Insurance

Although the procedure for buying auto insurance has been simplified, it is still challenging to comprehend the jargon used in the industry. There are many crucial terms that everyone should know before purchasing motor insurance. One such term includes total loss car insurance. Now, you must be wondering what exactly “total loss” means in insurance. Read the article to know everything about it in detail.

What is the Total Loss in Car Insurance?

A car is technically considered a total loss when the cost of restoring it to its pre-damaged condition exceeds the value of the car. A total loss might happen under two circumstances if your car is either stolen or severely damaged. In these cases, the car insurance company reimburses the IDV of the existing vehicle after deducting an excessive repair amount.

According to Section 55 of the Motor Vehicles Act, any vehicle damaged or destroyed beyond repair level should apply to the Regional Transport Office (RTO) for a total loss declaration within 14 days from the date of the accident.

Understanding Constructive Total Loss in Car Insurance

Total constructive loss is a condition in which car damages are beyond repair and the repair cost exceeds the car’s insured declared value. The car insurance company, at its discretion, may pay either for a vehicle, its portion, or accessories in cash. However, the liability cannot exceed the following:

1. In cases of total and constructive loss of the car, the IDV of the car as defined in the schedule should be less than the cost of the damage.
2. Other than the total and constructive loss of the car, actual and reasonable expenses of repair or replacement and damaged parts are subject to depreciation within the parameters indicated for a partial loss.

How is the total loss under car insurance calculated?

A car is considered a total loss only when the repair costs exceed 75% of the insured’s declared value. The IDV refers to the estimated market value of the car. Constructive total loss is the term used when the cost of repairs is greater than 100% of the item’s current market value. Whatever the case may be, the car insurance company will pay an amount equivalent to the IDV. The depreciation rate for calculating IDV is listed in the table below.

Vehicle’s age	Depreciation Rate
Below 6 months	5%
6 months – 1 years	15%
1 years – 2 years	20%
2 years – 3 years	30%
3 years – 4 years	40%
4 years- 5 years	50%
Above 5 years	Mutually agreed between vehicle owner and insurer

How to Get Full Value in Total Loss of the Car?

You can purchase the Return-to-Invoice add-on insurance cover if you want to make sure that in the event of a total loss, you receive the full replacement cost of your vehicle rather than the depreciated value. If your car is stolen or damaged beyond repair, you will be eligible to receive the full invoice value of it, including registration fees and all applicable taxes. In other words, you receive the amount you originally paid for the car’s on-road pricing if you’ve bought a return-to-invoice add-on coverage.

Conclusion

Uninvited accidents frequently result in serious vehicle damage. Total loss is a condition in which the car is destroyed beyond repair. If you have car insurance, the total loss amount provided by the insurer will be equal to the insured’s declared value. Furthermore, you can buy a return-to-invoice add-on cover to get the on-road market value for your vehicle after the accident.

In today’s digital world, everything is now possible through online platforms. Be it buying a car insurance plan, applying for a driving license, or checking the status of an e-challan, everything can now be performed online. In just a few simple steps, individuals can now check the status of their e-challan on the Parivahan website and pay the fines accordingly. So, let us understand all about the ways to check the e-challan status online.

What is E-Challan?

E-challan is basically an online receipt that mentions the traffic violation penalties that an individual needs to pay. The e-challan system was introduced by the Ministry of Road and Transport Highways in order to ensure transparency and accountability. As compared to physical challans where the offender of traffic law was supposed to visit an RTO and pay for the fines, e-challan provides convenience to pay for penalties in an online manner.

It is important to note whenever an e-challan is issued as a result of violating traffic laws, a message, as well as an email, is sent to the individual who has violated the traffic laws. Many states have in fact made use of MTP CCTV Challan systems to capture cases of traffic violations and instantly get an e-challan generated. There are traffic policies that also issue an e-challan to the individual violating traffic laws.

How to Check E-challan Status Online?

You can easily check the e-challan status through online mode by following the below-mentioned steps:

• Click on the official website of e-challan Parivahan
• Then, go to the ‘check online services’ option
• Next, a dropdown menu will appear from which you need to click on the ‘check challan status’ option
• Enter details like challan number, driving license number, or vehicle registration number, to check the challan status
• Then, enter the captcha as prompted on the screen and click on the ‘submit’ button
• Finally, you will be able to view the e-challan status online

Thus, checking the status of the e-challan status helps individuals to understand whether they are liable to pay any fine or not as a result of offending traffic laws. Moreover, if in any case if an individual fails to pay the e-challan, then their driving license might be suspended as well as may be liable to pay even greater fines.

