Wednesday, 25 April 2018

Oriental Insurance Policy Renewal

The Oriental Insurance Company is a public insurance company under the Government of India. The main specialties of the company include in designing plans for huge projects like chemical plants, steel plants, and power plants. 

The company has around 3 regional offices and more than one thousand eight hundred operating offices spread across the country. The company also has overseas operations in three neighboring countries.

The Different Types of Oriental Insurance Policy

With an expert team and smooth operations, Oriental Insurance Company provides several insurance plans. The categories in which Oriental Insurance Policy are provided include General Insurance and 

Motor Insurance
Health Insurance
Shopkeeper Policy
Householder policy
Policies for business offices and traders
Policies for Industries
Agriculture and Poultry insurance policies
Insurance for animals and birds
Marine operators policy

Motor Insurance by Oriental Insurance Policy

Apart from general insurance, motor insurance plans offered by Oriental Insurance policy are sought after. There are two kinds of motor insurance plans offered by Oriental Insurance. 

The Private car insurance is a package for private cars. This plan covers liability to the third party apart from providing personal accident cover to the driver.
The two-wheeler insurance covers accident, loss or theft of your two-wheeler apart from liability to a third party and personal accident cover. 

Health Plans by Oriental Insurance Policy

Oriental Insurance Policy offers a variety of health plans with affordable premiums and a wide coverage. The additional riders help you enhance your coverage at a low cost. The different types of health plans by Oriental Insurance Policy include:

Individual Mediclaim Policy
Group Mediclaim Policy
Health plans for privileged Elders
Family Floater Plans
Overseas Mediclaim Plans
Health plans for senior citizens

Other General Insurance Products by Oriental Insurance Policy

Oriental Insurance Company also provides several other general insurance products that include: 

i. Householder Insurance
Householder insurance policy is a plan that offers protection for your house along with the components depending on your choice. This single plan covers ten departments and the policyholder can choose any three types of cover.

The ten kinds of coverage used are against fire, house-breaking and burglary, all risks, against damage to domestic appliances, personal electronic gadgets, personal accident and public liability. 

ii. Shopkeeper Insurance Policy
Shopkeeper insurance by Oriental Insurance Policy is for owners of small-sized and medium-sized stores. This plan protects the property and other components of the store depending on your choice. Protection is provided against fire, loss of money, loss or damage to the contents through housebreaking, loss or damage to the neon signboard, breakage of the fixed glass plate, personal accident, public liability, protection against damage to electronic equipment, liability to employers etc. 

Other unique general insurance products by oriental insurance in the industrial sector include:

iii. Engineering Insurance
iv. Industry insurance
v. Aviation Insurance
vi. Marine Insurance

Some general insurance products by oriental insurance in agriculture and animal husbandry include:

vii. Cattle Insurance
viii. Dog insurance 
ix. Aquaculture insurance
x. Coconut palm insurance 
xi. Kissan Package insurance

Oriental General Insurance Renewal Procedure

When you renew your oriental general insurance or any other insurance online there are some handsome discounts that are subjected to certain terms and conditions.  

The following are the steps to successfully renew your general insurance policy or motor insurance or health insurance online on the Oriental Insurance Company website.

Go to the Oriental Insurance web portal and click the renewal page
There are two options for insurance renewal: one is the renewal of the current policy with Oriental and the other option is the renewal of policy that was originally issued by a different insurer. The second option is for the customers who would like to switch over to Oriental Insurance.
Choose the relevant option to proceed with the renewal
Follow the instruction given on screen and navigate rightly
With the last click, the customer is redirected to a third party payment gateway.
Once the procedure is complete you will receive a confirmation.

Once the payment is received by the Oriental insurance company, an e-copy of your insurance policy is sent to your email address. This copy will be digitally signed. Apart from this, s signed and sealed hard copy will be mailed to your residential address.

The documents required to renew your policy online successfully include:

Current Policy documents 
Bank account details
Card details
Mobile for OTP passwords 

In case you forget to renew your general insurance policy or any other policy within the given term a fresh insurance can be taken for all expired policies. 

