There are few insurance plans that are essential for everyone and you should never neglect them in your life. Ignoring them can cost you dearly in the long run and you should always be prepared with such plans to secure your life. When it comes to insurance policies, most people are aware of life and vehicle insurance plans as they are very popular. However, many people tend to ignore health insurance and travel insurance plans. The concept of home insurance is still very new to many people and they are not aware of its benefits. In this article, we try to explore some of the best options you can choose for your life and secure it in future from various hassles.
Life Insurance
Your life is precious and you need to secure it with a proper insurance plan. Remember that the life of your family members also depend on your life and ignoring this can affect the entire future of your family members. Imagine a situation when you are not there to fulfill the dreams of your dependents and you do not have any insurance cover. This can destroy their lives when there is no financial security. The best way to avoid this is to secure your life with a good insurance plan from Oriental Insurance or any other reputed company.
Term Insurance Plan
This is the basic coverage that you can get for very less price. Remember that it offers simple coverage for the life of the insured person and if the person dies during the tenure of the policy, the sum assured amount will be given to the nominee. In this way, any person can get insured for suitable amount depending on the earning capacity and secure the family members from adverse situation in future. In most cases, there will be no benefits when the person survives the tenure of the policy. The policy usually lasts for a long duration and it is a good idea to start the plan in young age as the premium will be very less in that situation.
Unit Linked Insurance Plans
This plan covers some of the drawbacks of term insurance plans and you can get your money back after the maturity of the policy. In this option, some portion of the money put into the policy will go towards investing in the market and this provides good benefits in the long run. You can choose to invest in equity-related funds or debt related funds as per your risk appetite. However, even insurance is given priority and a portion of the money put into the policy goes towards providing insurance. In this way, you get the best out of investment and insurance in a single deal.
Accident Cover
It is very important to secure yourself and your family members against accidents and your regular policy may or may not include such coverage. If you are not having such protection from your existing policy, make sure to choose the additional accident benefit cover and this can provide relief in that troublesome situation. You can even choose the permanent disability cover and this will be a huge protection in the event of a major accident. Remember that you may not be able to actively pursue your career after such a major accident and having such coverage will benefit you and your family members to have some financial stability.
Pension linked plans
Many people working in the private sector do not have a proper plan towards their retirement and this can become a huge problem at a later stage in life. To avoid such problems, you need to invest your money in a pension plan and you can choose such plans that come with insurance options. You can approach the executives of Oriental Insurance Company or others to know more about such plans.
Health Insurance
The cost of treatment is going up every year and this is a matter of concern for many people. You need not to worry about this when you are secured with a good health insurance plan. This will help you to get suitable reimbursement for all the medical expenses and you need not worry about expensive treatment. The pre-existing diseases can also be covered in such plans and you can choose this policy for yourself and your family members. Some companies also offer such coverage for their employees.
Automobile Insurance
It is mandatory to get automobile insurance and this will not only secure your vehicle but also cover up for the damages done to your vehicle or by your vehicle to the third party. Let us look into some of the important types of automobile insurance available in the market. Note that you can get the best deals in this regard when you choose the excellent plans from Oriental Insurance and other reputed service providers. Make sure that the service provider has a good number of network garages in your area before you buy such policies from them.
- Two Wheeler Insurance
- If you are having a new two-wheeler, you can go for the comprehensive insurance plan that offers coverage even from theft and natural disasters. On the other hand, for old vehicles, you can go for the inexpensive third party cover and this will be enough to fulfill the mandatory insurance guidelines. You can even choose the multi-year insurance plans and get to save money on the insurance deals.
- Car Insurance
- In most cases, it makes sense to choose comprehensive covers for cars as they are expensive when compared to two-wheelers. If you have a good track record and have not made claims in the previous year, you can get a good discount on the premium. You can even choose various add-on covers as per your individual needs and budget for the insurance policy.
- Commercial Vehicle Insurance
- When you are having a fleet of vehicles used for commercial activities, you can choose insurance from reputed companies like Oriental Insurance Company as they offer good service and have good reputation in the market. However, you should make it a point to compare various other options before you choose any plan for your vehicles.
Travel Insurance
Many people are not even aware of such coverage and they tend to face a lot of problems during their tour whenever some untoward incident happens to someone in their group. To avoid such problems, you can get in touch with Oriental Insurance or other companies and inquire about the suitable travel plans available with them. If they do not have a suitable plan, you can check other options on the Internet and get yourself covered during your tour.
- Domestic Travel Insurance
- This plan is suitable when you are traveling within your country and it is very inexpensive when compared to international travel cover. You can get suitable cover for medical expenses and other damages that happen during the tour.
- International Travel Insurance
- This is compulsory in many cases when you are traveling to foreign countries and it will protect you from many problems during your tour. Apart from covering emergency medical expenses and other critical problems, you can even get compensation for delay in flights and cancellation of flights. You can also get support when you lose money or important documents during your tour with such policies.
- Corporate Insurance Plans
- This is the best option for companies that frequently send their employees on business tours. They can buy the travel coverage in the group and secure every member in the team. In this way, the burden of the company to compensate for any untoward incident during the tour reduces and everything will be handled by the insurance company.
Home Insurance
When you have spent a lot of money on your home, it makes sense to protect it with a proper insurance. Always seek guidance from executives of Oriental Insurance or any other reputed company about such plans and secure your home with the best policy.
- Theft protection
- This is a common problem and many house owners suffer from theft and burglary. You can get suitable compensation in such cases when you have a good home insurance plan that comes with theft cover. This will be a huge relief when you have valuables at home.
- Home Loan Insurance
- Most people take a home loan and they have a long duration to repay the loan. If something untoward incident happens to the homeowner during this phase, the burden of repaying the loan falls on the family members or else the bank will take up the property. This can be avoided by choosing home loan insurance which offers coverage for the life of the homeowner. In the event of a death of the homeowner during the tenure of the loan, the remaining installments will be waived off and this will financially secure the family members.
- Natural Disaster and Fire Insurance
- It is also important to secure your home from fire accidents and getting the proper home insurance plan will help you in this regard. In the same manner, natural disasters like floods and heavy rains can also damage your property and you need to secure your home from such issues with a proper home insurance plan.
There were some important insurance policies that everyone must have. You can choose which ones are essential to your lifestyle and occupation.
