Bharti AXA General Insurance is now part of ICICI Lombard General Insurance.

Bharti AXA General Insurance is now part of ICICI Lombard General Insurance.

|Know more
  • Mountains Calling? These Motorbike Tours in The Himalayas Are for You

    by nikesh lakhani | Aug 16, 2021

    If you are a bike riding enthusiast, you must have dreamt about freely roaming in the magnificent landscapes of the Himalayas on your two-wheeler. You can embark on a journey of new experiences, and unleash the adventurer in you, that can seldom be done otherwise. You could have already started feeling the pump of adrenaline in your blood!

    This article is all about discovering some of the best motorcycle routes in the Himalayas that will immediately beckon the rider in you. Here’s our lowdown of some of the must-experience Himalayan motorbike tours that will leave you with a bucket-full of adventurous experiences:

    1. 1. Motorbike tour in Ladakh


    2. A tour to Ladakh is one of the most desired fantasies among the bike-riding fanatics in India. It is one of the most popular destinations among the adventure seekers, riding on their two-wheelers. Challenging circuits combined with the beauty of mountains have attracted the tourists from all over the world. The one thing that is sure to pump up the adrenaline is the unpredictability of the rocky terrain.

      Add to them the glimpses of Tibetan culture, monasteries and nomadic tribes, and your motorbike tour will turn into something magical. You can explore numerous routes in this region to have a breath-taking experience, like Manali to Ladakh, Srinagar to Manali, Chandigarh to Ladakh and back, or you could simply take a flight to Leh and indulge in short motorbike trips within Ladakh.

    3. 2. A tour in Spiti Valley


    4. Just like Leh, Spiti valley in Himachal Pradesh is another very popular destination for the adventure seekers, who are driven by the wanderlust. The motorcycle circuit is full of scenic towns and villages that will totally mesmerize you. You can take various adventure-filled routes to Spiti from Shimla, Kaza, Chandratal, Manali and back which will take you through lush-green orchards, aromatic apple gardens, and impromptu waterfalls amid the spellbinding mountain peaks.

      You will fell in love with the immense cultural diversity of the area and a wide range of wildlife found here. You can stroll in the untouched landscapes and even come face to face with animals like snow leopards, griffon, red foxes, ibexes, and bearded vultures.

    5. 3. Motorcycle ride from Sonmarg to Kargil


    6. After Leh and Spiti, a drive to Sonmarg is one of the most challenging yet pleasing tours, even for the hardcore bike riders. It will take you through the narrow winding roads along a gushing water stream. You can admire the lush green meadows and stop by the sides to have a cup of hot tea. You will come across the famous Zozilla pass, which gets washed away by heavy rainfall every year.

      Once across, you ride on to Drass, rated as the second coldest inhabited place in the world. You can also take a stop to pay your tributes to the real heroes of the infamous Kargil war of 1999. The narrow lanes and rugged terrains without a black top will surely test your riding skills.

    7. 4. A ride to the Nubra Valley


    8. A motorcycle ride to the Nubra valley can be one of those landmark events of your riding life. Here, you’ll get to ride to the world’s highest motorable pass, the Khardung La situated at 17,582 ft. This is the highest point you can reach via a motorcycle on this planet. Be sure to cherish the moment before you leave the pass to ride down on the other side.

      You can now cross over to the beautiful Nubra valley, riding through some of the highest altitudes. You can grace the lovely view of the organic farm fields and the famous Hunder sand-dunes. Additionally, you can plan a night-stay at this beautiful place to observe its culture and the scenic beauty from close quarters and even get engaged in some local desert sports.

    9. 5. Motorbike tour to Mustang, Nepal


    10. The motorbike tour to Mustang in Nepal can be the classic bike adventure tour that you’re craving for. It has been luring the rookie as well as pro-bikers from different parts of the world for quite a long time. On the way, the roads are really picturesque and the entire route is capable of giving you perpetual goose-bumps. You can even spot some regional wild animals while riding through the magnificent Annapurna range.

      While these adventurous bike tours will revitalise your body, mind and soul, you also need to be wary about the threats and dangers associated with it. Since the weather conditions in these areas can be unpredictable and harsh at times, remember to pack accordingly. Also, make sure to protect yourself and your bike against any unforeseen situations with a comprehensive two-wheeler insurance plan which offers complete financial security for the motorcycle and its rider.

  • Here's Why You Must Master These 4 Essential Bike Riding Skills Other Than The Basic Ones

    by nikesh lakhani | Aug 16, 2021

    Apart from basic skills, you must know the art of advanced braking, taking sharp turns and reading the hand signals.

    Given the current state of affairs where the threat of the COVID-19 pandemic still looms large, riding a bike to commute to the workplace and even otherwise provides the much-needed safety as per the social distancing norms.

    Having said that, it’s vital to master some other essential bike riding techniques other than basic ones to ensure a smooth and safe ride. So, what are these bike riding tips that further elevate your experience? Let’s find out.

    Advanced braking techniques

    Before riding a bike, you were probably instructed to wrap all four fingers across the throttle and apply only the front brakes when the throttle was closed. While this is fine when you are just learning to ride or are in a parking lot, the situation is vastly different on roads.

    While riding a bike on a busy road, you must have observed how difficult it is to cover the front brake with all the four fingers when the situation demands applying them soon. In such a scenario, you need to master the art of applying brakes with only two fingers, allowing you to shorten the reaction time, should the need arise for the same.

    Advanced braking techniques also entail applying brakes when you roll off the throttle. You need to practise the art of blipping the throttle for downshifts while maintaining consistent pressure on the brakes. It is also essential to note that learning advanced braking techniques while riding a bike is not only limited to the front brake. It also includes learning the deft art of using the rear brake with prudence.

    Imbibing lessons on advanced braking techniques can come to your rescue in challenging situations. Learning the art can save not only your life but also of the pillion rider  and others.

    Situational awareness

    Unfortunately, two-wheelers account for the lion’s share of fatal accidents in India, claiming thousands of lives each year. While not wearing a helmet, over speeding, driving under the influence of alcohol or drugs, etc., are the major culprits, lack of situational awareness also contribute to mishaps.

    Situational awareness means being alert while riding and constantly looking out for potential hazards. These may include animals or humans or other vehicles coming across unexpectedly, sudden change of traffic light to red and even the road itself.

    Note that situational awareness comes with time. Equally essential is to keep your focus on the road while driving and avoid distractions at all costs.

    Often while riding bikes, people use mobile phones or talk with the pillion rider. All such activities affect concentration and can lead to an accident. Thus, while riding, make sure to keep a hawk’s eye on the road. It will not only make your journey safe but also prevent loss of life and property to a great extent.

