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A financial Plan For Taking Care Of Your aged Parents
published on September 24, 2021 | Bike insurance

Age is a precursor to illnesses. As the age of the person grows, it brings illnesses, which are very expensive to treat. The reason being that as age grows, complications grow inside the body, and due to wear and tear, of the various body parts, diseases start emerging. Currently, there are many insurance firms that provide health insurance plans for their senior citizens. These health insurance plans cover lots of health expenses, which are incurred by the policyholders. In India, the majority of companies provide senior citizen health insurance policies, which give policies to people who are aged more than sixty years.

Nearly, all health insurance plans provide lots of benefits to their customers, such as Cashless Hospitalizations, Daycare Expenses, Pre-existing conditions cover, No requirement of medical tests and Higher sum insured. Considering all these benefits, it is imperative that individuals opt for a health insurance policy for themselves and for their parents, who are senior citizens. Currently, the major plans providing health insurance for parents have lots of features such as Cashless Hospitalizations, Critical Illness Cover, Cover for Diseases like Cancer, Stroke, etc. Now, let us list the major features of senior citizen health insurance policy.

  1. Features of Senior Citizen Health Policy

All the major health insurance companies in India provide senior citizen health insurance policies. The main features of all these plans are stated below.

  • Only individuals above sixty years of age are entitled to health insurance coverage under the plans for senior citizen health policies.
  • Currently, the majority of senior citizen health policies don’t require any pre-screening.
  • Another major feature of senior citizen health policies is that there is a free locking period of around two weeks, for reviewing the terms of the policy.
  • Customers will be able to utilize a free medical checkup every year.
  • The majority of senior citizen health insurance policies cover pre-existing diseases.

If there are older individuals in the family, then one must be interested to know the major advantages of purchasing health insurance plans for family. Now, let us list out the major advantages of purchasing a senior citizen health policy.

  1. Benefits of Senior Citizen Health Insurance Policy

The major benefits of senior citizen health insurance policies are given below.

  • The settlement process for all the policies is extremely smooth and convenient.
  • If the individual is admitted for more than twenty-four hours, then he/she can avail of the policy of cashless hospitalization.
  • The health insurance policy consists of Room Charges, Doctor’s Fees, In-Patient Hospitalisation costs, and expenses for the physician.
  • The policy will cover emergency ambulance expenses. 
  • Another big benefit of acquiring a senior citizen health insurance policy is that pre and post hospitalization expenses are included.
  • The diseases which exist in the body before treatment, are mentioned in the policy document.
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Do I need a cyber insurance policy?
published on August 31, 2021 | Cyber insurance
Cybercrime is very rampant these days. Daily, news reports are coming off more and more crime, fraud, and theft relating to information on the internet. In case, if you are new to cyber insurance, this implies protecting the individual or the company financially against cyber-attacks such as Phishing, Identity Theft, ID Theft, Email Spoofing, etc. It has gained immense importance in recent years, due to the proliferation of hackers, cyber thieves, etc. One of the most common types of cyber fraud is in the field of internet banking. Banking customers often get phishing emails, from fake websites, which resemble original banking sites. Then customers are prompted to enter their username and password, which gives hackers access to the bank account, and consequently, crores of money is swindled by them.
In order to counter this, banks have started an information campaign. This, however, is applicable at the individual level. At the organizational level, many firms are opting for Cyber Fraud Insurance. Using this technique, the firm is insured against cyber fraud, by using the services of world-class experts. Now, let us list the advantages of cyber insurance, which have made it so popular.
1. The gap between the current requirements and traditional coverage is greatly reduced

It has been observed that traditional insurance, which is done for commercial liability, is applicable for risk, which comes out of a tangible property, which implies the server, on which data is stored. Conventional policies do not cover the first-party breach costs for notification. This results in a huge gap in the organization’s digital assets coverage, which exposes them to the full costs of an event leading to loss of data. Consequently, cyber insurance is designed to fulfill this gap and act as insurance against cybercrime. To put it into simpler language, cyber insurance provides coverage for

  • Loss of data.
  • Costs of remedy to respond to a breach of data.
  • Legal penalties and fines and regulations.

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Get insured from the comfort of your home.
Cyber insurance plans with ₹ 1 Lakh cover at ₹ 55/month*
  • Unauthorized Online Transactions
  • Email Spoofing
  • Phishing
  • Legal Expenses
  • Unauthorized Online Transactions
  • Email Spoofing
  • Phishing
  • Legal Expenses

2. Covering the expenses of a data breach
Data breaches are very difficult to estimate and make a budget. The scope, size, and complexity of data breaches vary tremendously. Breach of information is very expensive, due to very strict requirements for notification, the chances of fines from different regulatory authorities, specialized monitoring for medical identity and recovery services. It has been observed that cyber insurance assists individuals cope with unwarranted expenses, and handle some of the costs associated with loss of data. The most common form of loss of data consists of Forensic Investigation, Fees for litigation, All types of communication ( Call Centers, Notification Letters, Regulatory Services ), Data Analysis, Monitoring of Identity ( Credit Monitoring ), Public Relations, Services related to identity restoration, Legal Settlements and Regulatory Fines.
3. Delivering resources for responding to a data breach
In case, there is a loss of data or a very staggering data breach, there are plenty of carriers that offer a panel of approved vendors. This consists of a lawyer, who gives guidance to the insured with the help of the breach response process.
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CIN: U67200MH2003PTC141621
IRDAI Registration No.: 217
Valid from : 13/10/2018 to 12/10/2021
Category : Composite Broker
Principal Officer Name: Mr. S. V. Thakkar
*All discounts provided by insurers as per IRDAI approved insurance plans. Standard T&C apply.
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