Company veteran takes on expanded role
from Insurance Business https://ift.tt/j9Wb7Sx
via IFTTT
Thursday, October 20, 2022
AGCS taps product lead for live events
Exec will be responsible for global live entertainment products
from Insurance Business https://ift.tt/cWhLrkA
via IFTTT
Allianz breaks down sustainability of auto insurance
Insurance giant calls for more EVs, "green repairs"
from Insurance Business https://ift.tt/uWPVCzc
via IFTTT
Nature-based solutions could be vital to energy transition – Zurich
Biodiversity makes for more effective carbon markets, insurer says
from Insurance Business https://ift.tt/Rc4ijeT
via IFTTT
Is It Possible to Buy Term Insurance Without a Medical Test?
Term insurance is an important investment to secure the future of a family in the absence of the head earning member. Let’s find out if you can avail term plans without medical check-up in India in this post.
Term plans safeguard your near and dear ones in the event of uncertainties and since there is no certainty of uncertainties, it is important to stay prepared. Thus, most people prefer to buy term plans to cover their families with protection in case of any untoward situation and when they are not around to support their families. But one prominent question that people ask or are worried about while buying term plans is – Can they buy term plans without a medical check-up?
Table of Contents
- Term Plans with No Medical Check-up
- Can I Buy a Term Plan Without Going Through Medical Tests?
- Process to opt for Term Plans without Medical Tests
- Things to Consider while Buying Term Plans Without Medical Check-up
- Term Plans available in India Without Medical Check-up
- How to Choose Term Plans without Medical Check-up?
Term Plans with No Medical Check-up
These days there are several insurance providers who are offering term plans without a medical check-up. With term plans that are available without medical tests, the insured doesn’t have to go through any medical examination to buy a term life insurance policy. In this case, the insurer allows the individual to buy a term plan by considering the age and coverage amount along with overall health of the insured. However, in case the potential policy buyer is suffering from any kind of prolonged illness or a medical condition, the person might have to go through the medical examination before buying the term plan.
Can I Buy a Term Plan Without Going Through Medical Tests?
You can definitely buy term insurance without medical check-up from insurers who are offering such plans. The age of the potential buyer and the coverage amount of the policy are the two deciding factors when it comes to buying a term plan without medical insurance. Depending on these two factors it is decided whether you have to go through a medical screening or can do without it. But for people suffering from any pre-existing illness or a persistent disease has to undergo the process of medical screening.
Thus, if you are not suffering from any diseases, compare the various plans of term insurance without medical tests before buying the best policy.
Process to opt for Term Plans without Medical Tests
Here are the 5 steps to follow:
- The first step is to look for term insurance plans by means of a survey
- Get the details of various insurers offering policies without medical tests
- Now, make an assessment of your exact requirement of the term plan
- Based on your requirement, accomplish your research to find the policy
- Finally, you can close on the plan of life insurance without medical check-up that you would like to buy
Things to Consider while Buying Term Plans Without Medical Check-up
- Do not give any false information – Insurance is such a delicate subject matter that requires complete transparency. If you do not provide accurate and proper information to your insurer at the time of buying a policy, it might later bring upon you or your nominee some grave issues. In case of term plans with no medical check-up, it is all the more important to offer the correct information. So, you must not hide if you have any kind of pre-existing diseases or any other ailments from your insurer. Hiding such facts might be easy initially, but it would bring upon a huge financial burden on you in the event of any misfortune.
- Premium depends on lifestyle habits – The premium amount levied on the policyholder in case of term insurance plans without medical check-up also depends on the lifestyle habits of the insured. So, for a chain smoker the premium might be greater as compared to those who do not smoke. However, it doesn’t affect the death benefit received by the nominee.
Term Plans available in India Without Medical Check-up
Below are some of the best term insurance plans available in India without medical check-up:
| Term Insurance Plan (With No Medical Test) | Details |
| ICICI Pru ICare Term Plan |
|
| MetLife Term Insurance Plan |
|
| Future Generali Smart Life |
|
| HDFC Click2protect Plus Plan |
|
| LIC tech Term Plan |
|
How to Choose Term Plans without Medical Check-up?
Below are some points to remember while choosing a term plan without medical tests:
- To choose the best term insurance without medical check-up, you can do a comparison of plans online.
- You should know your requirement and accordingly choose the coverage amount to avoid medical tests.
- It is recommended to buy a term plan at a young age.
- You should also choose a high sum assured to skip medical tests.
Read More: Benefits Of Choosing A Term Insurance At Younger Stage Of Life
To Sum Up
Term life insurance plans are important financial securities that require prudent understanding and comparisons to be done before you buy the plan. Having a term plan is very important for securing your family and for financial planning as well.
With term life policies available without medical check-up, it is easy for people to avail them to safeguard their family at cost-effective rates.
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
Visual Stories
View this post on Instagram
The post Is It Possible to Buy Term Insurance Without a Medical Test? appeared first on Paybima Blogs.
Family Health Insurance Policies in India – Inclusions and Exclusions
Learn all about health insurance plans for families in India, what they cover and what is excluded under the policy.