    Mastering the art of turning at sharp turns

    This is one of the most essential bike riding tips that’s often ignored. Turning your bike at sharp turns requires skill and the challenge compounds multi-fold if the space is small. Often while riding a bike on hilly terrains, riders encounter sharp turns too often. If you don’t practice well-enough, it can lead to a mishap.

    Note that while turning, you also have to manage the accelerator and keep it smooth. While taking such turns, ensure you turn your bike at a 90-degree angle and look ahead. Often most riders make the mistake of looking down while turning, which is an absolute no.

    While doing so, extend the elbow away from your body. This prevents the elbow from cramping and gives you more space to take a turn. After you have completed the turn, release the accelerator fully and have a firm grip on the handlebar.

    At the same time, when you are approaching a turn, make sure to reduce the speed of your bike as accelerating may prove fatal. If, however, you are not confident of making the turn correctly, stop and manually take your two-wheeler to the other side.

  • These Are The Top Electric Two-Wheelers Coming To India In 2019

    by nikesh lakhani | Aug 16, 2021

    In its efforts to tackle rapidly increasing air pollution in the country, the government of India is planning to run only electric vehicles on the roads by 2030. It has launched a series of policy measures and incentives to promote electric two-wheelers and hybrid cars in the country. It will not only pave the way for cleaner air but also help check the country’s burgeoning oil import bills.

    So, as we gear up to embrace complete electric mobility in the upcoming years, automobile manufacturers have also decided to ride this ecological wave and launch many electric vehicles in the upcoming years, replete with modern features and technology. A major portion of these are electric two-wheelers which are already finding increased adoption in India, thanks to their negligible refuelling prices and zero maintenance charges as compared to those running on fossil fuels.

    Here is a list of some of the top upcoming electric scooters and motorbikes in India that are due to be launched in 2019:

    1. 1. Honda PCX

    2. The makers of top-selling scooters in India like Activa and Aviator, Honda showcased its all new electric scooter named PCX at the Auto Expo 2018. It comes with a new innovative design language that provides a stylish and premium feel to the vehicle. The LED lightning at front, full-digital instrument console, and the sporty alloy-wheels gives it the appeal of a maxi-scooter.

      The scooter will pack Honda’s own electric motor with two detachable batteries termed as ‘Honda Mobile Power Pack’ under the seat for enhanced range. The detachable batteries will provide both the options to the user, that of swapping the batteries or charging them at a station. The scooter which is expected to be launched in the latter half of the year should be priced between Rs.1 to Rs.1.2 lakh.

    3. 2. TVS Creon

    4. TVS has now come up with an electric scooter named Creon. You can get TVS bike insurance from ICICI Lombard. As seen during the Auto Expo of 2018, it looks striking with its sharp and futuristic design. Visual bits like diamond cut alloys, stylish front apron, sharp tail-end LED lights makes it look more appealing. It also packs a number of features such as cloud connectivity, riding modes, parking assist, GEO fencing and anti-theft mechanism.

      The scooter derives its power from a 12 kW electric motor that allows it to accelerate from zero to 60 kmph in only 5 seconds. Also, the engine is efficient enough to run for a distance of about 80 km on a single charge. Again, we are expecting a price tag of around Rs.1 lakh to Rs.1.25 lakh when it makes to the final production model.

    5. 3. Hero Duet Electric

    6. One of the largest two-wheeler manufacturers in India, Hero has showcased its tried and tested Duet scooter but in an all new electric version. The design and components draw many similarities from the petrol version of the vehicle. The engine can churn out close to 5 kW power and 14 Nm of maximum torque which is sufficient for a two-wheeler.

      The scooter will be capable of reaching 60 kmph in just 6.5 seconds. The company has also revealed that the scooter is efficient enough to cover the distance of about 65 kilometres on a fully charged battery. This e-scooter from the Hero MotoCorp is expected to come with a launch price of Rs.75,000, an attractive choice for price-conscious buyers.

  • ICICI Lombard Launches Mobile Self-inspection for Cars

    by nikesh lakhani | Aug 16, 2021

    Customer ease is always the top priority at ICICI Lombard. As part of this effort, ICICI Lombard has launched a facility called ‘Mobile Self Inspection’ that eliminates the need for physical inspection of cars.

    ICICI Lombard customers can now record a video of their car on their mobile phones as per the guidance provided in the ‘Insure’ app. This facility saves customers the hassle of having to wait for a surveyor to visit and carry out the physical inspection.

    Quick and Easy Renewal

    Inspection is mandatory when a motor insurance policy lapses and it causes delay in issuance of renewed policy. Normally, the insurer initiates a process called ‘Break-In’ when a customer applies for renewal of a lapsed policy. In this process, an inspection by authorised surveyors is carried out and the policy is issued based on satisfactory inspection.

    However, with the ‘Mobile Self Inspection’ feature, the time taken for renewal of lapsed policy reduces to a few hours from 2-3 days. This feature has made renewal of lapsed policy an easy-going and stress-free process for customers. Customers having car insurance policies of other insurance companies who want to make a shift to ICICI Lombard can also use this feature.

    Uploading a Video is Really Simple

    For using the ‘Mobile Self Inspection’, a customer needs to have an internet connection; mobile phone with 3 MP or above camera resolution and the video of the car must be recorded in broad daylight. The app also contains a demo video for step-by-step guidance of the ‘Mobile Self Inspection’ process. After making payment for renewal of policy, the customer is prompted to upload the self-inspection video via the mobile app.

    The video will be approved as per ICICI Lombard’s underwriting guidelines and after which the policy is generated within a few hours. If the video is found to be unclear, it can be discarded and self-inspection can be recorded again. After uploading the video, the status can be checked in the ‘My Policy’ section on the website or in the App.

  • This Is How The Health Industry Is Making The Most Of The Digitisation Wave

    by nikesh lakhani | Aug 16, 2021

    One of the fastest-growing segments in India, the country’s health insurance sector has registered a compound annual growth rate (CAGR) of 23% for the last 10 years [1]. While growing awareness among the masses regarding healthcare is one of the major catalysts behind this growth, digitisation has further given the industry a major push.

    The industry, too, is leaving no stone unturned to make the most of the digitisation wave to enhance customer experience and make health insurance plans available to all. Read on to know how the industry is leveraging digitisation to boost its penetration.

    Selling health insurance plans online

    A primarily agent-driven industry, health insurers today are banking on the increasing penetration of the web to sell policies, particularly to millennials. A survey found about 30% of people in the age group of 25-34 years [2] buy health insurance plans online.

    Buying online health insurance has its advantages. You can fill up the proposal form, upload the relevant documents, pay the premium and you’ll be done. There are no intermediaries involved, and insurers save on commissions. As a result, you get to insure your health at an affordable premium

    Improve customer experience

    The digitisation wave is helping health insurers improve the customer experience. Today, you can gather information about a new policy, check the status of your application or claim, and renew the plan online in a few clicks.

