General Insurance

General Insurance has evolved to become as important as life insurance. A look at some categories can no longer be over looked.

Insuring your belongings can help you cushion yourself against finance losses. While life insurance takes care of your loved ones, it is equally important to safeguard your treasured possessions. here‘s a quick look at the must haves under general insurance.

Travel Insurance

Accidents can happen anytime – worse if they happen when you are in a foreign land. You may get sick and meeting your medical Bills in a foreign currency can be quite frustrating! Besides there may be other tricky situations such as accidents loss of baggage or passport, trip cancellation, flight delays, plane hijack etc. Whether you travel for leisure business or studies travel insurance comes handy to safeguard your trip against contingencies and that too, at a fraction of the cost of your trip.

Home insurance

For most of us, the home is the safest place to be, nevertheless they are exposed to nature’s fury or man made disasters. Earthquakes, storms, flood, lightning fore etc. can strike any time. So also, incidents such as theft, terror strikes or riots cannot be ruled out completely. In such case home insurance is vital to protect your haven and its valuables against any adversities – either natural or man made.

Motor Insurance

No matter how cautiously you drive, there is always a likelihood of a mishap.

Opting for the comprehensive cover over the mandatory third party cover, will let you enjoy a peaceful drive. Third party cover covers any bodily injuries to the third party damage caused to third part property and compensation in the event of death. The comprehensive cover includes the third party cover over and above incidents such as theft fire, natural calamities (e.g. floods earthquakes etc) and accidents caused on the road or in transit like in a train etc.

Home loan cover

Home loan cover takes acre of your outstanding loan amounts. In case of your untimely death, the outstanding loan amount would be paid to the lender thus protecting your family from the burden of debt.

Health insurance

Hospitalization expenses can eat up a good sized portion of your savings Health insurance can take care of your hospitalization costs and others incidental expenses like ambulance bed charges, doctor fees, medicines medical tests, etc. Some policies even provide cover for certain specified pre existing diseases, ay care treatments domiciliary hospitalization pre and post hospitalization expenses and expenses incurred by the donor during transplant of major organs. Cashless hospitalization lets you avail of the treatment without making any upfront payment. A single comprehensive policy can take care of the medical expenses of your entire family.

Most employees also provide a number of required or voluntary insurance benefits such as workers’ compensation and health insurance.

Workers’ Compensation provides income and medical benefits to work related accident victims or their dependents regardless of fault.

Worker’s compensation laws aim to provide sure, prompt income and medical benefits to work related accident victims or their dependents, regardless of fault. Every state has its own workers’ compensation law and commission and some run their own insurance programs. However, most require employers to carry workers’ compensation insurance with private state approved insurance companies. Neither the state nor the federal government contributes any funds for workers’ compensation.

Summing up

1) General insurance is as important as life insurance
2) It ensures your home and car against financial losses arising due to unforeseen events.
3) Health Insurance, travel insurance and home loan cover are also available.