Traveling has become an integral part of our modern society. We could be traveling for reasons like a business trip or a much-awaited vacation. But one cannot deny the fact that there are several things that could go wrong when one travels. Disruptions like cancellation of flights, loss of baggage, medical emergency- are some of the unforeseen events that could catch you off guard. So whether you are off to your favorite destination for a holiday or going on a business trip - adequate & complete travel insurance is a must-have.
Key Features of Travel Insurance
1) Coverage offered for medical expenses.
2) Coverage for expenses related to trip delays
3) Coverage for loss of passport and luggage
4) For contingencies related to personal possession
What is Motor Insurance?
Motor insurance policy is mandatory for vehicle owners as per the Indian Motor Vehicles Act 1988. This Plan is designed to give coverage for losses which insured might incur in case his vehicle gets stolen or damaged. The amount of motor insurance premium is decided based on the Insured Declared Value of a car. The premium will increase if you raise the IDV limit and vice versa.
Why do I need to ensure my vehicle?
Motor insurance is mandatory for all vehicles that ply on roads-like car, trucks, etc. The prime objective of this type of insurance is to provide complete protection & coverage of physical damage or loss from man-made & natural disasters. According to the Indian Motor Act 1988, an motor insurance policy is mandatory for every automobile owner in the country. Hence, purchasing motor insurance is not just a necessity, it is mandatory by law.
Important points to remember in the event of an accident
These documents must always be in your vehicle:-
1) Copy of policy/cover note
2) Car Registration Copy (RC Book)
3) Driving License Copy
To Initiate The Claim Process
1) Get in touch with the contact center & inquire for the network garage nearby. And in case, should you visit a non-networked garage, the bills will be settled after ascertaining the damages caused.
2) FIR may be asked by the Insurer based on the claim estimation.
Benefits of Group Mediclaim:
Group Mediclaim Policies normally offered by an Employer to their Employees and sometimes it covers their family like Employee’s Spouse & their Children.
The policy is on the Family Floater basis and the sum insured varies based on Cadre.
Hospitalization – Minimum 24 Hrs. hospitalization is required to be eligible for the claim. All the expenses including Room rent, Doctor Fees, Medicines, Lab Reports, Anesthetist fees, Surgeon Fees, OT Charges will be paid by the Insurance Company.
No Sub-Limits & No Co-payment on the claim settlement as it is the Group Policy
Pre & Post Hospitalization expenses covered for 30 days & 60 days respectively
No waiting period such as 30 days, 1, 2 & 4 Years for any claim.
Pre-Existing Disease will be covered from day one.
Maternity Benefit can be payable for Normal & C’ Sec and up to two children only. Pre & Post Natal is covered within the Maternity Limit.
Day Care Procedure is covered
Any addition for New Employee, Spouse and Children would be allowed within 45 days of the date of Joining, Marriage/Birth respectively.
Since it is a tailor-made policy, we may alter any benefits before signing the proposal.
Benefits of Group Personal Accident:
Since it is a tailor-made policy, we may alter any benefits before signing the proposal
Accidental Death @100% Sum Insured
Permanent Total Disablement @125% of Sum Insured
Permanent Partial Disablement (as per PPD Table of benefits)
Temporary Total Disablement - Weekly compensation lower of 1% of sum insured or Rs.5000 eligible maximum up to 100 weeks
Education Benefit up to Rs.5,000/- per child
Accidental Hospitalization – No sub-limits on any expense and room rent restrictions. *