    By integrating advanced action-oriented chatbots on websites, health insurers are elevating the customer experience to the next level. The advanced chatbots, integrated with artificial intelligence and machine learning, based on the queries decipher what you are looking for and make suggestions accordingly. Today, they can also help you do mundane tasks such as filling up the proposal form

    Better underwriting

    The crux of insurance, underwriting helps in better risk assessment and compute premium(s) accordingly. With rising cases of frauds in the sector, insurers have tightened their underwriting process of late. However, they face a challenge to ensure that genuine customers don’t suffer due to frauds committed by others and get adequately rewarded.

    Digitalisation is helping health insurers overcome this challenge with ease. With Wearable devices are going to rule the future of your healthcare health insurers can extract crucial information about your lifestyle, which goes a long way in risk assessment and compute premium accordingly.

    For instance, if you are leading a healthy life, insurers can know it through vital data such as your BMI, heart rate, sleep hours, etc. In such a scenario, when you renew your health insurance policy, the premium amount will come down.

    Craft tailor-made products and be competitive

    Personalisation is the new-age success mantra. Every industry is looking to craft tailor-made products, as per the needs of customers, and strike a chord with the target segment. The key data of the target audience is aiding health insurers create products suiting the needs of their customers.

    For example, health insurers can better understand the diseases affecting senior citizens such as Alzheimer’s and are coming up with specific mediclaim policy for this ailment. Some insurers are even adding coverage for this disease in their existing plans. Along with personalisation, it’s important to innovate.

  • These Everyday Habits Are Damaging Your Kidneys

    by nikesh lakhani | Aug 16, 2021

    If your #wellnessgoals2020 included glowing skin, clean eating and a healthier you, here's one organ you should be paying careful attention. Kidneys are an essential body organ which absorbs minerals and nutrients, act as filters for toxins and maintain healthy acid to alkaline ratio. However, there are certain habits which can damage them, leading to various ailments in the process.

    Smoking

    Smoking not only increases the risk of cardiovascular diseases but also narrows the blood vessels present in the kidneys, causing arteriosclerosis in the renal arteries.

    A habit which damages arterial branches, smoking also reduces blood flow in the kidneys and expedites loss of kidney function. Therefore, to protect your organs, it's in your interest to quit smoking at the earliest.

    Not urinating enough

    This is another habit which is significantly bad for kidney health. If you don't urinate enough, the body and the kidneys retain all the toxins meant to be flushed out.

    Over time this could lead to the formation of Lifestyle changes to keep kidney stones away that are quite painful. Also, it could result in developing of urinary incontinence, a condition which leads to leaking urine during coughing or sneezing.

    Not drinking enough water

    For the kidneys to properly function, they need to remain hydrated. This is possible only when you drink enough water. Lack of adequate water in the system leads to toxins getting accumulated in the blood. An easy way to find out if you are drinking enough water or not is to check your urine. If your urine is dark, it means the water intake is insufficient.

    Consuming too many sweets

    It's hard to resist the temptation for sweets, but eating too many of them too often can damage your kidneys. As per a study, consuming a lot of sweets could lead to a rise in the levels of uric acid, leading to cardiorenal diseases in the long run. If you have diabetes, consuming sweets can worsen the problem. Therefore, make sure to consume food that is low on sugar. For packaged foods, read the label before consumption.

    Too much salt intake

    This is another habit which can have a detrimental effect on your kidneys. Several people have the habit of adding extra salt to their food while eating. Consuming too much salt can raise blood pressure and may even lead to kidney stones. Hence, make sure to limit your daily salt intake for better kidney health. If you are an adult, you shouldn't consume more than 1 teaspoon of salt in a day.

    Skipping exercise

    Regular exercise not only keeps your body in top shape but also has a positive impact on your kidneys. Exercise keeps your blood pressure and diabetes in check, and weight loss positively affects renal function.

    Therefore, make sure to take some time out of your schedule and exercise regularly to maintain healthy body weight.

    Swallowing painkillers often

    Most people, even in the slightest of pain, consume painkillers. While they do help to subside the pain, taking these pills frequently can adversely affect the kidneys. Consuming painkillers, known as non-steroidal anti-inflammatory drugs (NSAID), often can make the body hold onto fluids, and this can damage kidneys in the long run. Before consuming them, it's essential to check with your doctor first.

    Not eating right

    To keep your kidneys healthy, plan your meals properly. Note that eating healthy always doesn't necessarily mean that you are eating right. If your kidneys are strained, then it's essential to avoid food that is high on phosphorus such as tomatoes, phosphorus-rich oatmeal, oranges, fish, meat and colas.

  • Now Mental Illness Will Be Covered by Health Policies

    by nikesh lakhani | Aug 16, 2021

    People in India are not aware of the adversities that one goes through while suffering from a mental illness. Be it financial or mental, one must seek support in times like these. Insurance regulator IRDAI issued a circular stating that insurers must cover mental illness, which is rapidly increasing in the country. Mental health conditions have always been excluded from health insurance policies.

    On May 29th, the Mental Healthcare Act 2017 came into being. The Act states that it is mandatory to provide insurance for treatment of mental illness. The insurance policy should cover ailments such as depression, schizophrenia, and bipolar disorder. But, none of the 33 insurance companies in India has launched a single product covering these.

    An executive from a top health insurance firm welcomed the move of providing health cover to those suffering from mental illnesses, stating that it will normalize the myths and stigma associated with the malady. This will make people aware of the problems faced by mentally ill patients and ensure a life of dignity for them.

  • How Can Runners Stay In Shape With a 9-5 Job?

    by nikesh lakhani | Aug 16, 2021

    Ways to stay in shape along with a routine 9-5 job

    Workouts are optimised around physiology and what we know about our body. Humans generally have a good capacity to expand energy for many hours during sustained exertion.

    For working people, long working hours are one of the most common reasons for not exercising. However for runners, the challenge is to be a ‘Ninja’ and plan stealthy workouts when the schedule is overflowing.

    Key Work-outs

    There are few key work-outs that every runner must plan for the week and are very essential. Typically these would be speed sessions, strength work-outs and long runs. This way there is time to recover and then run hard. The first run can be planned at the start of the week followed by the strength workout on Wednesday and long run towards the weekend.

    It is very important to warm up before all of your key workouts to elevate heart and respiration rates along with proper resting period as the body gets catabolic (the breakdown of tissues) when it hits aerobic capacity for too long. Short and Intense runs are good for speed work. 50m sprints would be helpful to move feet quickly and adapt a good running technique. The session need not last more than 60-90 minutes.

