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How Family Businesses Can Use Joint Term Insurance for Security

Running a family business in India is more than just generating profits, it’s about creating a legacy, managing risks, supporting multiple generations, and protecting both your personal and business lives. In that frame, a properly structured term insurance policy, especially a joint term insurance cover, can be a powerful tool in your toolkit. Here’s how.

Car

Why Remote Work Is Lowering Car Accident Claims?

According to a report featuring data provided by 24 Indian states, road accidents, fatalities, and deaths have reduced by around 62% in 2020 as compared to 2019. The decline was largely because of the nationwide lockdown. While this was an extreme scenario, it also highlights how remote working approaches might help in lowering car accident claims under motor insurance. Remote work keeps a significant number of vehicles off the street, thus reducing traffic and road accidents. Take the example of Sharvari Mahajan, an IT Professional from Bangalore who spent more than an hour navigating through the busy streets of Bangalore to reach her office. In the last year, she had two road accidents because of the heavy traffic and bumper-to-bumper driving. While the accidents were minor, her car had to spend time in the garage. When her company adopted remote work, Sharvari was the happiest. She no longer had to endure the rush hours and the hassle of car accident/damage claims. Sharvari’s story isn’t unique. Remote and hybrid work has a direct link with the number of claims under car insurance in India. Let’s decode the reasons behind this in detail.

Term

Why More Indians Are Choosing Online-Only Term Policies?

According to a recent survey, almost 65% of the Indian respondents showed interest in purchasing insurance online rather than the traditional method. These figures are driven by reasons such as convenience and digital engagement. The Indian insurance landscape has shifted heavily towards digital methods, and interestingly, there has been a positive response. Let's take the example of Sakshi Srivastava, a 32-year-old lawyer based in Bangalore. When Sakshi decided to secure the financial needs of her family members, her first inclination was towards purchasing a term insurance policy. However, instead of calling an agent right away, Sakshi went online to explore all the available options. Soon, she found a term plan with a high sum assured and a rather affordable premium. Sakshi's story is the new normal for many Indians. The trend towards choosing online term policies is picking up pace. But what makes so many Indians choose online-only term policies rather than going ahead with traditional methods? Let’s discover this transformation in detail.

Term

Why Digital Death Certificates Will Revolutionise Claims?

The death of a family member is a time of deep grief and emotional turbulence. Amid such a situation, imagine running from office to office to prove the obvious: death. Delays in this bureaucratic process not only cause emotional and physical strain but may also result in significant expenses. This is because delays in obtaining a death certificate may directly impact the insurance payouts and also property transfers in some cases. To address these challenges, the Government of India introduced the Civil Registration System (CRS) mobile application. The purpose is to reduce the time taken for registration of births and deaths. Let's understand how this digital shift may revolutionise insurance claims!

Term

Why Are Rural Populations Still Under-Insured in India?

The insurance sector in India is rapidly growing, driven by increasing awareness among people. However, rural India, home to nearly 65% of the population, is still on the margins of insurance coverage. There are several reasons behind it, including a lack of awareness, trust, and affordability concerns, among others. The idea of insurance is to protect your financial interests during uncertainties like medical emergencies, loss of property and life, etc. Yet in rural India, where income is unstable, the penetration of insurance is very weak. In this guide, we will explore why the rural population in India remains highly under-insured and discuss the way forward.

Car

Why “Valet Parking Damages” Cause Insurance Conflicts

Parking challenges in India are not a new phenomenon. Cramped spaces and an unorganised parking system have long been creating problems for vehicle owners. Even in spaces with valet parking facilities, vehicle owners are now facing a new set of challenges: Insurance conflicts due to valet parking damages. Imagine a case where the valet crashes the car. Who is liable to pay compensation? The insurance company or the valet service provider? Handing over the keys saves time, but at the same time, such unclear boundaries spark insurance conflicts. Let’s explore how valet parking damage is contributing to car insurance disputes in India.

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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