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      Pradhan Mantri Suraksha Bima Yojana (PMSBY)

      Thursday, May 28th, 2015 Amritesh one response

      In the Budget Speech of 2015-16, Our Hon’able Finance Minister Shri Arun Jaitley announced few schemes which would address the social security and welfare issues. The most notable being Pradhan Mantri Jeevan Jyoti Bima Yojana (Term Insurance), Pradhan Mantri Suraksha Bima Yojana (Accident Insurance) and Atal Pension Yojana (APY). It is a big step towards getting the majority of Individuals insured so that they can enjoy some kind of financial security in the future.  Click on this Link to Read about Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJB)Click to Read About Atal Pension Yojana (Retirement Plan)In this post I will discuss about the Pradhan Mantri Suraksha Bima Yojana (Accident Insurance) for Individuals at a very affordable rate and should be…

      Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJB)

      Sunday, May 24th, 2015 Amritesh no responses

      In India, a large proportion of the population still does not avail any kind of insurance cover which may compensate the dependents/family members in case of any tragic turn of events (death/illness/accident) of an individual.Thus to boost the Social Welfare and Security System few schemes were announced by our Hon’able Finance Minister, Mr. Arun Jaitley during his Budget 2015-16 speech. The schemes included Pradhan Mantri Jeevan Jyoti Bima Yojana (Term Insurance), Pradhan Mantri Suraksha Bima Yojana (Accident Insurance) and Atal Pension Yojana (APY). These schemes aim to provide social protection to the individuals so that they can reduce their financial burden to a certain extent and sustain themselves.In this post I will discuss some of the salient features about the…

      Accident Insurance Policy

      Sunday, April 12th, 2015 Amritesh no responses

      Accident Insurance Policy is another form of Health Insurance Policy which insures incase of Accidental Death and Dismemberment of the insured. The Policy benefits are paid to the beneficiary in case of death due to accident. Benefits are also provided according to terms and conditions of the policy in case of Total/Partial Disablement suffered in an accident by an insured individual. The Accident Insurance Policy is offered by Non Life Insurance Companies and is regulated as per the norms set by Insurance Regulatory Authority of India (IRDA).The Accident Insurance coverage is available from Rs 1,00,000/- to anything in Crores. The premium on these types of policy is very nominal and is pretty affordable. The minimum age of the proposer of…

      Mediclaim (Cashless) Insurance

      Sunday, April 5th, 2015 Amritesh one response

      Mediclaim Insurance is a Health Insurance which covers your medical and hospitalization expenses incurred by you up to the limit of sum insured. The Insurance Company reimburses the payment made by you on submission of necessary documents or directly pays to the hospital (also known as Cashless facility). These Insurance policies are offered by Public as well as Private Sectors.The Mediclaim (Cashless) Insurance offered by non Life Insurance Companies is regulated by norms set by Insurance Regulatory Authority of India (IRDA). Insurance Companies have tie ups with certain Hospitals and Nursing Homes for providing Cashless Facility. The settlement and processing of claims is done by the TPA’s (Third Party Administrator) who are appointed by the respective Insurance providers. The TPA’s…

      Health Insurance: A Must For You And Your Family

      Sunday, January 18th, 2015 Amritesh no responses

      Health Insurance is gaining prominence with ever rising Medical Expenses and changes in life style leading to people being more prone to diseases. In the year 2016 it is expected that around 50% of the population in India will be covered by some form of Health Insurance. Government sponsored health insurance schemes is aimed at the poor trying to provide them the much needed coverage. The Central Government runs three prominent schemes, namely, Employees State Insurance Scheme, Central Government Health Scheme and Rashtriya Swasthya Bima Yojana.In the Budget 2016, Finance Minister announced Health Insurance cover of Rs 1 lac per family under the National Health Protection Scheme (NHPS) for economically weaker section of the society. Senior Citizens above the age…

      Life Insurance: Assurance And Investment

      Sunday, April 13th, 2014 Amritesh no responses

      Life Insurance is assurance by the Insurer that upon the demise of the insured person the claim amount as per the contract or agreement will be paid to the nominee of the Insurance holder in exchange of the premium paid by the insurer for the same. The payment of premium can be on the monthly, quarterly, yearly basis depending on the terms agreed upon. There are various types of Insurance policies in the market which not only provide Life cover but also provide additional benefits such as Accidental and Disability benefits. Life Insurance is very essential for every individual as you are not aware about the future shortcomings. Moreover you have responsibilities and obligations to fulfill which make insurance even…

      Savings, Investments And Insurance

      Sunday, February 2nd, 2014 Amritesh no responses

      Savings, Investments and Insurance are the terms we often come across and many of us treat is as same. But in reality this is not true. Many of us may feel that the term may look identical but when you look at it carefully you will realize there lies a point of difference. However though, they might mean different in the practical world but their interrelation cannot be ignored. Savings, Investments and Insurance are not only interrelated but they are also interdependent on each other.Savings generally means to save a portion of your earnings to meet your future shortcomings or obligations that may arise. It is generally for meeting short term needs and for specific purpose. Savings do not vouch…