Steps to Pay For E-challan

Here is how you can easily pay for e-challan through an online mode:

• Go to the website of e-challan Parivahan
• Enter details like challan number or vehicle number or driving license number
• Then, after entering the details, you will be able to check the status of e-challan
• Next, you need to click on the ‘pay now’ option. You can pay through net banking, credit cards, UPI, or other payment methods available
• Once you have paid for e-challan, you will also receive a notification on your registered mobile number

Traffic Rules to Follow to Avoid The Issuance of E-challan

If you do not wish to get an e-challan issued in your name, there are certain traffic rules that you need to follow. Listed below are the common traffic rules that are mandatory for all:

• You must always wear a helmet while riding a two-wheeler and wear a seat belt while driving a four-wheeler on Indian roads.
• You must have a valid driving license.
• You must have important vehicle-related documents like a vehicle registration certificate, vehicle insurance policy papers, and more.
• Do not overspeed while driving and involve in rash driving
• Do not drive under the influence of alcohol or drugs
• Do not park your vehicle in a no-parking zone
• Do not honk in a silent zone
• Do not break the traffic signals
• Use indicators while taking turns on the road

Here is a table that illustrates the fine you need to pay in case you violate any of the traffic rules.

Traffic Laws	Penalties
Driving without a valid driving license	Rs. 5000
Driving under the influence of alcohol or drugs	Rs. 10,000 for the first time offence and Rs. 15,000 if the offence is committed for a second time
Driving without a seat belt or helmet	Rs. 1000
Driving without vehicle insurance papers	Rs. 2000 – Rs. 4000 and imprisonment
Over speeding and rash driving	Rs. 1000
Driving overloaded vehicles	Discontinuation of license or a fine of Rs. 2,000

Take Away

Thus, we hope that now it will become easier for you to check the e-challan status online. However, we recommend you follow the traffic rules and drive safely to reduce the chances of paying e-challan.

Did you know, cancer is one of the second-most fatal health conditions in the world? In fact, according to reports published, the number of incident cancer cases in India in 2022 was 14,61,427. Moreover, it is predicted that by 2025, the number of cancer cases will increase by 12.8%. This data is a reminder of how important it is to spread awareness of cancer. In light of the same, every year 4th of February is observed as World Cancer Day to promote general awareness about cancer. This year the theme for World Cancer Day is “close the care gap” and the vision is to bring new initiatives in order to collectively fight against cancer as well as educate people about the different types of cancer. Read on to learn more about the different ways in which the risk of cancer can be reduced.

Different Ways To Prevent The Risk Of Cancer

As per studies, it is found that cancer occurs due to the abnormal growth of cells. Moreover, the primary reason behind so many people getting affected by cancer is the unhealthy lifestyle one tends to live. This unhealthy lifestyle includes the consumption of alcohol, tobacco, obesity, and so many more. Moreover, it is also important to understand that the treatment cost of cancer in India is extremely high, and not many people have health insurance. Thus, owing to all of these, it becomes important to adopt preventive measures to reduce the chances of cancer.

Listed below are the different ways in which you can reduce the risk of cancer:

