What Is Insurance?

What is Loan Insurance?

Loan Insurance is also called Loan Protection Insurance is designed to cover your monthly loan payouts in case of temporary or permanent disability, loss of job. etc.

What is Mediclaim Insurance?

Mediclaim insurance is a health insurance coverage policy, which covers the charges incurred during hospitalization. Here in this coverage, one can claim in two different ways which involve a cashless facility, where the insurer directly pays the hospitalization charges to the network hospital instead of the insured. The second way of claiming involves a process called reimbursement, where the insured will be repaid all the hospitalization coverage charges from the insurer after completing the treatment from any hospital.

Is Insurance Claim Taxable?

Yes. Insurance claim is taxable as per the existing tax laws. The percentage of tax to be paid is different for different parts and is calculated at the time of claim.

What is a Rider in Insurance?

Rider or add-ons are the extra coverage offered by the insurance companies on payment of additional premium. Riders such as Bumper to bumper, consumables, Engine protection cover, and Roadside assistance cover are provided by the insurance company at the time of car insurance renewal on payment of extra premium. The extra premium to be paid is under the own damage section of your car insurance policy.

What is PolicyBachat and How does it help with my Life Insurance Policy Purchase?

PolicyBachat is an online insurance web aggregator which helps in selecting the best insurance policy for its customers based on the customer’s requirements. We at PolicyBachat provide the customer with a wide range of options to select from. The best life insurance policy can be selected online from our portal. We even provide assistance to our customers in selecting the best life insurance policy based on the requirements of the customer.

Can a policyholder nominate anyone for his Insurance Policy?

Yes. The policyholder can nominate anyone for his insurance policy.

What is a National Pension Scheme?

National Pension Scheme also known as National Pension System which is specially designed to offer financial security to Indian senior citizens. NPS scheme provides long-term savings options. It is open to all the employees from the public sector, private sector, and even the unorganized sector except for those who work in the Armed Forces.

How to Compare Insurance Policy?

Comparing insurance policies can be a daunting task, but it's an important one to ensure that you're getting the coverage you need at a fair price. By following the below steps, you can effectively compare insurance policies and choose the one that best meets your needs.

• Determine your insurance needs
• Research different insurance providers
• Compare coverages
• Compare premiums
• Check for discounts

How Insurance Works in India?

The insurance company and the insured get a legal contract for the insurance, which is called the insurance policy. The insurance policy will ensure financial security.