Author: Pravar Jain
India Insurance is increasingly looking at dedicated cyber security insurance covers to address pervasive cyber threats including malware attacks, compromised emails, cryptojacking, or instances of disgruntled employees or adversaries attacking software systems and machinery. India Inc.’s cyber insurance coverage varies from $1 to $100 million per year and is expanding at a 35% yearly rate. According to analysts, cyber insurance is India’s fastest-growing insurance industry. While banks, non-banks, and information technology services firms were the first to purchase cyber insurance policies due to their increased exposure to digitally-connected systems and the need to protect financial transactions, startups and manufacturing firms…
The death of a family’s major earner may create substantial disruption in the family’s everyday life. A term plan is an excellent approach to construct a financial safety net if such a circumstance develops. Term insurance is unquestionably necessary, but the actual issue is how much insurance you should get. Industry experts typically recommend the following simple formula: term insurance should cover 15 to 20 times your yearly wage. As an example, if your annual salary is Rs. 10,000, you should buy coverage for at least Rs. 1.5 crore. However, there are intricacies to choosing a proper life insurance policy…
A automobile insurance policy protects you financially against unanticipated unintentional losses and maintains you in compliance with the law. So, if you are intending to buy a new car, be sure to get car insurance. The process of purchasing vehicle insurance might be perplexing. However, you just simply follow certain procedures to acquire and consider particular factors before investing in one. How Do You Get Car Insurance for Your New Car? Car insurance is available both online and offline. The following are the steps for each application mode: Offline purchasing procedure Step 1: Go to the office of your preferred…
Life is full with hazards, and we all need protection from them. While risks cannot be completely avoided, insurance provides the greatest protection by reducing the financial burden associated with any unanticipated incident. General insurance and life insurance are the two major forms of insurance. Both are equally vital, yet they are not the same. First, let us define life insurance and general insurance. What Exactly Is Life Insurance? Life insurance protects you against the danger of death and provides a guarantee to pay a predetermined sum upon death or the expiration of the policy term. It is an agreement…
Edelweiss Tokio Life Insurance has introduced a new participation product called Flexi savings life insurance plan, which includes an innovative optional feature known as Accrual of Survival Benefit. According to the corporation, this functionality allows customers to adjust the date of benefit distribution as many times as required to meet their specific needs. The new Flexi Savings Plan is a non-linked, individual, participating plan. Savings and a life insurance policy It offers three major alternatives to pick from: Flexi-Income Pro, Large Sum, and According to the organisation, the accumulation of survivor benefit feature is available with the Flexi-Income and Flexi-Income Pro…
According to experts, a 5% GST on hospital room rent may boost hospitalization costs in circumstances when the hospital room price exceeds Rs 5000 for non-ICU rooms. The GST Council’s 47th meeting in June 2022 set a 5% GST rate for room rent (excluding ICU) that exceeds Rs 5000 per day per patient invoiced by a hospital. When someone is hospitalized, they have the choice of selecting numerous sorts of rooms—single private room, twin sharing, suite room, and so on. Each of them has a distinct per-day room rent price that varies from hospital to hospital. Certain health insurance plans…
When you get life insurance premiums, you receive coverage for the premiums you pay each year until the policy term expires. However, hectic schedules, increased obligations, and unexpected costs are some of the most typical reasons why policyholders are unable to pay the premium. In the case of term insurance, if the policy is cancelled, you will forfeit any insurance benefits as well as any premiums paid. In the case of ULIPs, if you do not pay the premium during the first five years of the lock-in period, your policy is cancelled and the premiums paid are transferred to a…
A two-wheeler insurance passenger cover safeguards your vehicle against unexpected threats. It covers you financially if your bike is destroyed due to a man-made or natural disaster, or if it is stolen. In India, basic third-party insurance is required, providing coverage for damages, death, or disability caused to a third party or property. Aside from third-party insurance, owner-riders must also purchase personal accident insurance, which provides coverage in the event of physical injury, permanent disability, or death caused by an accident. The owner-rider is covered by personal accident insurance up to Rs. 15 lakh. But have you ever considered the…
How do you choose the best amount of sum guaranteed for your term insurance policy? You will compute your income, spending, obligations, and long-term financial objectives. All of these characteristics, however, are dynamic in nature and change over time. Inflation raises the cost of living, making it harder to calculate the appropriate sum guaranteed for your term plan coverage. What you deem adequate now may not be adequate tomorrow. There is no assurance that your term plan will cover all of your family’s costs when it matures. There are methods to raise the coverage in your term life insurance policy…
Two wheeler insurance are one of the most cost-effective modes of transportation. Two-wheeler ownership has grown throughout time, and one in every three Indian homes now owns a two-wheeler. In comparison to May 2021 statistics, the two-wheeler sector increased by 246 percent in May 2022. As a result, the popularity of two-wheelers is growing. In addition, every bike owner is required to insure his vehicle with a two wheeler insurance policy. Poor road conditions and slick tyres, especially during the monsoon season, may often result in an accident. Rains have a significant influence on two-wheelers since rainwater continually falls on…