Health Insurance- Saves Your Loved Ones From Financial Misery

Health plan acts as a buffer for a person to safeguard him against huge financial costs which may occur during future health emergencies.

However, many people still ignore the importance of getting health insurance. What most people don’t understand is the fact that purchase of health plan requires one to have long-term projection. Therefore, one should conduct proper kind of research strategy to be able to arrive on an appropriate plan. 

Getting the right health insurance-

Health insurance protects a person from various medical uncertainties which may lead to high medical and treatment costs. However, it can ambiguous and difficult to evaluate from the pool of insurance companies and get the best one.

Therefore, to avoid visiting the doors of several insurers, one can easily evaluate several insurance companies online. All you need to do is browse through the company websites and evaluate their individual offerings. This would give you an understanding about the bucket of offerings an insurer provides. For instance, a particular insurer would provide health insurance at lower rate than corresponding insurer for the same bucket of offerings. You see? You can easily notice such things which determine the lucrative aspect of a health insurance plan online.  

Ease of buying health insurance online-

Chasing all the insurance companies on road to figure out the most suitable one is a challenging task. Also it gives you limited number of options to choose from. However, when you choose the online way, you can browse through all the leading insurers in India at ease. In this way, you will be able to compare from an array of insurance quotes and select the most appropriate health insurance.

Note- Look for the option named “Request for Quote”. You will be able to spot this on most websites of leading health companies. Hence, you’re just one click away from the best health plan you can get! 

Getting online quote for health insurance-

Below are certain things to remember while getting quote online-

·        You must be clear about the type of insurance plan you require

·        There are two options available before a person regarding health insurance in India. They are-

1)   Individual health plan- covers the individual against health emergencies

2)   Family floater- covers the entire family against health emergencies

·        One needs to mention the correct age groups of all family members

·        One needs to mention the sum insured amount expected

·        List down the correct contact details

Cashless facilities of health insurance-

A person can avail comprehensive treatment from empanelled group of hospitals as mentioned by the particular insurance company, all this without paying anything. It’s because your insurance company will be liable to settle your claims with the concerned hospital.

Reimbursement-

One gets a reimbursement facility when one avails treatment within a non-network hospital. When one submits the original bills & other specific documents within stipulated timeframe, he can get a reimbursement from the insurance company.

Health Insurance: A Tax Saving Investment Option

Everyone knows about the benefits of getting a comprehensive health insurance plan in India. It’s is a great way to ensure financial coverage to cover any medical and hospitalization costs.

However, did you know that health insurance provides additional benefits including tax benefits?

In this article you’ll learn about one of the biggest benefits of health insurance which are tax exemption benefits. 

#Save tax through health insurance by following simple rules-

Health insurance in India has been an important field being perceived by entities like the Government, people and health professionals like doctors.

is a growing sector providing financial assistance to millions of people against rising medical and hospitalization costs. However, there are many people with low health risk factors who buy health insurance policy in India to save tax. As per Section 80D of the Income Tax Act, the premium amount paid for health policy is exempted from tax. Hence, you don’t have to pay tax for the premium amount which is deductible.

#Understanding the grasp of health insurance benefits

This refers to enlighten the range or limit to which the people can get health insurance benefits. All individuals and HUF (Hindu Undivided Families) members are liable to receive tax benefits as per Section 80D of income tax act. You receive a benefit of deduction up to Rs.15, 000 from the taxable amount. Therefore, if you, your spouse and your children have individual health insurance policies then the total deductible amount will be Rs. 45,000/-. Hence, you receive greater tax benefits.

#Supplementary benefits for specified age groups

Parents below 60 years of age, get additional benefit of tax deduction of Rs.15, 000/- per year. On the other hand, parents above 60 years of age, get additional benefit of tax deduction of Rs. 20,000/- per year.

Therefore, a person can receive total tax benefit of Rs. 35,000 by investing in these policies.

Many people tend to neglect to invest in parent’s healthcare insurance policy. Surprisingly, many people who include various accountants are unaware of an added benefit of health insurance. When a person invests in health care insurance for parents, he/she receives Rs. 20,000 extra deduction as tax benefit. Also from a monetary perspective, it’s better as along with providing an added benefit, it covers all the parental medical costs.

Limitation

·        Premium can be paid only in cash.

·        People who have invested in various corporate health plans cannot benefit from these deductions. In order to get these benefits, you will be required to use a payroll deduction system or online electronic payment modes for payment of premiums.

Summarizing the purpose of this article-

People search for tax saving instruments within India to save tax. Health insurance policies of India fulfill 2 important motives. It provides significant tax benefit as well as provides a sufficient health cover for individuals and his entire family. Hence, health insurance is one of the best tax saving instruments of India plus a great health care option too!

