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Crucial insights and expert advice that simplify insurance concepts and offer strategies for protecting you, your loved ones, and your assets.

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Which is Better: First Party or Third Party Car Insurance?

A few days ago, when Sudhanshu Sharma was heading home from work, his car collided with another vehicle. During the collision, both vehicles suffered damage. In this situation, whether Sudhanshu would be covered for his own or only third-party damages depends entirely on the type of motor insurance he purchased. A first-party insurance would offer coverage for his own car’s damages, whereas third-party insurance would cover only the damages to other vehicles. Sounds like a crucial decision to make, right? This is why it is important to first understand how both types of insurance policies work before you decide which coverage is for your needs.

Term

What is Terminal Illness Cover in Term Insurance?

Buying a term insurance policy with the right features is crucial for significant financial protection. Take the case of Rakesh, a 40-year-old IT employee in Bengaluru. Diagnosis of the advanced stage of cancer has turned his world upside down. Doctors have estimated less than a year of survival for him. Treatment cost, medical expenses, loss of income and caregiving costs are draining his finances. His wife had to pause her work, and his son’s education fund is slowly depleting. While Rakesh has a term insurance policy, it does not include terminal illness cover. That means, term insurance can compensate the family only in the case of death during the term, not when they need it the most. If Rakesh had opted for terminal illness cover in term insurance, he would have received a certain sum on diagnosis of terminal illness (during his lifetime). He and his family could utilise the lump sum for his treatment and maintain financial stability. His painful story highlights the need to choose the essential features like terminal illness cover in term insurance for well-rounded financial protection.

Car

What is Return to Invoice Cover (RTI) in Car Insurance?

When you purchase a comprehensive motor insurance policy, you get to choose the Insured Declared Value (IDV) of your car. It is the maximum amount of compensation you would receive if your car is stolen or damaged beyond repair. The make, model, and variant are the primary factors that determine your car's IDV. As a car is a depreciating asset, its value declines over time, and the IDV decreases accordingly; eventually, it falls well below the car’s actual purchase price. This may make you wonder if your comprehensive car insurance is really enough! Let’s find out.

Health

What is a Health Insurance Card?

Last month, when Shweta’s father had a scooter accident, he was very worried, not just because of the injury, but also about the procedures to be followed at the hospital. Before leaving for the hospital, Shweta, who was away on a business trip, told her mother not to forget to bring the Health Insurance Card. She assured her elderly parents that all procedures would be smoothly carried out, and they should just focus on her father getting better. Upon reaching the hospital, Shweta’s parents presented the card at the reception and were relieved to see how it escalated the entire process. Rather than going through tedious paperwork to get admitted to a network hospital, presenting the health insurance card was sufficient. A health insurance card is like a credit card for your medical expenses. You can use this at a network hospital to get coverage as promised under your health plan. To streamline the entire claim procedure, its importance goes beyond. Read on to know more.

Term

Term Insurance vs Health Insurance: What’s the Real Difference?

Term insurance and health insurance are the two main essential financial tools that protect against uncertainties. Both serve distinct purposes and are important aspects of financial planning. One provides a financial safety net against death, and the other is a financial lifeline during medical emergencies. Many people often think that both these insurance forms are similar and can replace one another. However, awareness among the people has been rising in the last few years. As per the IRDAI report in 2023, the life insurance industry has seen a growth of 13.5% in new premiums. With the increased awareness and launch of newer products, health insurance renewal rates are predicted to reach a record high in 2026. Understanding the key difference and importance of the key insurance forms, like term insurance and health insurance, helps you make a well-rounded financial plan. Let us explore the features, benefits, scope of coverage and distinct purpose of both term and health insurance.

Term

Return of Premium Term Plans: Worth It or Not?

Raj has always been financially responsible. He had purchased basic term insurance, health insurance, and investments in various options like systematic investment plans, equities and fixed deposits. During coffee breaks in the office, one of his colleagues mentioned buying a return of premium term insurance plan and added how the feature of paying back premium on survival of the term has appealed to him. Raj was instantly impressed by the feature and thought of enhancing the term cover by buying a return of premium plan. However, he found mixed opinions on the internet when researching, which made him wonder if it is really worth the cost. Some were calling it a smart investment, and some referred to it as an unnecessary cost. Like Raj, are you also wondering if buying a return of premium term plan makes any sense? Let us explore the features, pros and cons of the return of premium term plan and compare it with the basic plan to know whether it is worth the cost or not.

Jio Insurance Broking Ltd

Jio Insurance Broking Limited
IRDAI License No: 347,
Direct Broker (Life & General),
Valid upto: 11/03/2028
(Renewable)

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customer.care@jioinsure.in

Toll-Free Number

18008898730

(9.30 AM - 6.30 PM, Monday to Friday)

CIN

U67200MH2006PLC165651

Registered office address

1^st Floor, Building - 4NA, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051

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