In case of a motor insurance, the vehicle will be inspected by the company representatives before issuing a fresh policy. The same applies to all other policies. This inspection, however, comes at an extra cost. 

It is important to check the expiry date of all your policies and renew it on time to avoid mishaps in the future.

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Monday, 16 April 2018

Who Are the Best Health Insurance Providers in India?

The list of health insurance providers in India is very long and all the listed companies claim that they provide the best health insurance plans. In absence of any specific method to test their truth, it is very difficult for the general public to separate one from the other and choose the best one for them. 

But there is an Insurance regulatory authority called IRDA (Insurance Regulatory Authority of India) which issues a list of authenticated and trusted health insurance companies in India from time to time. So if you are in search of some best health insurance plans or providers, you can refer to this list of IRDA. 

The IRDA has formed this list of best health insurance companies based on various factors like Claim Ratio, performance, overall benefits received by the customers and the benefits offered etc. So here is a list of six best health insurance providers in India. Maybe, this list will help you to choose the best health insurance plans for you and your family. 

1. Max Bupa Health Insurance Company Limited:

Max Bupa Health Insurance Company is located in about 190 countries worldwide. This company has been formed by a tie-up between Max and Bupa healthcare service providers in the UK. Apart from health insurance, the company has an expertise in other insurance-related services like clinical research, life insurance etc. 

In recent past, this company had an Incurred Claim Ratio of about 55.16%. The company provides its customer with a variety of health insurance plans to choose from like ‘Health Companion Individual’, ‘Personal Accident – Health Assurance Insurance Policy’ etc. 

2. Apollo Munich Health Insurance Company Limited:

You must have heard about the Apollo hospitals for sure, haven’t you? Apollo Munich Health Insurance Company Limited is a combined undertaking between the very famous Apollo hospitals and Munich Re (a German company). The health insurance plans offered by this company are exceptional and meet the expectations of all. In the recent past, the company had an Incurred Claim ration of 63.03% and it has also added some additional benefits like lifelong renewability and portability. The health insurance plans of the company are as follows:

Apollo Munich Optima Restore Health Insurance Plan
Apollo Munich Vital Optima Insurance Plan
Apollo Munich Optima Plus Insurance Plan
Apollo Munich Senior Optima Insurance Plan
Apollo Munich Optima Cash Insurance Plan
Apollo Munich Optima Super Insurance Plan
Apollo Munich Health Easy Premium Plan

3. Star Health and Allied Insurance Company Limited

With no famous name attached to the name of the company, this company is formed as a combined undertaking between many famous and trusted companies of India. It is a combined undertaking of Tata Capital Growth Fund, Sequoia Capital, ICICI Ventures Funds Management, Oman Insurance Company and Alpha TC Holding Pte Ltd. In India, it is one of the first standalone insurance firms. 
The best thing about this company is that it supports the direct in-house settlement, instead of a third party settlement option. Immediate access to cash-less hospitalization facility is loved by one and all. The company provides a comprehensive and a long list of health insurance plans, which can be researched and matched to suit your needs. The company had an Incurred Claim Ration of about 63.96 % in the recent past. 

4. Religare Health Insurance Company Limited

This company has set a benchmark in the insurance sector of India. It has achieved a very high growth in a very short time period. Its Incurred Claim Ratio in the nearest past is 61.13%. The company is continuously backed by the Fortis hospitals. The three of its major stakeholders are:  Union Bank of India, Corporation Bank, and Religare Enterprise Ltd. The company is located at more than 1690 locations in India. There are mainly 5 health insurance plans to choose from, namely – Care, Joy, Enhance, Assure and Secure. These plans are regularly appreciated by its clients. 

5. ICICI Lombard General Insurance Company Limited:

‘Health Advantage’ of the ICICI Lombard is the most embraced health insurance plan of the company. The plan offers that in any medical emergency one can get a full coverage for expenses. The expenses cover in its ambit a lot of charges like room rent, hospitalization, ambulance and dental charges etc. If we talk about its Incurred Claim Ratio in the recent past, it was about 87.38%. Isn’t that amazing? The company is trusted in India by most of the big enterprises.