    Plan repeat runs against a hill or up-slope to build running strength. Butt kicks can be done on the way down. Long runs need to be faster than the average pace needed for the next race. The idea is to run negative splits - to finish faster than you start. It can improve mental toughness and build pace awareness.

  • Things to Know Before You Get Yourself Inked

    by nikesh lakhani | Aug 16, 2021

    The history of getting tattooed goes into the deep past of early divisions of Stone Age. However, in recent times, tattooing has become increasingly popular and has unfurled itself across professionals, genders, different economic classes, and various age groups.

    For some, getting inked is a fashion statement, for some, it’s a source of inspiration and for some, it’s a way to express their love and ideology, while for others it’s a creative art. No matter what your purpose is, it’s important to be well informed of the process and be adequately prepared before going under the needle to avoid its ill effects on your body.

    Here we’ve compiled a list of points that you should keep in mind before getting yourself inked:

    Be sure about your decision

    It’s imperative for you to be certain about your decision. Understand that tattoos are somewhat permanent in nature. Yes, they can be removed using laser treatment, but that’s a long and expensive process. In case of large and detailed tattoos, getting them off can be too frustrating. Also, keep in mind that with time, the color of the tattoo will fade, and its shape may also change owing to the changing folds of your skin with growing age.

    Know how it will affect your body

    The tattoo is created using a needle that ruptures your skin and deposit the tattoo ink at the point of rupture. The puncture goes beyond the epidermis, for the ink to stay. The needle reaches the dermis where it meets with the nerves and blood vessels. The ink used for tattooing is not exclusively made for the human skin.

    Also, it has been found that over the time, these pigments can assimilate in the liver through blood. Hence, before getting inked, be sure about your body will react to such foreign particles.

    Know your pain tolerance

    As mentioned above, tattoo needle penetrates deep into your skin to deposit the ink beyond the epidermis. Be informed that this can be a painful process. Hence, before you get under the needle, be aware of your ability to bear such pain and for how long you can sustain it, so as not to abandon the process in between, which may make it look ugly.

    Get a cost estimation

    Do not go after the cheaper options while getting yourself tattooed. It’s better to shell out few bucks from your pocket now rather than getting your skin infected with inferior quality inks and regret later. Also, ask the tattoo artist about the healing process and the maintenance costs post-tattoo. Before starting with the process, make sure you have a fair idea about the total amount of money that you would have to spend during the whole process.

  • How to Prevent Cataract at Any Age

    by nikesh lakhani | Aug 16, 2021

    Cataract is a vision disorder that can lead to blindness. Read on to know more about its prevention.

    According to a WHO report, cataracts are responsible for 51% of world blindness. It is also the main cause of vision loss in people over the age of 40, which makes preventing cataract essential. Before taking precautionary measures, it’s important to understand what cataract is and what are its effects.

    What Is Cataract?

    Cataract is clouding of the eye lens, which results in blurred vision. It occurs due to accumulation of protein on the lens surface, which blocks light to reach the retina. This results in reduced visual acuity and blurred vision, which makes things appear as if looking through a foggy window. Symptoms of cataract include blurred vision, frequent change in eyeglass prescription, increased sensitivity to light, seeing halos around bright lights, or double vision.

    Risk Factors for Developing Cataract

    Several risk factors contribute to the development of cataract, age being the most common one. The risk factors include:

    • Age: There is a greater risk of developing cataract as you grow older. This is because of exposure to environmental factors such as UV light, smoke, and other health disorders that lead to cataract.

    • Gender: Women have a higher chance of getting cataracts than men. Studies have linked this to menopause, which causes decrease in oestrogen levels leading to the development of cataracts.

    • Health conditions: Health conditions such as diabetes, hypertension, and obesity are also known to increase the risk of cataracts.

    • Environmental conditions: Exposure to UV rays and smoke directly affect vision and make one more susceptible to developing cataracts.

    Cataract Prevention Methods

    While there are debates on whether cataract can be prevented, research shows that there are measures you can take to reduce the risk of getting cataract. Here are some ways that can reduce your chances of getting cataract:

    • Lifestyle habits: Excessive smoking and alcohol consumption severely affect your eye health. Both these habits increase the chances of developing cataract. Reducing or quitting them is advisable for reducing the risk of cataract and an overall improvement in your health.

    • Diet: Ensure inclusion of vitamins, minerals, and antioxidants that promote eye health in your diet. Dark green leafy vegetable such as spinach, kale, turnip, etc. improve eye health. Besides this, sources of omega-3 fatty acids such as fresh water fish and flaxseed further reduce the risk.

    • Steroid medication: Usage of steroid medicine is said to increase the chances of developing cataracts. Know the risk factors or consult your eye doctor before starting new medication. It is better to avoid them unless specified by an ophthalmologist.

    • Protect your eyes: Exposure to UV rays hastens the development of cataract, even in younger patients. Always shield your eyes from UV rays, either with a wide-brimmed hat or sunglasses with UV protection while outdoors.

    • Diabetes: Studies show that diabetics are more prone to developing a cataract. It’s necessary for these patients to maintain their blood sugar to prevent cataracts. Take proper medication to keep a tab on your diabetes.

    • Regular check-ups: Schedule regular eye exams, especially as you grow older. Your eye doctor can detect cataract and other vision disorders when you cannot. With early detection, your doctor can prescribe the best treatment for you.

  • How to Choose the Best Health Insurance Plan with Cancer Coverage

    by nikesh lakhani | Aug 16, 2021

    Cancer awareness is essential in order to take an informed decision

    In spite of the progress in research and technology, cancer is still one of the most lethal diseases out there. While there are no guaranteed ways of reducing the risk of cancer, there is a responsible decision you can make to reduce the financial burden in the face of such odds.

    Need for Health Insurance with Cancer Cover

    The thought of being diagnosed with cancer is a frightening one but what’s more frightening is the probability of that becoming reality.About 70 to 90 percent of all cancers are because of environmental factors instead of the genetic make-up, and researchers predict that by 2020 there will be over 17 lakh cancer cases in India. Under the light of this information, it becomes crucial for oneself to protect their wellness by opting for health insurance with cancer cover.

    Cancer is a very taxing disease, physically and emotionally, but also financially. Cancer treatment involves massive costs that keep increasing as the disease progresses. The last thing a person suffering with cancer needs is the burden of the heavy treatment costs. A health insurance with cancer cover will be a much needed source of relief in such stressful times.

    Types of Cancer Covered by Insurance Plans

    Most insurance plans with cancer cover various types of cancers like lung cancer, stomach cancer, ovarian cancer, prostate cancer, breast cancer and more depending on the plan you opt for.