• Eat A Healthy Diet: First and foremost, it is very important that you eat a healthy diet. A healthy diet generally comprises of fruits, green vegetables, and other sources of nutrition that will keep your body healthy and fit. Moreover, in addition to eating a healthy diet, it is also important to cut down on calories, unsaturated fats, and others that unnecessarily result in increasing your weight.
• Say No To Tobacco: In order to limit the risk of cancer, it is very important that you say no to the consumption of tobacco. This is because research has proven that the intake of tobacco adversely increases the risk of cancer. An unhealthy habit of chewing tobacco on a regular basis is in fact the main reason behind the different types of cancer such as mouth cancer, throat cancer, lung cancer, and a few others.
• Maintain A Healthy Weight: In addition to everything else, it is equally important to maintain a healthy weight, as obesity is another factor that increases the risk of cancer. An unhealthy weight increases the risk of different types of cancer such as breast cancer, prostate cancer, and others. Thus, it is advisable to indulge yourself in physical activities like yoga, exercise, etc, on a regular basis for at least 30 minutes a day.
• Limit Sun Exposure: There is no denying that basking in sun is good for health, however, excess of anything is harmful. Thus, to reduce the risk of cancer, it is important that you limit sun exposure as an excess of the same can lead to skin cancer. So, you should strike a balance and use preventive measures like applying sunscreen and staying away from harmful ultraviolet rays.
• Do Not Compromise On Your Sleep Cycle: Getting quality sleep of at least 6 hours is very important to lead a healthy lifestyle. It is advisable that you maintain your sleep cycle, as compromising on that can result in increased body weight. This will indirectly also increase the risk of cancer.
• Fight Against Pollution: Environmental pollution increases the risk of respiratory diseases but also leads to lung cancer. This is because long-term exposure to harmful air pollutants and inhalation of contaminated air disrupts the cellular process and thus increases the risk of cancer. .
• Go For Regular Health Checkups: Another important step that you can do to reduce the risk of cancer is to go for regular health checkups. Regular health screening will help you detect cancer at an early stage. This will also help in starting the treatment of cancer at the right time.

Now, in addition to taking all the preventive measures mentioned above, it is also very important that you buy cancer health insurance plans. This will help you get financial protection if diagnosed with cancer. Moreover, with a cancer health insurance plan, you can also stay stress-free about the cancer treatment expenses and focus more on getting quality treatment for the same.

Final Wordings

Thus, it is very important that you follow the above-mentioned tips to reduce the chances of cancer as “prevention is better than cure”. Moreover, you should invest in a cancer health insurance plan and must compare the different health insurance plans for getting the best one for yourself.

Car insurance is one of the most important insurance products that provide financial compensation in case your car is damaged, lost, or stolen due to any unforeseen circumstances. There are different types of car insurance plans such as comprehensive car insurance, third-party car insurance, and standalone car insurance. As per the Motor Vehicles Act of 1988, third-party car insurance is in fact a must-have for all car owners to ensure third-party liability is covered. However, there are certain things that you must keep in mind while buying car insurance in India.

What is Car Insurance & its Types?

A car insurance is basically an agreement between the insurance company and the policyholder, where the former agrees to provide financial compensation in case there is any damage to the car or a third-party or even if the car is lost or stolen. With a car insurance plan, you can get your car repaired at any of the network garages or even seek reimbursement in case it is not repaired at a network garage. Now, based on the nature of the coverage offered under a car insurance plan, explained below are the different types of car insurance plans:

• Comprehensive Car Insurance: A comprehensive car insurance plan is one that provides coverage for both standalone damages to your vehicle as well as if a third-party is injured as a result of your vehicle. However, the premiums of comprehensive car insurance are comparatively higher.
• Third-party Car Insurance: As the name suggests, third-party car insurance provides coverage in case a third-party individual or property is damaged as a result of your vehicle. It is important to note that irrespective of which type of car insurance plan you are buying, a third-party car is a must-have as per the motor laws.
• Standalone Car Insurance: Standalone car insurance is another type of car insurance plan that provides coverage in case the insured car is damaged or lost. There is no coverage for a third-party damage under this plan.

Tips to Buy Car Insurance in India

If you are buying a car insurance plan for the first time, there are certain things that you need to be aware of such as the following:

• You must be aware of the different types of car insurance plans that will help you choose the best plan for yourself. You must understand the differences between the different types and accordingly buy the right type of right car insurance for yourself. In addition to checking the different types of car insurance, you must also check the different car insurance plans offered by different car insurance companies.
• You must always understand your requirement and budget and accordingly buy a car insurance plan. Always make sure to buy a car insurance plan that will fit your budget and for which you will be able to pay the premiums on time.
• You should also check the different add-ons available that will help you enhance the benefits of a car insurance plan. Some of the different add-ons available with car insurance plans include zero depreciation cover, engine protection cover, no claim bonus cover, and more.
• You should buy a car insurance plan with a company that has a larger number of network garages. This is because it is at these network garages, where you can get cashless repair facilities. So, the greater the number of network garages, the more beneficial will it be for you as a policyholder.
• The premium of a car insurance premium depends on the installation of devices like anti-theft. So, you need to be mindful that the car insurance premium will vary depending on such additional features in your car.

