Insurance Plans In India

A life insurance policy is a contract between insurance provider and the insurance buyer. Insurance company provides a life cover to the policy holder in exchange of premium payments. In unfortunate event of demise of the life insured, a lump-sum payment is made to his beneficiaries/ nominees.
Car insurance policy is a contract between car owner and insurance company, where the company protects you against the financial losses incurred due to an accident, theft or third party liability. There are two main types of car insurance plans in India- Third party liability policy and Package policy.
Travel insurance policy will back you up financially in times of situations such as losing your passport, missing your flight, medical emergency, losing your baggage, etc. while travelling overseas. A single trip policy will provide cover for a single journey whereas an annual multi trip policy will provide a cover for multiple trips throughout a year.
A medical emergency can strike anyone at any time, causing significant emotional and psychological trauma along with huge medical bills! Health Insurance policies provide financial aid in such situations. They provide cover for expenses incurred during the medical treatment of an insured person.
Having valid two wheeler insurance is mandatory to ride a bike in India. This insurance provides financial and legal aid to the insured in situations of accident or damage due to some other reason. Two wheeler insurance also provides cover for legal liabilities against a third party.