6. Bajaj Allianz General Insurance Company Limited:

There are many health insurance plans offered by the Bajaj Allianz Insurance Company, but there are 3 special health insurance plans which are appreciated by all, namely – Star, Silver Health and Health Guard Package. This company was the first to provide the TPA services. In the recent past, the company had an Incurred Claim Ratio of about 73.59%. The additional services offered with the plans is also very appreciable. 

Hope the information provided in this article is useful for you. You can research about these health insurance companies and find the detailed health insurance plans offered by them. Family floater plans provided by all of these companies are really useful for all family persons. Opt for the plans with distinction and discretion by comparing all the plans offered by these best health insurance companies.

For more details check ​PolicyBazaar Reviews & Ratings

Wednesday, 11 April 2018

New India Assurance - Features and Benefits

Established in 1919 by Sir Dorabji Tata, New India Assurance, headquartered in Mumbai is a wholly government owned general insurance company. With operations spread across 22 nations, they are one of the most reputed insurance groups in the international market as well.

With over 160 products to offer, they have been pioneers in the non life segment over the years.


Some of their Firsts :

In 1946, became the first ever insurer to set up an aviation insurance department.
First insurers to manage all the needs of the Indian Shipping fleet.
The only insurers to set up their own training school.
The only company with offices spread across 28 countries like UK, Thailand, Australia, Mauritius, Philippines, New Zealand and UAE.
The only insurer in India rated ‘A’ by A.M Best.


Policies are issued within 7 days of premium acceptance.
Renewal notice sent 15 days before policy expires.
Decision about acceptance of proposal is communicated 7 days of submission.
Claim status is sent out within 3 days after request is received.
Claim amount is paid within 3 days of request received.
Investigation starts within 48 hrs of claim intimation.
New India Assurance customer care is available 24*7*365 on the website/toll free helpline no. for any guidance/queries.

Features of General Insurance Policies of New India Assurance

New India Assurance Health Insurance Plans

Family Floater Mediclaim Policy 

Available to persons in the age group of 18 - 60 years.
Covers spouse and upto 2 dependent children under one sum insured.
Covers pre and post hospitalisation expenses, day care treatment , ambulance charges, ayurvedic, homeopathic and unani treatments upto 25% of sum insured.

Janata Mediclaim Policy

Available to persons in the age group of 18 - 60 years.
Children between 3 months - 18 years covered, if the parents are covered at the same time.

Senior Citizen Mediclaim Policy

Available to citizens between 60 - 80 years.
If renewal continued without break, policy can extend upto 90 years.
Pre acceptance health checks are waived off if the proposer already has medical insurance with New India Assurance in continuity.

New India Assurance Top Up Mediclaim

Available to persons in the age group of 18 - 65 years.
Covers in patient hospitalisation expenses incurred in India.

Asha Kiran Policy

Available to parents in the age group of 18 - 65 years who only have girl/s as children.
Girl child can be covered between 3 months - 25 years.
Covers unforseen hospitalisation expenses and accident coverage to the parents.

New India Assurance Group Mediclaim Policy

Targeted to corporates and business enterprises who need coverage for their employees or selected individuals.

Car Insurance Plans

Comprehensive plan offers third party coverage as well as coverage for the occupants and the vehicle.
Liability only policy will only insure against third party liability.
Covers cars, two wheelers, commercial vehicles as well as garage & showroom vehicles.

Travel Insurance

Overseas Mediclaim Plan

Available for international travel by corporates prior to departure.
Covers medical expenses incurred overseas due to injury, disease or sickness contracted on travel.
Premium paid in INR and claims settled in foreign currency.

Suhana Safar Policy

Aimed at domestic travel upto 60 days within India from the date of departure to the date of arrival.
Covers all modes of transport.
Covers the insurer, spouse and dependent children for personal accident and damage/loss of luggage.

Home Insurance Plans

New India Assurance Householder’s Policy

A combination of standard policies in a single policy.
This package policy is composed of 10 sections.
Based on the number of sections opted for by the proposer, discount on premium is offered.

