General insurance policies are focused on covering insurance policyholders’ health and assets like property and vehicles. It gives security coverage against accidents and illnesses. The concept of insurance policy in India was introduced out of the need for protection. Be it the security of yourself and that of his or her family or the protection of insured person’s possessions, as people, humans are always struggling to shield themselves from crises.
Just as there are insurance companies for life insurance policy in India, there are different insurers for general insurance as well. As per Insurance Regulatory and Development Authority, insurance products other than life insurance plans are described under the general insurance segment.
The need of these plans arises due to the fact that everything which matters to insurance policyholder and makes life hassle-free also require to be covered against loss or damage, just like the way people do to their lives. This makes sense for those who want to live a risk-free life to go in for general insurance plans online.
All expensive possessions such as personal vehicle, property, home, and business need a huge amount of investment. These possessions are open to risk and therefore, must be covered against financial loss. The list of risk may include accident, theft, natural calamities, and even damage.
Unexpected health emergencies can reduce the finances of every individual only in a couple of days. As a result, healthcare plans must include high on the checklist of everyone who wants for the wellbeing of self and his or her loved ones. In short, general insurance offered by different insurance companies in India should be an important part of the financial planning of each prudent person.
Types of General Insurance
Basically, plans which come under general insurance provided by various insurers include health, motor and last but not the least, property insurance. Few companies also give critical illness and accident coverage.
All people have their own ways of handling the sudden changes of life like critical illnesses that can take a big toll on financial and health status of a person. It is a smart decision to select health coverage that protects insured person and his or her family from expensive medical expenses.
It includes security for two-wheeler and four-wheeler vehicles against theft or damage because of natural calamities, accidents, and fire. Nowadays, there are many families owning more than one vehicle, so motor insurance policy rider is must in such situations.
Property especially home is one of the most valuable assets in everybody’s life. Hence, take essential steps to secure it against damage from burglary, fire and other perils. That’s the exact scenario where property insurance policy in India comes into play and proves beneficial for the insurance policyholder because it saves insured person against financial losses.
It clearly means that general insurance policy rider is a must for those want to enjoy their earnings and who owns any kind of asset should definitely go for it. In fact, insurance experts also suggest people to buy online insurance policies to save themselves, their families and assets too.