    Coverage Against Multiple Stages of Cancer

    There are four stages of cancer ranging from the early stage to the critical stage. An important thing to keep in mind while getting cancer cover with health insurance is to check whether it covers all the stages and meets the financial demands of each stage.

    Term of the Plan and Tax Benefits

    The term of the plan is essential. Some plans have maximum term of 20 years, which may seem like a long time now but if you get it at 30, it will cease to cover you once you turn 50. You should go through the term of different plans carefully and choose the one that suits your needs.

    Also remember, under section 80D of the Income Tax Act, cancer insurance plans are liable to avail tax benefits.

  • How to Carry Registration Papers Virtually With DigiLocker

    by Santosh Kevale | Apr 27, 2021

    As part of the Prime Minister's vision of Digital India, the government of India launched the DigiLocker app last year. The DigiLocker app, which is an online locker facility, allows you to upload and save all your government issued documents such as PAN card, aadhar card, driving license, property documents etc. online.

    With the integration of driving license and registration papers of your vehicle with the DigiLocker app, you need not to carry the original documents with you always. The government is also planning to issue these documents directly on the digital platform, thereby avoiding excessive paperwork.

    A Step Towards E-Governance
    The law enforcement agencies and traffic police will be equipped with apps and devices for spot verification of your online documents. This initiative is a major step towards reducing corruption and red-tapism and a major boost to e-governance and government's idea of making a Digital India.

    The DigiLocker app will bring agility and increase the efficiency of the entire process of issuance of driving license and registration certificate with the involvement of Information Technology (IT). The app currently has more than 4.2 million registered users, more than 6 million uploaded documents, and more than 1.6 billion issued documents.

    Registration and Set-up
    DigiLocker is an easy-to-use application with a user-friendly interface. With only a few simple steps, you are ready to go. Here's the simple process that will help you keep your license and registration papers with you, anytime and anywhere on the go.

    Step1: Download the DigiLocker app from Play Store or App Store on your smartphone and open it after installation.

    Step2: You will get two options, Sign In and Sign Up. If you are an existing user select Sign In to login with your existing credentials and if you are a new user select Sign Up to enter your details and register.

    Step3: To sign up for the first time you need to enter your 10 digit mobile number after which a One Time Password (OTP) will be sent to your mobile. Once verification is done, you can create a username and password for future login.

    Step4:In the next step, you need to link your aadhar card to access the services of the app. Enter your 12-digit aadhar number and once again, an OTP will be sent for verification. Post verification you are ready to use the app to store your documents.

  • Safety at Workplace: A Case Study

    by Santosh Kevale | Apr 27, 2021

    Alarming rise in cases of workplace casualties

    India ranks second when it comes to workplace accidents and illnesses. In fact, the International Labour Organization (ILO) reports that globally, every 15 seconds, 153 workers meet with an accident at the workplace.. It would be good idea to opt for a health insurance  policy to cope with any accidents at the workplace.

    Apart from that, on an average everyday around 6300 people, worldwide, die from occupational accidents or work-related diseases.

    From these staggering statistics, one can identify that human loss has been immense due to unsafe work environments.

    To classify these incidents, there are primarily three types of hazards, workplace fatal, non-fatal and physical injuries, and occupational diseases. Out of which workplace accidents take the top spot.

    The Tragic Incident of Dombivali Factory Blast

    In May 2016, the chemical factory owned by Probace enterprises exploded at Dombivali East in Mumbai MIDC area. The incident caused the death of 12 people and injured around 201. The impact of the explosion affected the people at the nearby residents and shops.

    The mysterious blast resulted in the shattering of glasses and rooftops in a two-kilometre radius from the factory. Resulting in many reported cases of trauma victims, the incident noted prominent injuries due to the cuts from the shattered glass pieces.

    With the cause for the accident still being investigated, the loss of people remains uncompensated. The injuries and deaths left people with deep scars both physically and financially.

    Framework for Safety in Indian Workplace

    In the past 50 years, India has witnessed an immense growth in the manufacturing, industrial and technological fields. With the upscale in business, the number of dangerous incidents in workplace is bound to increase unless stricter, more refined laws and implementations are followed.

    Although the Indian Constitution contains a system for occupational health and safety, it only applies to certain restricted industries. It still keeps a huge part of the workforce outside the scope. According to international studies, many workers employed in smaller factories and industries in India are not provided with any legal and healthcare protection in the instance of an accident on the job. So, in this case a personal accident insurance  would be a good friend, which keeps you covered against any unforeseen circumstances.

    Ways to Prevent and Protect Against Workplace Hazards

    The rising workplace accidents can be mitigated by consciously taking measures. Some of the safety pre-requisites are as follows:

    • Employee responsibility of being alert and aware of volatile surroundings
    • Proper safety equipment for operating tools and heavy instruments
    • Reduction in stress and distraction in workplace through appropriate and timely breaks
    • Proper and regular maintenance checks on heavy machinery
    • Organizing safety classes in workplace
    • Precautionary measures through healthcare aid and insurance policies for workers
    • Ease of accessibility to emergency exits and paths in case immediate evacuation is required
    • Coverage for risks in special environments involving chemical and other combustible processes
    • Accountability through reports sent to higher authorities even of the smallest inconsistency concerning safety
  • Burglary Insurance and First Loss Policy Explained

    by Santosh Kevale | Apr 27, 2021

    Demystifying the coverage of burglary insurance

    While insuring your assets is essential in today’s time, the question of adequate coverage often remains unanswered. This fact is substantiated by the annual report of the Insurance Regulatory and Development Authority of India (IRDAI) for the financial year 2014-2015, which reflects the low insurance penetration in our country and the claims incurred ratio for the general insurance sector.

    The insurance gap in the country can only be filled by complete knowledge of coverage and disclosure of facts by the insured. Thus, understanding the minute details of your policy document becomes utterly crucial. And, when it comes to customised policies such burglary and special perils, observations reveal that policyholders often miss out on coverages or pay for a coverage they won’t need.

    What is covered under a standard burglary policy?

    A standard burglary policy can be classified into three types, namely, total loss, first loss and stock declaration policy. A total loss policy covers for the full value of the property insured, whereas a first loss policy allows a proposer to insure a certain percentage of stocks when the probability of the entire stock being stolen is less.

    Thus, under a first loss policy, in case you anticipate that only a certain amount will be burgled, you can opt to insure only the maximum amount you wish to be protected for. Although, it ensures you pay lesser in premiums, the same may back fire in case the losses extend beyond your sum insured.

    If your inventory keeps fluctuating the year round, you will need a stock declaration policy. Under this policy, the sum insured will be fixed at the maximum value of your inventory that you anticipate to hold at any point of time.

    Such policies cover the loss or damage caused to the property only by forcible and violent entry into the premises as under the definition of ‘Burglary’. Damage caused by any other means is not covered and the compensation provided will be to the extent of the basic value of the property, subject to maximum limit.

