'It's better to be over-insured than underinsured.' 'Ensure your home insurance includes STFI (storm, tempest, flooding, and inundation) cover for protection against monsoon rains.'
The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
In numerous instances, family members are unaware of an insurance policy's existence, let alone its details.
Tarun Mathur gives a quick low-down on what advantages one can have when buying motor insurance online
You must initiate the claim process within 7 days of the damage. The more time you take to get the vehicle to a service centre, higher the chances of your claim getting rejected.
Read the fine print carefully lest your claim gets rejected, advises Tarun Mathur.
'Online aggregators offer discounts of 70% to 75%.' 'At a car dealership, the discount is usually in the range of 30% to 35%.'
Flooding this monsoon underscores the need to buy home insurance, says Tarun Mathur.
Travel insurance policies do not generally cover adventurous or sporting activities such as bungee jumping, paragliding, mountain climbing, or white water rafting, which fall under hazardous activities.
With mobile data getting cheaper, insurers are introducing technologies that eases buying and lodging claims.
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