Life insurance is an insurance cover which provides a sum assured to the family of the assured in the event of sudden death. The plan also offers a survival benefit to the assured if he/she survives the policy term.

It is advised to have a coverage amount 10 - 15 times of the annual income of the life assured which can help the family of the life assured to maintain a lifestyle in the absence of the life that the life assured provided to them. Your life insurance coverage amount should be enough to provide financial security to your family in your absence.

Life insurance policies in India come in a variety of offerings catering to the needs of protection, savings and protection-cum-savings. Some of them are: (a) Term Insurance plan (b) Whole- life insurance plan (c) Endowment plan (d) Money-back plan (e) Pension plan (f) Child plan (g) ULIPs (unit-linked plans)

Health insurance is an insurance product that provides cover for medical and surgical expenses of an insured person, in case of a medical emergency. However, you are required to pay a premium to avail health insurance policy.

Your health insurance will either pay your hospital bills directly if opted for the cashless facility or it will reimburse any payment made by you towards medical expenses incurred due to an illness or injury.

Network hospitals are hospitals/health units that have tied-up with TPAs or directly with the health insurance companies. With hospitalization in one of the network hospitals of the insurer, the policyholder can avail cashless hospitalization depending on the terms of the policy.

If there is no network hospital in your vicinity, don’t worry, get treatments at the hospital of your choice and pay all the medical bills at the time of discharge. And your insurer, later on will reimburse the medical expenses incurred after making claim under the policy.

A pre-existing condition is a disease/illness that existed before you buy a health insurance policy. Insurance companies do not cover pre-existing conditions that had symptoms or treated within 48 months of buying the first health policy. The pre-existing conditions are liable to be covered after a regular health cover of 48 months.

Motor Insurance policy is a contract between a vehicle owner and an insurance company wherein the insurer assures to provide protection against financial losses to the owner in exchange of premiums paid, if the insured vehicle gets damaged or stolen. Also, it covers liabilities for injuries, damages to others caused by your car.

In India there are two types of insurance- (a) Third-party or Liability Only and (b) Comprehensive Cover