any).

Your Critical Illness Plan must be in Sync with your Health Insurance Plan

When finalizing a critical illness insurance plan, ensure that it is in coordination with your health insurance plan and it offers sufficient coverage at an affordable price. The point behind that is the combination of both the policies must you provides the coverage against a majority of the diseases.

Life is unpredictable, and a critical ailments insurance plan offers a protection shield against various unpredictable uncertainties. If you want to live steadily, invest wisely.

 

Cigna International Health Insurance Plans

Cigna TTK Health Insurance Co. LTD. was established in November 2013 and started its operations in February 2014. It is well known for its health insurance plans in the insurance market.

Cigna TTK has good news for people who are looking to get their surgeries done outside India. It is offering health insurance coverage over boundaries. Now, you can avail health insurance coverage and benefits outside the country.

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Hospitalization expenses

Treatment expenses, nursing expenses, room rent for hospitalization, day care treatment and recovery room charges are covered under Cigna International Health Insurance Plans.

Expenses for the following are covered under this plan

  • Prescribed medicines and dressings expenses for inpatient or day care treatment.
  • Operating theatre
  • Treatment room rent for hospitalization more than 24 hours.

Intensive Treatment

  • Any type of intensive therapy.
  • High dependency unit.
  • Coronary care.

Surgeon and Anaesthetists Fees

In case of surgery, this plan also covers an inpatient, day care or outpatient expenses.

Specialists’ Consultation Fees

Cigna TTK International Health Insurance Plan pays in total for regular visits by a specialist during your hospital stay including intensive care by a specialist for as long as is medically required.

Hospital Accommodation for a Parent or Guardian

It offers maximum amount mentioned per policy tenure.
If an insured is under the age of 18 years old needs a medical treatment and it is mandatory to be hospitalised overnight, the insurance policy will also pay for hospital accommodation for his or her parent or legal guardian, only in the following cases:

  • Accommodation is available in the same hospital
  • The cost of room rent is nominal.

Organ Transplantation, bone marrow and stem cell transplants

This insurance plan pay for hospitalization treatment arising out of an organ transplant, for the insured only if:

  • The organ transplant is medically important, and the organ need to be transplanted has been given by a member of the policyholder’s family or is taken from a verified source.

External prosthetic devices/surgical and medical appliances

It covers the maximum amount as mentioned per policy tenure.

  • An important device or appliance that is a necessary for treatment immediately after the surgery for as long as is required medically.
  • An important device or appliance that is necessary and is part of the recuperation process for a short-term basis.

You may like to read : Star Health Insurance v/s Cigna Health Insurance?

In case of adult this plan bears the expenses incurred for one external prosthetic device and for children up to the age of 16, it bears the initial prosthetic device and up to 2 replacement devices.

International Outpatient

More extensive outpatient hospitalization expenses for treatments that doesn’t require an overnight stay in hospital. It also includes prescribed outpatient medicines and dressings.

International Medical Evacuation

Medical evacuation in case the treatment is not offered locally at the time medical emergency, repatriation, allowing the policyholder to return to their home country.

International Health & Wellbeing

This helps you to proactively managing your own health. It allow you to avail medical tests against common illnesses and reassurance with regular physical examinations.

International Vision & Dental

It additionally also includes vision care that offers an eye test and a wide range of preventative, regular and major dental tests and treatments.

Benefits of Holding an E-Insurance Policy

Because of the demonetization of Rs. 500 and Rs. 1,000 currency notes and its after-effects, people have understood the value and benefits of the digital money, NEFT transactions, digital wallets, and Debit/Credit card transactions. This article will help you to understand the benefits of holding an e-insurance account.

If you want to buy health insurance, you can check out the insurance plans offered by Bajaj Allianz health insurance.

What Is E-insurance?

E-insurance account is an online account just like a Demat account. It helps you in storing your documents related to insurance plan in a digital so that it is safer to access whenever you need. It functions the same way as a bank account does. Transactions details, information, and documents related to all your insurance plans would be stored in one place. The policy related information such as the date of issue, policyholders’ address, policy maturity status, nominee details, and policy terms and conditions etc. can be easily accessed. In case you wish to download a copy of your insurance policy, you can easily do that.

Benefits of Holding an E-insurance Policy

  1. Cost Efficient

If an individual
buys an insurance plan online he gets to save money as he doesn’t have to pay any commission to any insurance agent as there is no insurance agent/broker involved. This makes buying insurance online very cost-efficient. You can buy your preferred insurance plan offered by your preferred insurance provider and be safe and protected.

The best thing about holding an e-insurance account is that the cost involved with the transition of the paper-based insurance plans in the digital format would be borne by the insurance providers. Policyholders don’t have to spend a single penny from your pocket in order to be benefitted by an e-insurance account.

2. Convenience

With the help of an e-insurance account, your insurance instruments such as medical insurance plan policy, pension plan, investment plan etc. are stored in a single platform. An e-insurance account provides you the access to all your policies wherever and whenever you need.