Take Away

So, when you decide to buy a car insurance plan, you should always keep the above-mentioned tips in your mind.

Motor insurance is a type of general insurance policy. It provides coverage for losses and damages to vehicles. There are many motor insurance companies in India. Each company provides a unique set of advantages and benefits to satisfy the unique needs of policyholders. When purchasing motor insurance, we all must hear the term add-on coverage. Isn’t it? Add-on covers are additional benefits given by an insurer to the insured. The policyholders can purchase add-on riders with their standard motor insurance by paying an extra premium.

There are many types of add-ons provided by insurance companies. One such is zero depreciation coverage. As the name suggests, with this add-on, the policyholder doesn’t have to pay depreciation for the damaged or replaced vehicle parts. Zero depreciation coverage proves to be more advantageous for luxury vehicles. Wait, the picture is not yet complete! Oftentimes, we misunderstand certain things regarding a zero depreciation policy. In this article, we’ll debunk some common myths regarding zero depreciation coverage. Read on to find out!

Common Misconceptions Regarding Zero Depreciation Cover

Here are some common misconceptions related to a zero depreciation policy.

Myth 1: There are no exclusions under zero depreciation cover

Similar to other motor insurance add-ons, certain things are not covered under the zero depreciation cover. Some of the things not covered include regular wear and tear, damages that happened due to oil leakage, water ingression, mechanical failure, and more.

Myth 2: You cannot buy zero depreciation cover for two-wheelers

The insurance companies in India provide zero depreciation coverage for both cars and bikes. You can buy this add-on at the time of purchasing or renewing your motor insurance plan. In case your claim is admissible, you can take advantage of the zero depreciation benefit.

Myth 3: Zero depreciation covers can be purchased for old vehicles.

Most insurance companies provide zero depreciation coverage only for vehicles under the age of 5 years. Therefore, if you have a car or bike older than 5 years, you may find it difficult to search for insurance companies, resulting in limited options to choose from.

Myth 4: You can claim your zero depreciation add-on multiple times

Another myth regarding zero depreciation add-ons is that there is no limit to claiming a zero depreciation cover. However, in reality, there may be a limit to the number of claims you can make under this plan during the policy term. The usual limit is twice, but this can differ depending on the insurance company. It is best to read the policy document carefully at the time of policy purchase.

Myth 5: Cost of deductibles are covered under zero-depreciation cover

The policyholder must pay the mandatory deductible, which is determined by the CC of your vehicle. Similar to the consumable cost, deductible expenses are not covered under zero-depreciation coverage.

Wrap up

In conclusion, zero depreciation cover is an important add-on for deducting your costs at the time of claim settlement. Before purchasing this add-on, make sure that you know about the above-mentioned misconceptions. Furthermore, when purchasing motor insurance with zero depreciation, ensure that you read all the terms and conditions mentioned in the policy thoroughly. For more detailed information regarding zero depreciation cover, you can contact the customer support team at InsuranceDekho.

Similar to personal vehicles, it is important to protect your commercial vehicle from uncertainties. Motor insurance companies in India provide commercial vehicle insurance for different types of vehicles such as cabs, taxis, buses, trucks, and more. When you purchase an insurance policy, you create a strong wall against mishaps. Now, you must be wondering, “What exactly is commercial vehicle insurance?” and “How can I purchase it?” In this article, we’ll walk you through the meaning, benefits, types, and more details of commercial vehicle insurance.

To understand the meaning of commercial vehicle insurance, it is first important to know the meaning of commercial vehicles. Commercial vehicles are a type of vehicle that is used for earning purposes. This may include cabs, taxis, buses, trucks, and more. Now, read on to find out detailed information about commercial vehicle insurance.

What is Commercial Vehicle Insurance?

A commercial vehicle insurance plan is an insurance plan that provides coverage for damages caused to or by a commercial vehicle. Additionally, it offers protection for the loss incurred by the owner of that particular vehicle. The damages and losses that are covered under commercial vehicle insurance include accidents, collisions, and man-made and natural calamities. All businesses must purchase commercial vehicle insurance for their respective trucks, buses, auto-rickshaws, tractors, and more, up to third-party coverage.

Benefits of Commercial Vehicle Insurance

Listed below are some of the benefits of commercial vehicle insurance.