Health insurance is one vital document that every person must possess. And not just for themselves but also for their entire family. This is because good health is valuable to everyone and it is essential that your complete family stays fit and healthy for a long time to come. Keeping in view its indispensable nature today, insurance companies issue health insurance plans for families to provide coverage and protection to the entire family.
These plans offer a number of advantages over single health insurance policies and are becoming widely popular among the population. Here we discuss family health insurance policies, highlighting what is covered and what not under these plans to help you make an informed decision before buying.
Table of Contents
What is Mediclaim Policy for Family?
As stated earlier, it is of vital concern to one that his/her family remains healthy at all times. This is why more and more people are opting for family medical insurance to help cover any emergency medical care costs of any family member in the future.
Health insurance plans for family are designed to provide cost coverage to your entire family under a specific predetermined sum insured. The plan covers an entire range of treatment options such as in-patient hospital stay, expenses incurred during pre- and post-hospitalization duration of the treatment as well as daycare costs, including OPD consultations.
Inclusions Under Health Insurance Plans for Family
Let us take a look at the various items covered under the family health insurance policy:
- All daycare procedures, such as radiotherapy, balloon sinuplasty, chemotherapy, and the like, which can be performed without the need for stay at the hospital for at least 24 hours, are all covered under these plans.
- Treatments that require hospitalization for at least 24 hours running are covered under family health insurance plans. The cost for such in-patient treatments are covered by the policy.
- Organ donation expenses are also provided for under the health insurance plans for family.
- All expenses incurred before and after the hospital stay, which include consultation with the doctor in the OPD, taking diagnostic tests/X-rays, and the like, are also covered by the plan.
- The cost of transferring the patient in an on-road ambulance to the nearest hospital during a medical emergency is covered under family floater health insurance.
Exclusions Under Family Health Insurance Policies
There are some areas of medical treatment that may be left out or not covered under family health insurance plans. It makes sense to look at them before choosing to buy a health insurance plan for your family:
- All costs incurred in the treatment of diseases like HIV/AIDS may not be a part of family health insurance coverage.
- The insured may not be provided financial protection for any treatment undergone during the waiting period – the mandatory time duration that a policyholder needs to wait for before raising claims with the insurance company. This waiting period may apply in case of pre-existing illness or some particular diseases not covered under the insurance plan.
- In case the insured gets injured due to causing harm to oneself, such as in the case of suicide, he/she may not be entitled to receive coverage for cost of treatment for such self-inficted injury.
- Any cost incurred on minor/major injuries caused during participation in adventure sport activities like parasailing, rock climbing, and the like, are excluded from family floater health insurance plans.
- If the insured is reported to experience a health condition or ailment on account of excessive consumption of harmful substances like tobacco, drugs, and the like, he/she may not be covered under the plan protection.
Best Family Cover Health Insurance Plans
We talked about all that family health insurance plans cover and exclude from coverage. Now let’s look at some of the best mediclaim policy for family that you may consider buying:
| Name of the Plan | Total Sum Insured Under the Plan |
| Niva Bupa Heartbeat Family Floater Plan | Max limit Rs. 50,00,000 |
| Aditya Birla Activ Health Platinum Enhanced Plan | Between Rs. 2,00,000 and Rs. 2,00,00,000 |
| Manipal Cigna ProHealth Premier Plan | Rs. 1,00,00,000 |
| Care Advantage Plan | Max limit Rs. 1,00,00,000 |
| Star Family Health Optima Plan | Between Rs. 3,00,000 and Rs. 25,00,000 |
Who is Eligible for Family Floater Health Insurance Plans?
Anybody who is 18 years or above is eligible to apply for a family health insurance plan in India. The dependents provided coverage under the plan should ideally be between the age of 91 days up to the maximum age limit of 65-75 years. This essentially implies that both children and senior citizens can be provided financial protection under the plan.
The scheme has been designed keeping in view that both these members of the family need financial assistance at this stage of their life. Hence, family floater health insurance plans provide that much-needed assistance, helping these sections of the population to cover the high-rising costs involved in the treatment of certain health conditions.
Read More: Family Health Insurance Benefits and Advantages
In a Nutshell
Family health insurance serve as a huge relief for the primary earring member of the family on whom most of the family’s dependent members rely. With these insurance plans in place, the person can hope to relieve some financial strain off their shoulders. Make sure to check online which mediclaim policy is best for family, considering your individual family needs, and choose the one that serves your purpose better.
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
Visual Stories
View this post on Instagram
The post Family Health Insurance Policies in India – Inclusions and Exclusions appeared first on Paybima Blogs.
Top LIC Insurance Policies For Girl Child and Their Basic Details
To give wings to the dreams of your daughter so that she can excel in life and secure her career, it is important for the parents to avail the best LIC insurance policy for girl child. Let’s discuss them here.
Girls these days are career minded, independent and self-sufficient. They are achievers and excels in every sphere. All that they need is the right direction and little support from parents. Hence, it is important that parents should allow them the independence to choose a career of their choice in different fields. And for this they must invest in the best policy from LIC so as to secure the future and life of their daughters. With LIC policy, you can ensure to support your daughter financially even if you are not around.
