General Insurance


Uncertainty of events in life makes life exciting. But some sudden events may set us back.  Such as medical emergencies can create financial emergency. Similarly our valuables like home, vehicle etc are exposed to various hazards. General insurance is a great option through which we can secure these things. It protects our valuables from the financial impact of risk.

Insuring anything other than human life is called general insurance. The different forms of general insurance are health, fire, marine, motor, accident and other miscellaneous non-life insurance. For example, general insurance covers insurance policies like burglary, theft, etc. Personal insurances like health and accident insurance are also covered up by general insurance. Furthermore, special insurance like professional indemnity insurance is also covered under this category.


Why General Insurance:

  • General Insurance gives peace of mind against any mishap.
  • Throughout the insurance, the burden of loss is almost next to none as almost all get covered up by the insurance policy later on.
  • Paying premiums of insurance is like depositing in a savings account as that helps in case of any emergency.
  • When one has earned and accumulated property, protecting it is prudent.
  •  The law also requires us to be insured against some liabilities. That is, in case we cause losses to another person, that person is entitled to compensation. To ensure that we can afford to pay that compensation, the law requires us to buy liability insurance, so that the responsibility of paying the compensation is transferred to an insurance company.

Health Insurance

In today’s scenario where a person is exposed to multiple types of risk in his daily life, it is strange to find that one is not insured for a major risk when an option of insurance is available. We all know that HEALTH is WEALTH. But as per official data collected by Insurance Regulatory and Development Authority (IRDA) for the year 2013-14, only 17% of India’s population have health insurance, a shocking but true fact which needs to be addressed at the earliest.


Medical insurance guarantees financial wellness and moreover promotes personal well-being too. Individuals, who have sufficient health cover enjoy the following advantages:

  • Health insurance provides monetary support. It covers healthcare costs which can be huge in case of a fatal disease or a serious accident.
  • Most health insurance firms have tie-ups with top-class hospitals across the country so that one get treated under the supervision of experts. They even offer ‘cashless hospitalisation’ which is extremely beneficial in case of emergencies. As the name implies, this benefit allows one to get admitted and receive immediate treatment even if he hasn’t cash at hand.
  • It allows one to lead a stress-free existence. Even if the policy-holder falls sick, he needn’t to worry about paying medical bills, doctor fees, hospital stays etc.
  • Tax benefit certainly pushes a person one step further towards buying medical insurance. As per Section 80D of the IT Act, health insurance premiums are entitled for tax deductions. The budget which was announced in February 2015 granted deductions of Rs.25,000 for people below 65 years of age and Rs.30,000 for senior citizens.

We work hard to earn money and fulfil our dreams. Being diagnosed with a major illness or meeting with a serious accident can change your life drastically. Having adequate medical cover will ensure that all our healthcare expenses are taken care of till you are recovered fully. Most importantly, it eases financial burden on your family. If you haven’t opted for mediclaim yet, do it right now as premiums increase with age.