1. It protects you against any type of financial burden arising due to accidental damages.
2. An insurance company may also provide coverage for legal fees and lawsuits in third-party motor insurance.
3. You are eligible for a no-claim bonus for not making any claims during the policy period.
4. You can also claim cashless repair coverage in case of accidental damages.

Types of Commercial Vehicle Insurance

Here are two types of commercial vehicle insurance provided by motor insurance companies.

1.    Comprehensive Commercial Vehicle Insurance

A comprehensive policy financially protects your commercial vehicle as well as the owner-driver who uses it. Moreover, it protects your commercial vehicle from any damages or losses caused by natural disasters, fire, theft, or accidents.

2.    Third-party Commercial Vehicle Insurance

Third-party motor insurance is mandatory for all types of vehicles in India. This insurance has a reduced premium cost and tends to cover any third-party person or property damage caused by your own commercial vehicle. The owner/driver is also covered by third-party liability coverage in the event of injury or death. However, any damage that happens to your commercial vehicle is not covered under this policy.

Inclusions and Exclusions in Commercial Vehicle Insurance

Here is a list of inclusions and exclusions in commercial vehicle insurance.

What is Covered?

1. Accidents and thefts
2. Third-party damages or losses
3. Natural disaster
4. Fire

What is Not Covered?

1. Damage to your commercial vehicle will not be covered in the case of a third-party insurance plan.
2. Driving under the influence of any alcoholic substance.
3. Damages happened due to the negligence of the driver and the overspeeding of the vehicle.
4. No coverage is provided for claims that are not covered under your insurance plan.
5. War or nuclear perils are not covered.

Factors Affecting a Premium of Commercial Vehicle Insurance

Listed below are some factors that may affect the premium for your commercial vehicle insurance.

1. Type of Plan: If you choose third-party liability insurance, a premium will be less than that of a comprehensive plan that provides wider coverage. 

2. Vehicle Model and Engine Type: Engine model, year of manufacture, vehicle size, and car condition plays an important role in determining the premium of commercial vehicle insurance premium.

3. No Claim Bonus: If you build up a no-claim bonus in earlier years of the insurance policy, you will receive a discounted premium. A no-claim bonus is a type of reward provided to the insured at the time of policy renewal if there has been no claim in the previous years of the policy.

4. Commercial Vehicle Type: Large vehicles, such as trucks or large buses, pose more risks on the road than other commercial vehicles, such as cabs or private minibuses. Therefore, a vehicle with more danger requires paying a higher premium.

How To Purchase Commercial Vehicle Insurance Online?

Here’s a step-by-step guide to purchasing commercial vehicle insurance online.

1. Visit the official website of an insurance company.
2. Enter the required details and click “submit.”
3. Choose the type of commercial vehicle insurance and add-ons that you want to purchase.
4. Upload and submit all the necessary documents.
5. Make a premium payment online to complete the procedure.
6. Once the premium payment has been completed, the policy details will be shared to your registered email-id.

Wrap Up

In conclusion, many insurance companies provide commercial vehicle insurance in India. All personal and commercial vehicles must purchase an insurance policy that provides coverage up to third-party liabilities. When purchasing a motor insurance plan, make sure that you compare different insurance companies on the basis of their claim settlement ratio. The higher claim settlement ratio of the company represents higher credibility.

Women are more prone to experiencing health issues beyond the age of 40. They are now more susceptible to developing significant illnesses, including breast cancer, arthritis, issues with pregnancy, high or low blood pressure, diabetes, osteoporosis, and other conditions. Both men and women must have health insurance in order to satisfy their health demands. Examine the various women’s health insurance options.

Women’s Health Insurance in India

In recent years, having health insurance has become a must. Whether a person is a toddler, an adult, or a worker, we have plans for them all. However, if we concentrate on women, our health insurance programs for women fall short of those in other nations.

Women typically do the most significant and varied duties, such as caring for their homes and children, performing well at work, etc., with complete commitment and without grumbling.

Indian women neglect their own needs since they are preoccupied with taking care of their family. This can be a result of their financial hardships or their reliance on their husbands. Whatever the cause, it’s time to take a seat and consider how to keep our families, who make up the most vital element of society, healthy and financially stable.