    What is excluded from a standard burglary policy?

    The insurer will not be liable for the theft of luxury watches, jewellery, money, gold, precious stones, drawing artefacts, etc. unless these are specifically insured. The insurer will also be not liable for the loss if the damage is caused by insured or any member of insured's household or staff.

    Besides, the policy ceases to exist if:

    • The property is left uninhabited for more than a week
    • The material is positioned at a relatively riskier place
    • The interest of the insured has passed on to another person through will or operation of law

    How to make a claim?

    In the event of a theft or burglary, you should immediately report the police and also notify the home insurance provider within a period of 14 days to submit your claims for the loss or damage sustained. Any claim notified beyond the stipulated period will be rejected by the insurance company.

  • #NotFAQs: The what, why and how of a Vehicle Identification Number

    by Santosh Kevale | Apr 27, 2021

    If you’ve ever bought motor insurance, you’re likely to have come across the terms Vehicle Identification Number or VIN and chassis number. You must wonder why insurance companies insist on having this information. That’s because VIN is like a genetic identifier for your car. Think of it as the vehicular equivalent of a thumbprint.

    What is a VIN or chassis number?

    Vehicle identification number or VIN is a set of 17 characters that are unique to the vehicle, like a vehicle’s unique identity code. Yes, it is used interchangeably with chassis number because it’s stamped to the chassis of the vehicle, although strictly speaking, chassis number is part of VIN. If you locate VIN, you can identify the chassis number.

    Issuing a VIN to every vehicle is standard practice across the world. It helps to mark out every vehicle whether commercial or private, make, model, manufacturer and year.

    But why 17?

    The alphanumerical sequence actually denotes important information. The several components of VIN are described below to help you understand your vehicle better. Please note that this is a generic break-up that is followed by most manufacturers.

    The first three characters in the VIN are referred to as WMN and symbolize the country of origin and the manufacturer. The first character reveals the country where the vehicle was built. The next two characters reveals the manufacturer.

    #DidYouKnow – The Society of Automotive Engineers in the USA assigns WMIs to countries and manufacturers. For India the WMIs are MA-ME & MZ. The Bureau of Indian Standards receives the WMIs from SAE and allots them to Indian vehicle manufacturers.

    Vehicle Description Section

    The next six alphanumerical sequences are the key to your vehicle’s details. The VDS also varies from manufacturer to manufacturer.

    • The 4th character tells you the vehicle type; whether it’s a scooter or a sports bike and so forth.
    • The 5th character stands for engine movement or the power range of the engine.
    • The 6th character tells you the type of engine that runs your vehicle. For e.g. whether it is a double strike or single stroke engine.
    • The 7th character shows the sequence of design.
    • The 8th character denotes the vehicle version.
    • The 9th number is a check digit to maintain VIN accuracy.
    • The 10th character helps to identify the year of manufacture of the vehicle.
    • The 11th character identifies the plant where the vehicle was manufactured.

    The character from 12th to 17th is the vehicle’s serial number or chassis number.

    Got it! But where in my car is it stamped?

    This differs from vehicle to vehicle but it’s usually to be found in the following places:

    • On the door frame of the front doors. Mostly it’s the driver’s side but could also be stamped on the passenger side.
    • On the dashboard near the windshield.
    • On the steering wheel or the steering column.
    • In the inner wheel arch towards the left hand side.
    • Radiator support bracket.
    • On the car’s registration papers.

    And where can I find the Vehicle Identification Number on a bike?

    As in a car, in a bike too, VIN is located differently in different models. Often, the chassis number of the bike can be found near the handle or the motor. If you still can’t locate it, you’re sure to find it mentioned in your bike registration certificate.

    Is it possible to check for it online?

    Yes, you can. VAHAN, the Ministry of Roads and Transport’s online registry database hold vehicle registration details through which you can track down your vehicle details. Just follow these steps:

    • Visit the VAHAN website
    • Click on Know Your Vehicle Details
    • Type your car’s registration number
    • Hit ‘Search Vehicle

    In order to meet privacy norms, the website does not provide the entire chassis number.

    Good to know! What role does VIN or chassis number play in motor insurance though?

    Well, the better we know your vehicle, the better we can help if the need arises. Knowing the Vehicle Identification Number/chassis number of your car or two wheeler, at one go, gives insurance players like us information that is crucial. In insurance, chassis number is reviewed to authenticate ownership and existence of the vehicle. For e.g., a car may have been written-off/stolen and sold again to an unsuspecting buyer. The insurance company, through VIN can authenticate the car or bike at the time of policy purchase. This helps to end fraud and counter bogus claim settlements. Vehicle Identification Number specially comes in handy during a claim where total loss of the vehicle has been declared. It’s also used to track down theft. The only instance where chassis number changes is when an insurance company pays a claim for replacement of the vehicle body. The chances of this happening, however, are few and far in between. But in case it does, the RTO is immediately notified.

    #DidYouKnow- Chassis number can also be used to identify the type and exact shade of paint used on the vehicle. This information however, is only available with the manufacturer-repairer. VIN can also be used to order specific body parts of your car in case they need replacement.

    Aside from insurance, VIN also becomes important if you’re thinking of buying or selling a second hand vehicle. By running a check on the car’s Vehicle Identification Number or chassis number, you can also establish if the vehicle has been obtained by illegal means , whether it has been used in any bike insurance or car insurance fraud, if it has ever been put up for auction, etc. Manufacturers also use VIN to issue car recalls, so it’s handy information to have if you’re buying a second hand car. By doing some research you can see if the particular model was ever recalled owing to any defect.

    #DidYouKnow- VIN can also be used to get a FASTag in case a RC hasn’t been issued to the owner of a new vehicle.

    Will keep this in mind going ahead. But going back in time a little, when was VIN first used?

    The implementation of VIN started in the year 1954 and like every alien attack on screen ever, in the United States of America. If you scrutinise economic history, you’ll notice it coincides with the car manufacturing boom that happened in late post-war United States. It was a time when cars started to get made in large numbers and with greater engine capacity. Although from 1954 – 1981, there was no standardisation so manufacturers used different formats. In 1981, the US Department of Transport required all vehicles plying to have a 17 character VIN. This pretty much set the format for the rest of the world.

  • What is Vehicle Registration Address and How to Change it?

    by Santosh Kevale | Apr 27, 2021

    Driving your own vehicle may provide immense pleasure to you. Apart from signalling the new-found independence and financial stability, it reflects your pride and status. However, regardless of the reason, purchasing a new car or two-wheeler also brings along certain legal responsibilities with itself.