Since no one can predict life and the unforeseen events that may arise, it is better to stay prepared. And the best way to secure your little one from any misery in life is to seek the support of insurance policies in the form of LIC’s best child plan. So, parents, especially of girls should ensure high protection by picking the right insurance plan for their daughters. This way they can protect their daughter from unnecessary struggles. Moreover, these LIC child education plans also support your child in achieving her career goals.
Here, choosing the right insurance company and a perfect plan is important. In this post, we are discussing some of the best LIC policies for children so that parents can evaluate them and make the right insurance decision.
Top 4 LIC Plans for Girl Child
Table of Contents
1.LIC New Children’s Money Back Plan
When it comes to life insurance plans for children, the LIC New Children’s Money Back Plan is counted as a significant name among the best LIC policies for a girl child. It is a traditional policy with survival benefit designed especially to cater to the needs of girls. It is a risk cover plan that provides life coverage to the child during the tenure of the policy. It also provides survival benefit if the policyholder survives the plan.
New Children’s Money Back Plan is a double benefit policy that offers both investment and insurance facilities. Being a participating plan, it allows the insured to avail bonus along with a lump sum cash at maturity. Thus, the plan could easily secure the future of the child till the age of 25 and support her to achieve targeted milestones.
In addition, the child can avail 20 percent of the sum assured at three different stages in life at 18, at 20 and at 22 years. Further, if unsatisfied the policyholder can withdraw from the plan within 15 days of purchase.
Key Features
| Minimum sum assured | INR 1 lakh |
| Maximum sum assured | No limit |
| Policy Maturity age | 25 years |
| Benefits | Survival, Death and Maturity benefits |
| Entry age (Min) | 0 |
| Entry age (Max) | 12 |
| Policy term | 25 yrs minus entry age of the child |
2.LIC Jeevan Taruny
Another good scheme of insurance for a girl child is the LIC Jeevan Tarun plan, which is a non-linked participating plan available with the option of limited premium payment. Like in the earlier case, this plan also offers the security of protection along with the benefit of savings. This plan is normally used by parents who want to secure their daughter’s higher education plans and career along with serving other purposes. The premium in this LIC plan for kids needs to be paid till the child is 20 years old, while the plan remains active till she reaches 25 years.
The risk cover on the plan starts when the child turns 8 or after 2 years of policy initiation, whichever is early. If the parents of the child die before the start of the risk cover, the nominee receives death benefit with no additional incentives. However, if the insured survives the policy term, he/she gets maturity benefit and other advantages.
Key Features
| Entry Age of Child | 5 yrs |
| Available options | 4 |
| Policy Maturity age | 25 years |
| Benefits | Survival (as per plan), Death and Maturity benefits |
| Premium payment | Yearly |
| Sum assured | INR 1 lakh |
| Policy term | 20 years |
3.LIC’s Aadhar Stambh
Aadhar Stambh, another LIC for children, is a non-linked participating policy with both savings and protection benefits. This plan secures a family financially in the event of a mishap along with accumulating wealth for future in the form of maturity amount received for surviving the policy. The sum assured for the policy is INR 75,000 (min) and INR 3 lakhs (max). The entry age of the policy is 8 years, while 55 years is the maximum age at which one can enter the plan.
| Entry Age (Min) | 8 years |
| Entry Age (Max) | 55 years |
| Policy Term | 10 yrs (min)., 20 yrs (max) |
| Maturity age | 75 years maximum |
| Benefits | Survival (as per plan), Death and Maturity benefits |
| Premium payment | Similar to policy term |
| Sum assured | INR 75,000 (min), INR 3,00,000 (max) |
4. LIC Jeevan Labh
Another beneficial policy for a girl child is the LIC Jeevan Labh plan that allows the child to get coverage at the age of 8. The plan is available with a minimum sum assured of INR 2 lakhs with no upper limit. Further, this policy allows the insured to avail loan facility during emergency. The maturity benefit under the plan is available in lump sum amount or in installments at three different stages of the child’s life including 16 yrs, at 21 yrs and at 25 yrs. Further, this attractive policy also allows the insured to avail different riders as per choice. The minimum term of premium payment under this plan is 10 years, while 16 years is the maximum term.
Key features
| Entry Age (Min) | 8 years |
| Entry Age (Max) | Depends on plan |
| Policy Term | 16, 21, 25 yrs |
| Premium Paying term | 10, 15, 16 years |
| Benefits | Death and Maturity benefits, Tax benefit |
| Sum assured | INR 2,00,000 (min), Max no limit |
Read More: Life Insurance Glossary A to Z You Should Know
To Sum Up
LIC is a renowned and trusted name in India and one of the earliest insurance companies in the country. LIC offers a range of policies at affordable charges, including several beneficial and best LIC policies for children. However, the potential policy buyer should compare the plans and their features before buying it.
LIC’s insurance policies can be bought online or offline depending on the feasibility of the policy buyer. A buyer is expected to read the policy papers properly while buying a LIC policy for their child and should choose the premium as per their needs.
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
Visual Stories
View this post on Instagram
The post Top LIC Insurance Policies For Girl Child and Their Basic Details appeared first on Paybima Blogs.