Women’s health insurance may be an issue in India, but fortunately, more and more insurance providers are developing excellent plans specifically for women. The majority of their attention is given to pregnancy, delivery, and associated coverage because these plans are created with women’s health concerns and demands in mind. These coverings are designed to protect against illnesses that elderly women are more susceptible to contract.

How Critical Health Insurance is for Women in India?

Indian women purchase less health insurance than Indian males. Despite the fact that women are about as likely as men to visit a hospital. Due to contemporary lives, growing stress levels, working two jobs, and physical stress, women are more likely than males to get certain diseases.

Here are some of the most crucial justifications for selecting the ideal health insurance plan as the leading lady.

• If you work from home, Your family would suffer if you didn’t do your full-time job duties to the best of your ability. Your family will have additional responsibilities, such as taking care of the house, if something unfavourable occurs or you become ill. 

This implies that in order to take care of the house, your health, and other things, your spouse or children may have to work harder. However, if you have health insurance, they will not only treat you well but also lessen some of the burden associated with having to spend more.

• Because females require more care for their reproductive health and are more prone to develop chronic illnesses and impairments than men, women require more preventative assistance than men, as was already mentioned. 

Additionally, women are more likely than males to have sporadic insurance coverage and must make significant adjustments each year to pay the price of a family member’s or their own medical expenses. Thus, insurance designed specifically for women can aid in reducing their stress levels.

• Women who work may have a bright financial future, but you as a kid or the women themselves should have health insurance to ensure they don’t have to worry about their health during the most crucial years of their lives.

How Do I Pick the Best Women’s Health Insurance Policy?

How can you pick the greatest health care provider when there are so many excellent options available? The following considerations should be made while you search for the best health insurance option for women.

• Ensure You Choose the Correct Amount: The price of healthcare rises daily. Therefore, you should pick a policy that provides you with the appropriate sum of money. You can use one of the various internet calculators to determine the appropriate cost if you’re having trouble determining how much sum assured you need for your health insurance.

•  Verify Ratings: Even if you’re seeking for the top insurance coverage on the market, this is the greatest approach to receive the correct facts. To determine whether a women’s health plan and its benefits are suitable for them, read evaluations of the plans.

•  Compare Plans: When choosing between two of the top health insurance plans, compare them to determine which one best suits your requirements and financial situation. InsuranceDekho is the place to go if you want a dependable resource to compare women’s health insurance in a fair and honest manner.

• Read the Fine Print: Whether you are a young professional planning your own career or a single mother seeking financial security for your health care, it is imperative that you read and comprehend the policy paperwork as completely as you can. And to avoid regretting your decision, you should ask the agent if you run into any issues or have any questions.

• Double Check the Coverage: Despite the fact that nearly all health plans provide maternity benefits including hospitalisation before and after giving birth, ambulance coverage, and a wide variety of women’s health conditions and serious diseases, you should double-check the website to discover what the insurance doesn’t cover.

Conclusion

Women are more likely than males to be affected by several diseases, including anemia, arthritis, and more. To avoid having to pay for an emergency out of pocket, people should obtain complete health insurance as soon as feasible.

Everybody requires health care, thus the Indian government has established a variety of health insurance programmes to address this need. Many of these health programmes are government-sponsored group health insurance programmes. People can now obtain coverage without having to pay a premium as a result. 

On the other side, other plans just charge a tiny fee that is simple for consumers to afford. All of the government’s proposed and implemented health insurance programmes are aimed at assisting the underprivileged in obtaining coverage at a cost they can afford.

What is a Government Health Insurance Plan?

A government-run health insurance programme for its residents is known as a government health insurance scheme. It aims to improve the quality of healthcare in the area by providing affordable insurance plans with a sizable amount insured. These insurance are often only made available once each year.

Senior Citizen Government Health Insurance Programmes

Your health is generally the first thing that comes to mind when you consider becoming older. Everyone is aware that as individuals age, their health deteriorates and they get ailments that are related to aging. It’s critical to take care of your overall health and acquire comprehensive health insurance to manage this period of life. 

Seniors citizens should have a health plan that is tailored to their age group since they are more likely to experience rising health care expenditures and more frequent hospitalisations. It will not only assist policyholders in covering high medical expenses, but it will also reassure elderly people that they would have enough money should they need it.