    Before the wheels are in motion, the law requires you to have a valid driving license and a motor insurance plan for your vehicle. While the former is obvious, a vehicle insurance policy is required for covering you against the third-party liabilities that you may incur while driving on-road, apart from securing your newly-purchased machine against damages and mishaps.

    Similarly, you need to obtain the Registration Certificate (RC) of your vehicle from the registration authorities under the Public Vehicles Department of India. As per the 2017 amendments to The Motor Vehicles Act of 1988, driving an unregistered vehicle without proper registration address is illegal and considered a punishable offence.

    What is Vehicle Registration?

    Registering your vehicle with the Regional Transport Office (RTO) of your area is mandatory under the Motor Vehicles Act. It includes the process of imbibing the credentials of your vehicle in government records after its due verification. It helps in establishing a link between the motor vehicle and the owner of that vehicle.

    As per the law, a car, two-wheeler or any other type of vehicle must have two high-security registration plates (HSRPs) installed at the front and back of the vehicle. If one of these number plates are missing, then the vehicle-owner or driver can be fined by police or other authorities.

    These HSRPs contains the registration number of the vehicle in modern Hindu-Arabic numerals with Latin letters, as prescribed by the RTO. The registration number of the vehicle follows a specific format. For instance, if the number plate reads ‘MH O4 EG xxxx’, the break-up of it is as follows:

    • ‘MH’ are the initials of the state in which the vehicle is registered. In this case, ‘MH’ stands for Maharashtra.
    • ‘04’is the code of the Regional Transport Office (RTO). In this case, it represents the Thane and Mulund region of Maharashtra.
    • ‘EG’ are two letters which represents the series of alphabetical order in which all the cars are registered within the specified RTO.
    • ‘XXXX’ is the four-digit unique registration number allotted to the vehicle.

    You can even opt for customized registration numbers by paying a supplementary fee to the RTO. Additionally, the RTO also holds an auction for classic or fancy numbers as well.

    Why is it Important?

    Registering your vehicle is mandatory under the law and is also essential for establishing the proof of ownership of your vehicle. It is required for the purpose of sale of the new vehicle or for the transfer of ownership of the vehicle when you plan to resell it. Cars and two-wheelers with proper vehicle registration are only permitted to ply on Indian roads.

    How to obtain the registration number of your vehicle?

    As soon as you purchase a new vehicle, the dealer applies for its registration at the local RTO. Upon the receival of an application to register a vehicle, the RTO provides a temporary registration number so that the vehicle can be driven on road for RTO visits and other official errands. After the issuance of temporary registration number, you will be provided a permanent registration certificate within a month or so, confirming the ownership of the vehicle in your name.

    The registration certificate for a newly purchased vehicle is valid for 15 years and then it has to be renewed every 5 years. In case you’ve to move to another state or union territory, you can drive your vehicle with the previous registration address for a maximum of 12 months, post which you need to re-register it with the local RTO.

    How to Change your Vehicle Registration?

    Under special circumstances such as the one mentioned above, you may have to re-register your vehicle with the new RTO and apply for the change in its registration address. For this, you need to visit the local RTO, where you want to transfer the vehicle, along with the following documents:

    • Application in Form 33
    • Original Registration Certificate
    • Proof of new address
    • Valid motor insurance certificate
    • Pollution under control certificate
    • No Objection Certificate (NOC) from the original RTO
    • Attested copy of PAN card or Form 60 and Form 61 (as applicable)
    • Chassis & Engine Pencil Print
    • Signature Identification of owner
  • 5 Safety Tips to Avoid Accidents Due to Over-Speeding

    by tanvi staging | Apr 23, 2021

    According to a study conducted by United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), India loses USD 58 billion in a year due to road accidents. The value is equivalent to nearly 3% of the country’s GDP. Moreover, majority of the road accidents happen due to over-speeding.

    Effective measures, such as imposing stricter penalties and mandating carmakers to add safety features in vehicles, have been taken by the government. However, it’s also our responsibility to abide by the traffic rules and regulations while driving. While it would be a good idea to opt for an health insurance , it is also advisable to know how to avoid accidents due to over-speeding.

    Drive Under the Speed Limit

    Over-speeding is cited to be the most common reason for majority of road accidents. Although, it may give bouts of adrenaline or help you reach your destination faster, it is illegal as well as lethal. The most effective way to avoid accidents is to drive under the prescribed speed limit.

    Whereas, driving safely makes you feel in control and responsible for your driving. It also, automatically, curbs the urge to speed. Although, an personal accident insurance  policy would help you take care of the monetary consequences, it is more important to be a responsible citizen and drive within the speed limits to avoid accidents.

    Do Not Drink and Drive

    Drinking and driving not only leads to over-speeding but also results in slowing of one’s reflexes while driving. Driving under the influence of illegal substances such as drugs or alcohol is a punishable offence. Despite being aware of these facts, people drink and drive on several occasions. In addition, the culture of corruption and bribing the officials, contributes to the casual attitude towards drunk driving.

    However, with government taking stricter actions in the form of hefty fines and imprisonment of minimum 6 months, there has been a sharp decline in these cases. It is strictly advisable to refrain from consuming any illegal substance while driving to avoid accidents. In case, you feel the urge to drink and have to drive back home, then request your friends or acquaintances to drop you to your place.

    Avoid Speeding on City Roads

    The congested roads, pollution and traffic in cities often result in spending more time sitting inside the car and becoming frustrated. Due to this, people often over-speed to skip signals or to overtake other vehicles. This results in collision with other cars or pedestrians. According to government data, 133 two-wheeler occupants and nearly 10 cyclists were killed daily in road accidents in 2017. This data also sheds light on the need of a suitable car insurance policy, which is mandatory by law.

    Also, new drivers feel the urge to speed their cars to showcase their newly-acquired driving skill, which often results in grave accidents. It is important to not give in to frustration and speed on city roads to skip signals or to show-off your driving skills. When driving, keep calm, and put on some music to keep yourself engaged and avoid accidents.

    Avoid Racing with Others

    It is thrilling to speed and race with other cars, however, doing so could lead to penalties, accidents and, maybe, even cancellation of driving license. There are places for driving at high speed, however, public or city roads are not one of them.

    Racing with other cars on public roads is not only dangerous to the people in the vehicle but also to the pedestrians, who are most vulnerable on roads. Hence, it is important to be mindful of the places or the city zones one is driving through, in order to adhere to speed limits and avoid accidents. Racing with other cars on public roads is not only dangerous to the people in the vehicle but also to the pedestrians, who are most vulnerable on roads. Hence, it is important to be mindful of the places or the city zones one is driving through, in order to adhere to speed limits and avoid accidents.