Having a paper-based insurance policy is inconvenient. There is a risk of policy damage and loss. When it comes to e-insurance policy, the documents related to the plan are safe and protective.

At the time of purchasing a fresh insurance plan, you don’t have to go through the KYC verification process again, until or unless you need to make changes in the KYC details provided by you. All you need is mentioning your e-insurance account number, it will be sufficient for the purchase of a new insurance plan.

  1. Eco-friendly

An e-insurance account has all the documents in the digital form. There is no requirement of physical documents. It is eco-friendly as no paper is used. It means there are no trees cut in order to meet the paper requirement. It is a great step as it conserves precious natural resources.

Now you know the benefits associated with holding an e-insurance account. The world is going digital, why should you lag behind?

Beginners’ Guide to Choosing a Motor Insurance Plan

A motor insurance policy is an insurance that one never hopes to use especially in the case of an accident. According to the law, buying motor insurance is mandatory for every vehicle owner in India. You can’t assume that your vehicle would never be vandalized, stolen or be damaged in any accident. If these unfortunate incidents happen, the damage/repair bills can be a huge risk for your financial security. That is why having an insurance plan is absolutely necessary so that your financial safety is never exposed to any kind of risk.

Buying a car insurance plan is not that tough. But, buying the best insurance plan might be a little difficult as you need to be well informed. The premium depends on the condition of your vehicle. Here is the beginners’ guide to selecting an automobile insurance plan.

Deductible

The term “deductible” means the money that you would have to pay from your pocket in case you file a claim. Deductible shares an inverse relationship with the premium. If the deductible is lower, then, the premium would be higher and vice versa. Think carefully before you go for a lower deductible.

Your Area of Residence Matters

If you live in urban area, your premium amount would be higher; if you live in the rural area then your premium would be lesser. In urban areas, vehicles are more prone to theft, break-ins and accidents etc.

Clikc here to know more about Motor Insurance

Your Insurance Should Be Sufficient

Being under-insured or over-insured is of no good. If you are over insured, you are just wasting your money and if you are under-insured then the purpose of having an insurance plan is not fulfilled. You would have inadequate coverage. In the end, you would have to pay for repairs from your own pocket.

The Model of your Car

Insurance premium for the top model cars such as Audi, BMW, and Mercedes is way higher than the premium for the basic model cars. The reason behind that is damage repair cost of expensive cars is also higher; hence the premium rate is higher.

Affordable Coverage vs. Adequate Coverage

When it comes to coverage, striking a perfect balance between affordable coverage and adequate coverage is important. Generally, issuance buyers want to have enough coverage and they don’t want to pay much for a premium. If you don’t want to pay much for your 4-5-year-old car, it is fine. But, if you have a brand new car, if adequate coverage costs you a high premium then it is totally worth it

Avail Discounts

Motor insurance providers offer various discounts on the base of numerous factors mentioned below.

  1. Installation of car security system
  2. If you don’t file for claim, you are offered NCB discount for a claim free year.
  3. If you are a member of any automobile association.

Now you are aware of ins and out of insurance. Before you buy insurance always compare so that you get a good plan. Having motor insurance plan safeguards you and your vehicle from potential risks.

 

 

Travel Insurance Online Coverage Tips

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Buying Travel Insurance online is a better way for getting one’s Insurance as there are several plans offered by a variety of companies. An individual can choose the travel insurance that suits his/her needs the best.

Tips for buying the best Travel Insurance Online

A certain number of things are checked before a policyholder invests his/her money into buying a travel insurance online. The company’s credibility is one factor that affects the choice of the customer. The more reputed the company, the more the customer will get inclined into buying a policy from them.

The amount of money given to buy a policy. Minimum premiums are cheaper and easier to pay by the policyholder, making Travel Insurance Online affordable. A fast hassle-free method by which customers can get Travel Insurance makes the plan gain popularity.

There are different types of Travel Insurance online plans that take care of specific needs of it’s customers. A policyholder must know that there are general travel insurance plans as well as special insurance plans that are for those who are traveling for adventure. Special plans have greater features than normal travel insurance online plans.

If the amount of money that a customer pays to buy a travel insurance policy is high, then the premium paid will also be high. The claim settlement percentage I.e the number of claims that have been settled by the company is an important fact to keep in mind when choosing a travel insurance online.

Key features of Travel Insurance Online

Travel Insurance Online deals with providing customers with the ideal cover for emergencies and unforeseen situations when outside of one’s home. Some of the key features that all policyholders look into before buying a travel insurance online plan are:

  • Compensation given when a flat is cancelled or delayed. This includes accommodation during the waiting period for the policyholder.
  • Medical emergency and hospitalization are taken care of by the policy.
  • Expenses when a trip is delayed due to emergency situations are taken care of under the policy.
  • Legal liability and expenses are also taken care of.

Exclusions of Travel Insurance

The general exclusions that a travel insurance plan have include flight or trains that are missed due to protest or civil war. The expenses that are caused when the policyholder gets involved in protests. Pre-existing conditions that have lead to hospitalization of the policyholder. It also includes baggage delay that is less than in 24 hours. The damage or loss of keys is also not compensated for.

