Insurance - WAY TO CREDIT

Why Insurance?

Safety and Protection

Life is very indecisive and has a way of throwing surprises at you. In order to be fully prepared to deal with issues in life, insurance is very essential.

Encourage Savings

Insurance is a great investment channel as well. Some of the insurance plans showcase itself about savings. Insurance encourages savings by reducing your expenses in the long run.

Secures Future Goals

How people give importance to his/her family and present life, as well as it is important to think about their future goals and situations. So, in this way insurance is most important for every one of us.

Types of insurance?

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Life insurance

Life insurance is a contract that offers financial compensation in case of death or disability. Some life insurance policies even offer financial compensation after retirement or a certain period of time

Types of Life Insurance

Term Life Insurance
Whole Life Insurance
Endowment Policy
Money-back Policy
Unit-linked Insurance Plans
Child Plan
Pension Plans

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General insurance

General insurance is a contract that offers financial compensation on any loss other than death. General insurance offers financial protection for all your assets against loss, damage, theft, and other liabilities. It is different from life insurance.

Types of General Insurance

Health Insurance
Motor Insurance
Travel Insurance
Home Insurance
Fire Insurance

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Life insurance

Life insurance is a contract that offers financial compensation in case of death or disability. Some life insurance policies even offer financial compensation after retirement or a certain period of time



General insurance

General insurance is a contract that offers financial compensation on any loss other than death. General insurance offers financial protection for all your assets against loss, damage, theft, and other liabilities. It is different from life insurance.

Life Insurance

Life insurance is a contract that offers financial compensation in case of death or disability. Some life insurance policies even offer financial compensation after retirement or a certain period of time. Life insurance, thus, helps you secure your family’s financial security even in your absence. You either make a lump-sum payment while purchasing a life insurance policy or make periodic payments to the insurer. These are known as premiums. In exchange, your insurer promises to pay an assured sum to your family in the event of death, disability or at a set time.

Types of Life insurance :

Term Insurance

It is the most basic type of insurance.

It covers you for a specific period.

Your family gets a lump-sum amount in the case of your death.

If, however, you survive the term, no money will be paid to you or your family.

Whole Life Insurance

It covers you for a lifetime.

Your family receives a certain sum of money after your death.

They will also be entitled to a bonus that often accrues on such amount.

Endowment Policy

Like a term policy, it is also valid for a certain period.

A lump-sum amount will be paid to your family in the event of your death.

Unlike a term plan, you get the maturity proceeds after the term period.

Money Back Policy

A certain percentage of the sum assured will be paid to you periodically throughout the term as survival benefit.

After the expiry of the term, you get the balance amount as maturity proceeds.

Your family gets the entire sum assured in case of death during the policy period. This is regardless of the survival benefit payments made.

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Unit-linked Insurance Plans (ULIPs)

Such products double up as investment tools.

A part of your premium goes towards your insurance cover.

The remaining amount is invested in Debt and Equity.

A lump-sum amount will be paid to your family in the event of your death.

Child Plan

This ensures your child’s financial security.

In the event of your death, your child gets a lump-sum amount.

The insurer pays the premium amounts after your death.

Your child will continue to get a certain sum of money at specific intervals.

Pension Plans

This helps build your retirement fund.

You can get a regular pension amount after retirement.

In the case of your death, your family can claim the sum assured.

General Insurance

A general insurance is a contract that offers financial compensation on any loss other than death. It insures everything apart from life. A general insurance compensates you for financial loss due to liabilities related to your house, car, bike, health, travel, etc. The insurance company promises to pay you a sum assured to cover damages to your vehicle, medical treatments to cure health problems, losses due to theft or fire, or even financial problems during travel.

Types of General insurance :

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Health Insurance

It usually covers:

Hospitalisation

The treatment of critical illnesses

Medical bills prior to or post hospitalisation

Day care procedures like Cataract operation

Vehicle Insurance

Vehicle insurance is for your vehicle. It is like health insurance is for your health.

It is a general insurance cover that offers financial protection to your vehicles from loss due to accidents, damage, theft, fire or natural calamities.

Travel Insurance

A travel insurance compensates you or pays for any financial liabilities arising out of medical and non-medical emergencies during your travel abroad or within the country.

There are two types of Travel Insurance.

Single Trip Policy
Annual Multi Trip Policy

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Home Insurance

Home insurance is a cover that pays or compensates you for damage to your home due to natural calamities, man-made disasters or other threats.It covers liabilities due to fire, burglary, theft, flood, earthquakes, and sabotage. It not only offers financial protection to your home, but also takes care of the valuables inside the property.