Here is what comes with your Bajaj Allianz car insurance.

In the event of irrecoverable loss of keys of your car, we will cover the cost of replacement of keys, subject to the specified sum insured for this cover.

If your car gets immobilized due to a flat battery, we will make alternative arrangements to make your car mobile again.

In case your car gets immobilized at the roadside, we will arrange for minor mechanical or electrical repairs, free towing of your car from the accident spot.

If you meet with an accident while traveling in your car, you are entitled to free legal advice over the phone from one of our legal advisors.

If your car breaks down or is involved in an accident within 100 km of your city, Bajaj Allianz car insurance provides transportation services to transfer the occupants of your car to a single destination within 50 km from the spot of immobilization.

In case of car accidents/breakdowns and repairs which take more than 12 hrs, Bajaj Allianz provides hotel accommodation for the occupants of your car for a maximum of two days and two nights.

Term Insurance is something that everyone need

Insurance is something that everyone will need at some point of their lives. This includes life insurance, motor insurance, health insurance, travel insurance, home insurance, etc. Here in this article, we highlight one of the simplest and cheapest forms of life insurance, known as Term Insurance.

Term insurance is the purest form of insurance. The policy will be in force for a particular term (say 30 years or up to the age of 75) and then comes to an end. During the time policy is in force, the insured pays a fixed premium to the insurance company at regular intervals. This is called premium, and if during this time if the insured dies, the insurance company pays a guaranteed amount of money, known as sum assured, to the family of the insured. In case the insured survives the period of insurance, the policy terminates and nothing is payable to the insured. 

All the premiums paid till date go to the insurance company. Hence term insurance products offer only risk cover without any returns or any maturity value. These policies are relatively much cheaper when compared to traditional insurance products and cater to the specific needs of an individual, i.e., to cover the risk of death. Term insurance is provided by almost all life insurers.

The right Medical Insurance plan

A right medical insurance plan is very much essential for all of us. Choose a right path for you . Before you go plan-hunting, there are some questions you need to ask yourself:

• Do I use many prescription medicines?
• How much preventive care do I want?
• Am I constantly exposed to hazards such as the possibility of an accident, exposure to toxins, a weak immune system, etc.?
• Am I at risk of any hereditary diseases?

Knowing the answer to these questions will help you recognise which slot you fall into, and what your insurance needs are. It’ll narrow down your search and give you an estimate of how much you should be spending – and what benefits you ought to get for your money.

Once you know your healthcare requirements, it’s time to go shopping. Even with the field narrowed down, it’s easy to lose sight of what you need. Here are some tips you should keep in mind to ensure that you aren’t buying the wrong plan:

 
First of all - Know how much the average cost of your healthcare should be. For example, it is generally accepted that a Rs.5 lakh cover is sufficient for a single adult.

The other points will be discussed in the next session  of The right Medical Insurance Plan.

Term Insurance Plan - taxes are unavoidable

We all know death & taxes are unavoidable – we plan for taxes to avoid trouble but do we plan for other one. NO… most of the Indians don’t. People look so sure that nothing will happen to them. That makes their families life miserable in case of sudden demise of the bread winner.

Let us look at an example: Suppose your friend or relative passes away due to food poisoning at under 30 years of age. You realise that he never thought, what will happen if he will not be there? What if this person had a wife and children? No one can fulfill the emotional vacuum but what about finances? If he would have given some importance to this, his family would have been financially secured. In some cases death occurs at young age when the deceased has loans to repay. Do you think the banks will not ask for the home loans or personal loans repayments from the families of the deceased?

So don’t delay this & take a term plan today. But which one is still not answered. Simple answer is going for the policy which is having least premium. NO this will be a big mistake. Here we present a true case study from our annals:

“I had asked for the quotes for Term Insurance from various Co’s about the sample insurance of Rs. 50 lac for 31 yrs. old. The various quotes have made me more confused than ever. The rates vary from Rs. 5, 800 to Rs. 15, 450.”
Could you understand the difference between the quotes?

Sample Quotes of Term Plans received were:

• Age – 31 Yrs
• Policy Term – 25 Yrs
• Sum Assured: Rs. 50, 00, 000