Easy Tips Which Assure Best Home Insurance Rate

Everyone is familiar with the importance of home insurance and the role it plays to safeguard not only the walls of your house but the contents of the house as well. In my previous article I have discussed about how to get the maximum value of his home insurance by creating household inventory. This is a clever move that strengthens the prospects of getting the right protection cover at best price. Additionally, it also has the potential to save the insured’s huge sums of money and protecting him from future unfortunate events.

Home insurance is known as an important cover which safeguards one’s home and family. It is important to ensuring that you get the best home insurance as per your requirements. A large part of savings is channeled by many people towards this policy making it indispensable.

Home insurance protects one’s house from several calamities such as earthquakes, floods and so on at a fairly reasonable price. Today you can get home insurance at lower premiums. However, it is important to note that, low insurance does not always mean the best policy. What good is the cover if it is not able to provide adequate protection?

Nevertheless, deciding to get a home insurance policy is a part of life of a person at some point or other. In this article you will understand the easy ways to find the most appropriate cover suiting individual needs.

Note- the 2 different forms of cover are building cover and content insurance.

The building insurance is required when one buys a house. It requires the owner to evaluate the money he will need to rebuild his house and then select a suitable policy which will give maximum reimbursement

The things covered in the building insurance are-

·        Fencing

·        Gates

·        Pathway

·        Walls

·        Roof

·        Garage

·        Greenhouse and garden

·        Fixtures like the bathroom and kitchen

Further, it is upon the home owner to get a content insurance to cover his personal contents in the house. Such type of cover greatly helps during situations like theft and damage of your valuables.

The insurer will compensate the owner with the money so that he can buy things which were destroyed or lost. Therefore, it is looked upon as one of the essential policies provided by home insurance companies.

Things covered in the content insurance are-

·        Sports equipments

·        Clothing

·        Electrical equipments like computers, TV and DVD player

·        Furnishings

Finding the best policy

When it comes to searching for the best home insurance plan, finding it online is the best way. Most insurance companies provide all the information on their websites regarding insurance offerings, rates and options. There are websites which also aid comparison of prices across different insurance companies.

Experts always insist on a thorough research on the particular company before purchasing anything. You should also consult a professional whenever needed.

Roadmap for Getting the Most Reliable General Insurance Policy

In this article you will learn how to land the best deal by a simple process of getting cheapest general insurance quotes from trustworthy insurers. Also you’ll learn essential tips to ensure that you get not only get a plan within your budget but a “reliable” general insurance policy.

The 1^st tip to remember is opting for a higher deductible amount.

Go for higher deductible amount

Opting for a higher deductible amount will reap your immense benefits in future. Also you will benefit from lower health insurance rate.

Deductible is an amount which the insured pays prior to the fulfillment of policy terms by the insurer.

It is recommended to select a high deductible. However, at the same time be certain that the amount is well within your budget.

“The umbrella benefit”

This refers to buying your various general insurance policies like health insurance and home insurance from the same general insurance company. This will entitle you to reap a discount.

Usually, most of the insurers offer a discount when you buy multiple policies from them.

However, one may find it better to choosing from different insurers as it helps him to save more due to differing rates. Hence, decide on the approach which is in parallel to your best interest.

Be aware of all the discount measures

Are you aware of every discount policies your insurer offers? There are instances where insured people don’t know about various discount offers. As a result they stay unaware and unattained from their benefits. Hence, in spite of expecting the insurer must tell you everything; it’s your job to be aware of all such measures which are for your convenience and good.

Loyalty discount

The loyalty discount is something which helps in lowering your general insurance policy’s premium rate.

Buying from the same generalinsurance company for minimum 3 years will help you reap reasonable discounts. The more a person stays with the same insurer, the more are the chances of attracting regular and greater discounts.

Tip- You will save by significant amount if you visit at least 5 general insurance quotes referring to various sites. Doing this the chances of you getting the lowest possible quotes increases by 25 times.

Concluding tips-

-Ensure that you approach and get general insurance from a valid and trustworthy general insurance company.

- It is necessary to clear all your concerns before taking up a policy. Ensure that your health insurance cover includes overseas medical expenses, rental car facility provision, etc.

- Check out the various ways that the insurer will service your claims. This includes online support and responding at the earliest especially during emergencies.

- Check for re-consideration facilities. This refers to checking for the insurer’s ability to allow its customers for having a free look for at least 30 days. This helps greatly to analyze on the various pros and cons of the insurer and the general insurance policy. Therefore, you will be able to decide on the best deal.