GENERAL INSURANCE BLOG

Travel is like hitting a reset on the mundane flow of life. It is a breath of fresh air a amid hectic schedule involving tedious work. Refocusing efforts on personal growth rather than material success to prevent burnout and enhance productivity has allowed young professionals to take holiday breaks, explore the world to develop new perspectives, and take on new challenges.

While travel opens up a new world of possibilities, cultures, and experiences, one should never neglect uncertainties. Accidents are an uncertainty in life that one must always prepare for. Often forsaken since they are rare occurrences, irrespective of scale, they leave the victim with pain, financial burdens, and sometimes, lifetime disabilities.

Although you can't prevent accidents, you can be prepared and protect yourself against allied financial losses by buying personal accident insurance India. If you are an avid traveller, here's why you should consider purchasing personal accident insurance India before setting on your next journey.

What is personal accident insurance India?

The severity of accidents is often undermined due to their infrequency. However, irrespective of the cause of the accident, they may lead to accidental deaths, bodily injuries, or disabilities. Personal accident insurance India seeks to insure the policyholder against the financial losses arising from specific accidents that health and life insurance exclude.

Why should travellers purchase personal accident insurance India?

1. Stress-free travel: Exploring new lands and getting a taste of new experiences is best enjoyed without additional stress. Personal accident insurance India protects against accidents you may encounter while on your globe-trotting adventure. Check the fine print of your policy to ensure that your insurer covers accidents occurring abroad. If not, make sure you buy additional specific coverage for the same.

2. Medical compensation:
With medical inflation reaching record heights, healthcare services are costly across the globe. Depending on your preferred destination, you may have to shell out more if you need medical attention due to an accident. Personal accident insurance India covers hospitalisation and allied medical expenses, lifting the financial burden from your shoulders.

3. Additional benefits:
Apart from the medical compensation offered to the policyholder, their family can avail of family transportation allowance, children's education allowance, loan protection services, etc., to shift the burden from the policyholder.

Types of personal accident policy coverage.

1. Accidental death cover:
In case of the insured's accidental death, the nominee receives 100% of the total insured sum stated in the policy.

2. Permanent partial disability cover:
This insurance plan acknowledges disabilities that limit the functioning of the person. For partial disabilities like the loss of specific senses or body parts, you can claim up to 100% of the insured sum.

3. Permanent total disability cover:
Accidents that lead to the loss of essential body parts like limbs that directly impact the insured's ability to return to normal activities make the nominee/policyholder eligible to claim the assured sum.

4. Temporary total disability cover:
Where accidents impair the policyholder's ability to return to regular activities temporarily, the insurer pays a specified sum during the rehabilitation period in the form of a daily or weekly allowance to meet EMI payments, general living expenses, etc.

Exclusions of personal accident insurance.

Before purchasing personal accident insurance India, you must be aware of some of the main exclusions not covered by the policy:

● Natural death

● Pre-existing disability or injury

● Suicide or self-injuries

● Influence of intoxicants

● Acts of terrorism

● Engaging in criminal activities

Encountering an accident is not predictable. Purchasing personal accident insurance protects the policyholder against many accidents, including travel accidents. To protect yourself and your loved ones from unknown risks and travel stress-free, buy personal accident insurance India at the earliest from your preferred insurer!

Click HERE to buy personal accident insurance India policy.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

COVID-19 vaccines strengthen our immune system, and help it recognize and combat the coronavirus. The type and frequency of doses vary for different vaccines, however, beneficiaries are advised to take two shots of vaccines currently available in the country. Post vaccination, it generally takes a minimum of two weeks for anyone to build immunity against the virus.

Key Information and COVID-19 Vaccine Advisory:

• From 1st April 2021, all individuals over the age of 45 (irrespective of co-morbidities or pre-medical conditions) are eligible for the COVID-19 vaccine.
• Beneficiaries are requested to complete all prescribed doses of the vaccine.
• As per medical experts, post-vaccination effects (nausea, mild fever being the most common) are normal.
• Even after vaccination, all safety measures for COVID-19 are to be strictly followed at all times, including social distancing and wearing masks.
• The duration for which the COVID-19 vaccines are effective and its efficacy against the new strains of the virus is still unknown. Hence, it is absolutely essential to not let our guards down.
• We urge you to not be misled by fake vaccine marketing / promotions, as it is not available in open markets yet.
• Do not attend a vaccination appointment if you are self-isolating, or awaiting COVID-19 test results, or are unwell.
• Research efforts are ongoing for knowing how many people should get vaccinated to attain herd immunity (which means enough people being vaccinated making it tough for coronavirus to spread from person to person). Hence, rumors about herd immunity being already attained, should strictly be ignored.
• To know more about the vaccines, please download the CoWIN App, or log on to www.cowin.gov.in. You can also visit the Ministry of Health and Family Welfare (MoHFW) website (www.mohfw.gov.in) for regular updates about COVID-19.
• For any queries, call the Government helpline number 1075 or +91 11-23978046.

Cost and Availability of COVID-19 Vaccine:

• Vaccines are available at different government hospitals for free and at private hospitals at a price of INR 250 per dose.
• The COVID-19 vaccination providers cannot deny any individual above the age of 45 to get themselves vaccinated, except for reasons best known to medical practitioners.
• The government is currently working on making the vaccines widely available for everyone at no cost in the coming months.

Ever imagined what the three magical words for people with jobs are? It has to be, “Salary got credited”. But the actual happiness comes in when you get an increment in your current salary. Getting a salary raise after years of hard work is a significant milestone in life. After constantly working towards achieving your goals, earning a salary hike is a moment to celebrate, even if it’s small.