Types of Government Health Care Programmes

Learn more about the various health insurance programmes offered by the Indian government:

1.  Ayushman Bharat Yojana:  It is managed by the Government of India’s Ministry of Health and Family Welfare. More than 40% of the population in the country will now have access to free healthcare services because of PMJAY. The package includes a Rs. 5 lakh health insurance policy.

2. Pradhan Mantri Suraksha Bima Yojana: This programme was created to provide accident insurance to Indian citizens. This programme is open to everyone with a bank account between the ages of 18 and 70.

3.  The Aam Aadmi Bima Yojana (AABY) : is one of the newest National Health Insurance plans. It is among the most recent ideas because it was started in October 2007. People between the ages of 18 and 59 are primarily affected. All residents of the upcountry and in rural regions are eligible for the AABY insurance programme.

4. Central Government Health Scheme (CGHS): This programme, which was launched in 1954, provides central government employees and retirees who live in cities with a variety of health care facilities. This approach is implemented in cities like Kolkata, Mumbai, Lucknow, Delphi, Nagpur, and Pune.

5. Employment State Insurance Scheme: This multifaceted National Health Insurance programme safeguards all Indian employees on a social and financial level. Additionally, it grants the same rights to others who rely on the workers who are covered by this programme.

6. Janshree Bima Yojana: This programme helps impoverished, needy individuals between the ages of 18 and 59. The Shiksha Sahyog Yojana and women’s SHG Groups are two unique components of the strategy. There are now 45 groups of employment in this plan.

7. Chief Minister’s Comprehensive Insurance Scheme: Chief Minister’s Comprehensive Insurance Initiative is a Tamil Nadu state government scheme. It was made public together with the United India Insurance Company Ltd. It is a family-wide strategy designed to aid with access to high-quality medical care. More than a thousand different types of medical care are covered by this plan.

Benefits of Government Sponsored Health Insurance Plans

The government-sponsored health insurance programmes have a lot of advantages:

• Policies are reasonably priced and available.
• Makes it easier for persons living below the poverty level to receive insurance.
• ensures that the underprivileged have some form of insurance.
• Policyholders can feel safer thanks to government policies.
• Both public and private hospitals should be a part of improving healthcare.

Conclusion

In India, you have the option to choose from a variety of government-sponsored health insurance plans. These plans not only provide you with adequate coverage but are also available at highly affordable premiums. We hope this article, helped you find the right government-sponsored health insurance plan for you!

Super Top Up policies are similar to top-up policies, but you can tell them differently thanks to a few key distinctions. Additional coverage that goes beyond the limits of your existing policy is provided by top-up health insurance policies. 

As a result, in order for the policy to pay out any money, each of your claims must be worth more than the threshold limit of the policy. On the other hand, the Super Top Up coverage covers all of your hospital expenses that are greater than a specific amount. Therefore, the amount of the claim is determined by adding together all of your claims that exceed the deductible level throughout a policy year.

What is the Super Top-up Health Insurance Plan?

A super top-up health plan covers all hospital expenses up to the plan’s maximum, which is greater than your deductible. Therefore, the super top-up coverage will pay any subsequent claims once your deductible has been satisfied. In contrast to a typical top-up plan, which only pays individual claims beyond the deductibles, it covers expenditures over time.

This deductible amount is already set. For instance, if your Super Top-Up Plan costs Rs. 10 lakh and has a Rs. 3 lakh deductible limit, the Super Top-Up Policy would pay for any medical expenses exceeding Rs. 3 lakh. Your current health insurance can cover the first portion of this deductible, and the super top-up insurer can cover the remaining amount.

Who Should Purchase the Super Top-up Health Plan?

There are several reasons to acquire a Super-top up plan. Here are a few examples:

• Parents and Senior Citizens (over 60): As the age of the covered individual increases, so does the premium. The premium may be significantly reduced when you get super top-up insurance. The only drawback is that the deductibles must be paid out of pocket, either through your current health plan or through a company plan.

• Employer Health Plan Upgrade: Purchase a Super top-up health plan to enhance your company’s health insurance if your sum covered is insufficient. You may enhance your coverage with a super top-up plan without spending as much as you would for a conventional health plan.

• If You Feel Your Current Mediclaim Coverage Is Insufficient: If you feel your current mediclaim policy’s amount insured is too low and the benefits are insufficient, you may add extra coverage with a super top up plan without having to purchase or transfer to a new comprehensive health plan.

