Life insurance is taken primarily to secure oneself and/or one’s family when the ability to earn is less or provide for the dependents when the insured is either deceased or unable to earn a livelihood. 

While you cannot exercise control over life and death, you can certainly plan for the financial security of your loved ones in the event of an unforeseen incident. Life insurance provides financial security in the event of death of an earning member of the family and is therefore an important constituent of any sound financial plan. Different types of insurance helps to protect you and your family in different ways against the cost of accidents, sickness, disability, death and other life-changing events.

Term insurance plan is a form of life cover, it provides coverage for a defined period of time, and if the insured expires during the term of the policy then death benefit is payable to nominee. 

These policies are available in the range of 10-30 years term and are relatively cheaper than endowment policies, money back policies and ULIPs. It enables you to secure your family financially, by offering a high life insurance cover amount for a relatively low premium payment. You can pay these premiums regularly, or at one go, depending on the insurance policy you choose. The benefits in a term insurance policy can be availed only in the event of the death of the insured. 

No one can predict or avoid illness. Illnesses can range from minor to potentially life-threatening ones. It is important that one is covered with adequate health insurance to meet the unexpected medical costs which are also rising at a fast pace.

Alarmingly, the percentage of people who have any kind of health insurance in India is very low. Often, people are not even aware of its need. Add to that the fact that the cover is inadequate in the wake of healthcare costs.

Why do you need health insurance?

With increasing levels of stress, sedentary lifestyles and a deteriorating environment due to rapid urbanization, you are more susceptible to diseases than before. And when you suffer from a serious ailment, the treatment often comes at a huge cost.

By selecting a health insurance policy, you can ensure your finances never get in the way of your well-being.

Many people think they do not need health insurance and can manage medical expenses from their savings. This is a wrong notion because:

• It takes time to create adequate savings to take care of major illnesses. So if a person falls sick before he can save enough then he may not be able to afford the cost of treatment.
• Illnesses do not discriminate between the rich and poor. Everyone incurs the same cost for the same treatment.
• No one can predict how much savings are enough. After a few years when you are old and you realize that your savings are not enough to take care of your medical expenses, it may be too late to take corrective action.

In these situations you may have to dig into the corpus that you have created to achieve your life goals like your daughter’s marriage, or you might have to take loan. With health insurance, you can address these concerns easily, without compromising on other goals. A comprehensive and reliable health insurance plan can ease any financial stress related to falling ill or being hospitalized.

Individual Plans

Family Plans

Senior Citizen

Top-Up-Plans

Speciality

Personal Accident

Travel

The accidental insurance policies cover both death and any sort of disability arising from an accident. These plans cover a wide range of situations but not ones arising from using alcohol or drugs. 

The top accidental insurance policies available in India may be mentioned as below:

Vehicle insurance is also referred to as auto insurance, car insurance, GAP insurance, and motor insurance. It is primarily bought for securing road vehicles such as cars, motorcycles, and trucks from physical damage from traffic accidents as well as any liability that may arise thereafter. 

Following are the leading vehicle insurance policies available in India: 

Property insurance provides coverage against risks to property arising from fire, weather damage, or theft to name a few. This type of insurance can be further sub divided into fire insurance, earthquake insurance, flood insurance, and boiler insurance for example. The Standard Fire & Special Perils policy of SBI General Insurance is one of the major examples of such a policy.

There are a variety of other insurances that are provided through Arhaum Enterprises(Indian Wealth Management), which include:

1. Personal Insurance: It is essentially a plan availed by an individual to take care of various requirements like health and coverage against death or injury by accident.

2. Medical Insurance: Medical or health insurance is taken to cover against the chances of any medical costs.

3. Rural Insurance: It is meant to cater to the requirements of rurally based businesses or individuals.

4. Industrial Insurance: These policies are availed by various companies to get protection for important projects, construction, contracts, and equipment from situations like fire, theft and any form of damage or loss.

5. Commercial Insurance: Commercial insurance is availed in order to get security against theft, liability, and property damage.

6. Travel Insurance: This insurance is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while travelling.