Personal Accident Plans

New India Assurance Rasta Apatti Kavach (Road Safety Insurance) 

It covers hospitalisation or treatment expenses caused by road accidents.
Provides compensation for death & permanent disability as well.
Sums of Rs 25000/50000/75000/100000 can be insured on an annual basis.

Personal Insurance Plans

These are specific plans that provide additional coverage for an individual

Money Insurance 
TV/VCR Insurance 
Phone Insurance 

Commercial Insurance 

These policies offer a range of customized plans for commercial enterprises. Some examples being :

Jewelers Block Policy 
Banker's Indemnity Policy 
Shopkeeper’s Policy 
Fidelity Guarantee Policy 
Aviation Insurance Policy 
Marine Hull Policy 

Social Insurance Plans

These policies are meant to protect the economically weaker sections of the society. In some cases, they provide coverage for specific social causes. Some of these are :

Rural Insurance 

For more details check ​PolicyBazaar Reviews & Ratings

Five Compelling Reasons To Get Health Insurance In Your 20s

Health insurance covers the cost of medical care. It is difficult to predict your health even though you manage an active lifestyle and do not pose hereditary risks. As per the type of insurance plan, the coverage extends medical and surgical expenses. Based on the terms of the policy the insured will pay the hospitalization bills and the insurance company will reimburse the costs.

Before subscribing an insurance policy, you should be aware of the features of the insurance policy. The chances of rejection are low when you pursue insurance policy during the 20s. You can go for the best medical insurance policy even though it is not the least expensive policy. The policy should be subscribed as per your current financial capability and future risk coverage. If plans are offered by employers, you should go for them based on their merit. In some cases, you might want to go for additional health plans in addition to the plan provided by the employer.
The following reasons compel a person to consider health insurance during the 20s:


You will explore and experiment various things during the 20s. However, the money can be spent in a very efficient manner. If you take an insurance plan when you are young and active, the premium amount will be very low. At a low premium, you will enjoy higher benefits.  
·        The health will go down with the progress in age. Hence, medical attention is required quite often. During the 20s, the chances of getting ill or sickness will be very low.
      The premium amount for health insurance is based on the risk factor associated with the insured. If the risk is low, the premium amount will be low.
·        As the chance of claims by people during 20s is low, less premium will be collected by insurance companies.
      When you go for a health insurance plan during the 20s, you will enjoy low insurance premium and you will enjoy higher insurance cover.

No waiting period
·        Health insurance will be offered by the insurance company with a 30-day waiting period. If you are issued an insurance policy with a waiting period, you will not be able to claim the insurance cover during the waiting period. Even though there is a medical emergency, it is not possible to claim the policy during the waiting period.
      The waiting period varies as per the type of disease and it varies from one insurance company to another company.
·        The waiting period time frame can be surpassed very easily when you go for a health insurance plan at an early age.
·        Hence, it is ideal to go for a health insurance plan during the 20s so that you will enjoy insurance cover at a lower premium and you can easily exceed the waiting period for various kinds of diseases.

Income tax benefits
The health insurance coverage will help you claim income tax deductions under section 80D of the income tax act, 1961. Instead of spending money on taxes, you can invest in future health expenses. Hence, it is considered as a wise investment option.
·        The earnings will increase at a consistent pace from the 20s and it will be at the lowest ebb after retirement.
·        The premium paid towards health insurance will be exempted from income tax and you can increase your saving potential on annual basis.

Diverse options
A young person can exercise a wide range of options in the selection of the insurance policy and features. The application of health insurance plan from a young person is readily accepted by most of the insurance companies. After reviewing the best insurance policies offered by various agencies, you can go for the best policy as per your needs.
·        The health insurance policy can be customized as per your needs.
·        As you go for a health insurance plan at a young age, you will be able to get benefits throughout your life.
·        You will get better renewal facilities when you buy an insurance plan during the 20s.

Financial planning

The insurance policy will help you accomplish financial planning in a very efficient manner. If you incur major health issue in the coming days, it will be covered by the insurance policy so that there will be less financial stress.
      You will buy insurance policy willfully and will enjoy great peace of mind.
·        It is possible to support your family by being covered by a comprehensive health insurance plan.
If a person suffers from a serious health condition, the insurance policy proposal will be rejected by the insurance company. When you subscribe a health insurance policy during the 20s, it can be considered as a ‘value for money’ product. As you are required to diversify your investment options, you can consider health insurance one of the prime components of your investment option. Even though the financial returns are low with a health insurance, the objectivity is highly elated during the stressful time when the risk takes place.

