Property Insurance
Property insurance is a broad term for a series of policies that provide either property protection coverage or liability coverage for property owners. Property insurance provides financial reimbursement to the owner or renter of a structure and its contents in case there is damage or theft—and to a person other than the owner or renter if that person is injured on the property.
How Property Insurance Works
Perils covered by property insurance typically include select weather-related afflictions, including damage caused by fire, smoke, wind, hail, the impact of snow and ice, lightning, and more. Property insurance also protects against vandalism and theft, covering the structure and its contents. Property insurance also provides liability coverage in case someone other than the property owner or renter is injured while on the property and decides to sue. Property insurance policies normally exclude damage that results from a variety of events, including tsunamis, floods, drain and sewer backups, seeping groundwater, standing water, and a number of other sources of water. Mold is usually not covered, nor is the damage from an earthquake. In addition, most policies will not cover extreme circumstances, such as nuclear events, acts of war or terrorism.
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Individual Health Insurance Plans
Individual health insurance plans offer financial cover against medical expenses for an individual. The insured alone gets all the benefits of the plan. It is best for individuals whose family members are already insured or who is at a higher health risk. An Individual health insurance is for a single person and cannot float within the family. This type of medical insurance plan covers hospitalisations, surgeries, room rent, physician’s fee and tests. However, the insured has to pay a certain amount as co-payment for some healthcare services. There are no restrictions on the maximum age for the renewal of the policy.
Family Health Insurance Plans
A Family Health Insurance Plan or a Family Floater health Insurance plan is a single sum of money offered to the entire family as coverage. The sum is divided amongst the family members equally in case multiple members fall sick. A single premium is to be paid in a year to avail this insurance. A single claim or multiple claims can be made within a year under this plan. It is more cost-effective than taking individual health insurance plans for each member of the family. However, addition of senior citizen members into this plan may increase the yearly premium.
Key Benefits of Health Insurance Policy in India
When the medical bills pile up, your savings drain quickly out of your pocket. A regular health check-up may also cost you more than you can afford. This doesn’t mean that you cannot have access to the best treatments available for you and your family. A health insurance policy comes to your aid is such a scenario. If you need medical care at home after your stay at the hospital, the health insurance will cover that too.
1. medical checkup facility
You should get a full health check-up once a year to nip any oncoming diseases in a month. Most of us ignore this fact because we don’t have the resources. A health insurance plan offers you the facility of regular health check-ups. These check-ups can be inclusive or you can have it as an add-on with your medical insurance plan.
Does a Health Insurance Policy Cover Coronavirus (COVID-19)?
if you have an existing health insurance policy, a coronavirus claim will be handled by the insurance company expeditiously. It will go through a thorough review by the claim review committee and decided if it will be accepted.
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Options & Ideas started its journey in 2010. We are working with many reputed organizations all over in india.
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