    Leave On Time to Reach On Time

    In this fast-paced environment, people are always running late to reach their destinations. Due to poor infrastructure, congestion and traffic many get late for their appointments/meetings, etc. These instances, encourages them to over-speed, cut lanes and overtake other vehicles.

    Although, these tricks can save them a couple of minutes, they often result in accidents. It is important for people to realize that reaching somewhere on time by rash driving and over-speeding can cost them their lives.

    Hence, one should make sure that they plan their appointments/ meetings well in advance and keep enough buffer time to reach their destination. This will not only curb their urge to over-speed but also avoid accidents.

  • Autistic Kids: Special Insurance for Special Needs?

    by tanvi staging | Apr 23, 2021

    Taking care of autistic kids is expensive, making a special cover for them a necessity

    The number of children living with developmental disabilities like autism is on the rise. Globally, 1 in 68 children are diagnosed with Autism Spectrum Disorder (ASD), as per the statistics from the Centre for Disease Control and Prevention’s Autism and Developmental Disabilities Monitoring Network.

    In such a situation, general insurance companies are looking to provide covers for the disease or at least specific add-ons to existing health insurance policies.

    Current Situation

    Currently, there are very few policies in the health insurance market to cover autism-related expenses. More often than not, parents cover the expenses for the treatment of this disease from their own pocket, and usually also have to create a corpus for their child’s lifetime, since the child may not be able to work.

    The Indian government however, has done something to combat this situation. The government offers a health insurance scheme called ‘Niramaya’, which offers a sum assured of up to ₹1 lakh for the treatment and care of children with developmental disabilities like autism, cerebral palsy and so on.

    The scheme covers outpatient treatments including those for pre-existing ailments, and expenses for corrective surgeries and non-surgical hospitalisation. It comes at an annual premium of ₹250 for families with a monthly income of less than ₹15,000, and an annual premium of ₹500 for those with a monthly income higher than ₹15,000.

    Among private insurers though, there aren’t many schemes that offer a special cover for developmental disabilities. This is because they are not sure of the viability of launching standalone health insurance policies for autism and other such developmental disorders.

    Coverage Required

    However, the question arises of whether the cover of ₹1 lakh that the government scheme offers is actually enough. You see, ASD affects a child’s development including his/her speech, gestural, non-verbal and social interaction with his/her peers. So, it’s not just paediatrics that needs to be taken care of with ASD; therapy for all the above also becomes necessary.

    That is to say, an autistic child would require multi-disciplinary treatment. So, along with regular visits to a paediatrician, they would need assistance and care from a psychiatrist, a counsellor, a special educator, a speech therapist and an occupational therapist. Consulting all of these people is quite expensive, and can lead to the annual cost of treatment being as high as ₹2-3 lakh.

    Moreover, children with ASD are accident-prone, and the treatment and care for these accidents further add to the cost of treatment. Therefore, one would require a cover of minimum ₹4-5 lakh to cover the complete cost of treatment for autism.

    Mr. Sanjay Datta, Chief - Underwriting and Claims, ICICI Lombard General Insurance, believes that adding a customised offering for autism to an existing health insurance product could go a long way in providing financial relief to parents with autistic children.

  • Renew Your Expired Motor Insurance Policy with Ease

    by tanvi staging | Apr 23, 2021

    A remarkable feature called Mobile Self Inspection has been introduced by ICICI Lombard in their Insure app. It allows insurance subscribers to renew their expired motor insurance conveniently.

    It cuts back on the time that is normally required for mandatory inspection by an authorised surveyor. The mobile self-inspection is triggered only when a motor insurance policy expires and there has been a considerable time lapsed from the renewal due date.

    A process called Break-in is commenced by the insurer when a subscriber seeks for renewal of an expired policy. In this procedure, the policy is issued based on successful investigation. Now, a new policy will be issued by the customers without manual investigation. The policy needs to be renewed by online payment through ICICI Lombard's website or mobile app.

  • Face Off: Health Insurance Super Top-Up vs Top-Up

    by tanvi staging | Apr 23, 2021

    There are some key differences that make super top-ups highly beneficial.

    Inflation and demand for specialty healthcare have led to a rise in basic medical expenses. In case of hospitalisation and a claim, one often realises that while having a complete health insurance policy was a great financial decision, the sum assured was a constrain. It is often noted that rising healthcare costs render the cover insufficient.

    Thankfully, you can avoid such a situation by opting for either a top-up plan or a super top-up plan. In some cases, a third alternative is to opt for an additional policy. However, for most cases, a top-up is the ideal way ahead as it enhances the sum assured of your base plan to cover the shortfall. Let us learn more about Top-Ups and Super Top-Ups:

    Top-Up Plans

    The Top-Up allows you to make a claim that exceeds the deductible value & the sum assured of the base policy during a single hospitalisation. All claims are treated individually in this cover and multiple claims under the same policy period are not aggregated. The deductible is the limit set in your policy schedule.

    Super Top-Ups

    A Super Top-Up pays claims for cumulative medical expenses within a policy year once it exceeds the deductible and the sum assured of the base policy. It offers coverage not payable by your top-up or base plan. Such a plan can be availed from any insurer and is not limited to your base policy insurer.

    While both top-ups kick in only after the claim amount exceeds the deductible and the sum assured of the base policy, the difference lies in its working. The illustration below will help you better understand how both these plans are beneficial.

    Situations Top-Up Cover Super Top-Up Cover
    Policies Mr. Sharma has a base health insurance of ₹5 lakhs sum assured.
    In case he buys a Top-up plan of ₹10 lakhs with ₹5 lakhs as the deductible In case he buys a Super top-up of ₹10 lakhs with ₹5 lakhs as the deductible
    Case 1: Single claim of ₹12 lakhs Health Insurance plan will cover ₹5 lakhs. Top-up plan will cover the remaining ₹7 lakhs as it exceeds deductible. Health Insurance will pay ₹5 lakhs. Super Top-up will cover the remaining ₹7 lakhs as it exceeds deductible.
    Case 2: Two claims of ₹4 lakhs each Health Insurance will cover for the ₹4 lakhs of first claim and ₹1 lakh of second claim. There will be no claim pay-out from Top-up Plan, as the individual amount of the claim does not exceed ₹5 lakhs. Health Insurance will cover for the ₹4 lakhs of first claim and ₹1 lakh of second claim. Super Top-up will cover the remaining ₹3 lakhs.
    Case 3: Claim of ₹7 lakhs and ₹4 lakhs Health Insurance will pay ₹5 lakh from first claim Top-up Plan will pay the remaining ₹2 lakhs for the first claim. No claim is payable for second claim as it does not exceed the deductible limit. Health Insurance will pay ₹5 lakh from first claim Super Top-up will cover the remaining ₹2 lakhs for the first claim and ₹4 lakhs for the second claim.

Most Recent Blogs