To buy or renew insurance plans, you can check out the reviews of policybazaar 

Friday, 6 April 2018

Still staying with the same motor insurance policy? Here are the pros and cons you should know

Many people do not have enough knowledge about motor insurance plans available in the market and they just manage with whatever they get from the nearest source. This can put you in lot of trouble if you are not choosing the suitable plan for your vehicle. In some cases, it may not be giving you the best value for your money and you need to analyze this factor carefully with your existing car insurance plan. The simple act of comparing your plan with other plans from competitors will help you to understand the worthiness of your plan. If you find that what you are having is good enough for your vehicle, you can continue to stay with the same plan. On the other hand, when you are not satisfied with some of the features of your existing plan, you can easily choose better options as there are many service providers in the market. In this regard, let us take a detailed look into the advantages and disadvantages of sticking to your existing vehicle insurance plan.

Pros of staying with the same motor insurance policy

There are few advantages of staying with the same company for your motor insurance policy. The car insurance rates will remain more or less same and you will not have to search for new options every year. This offers convenience for many consumers and they are more than happy to just renew their policies with the same service provider.

Advantage of getting no claim bonus
One thing you need to understand about motor insurance is that you may never use the insurance throughout the year if you do not face any damages due to accident or theft. In this scenario, the company is likely to reward you by offering lower premium rates for the renewal of the policy. This encourages safe driving habits among consumers and the car insurance rates will decrease if you do not make any claims for the entire tenure of the policy.

No drastic increase in premium even after accident claim
Even when you have to make a claim due to accident, the premium for the next year will not go drastically high as the company will reward loyalty. In some cases, they may even consider keeping the same rates for the premium if the claim amount is not very high. In this situation, you will have the advantage of paying same car insurance rates even after making accident claims. This may not be possible with a new service provider and you will end up paying additional premium when you have made claims in the previous year.

No paper work involved every year
Many people are fed up with lots of paper work to be done for the insurance policies. When you stick with the same service provider, you will have very less paper work and you can easily renew the policy without any hassles. In most cases, you can even do the online renewal without the assistance of any agent. This is a convenient option if you are very busy to search for a new service provider.

Overall cost of getting insurance decreases

Remember that when you want to change your insurance service provider, you will have the start the process from the beginning and this may involve additional charges apart from the regular premium charges. Sometimes, you may not notice these hidden charges when you are presented with attractive car insurance rates from the new service provider. You need to be careful and avoid such things as much as possible. When you stay with the same service provider, you will not have these additional hidden charges and the overall cost of the policy is likely to reduce by a huge margin.

Cons of staying with the same motor insurance policy

While there are certain advantages of sticking with the same service provider, you need to understand that there is huge competition among service providers in the market and you will be missing out on new and attractive features.

You may not be getting the best deal

The market has opened up with regards to auto insurance in India and you have to be updated with the latest offerings from different service providers. When you are staying with the same policy, you may be continuing with the old features and you will not be able to get the best deal for your vehicle. This will not provide the full value for your money in the long run. You can negotiate for discount with a new service provider and also get various additional features that are not available in your existing plan. The car insurance rates may also reduce by a huge margin if you are able to find the suitable service provider for your vehicle.

You will be missing out on new options in market
Many service providers offer additional riders that offer various benefits for the consumers. You can thoroughly research the market conditions and understand the new options available for your situation. This is not possible when you blindly renew your policy with the existing service provider. You need to consider the advantages of getting service from a new service provider for your vehicle. This can help you to get new features added to your policy that is usually not possible with your current service provider.

In this manner, you need to take the suitable decision after considering the pros and cons of shifting to a new service provider. If you notice that the car insurance rates are not changing drastically even when you are shifting to a new company, you can stay with the same service provider as it will give you many advantages in the long run. In the same manner, if you have more than one vehicle, it makes sense to stay with the same company for both the vehicles as this may give you additional discount with regards to reduced premium. Before you plan to move to a new policy, get in touch with a professional advisor and discuss your plans. This can give you the complete value for your money spent on the insurance policy.