Once your source of income increases, your expenses also go up simultaneously. In addition to this, your taxes inflate too. Unless you have a proper financial plan, things might take a toll. But, not to worry, here are a few essential steps that you can implement after getting a salary increment.

1. Clear all your debts – no more instalment reminders:
Before you start spending more, it is important to clear the outstanding dues. If you plan to purchase something new on credit card or instalment, you must clear your loans or ongoing EMI. This will ensure that you don’t end up in any financial burden or unnecessary late payment on your existing loans. Once your dues are paid, your financial responsibility will automatically lower down, meaning you can spend extra on your next vacation or upgrade of your car!

2. Review your general insurance plans – improve the quality of life:
Life is unpredictable; you never know what another day may bring. The previous insurance might not be enough to fulfil your current financial needs. As your salary increases, you want to make sure that you secure the future of your loved ones by saving adequate funds. Insurances could be multiple such as your life insurance plans, motor insurance, general insurance plans, or your health insurance. Make sure you increase the budget of your coverage with more features for the better financial security of your family.

3. Make effective tax planning – be a super saver:
No one can neglect the taxes. As a responsible citizen, you are obligated to pay a certain amount of income tax on your earnings, depending on your income. After an increment, your taxes will also increase. Unless there’s proper planning, you might end up paying heavy taxes, which you could avoid by investing in financial instruments. For example, you can invest in life insurance plans, mutual funds, stocks, etc. Under the law, the taxes will not consider the fees you will pay for your insurance.

4. Work towards increasing your net worth – get ready to grow more:
Securing your money for long-term benefits is one of the wisest decisions. As your source of income increases, your standard of living improves. Your hobbies will change as you want to travel, learn new courses, or provide all the facilities to your kids. However, this cannot happen if you simply earn and spend. You can decide to invest in properties, gold or SIPs. Depending on the risk you can bear, ensure to invest in balanced funds, equity, or other market-linked funds.

After years of hard work, you feel more motivated at work when you finally get recognition. Always hold on to this motivation and work with dedication to justify respect and financial security. Since maintaining a sensible lifestyle should be your priority, ensure you get protected with a robust general insurance plan to gain extra benefits for you and your family. As it is rightly said that hard work has no substitute, you need to sweat and exploit your capabilities to conquer the milestones you’ve set for yourselves.

Click HERE to know more about the general insurance plans available.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

The process of self-quarantining must be wearing you off with an increase in social distancing. The new normal routine comprises a couple of video calls, work from home, binge watch-eat sessions, and peace of mind.

Benefits Of Working Out During COVID-19

No wonder that COVID-19 changed our way of normalcy. Be it the transition into virtual conversations over weekend plans. The real issue arises when it comes to motivation; pushing yourself the extra mile isn’t as simple as before. In the comfort of home, possibly, you feel you need to recreate your mini gym experience. Don’t worry, even if your experiences are not as vivid as swimming or hiking with friends; nevertheless, it is appropriate for your overall health.

The next issue is regarding the time slot, as the decision weighs more on “should” instead of “want.” Setting up a workout schedule is a simple priority task. It isn’t as important as global hunger or youth unemployment but positively impacts your physical and mental health. Even half an hour of workout motivates you to stay energetic throughout the day and lets you focus on other elements.

Daily workout sessions help curb depression, diabetes, high blood pressure, and provide a stress-free life approach. During these uncertain times, take charge of your life by investing time to workout. For your empowerment, Magma Insurance brings in the best general insurance plans. Compare and choose among the policies relevant to you. General insurance includes insurance for different coverage such as fire, marine, accident, travel, and other related non-life insurance.

Exercise Plan To Stay Motivated

Amidst the chaos of being laid back yet managing it all from home, diving straight into an intense workout regime isn’t typically what you need. Make a workout plan based on your energy level, existing health issues, and available time in your schedule. Start small, gradually build-up on successes. Magma Insurance general insurance plans help you stay motivated while covering up for you against calamities.

Prioritize Your Workout

Maintain your workout routines just as you would stick to your appointments. Instead of feeling out of time, keep a separate schedule for workout. So you instead finish off your workout session and move on to other important work. A burst of exercise stimulates your mind and pushes you through the rest of the pending tasks.

Do It At Your Own Time

Perhaps, setting a time for your workout schedule doesn’t seem much of a task but following it is. Some people find it immensely energizing to set up a long term exercise routine in the morning. As after finishing off, it sets a positive tone for the day. Others prefer evenings to get charged and end the day by shedding off kilos of worries. Magma Insurance general insurance plans are here to wipe out your concerns about any mishap during these unprecedented times.

Track Your Specific Workout Goals

Set in goals to hit your overall target, rather than merely aiming for a better shape. For instance, 30 minutes cardio session every day can not only boost positivity but also help you attain your desired body image. Keep track of activities via one of the many fitness applications that measure factors such as duration of your workout, distance covered, efforts to aim daily goal of steps, and heart rate.
Workout sessions include proper usage of equipment. Even at home, wear good shoes, tight clothes to ease you through your adaptive phase. Consult a doctor if your health issues interfere with your workout session or if you witness any other effects due to work out. Give your body an adequate amount of time to adjust and improve. To avoid any hassle and stay secure, try Magma Insurance general insurance plans.
Instead of sitting idle all day, binge-watching your favorite show, or on meeting calls, try walking around the home. Clean your pod, scrub a sink, or water your plants. Do squats or lunges or jumping jacks in between breaks.
Magma Insurance general insurance plans are the new age insurance plans which cut down the excess paperwork, seamless communication, easy investment, and claim process.