Health insurance takes care of your medical expenses and ensures that out-of-pocket expenses are curtailed up to the Sum insured
A health insurance policy ensures that you can avail cashless treatment at a network hospital, typically covering 30 days and 60 days pre and post hospitalization, respectively, in most of the Health Insurance plans.
One can add value to the Base Health Insurance Plan by complementing them with additional benefits such as Super Top Up, Personal Accident (PA) Cover, Critical Illness (CI) Cover, etc. These products are available at a very nominal cost adding benefits, which are not a part of the Base Health Insurance plan.
One can also invest on one of the popular senior citizen health insurance policies and ensure comprehensive security for their elderly parents or secure their old age that often brings along several ailments that require expensive medical treatment
Health Insurance plans have enhanced offerings to cover a wide spectrum of requirements, like a family health plan offers complete cover to all members of a family under a single umbrella.
Term Life insurance provides coverage for a fixed period of time at a fixed premium rate. In case of untimely death of the life insured during the policy term , the nominee of the life insured gets the Total Payout/Benefit. The benefit can be paid out as a lump sum payout or a combination of Lump sum & Monthly payout or only as a Monthly payout. Therefore Term insurance plans are said to be pure protection plans which ensure financial stability of the dependants in case of untimely death of the life insured. Benefits of Term Life Insurance Death Benefit: In the unfortunate event of death of life insured during policy term, the nominee shall receive the Total Pay-out as a Lump sum amount or a combination of Lump sum & Monthly amount. Lump sum amount to take care of immediate financial liabilities. Monthly income to sustain the family lifestyle. Tax Benefit: The premiums paid for Term Life Insurance are Tax free under section 80(C) upto an amount of Rs 1,50,000. Rider Benefits: Riders are an important addition to the basic plan offering & provide an option to customize the coverage to the life insured. Accidental Death Benefit rider offers an additional sum assured over the base plan offering in case death occurs due to an accident. Accidental Disability rider offers an immediate lump sum payment on occurrence of any disability due to an accident. Critical Illness rider offers an additional sum assured over the base plan offering if the life insured is diagnosed with one of the critical illnesses mentioned in the rider. Waiver of Premium rider offers the waiver of all policy premiums in case the life insured is diagnosed permanent disability or critical illness. Option to increase Death benefit: Certain plans have offerings where the life insured can increase the life cover at key stages in life like marriage, birth of child. Key Terms when comparing Term Life insurance plans Total Payout of each plan Premium amount paid for desired Total Pay-out Policy term offered High claim settlement ratio Riders offered with the plan
Group health insurance is purchased by companies & organisation to provide medical coverage to their employees.
Group health insurance provides coverage to employees from the day they join until the day they resign
The employer pays the premium amount of the group health insurance plan on the employee’s behalf.
Group health insurance policy benefits both employer and employee in different ways.
Employers can avail of tax benefits under Section 80D of the Income Tax Act.
Providing group insurance is one of the attractive perks of an organization, it helps in retaining old employees and attracting new ones.
Providing group health insurance to employees helps in generating goodwill among the office staff.
Insurance companies cover a huge number of people under one insurance policy, it becomes cost-effective for the employer to purchase the policy.
Only in case of a life-threatening disease or critical illnesses, the employer can opt for a corporate buffer, if the existing sum insured exhausts.
The employee does not have to go through any kind of medical screening before getting covered under group health insurance.
The group Mediclaim policy for employees provides coverage for pre & post hospitalisation expenses to the employees.
ESKP stands for Employee, spouse, kids and parents. Group health insurance coverage extends to these family members.
Unlike individual health plans, there is no waiting period for the specified ailments under a group health insurance plan.
Cashless claims can be done within 45-60 minutes if the insured employee goes to a network hospital for treatment.
Reimbursement claims can be done within 15 working days if the insured employee goes to a non-network hospital for treatment.
The employee’s new born baby gets coverage from the of his/her delivery.
1% of the sum insured coverage is provided for a normal room whereas 2% of the sum insured coverage is provided for ICUs. No capping for room rent is also provided by some of the insurers
Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing.
Risk Factors – Investments in Mutual Funds are subject to Market Risks. Read all scheme related documents carefully before investing. Mutual Fund Schemes do not assure or guarantee any returns. Past performances of any Mutual Fund Scheme may or may not be sustained in future. There is no guarantee that the investment objective of any suggested scheme shall be achieved. All existing and prospective investors are advised to check and evaluate the Exit loads and other cost structure (TER) applicable at the time of making the investment before finalizing on any investment decision for Mutual Funds schemes. We deal in Regular Plans only for Mutual Fund Schemes and earn a Trailing Commission on client investments. Disclosure For Commission earnings is made to clients at the time of investments. Option of Direct Plan for every Mutual Fund Scheme is available to investors offering advantage of lower expense ratio. We are not entitled to earn any commission on Direct plans. Hence we do not deal in Direct Plans. SID/SAI/KIM | Code Of Conduct
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