Thursday, 5 April 2018

Health Insurance Essentials for Business Owners

Medical insurance provides financial security to employees. The unforeseen risks are covered by the group policy offered by the employer. The employer will also manage a group policy to take care of self and family needs. However, the group policy will not cover critical illness and other benefits. If the business owner suffers sickness or disease which is not covered by the insurance plan, there will be a huge financial loss. It will affect the profitability of the organization as well. Hence, a prudent business owner will go for the best insurance plan as per his or her needs!

Benefits of individual health insurance plan

There are many benefits with an individual health insurance plan. The stress levels in the corporate sector are very high and you should take steps to manage good health. In spite of taking best precautionary measures, it is impossible to prevent sickness or disease. The rising healthcare costs will also compel you to go for a comprehensive insurance policy so that you will have great peace of mind. You can buy Hdfc Ergo Health Insurance plan online and the company offers the best support for filing claims. The existing primary health can be supplemented by going for top-up and super top-up plans.

Review your insurance requirements

A wise business owner will assess his current and future health insurance needs. The premium paid on health insurance should be considered as an asset but not a liability.
As a business owner, you should fulfill the insurance needs of your employees as well as your own needs. You should go for the best group insurance policy to offer protection for employees. An individual policy should be subscribed to protect the business owner’s interests as well.

The selection of health insurance plan
  •        The selection of health insurance plan should be done as per your budget.
  •        The requirements of the business owner, his/her family members, employees and dependents should be fulfilled by the policy
  •        There are certain benefits which should be included without fail and certain benefits can be considered as optional
  •         The group health insurance plan can be 100% sponsored by the employer or a portion of the premium can be borne by the employee
  •         The budget of the business for group insurance plan
  •         The differences between your family and the employers in terms of requirements of health risk coverage should be figuredout.

Affordable group insurance plan

After subscribing a group insurance plan, most of the general sicknesses and illnesses will be covered. The greatest advantage of the group insurance is that the existing ailments will be covered by the insurance company. However, you should go through the terms and conditions mentioned in the policy very carefully so that there will not be any disappointment in the coming days!
The group health insurance plan is very much affordable. The premium amount will be low and the coverage will be high.  In fact, the premium amount will decrease with the increase in the number of subscribers.

Top-up health insurance plans

Employees, as well as business owner, can go for a top-up plan to enhance the coverage. If the group policy covers an amount of Rs. 2 lakh, the insurance cover can be extended further by going for a top-up plan. The premium for the top-up plan will be very low. If the hospitalization expenses are above the maximum cover offered by the first insurance plan, the remaining amount will be paid by the top-up plan.

It is possible to subscribe the super top-up plan as per your needs. The super top-up allows you any number of claims as long as the total claim amount does not exceed the sum assured.

Best health insurance policy

You can buy best health insurance plan from many insurance companies such as Hdfc Ergo Health Insurance.

  •         A wide range of health insurance plans (silver, silver regain, gold, gold regain, super top up, and classic) are offered by the HDFC Ergo.
  •         The indemnity benefits offered by the plan include rehabilitation, follow-up medical investigation, dietary supplements, purchase of ergonomic furniture, modification of house, blood pressure monitoring devices.
  •         The critical illness plan covers heart attack, stroke, coronary artery bypass surgery, cancer, paralysis, Alzheimer's disease, Parkinson's disease, Multiple sclerosis, and Primary Pulmonary Arterial Hypertension.
  •         The comprehensive health insurance policy covers the cost of hospitalization. It will cover the in-patient treatment and pre and post hospitalization expenses as well. It is also possible to cover day care procedures and domicile treatments with the help of the insurance plan.

As per the advancement in technology, the treatment cost has increased. Hence, it is advisable to cover critical illness with an individual policy. The group insurance will give protection to common ailments. It is very much important to assess your health needs and you can go for best Hdfc Ergo Health Insurance plan for business owners