However, it is important to note that the exclusions vary from one plan to another. Anyone can compare travel insurance online and check the exclusions for each and every plan, then chose their plan accordingly.

You may like to read : Travel Insurance Benefits to Seek in 2017

Claims Process

It is always advised for all travelers to get a travel insurance policy before commencing travel. The policyholder must have the main policy document when traveling.

If there is an emergency, then the policyholder needs to call the travel insurance company for understanding the claims process and the documents that need to be submitted for the same. The documents can be sent to the insurance company either through post, email or fax.

Required documents like the passport of the individual, immigration stamp, copy of policy, claims form, original bills and receipts, policy report and personal identity proof may also be required for getting back one’s policy claim.

As the insurance company receives all the necessary documents from the policyholder, it is cross-checked by a surveyor from the company and the process for compensating the policyholder is processed accordingly.

The top five Travel Plans of India

Some of the best travel insurance online plans are put in the table below:

Insurer Categories covered Special Features Exceptions
Apollo Munich Individual, Family, Floater, Annual, Multi Trip. Ø  Emergency cash.

Ø  Damage of checked in baggage.

Ø  Trip Cancellation.

Ø  Coverage of personal liability.

Ø No specific European/Schengen plan.

Ø Pre-existing illnesses are not covered.

Bajaj Allianz Individual, Family, Floater, Annual, Multi Trip, student, senior citizen. Ø  Emergency cash.

Ø  Checked in baggage Loss.

Ø  Burgalary covered 2-way.

Ø  Bail bond.

Ø  Compensation visit coverage.

Ø Pre-existing illnesses are not covered.
Bharati AXA Individual, Family, Floater, Annual, Multi Trip. Ø  2-way compensation.

Ø  Emergency cash advance.

Ø Pre-existing illnesses are not covered.
Future Generali Individual, Annual, Multi Trip. Ø  Emergency cash advance.

Ø  Child escort benefit.

Ø  Trip cancellation.

Ø  Curtailment coverage of personal liability.

Ø Pre-existing illnesses are not covered.
HDFC Ergo Individual, Family, Floater, Annual, Multi Trip, student. Ø  Loss of checked in baggage.

Ø  Flight delay benefits.

Ø  Study interruption (for students).

Ø  Treatment of mental and nervous disorders (for students)

Ø Pre-existing illnesses are not covered.

Tips to Find the Right Car Insurance Policy

Buying the right car insurance plan for your car is a tough task in itself unless you know the important tips that should be acknowledged while buying a car insurance plan. You must have noticed that auto insurance agents or broker try to sell their products. However, it is important for you to choose the insurance policy carefully after going through the benefits and coverage of the insurance policies. It is always advisable to compare between different insurance plans from multiple insurance providers to get the better offering and the best deal.

Increasing gas prices are elevating the cost of owning a car. Therefore, it is worth seeking different ways to cut other car operating expenses. You can lower the cost of car operations by buying a car insurance policy. According to the Indian Motor Vehicle Act all vehicle should be covered under a third-party insurance plan that provides protection against legal liability against the expanse that might incur due to loss or damage to third party or its property.

Today insurance companies are offering comprehensive plans that offer coverage against multiple miss happenings that can cause additional expenses. Check out some important tips that can help you to buy the right insurance plan from the market below:

  1. Do an Annual Rate Check: Compare the rates from other insurance companies to get the best deal in the market. You can easily find insurance comparison tools where you can compare between different plans on different basis. Some insurance companies or insurance agents or broker also offers personalized quotes not immediate but after sometime. Online shopping is one of the best time-efficient ways to find a better deal.
  2. Select a Plan from Branded Insurer: It is always seen that well-known or branded insurers do well, as they are better than others with their claim settlement procedure, renewal procedure, and non-claim benefits. So before buying any car insurance policy make sure you check the full Ratings of the insurer companies and real customer reviews.
  3. Maintain Good Credit: Keep your eyes on your credit score because in many cases a low score can increase the premium amount of your car insurance policy.
  4. Choose the Right Deductable: in case you set a high deductible, you premium get reduced, but you have to bear huge amount out of pocket in case of any unfortunate events like an accident.
  5. Read the Policy Wording: Make sure that you check the coverage and benefits offered under your policy. Also ensure that the policy offers enough liability coverage for third party bodily injury and property damage. This is true that the medical costs and risk increases, and therefore your coverage should too. Always select a plan after evaluating the value that might incur due to different possible risk.
  6. Choose the Right Car: Car insurance plan also offers coverage for own damage and it is the big part of the price of auto insurance. Insurance company offer cashless garage facilities for own vehicle damage in case you meet with any accident and occur damage to your car.

Buying a car insurance policy is bit tough as there are number of car insurance policies available in the market. But following the aforementioned important tips you can easily reach out the right insurance plan for your four-wheeler. It is always advised to buy insurance online because it saves lots of time and money.