General Insurance - Everything you need to know.

General insurance includes different types of insurance products which provide protection to the policyholders against specific types of unfortunate event that can harm the individual or its property. For example, health insurance policy provides protection against any unfortunate event that leads to medical emergencies and motor insurance policy covers the expense of damage or loss of the vehicle and hospitalization expense that incurred due to an accident. This is how the general insurance policy helps the policyholders to fight against a different kind of unforeseen situation. There are three important types of general insurance available in the market, read the detail below:

1.) Health Insurance

Health insurance is a product which protects the policyholder in case he meets medical emergency. It covers the total medical expenses incurred due to the treatment. Some of the major coverage provided under health insurance is cashless hospitalization, pre and post hospitalization expenses, day care, ambulance charges and tax benefits, much more.

2.) Motor Insurance

Third party insurance is mandatory in India and almost all the general insurance company provides third party insurance policy with number of benefits and coverage. It provides the coverage to the third party in case your vehicles become the reason of damage of third party or its property. Another is a Comprehensive motor insurance policy which provides a wide range of protection to the policyholder. For example, it covers personal accident, damage to the own vehicle and co-passenger and its property.

3.) Travel Insurance

It is very necessary that you think before you are ready to fly, it means to make sure you are covered under the travel insurance. Whether you are traveling for business purpose or going for a vacation you should know the importance of being insured under travel insurance. It covers you against a certain unfortunate situation that can ruin your trip at the last moment or in between. It covers the expenditure may arise in the condition of loss of baggage or passport, cancellation of trip, delay of the trip, etc.

Let us take an example of IFFCO Tokio General Insurance and Tata AIG General Insurance:

IFFCO Tokio General Insurance

Iffco Tokio is a catering a large percentage of the customer in India, it includes plans which provide beneficial coverage to its customer. These plans rank top among its competitors in the Indian insurance market. IFFCO Tokio general insurance is a trusted brand over a decade which has served transparency to its customers. Online availability has made it more communicative where customers can buy a policy online in a quick and easy way. Claim settlement process is very easy and quick under Iffco Tokio General Insurance. It provides different types of general insurance for example health insurance, travel insurance, home insurance, corporate insurance and motor insurance. let us see the benefits provided under IFFCO Tokio Health Insurance policy:

Benefits under IFFCO Tokio health insurance

•                    It covers the medical expenses incurred in treatment of the policyholder

•                    It bears the pre and post hospitalization expenses

•                    IFFCO Tokio Health insurance provides tax benefit under section 80D

•                    Daycare procedure is covered under the health insurance policy

•                    Add-ons are available that provide extra coverage at lower premium rate

•                    Treatment of organ donor is covered under this policy

•                    IFFCO Tokio provides Cashless hospitalization and reimbursement facility

•                    It also covers the pre-existing disease

Tata AIG General Insurance

TATA AIG General Insurance understands the importance of your financial need at the time of an unfortunate event like a medical emergency, accident, damage to the property and this is why the of TATA AIG General insurance provides a wide range of insurance policy online. For example Tata AIG General insurance policy offers health insurance plans which allow its customers to avail cashless hospitalization or reimbursement facility for hospitalization expenses. There are many multiple benefits and coverage provided under different Tata AIG General Insurance policy. Let us take an example of Tata AIG Health insurance policy below:

Benefits of Tata AIG Health Insurance

•                    It takes care of any unforeseen financial burden incurred due to injury, accidents, and disease.

•                    Tata AIG Health insurance does not require the medical examination.

•                    It provides hospitalization cash in case of accidents or illness.

•                    Tata AIG insurance policy also offers tax benefits under section 80D of the Income Tax Act.

•                    This policy includes lifelong renewal facility by paying the premium without any break.

•                    Get 30 days of grace period to renew your policy.

•                    It provides an option to transfer the existing policy to similar health Insurance policy.

•                    Family plan under Tata AIG health insurance covers up to 100% for you and spouse and 50% for your 2 children.