Types of Top-Up Health Insurance Plans in India

There are two different types of Top-Up health insurance policies in India:

• Top-Up Insurance: A top-up insurance plan increases the amount insured up to a certain level. The top-up plan kicks in when medical expenses exceed the deductible.
• Super Top-Up Insurance: After the threshold limit has been reached, further insurance coverage is provided through this add-on plan. While the top-up plan simply considers the threshold limit or deductible for each claim, the super top-up plan considers all claims made during a policy term.

If the sickness returns within 45 days after being discharged from the hospital, it is often only considered as one illness for both plans. However, if the ailment returns 45 days after being treated and released, it is typically diagnosed as a new condition.

Conclusion

You may get the best health insurance policy in India. Choose the super-top-up health insurance plan that best suits your needs by comparing the top options available in India. Super Top up serves as a backup to current health insurance (personal health insurance or health insurance provided by employer or other group). A typical health insurance policy includes a sum insured cap, over which no additional medical costs are covered. When the sum insured from an existing health policy has been used up or is inadequate to cover a claim, a “Super Top-Up” coverage might be advantageous.

Because of India’s increasingly sedentary lifestyle and the accompanying rise in the prevalence of health hazards, purchasing health insurance has become obligatory for every single person in the country.

In the event that we experience a medical emergency, the insurance will serve as a shield, allowing us to seek the necessary medical care with significantly reduced levels of anxiety and while ensuring that we can maintain our financial security. However, buying insurance for every member of your family can end up costing quite an amount of money, which is why we all try to cut costs whenever we can. 

Tips to Reduce the Premium for Health Insurance

Here are some good ways to save money on your health insurance:

• Spending Money On Insurance Ahead Of Time: The cost of health insurance goes down the earlier you buy it. Young people who are fit and active have a much lower risk, so their insurance premiums are also much lower. Buying health insurance when you are young is a proven way to save money on your premiums.

Before letting you get a policy, most insurance companies look at things like your age and health history. On the other hand, this is why it gets harder to get insurance as you get older. Because of this, the best time to buy health insurance is when you are in good health and can get a policy with lower premium payments. So, your premium will be a lot less than what you’ll have to pay when you’re older

When common diseases that come with age, like diabetes, heart problems, and high blood pressure, are added to your medical history, insurance companies raise your premium payments.

• Co-payment: Co-payment refers to the proportion of medical costs that are split between the insurance provider and the policyholder. Your premiums will go down in proportion to your copayment percentage. It’s an optional clause that could save you money on your insurance premium.

• Purchasing Insurance Online: When you buy health insurance online, you can easily compare the many available plans from a number of different insurance providers. After doing your own research, it will be convenient to find the lowest price on the market.

• Long-Term Plans: You can get health insurance for a year or for up to two or three years at a time. These have a lot of good things about them and will save you money over the long term. Also, you won’t have to go through the trouble of renewing your health insurance every year.

• Balance Your Health Insurance Plans :Sometimes, your employer gives you a group health insurance policy, and you also get an individual health insurance policy to protect your finances even more. Policyholders can also choose a family floater plan that helps insure their family as well as themselves. 

With so many insurance policies, it can be hard to keep track of how much you need to pay for each one. In this situation, it’s best to make sure you get your own insurance, but keep in mind that you can already get a lot of benefits from your other insurance. This will make it easier for you to pay the premiums for your insurance policies.

• Choose Top-up Plans: Top-up plans are very helpful if you want to get a lot of coverage without paying a lot of money for it. Most of the time, top-up plans help you divide your coverage into two parts. This lets you make a bigger claim that can go over the limit that has already been set. 

Let’s take a look at an example to understand this better. Say you have a Rs. 10 Lakh plan with a Rs. 5 Lakh benchmark. You make a claim against this plan for Rs. 7 Lakh. The insurance company will then pay the extra Rs. 2 Lakh that your treatment cost. This way, you pay a lower premium for your health insurance plan and can use the top-up plan if your treatment costs require it.

Conclusion

Because of the continuously increasing expense of medical care, it is very necessary for each and every one of us in India to have health insurance. However, given that the expense of health insurance might be a hardship, there are ways to minimise the premiums by adhering to the guidelines that were discussed earlier in this article.