5 reasons why you need life insurance

In the prime of life, with age and good health on our side, most of us do not worry about the uncertainties of life. Financially secure and physically fit, any future mishap and its consequences is the last thing on our minds.  However, contrary to what we might feel, this is exactly when we need to plan for the future, a future where we may not be as secure and fit as we are now.

Read more about Reasons to buy life insurance at the earliest

Why life insurance?

Insurance, be it for health, vehicle, life or home, is essential to cover the financial implications of unexpected events. Life has no guarantees is a statement that is clichéd but true. Obviously, no monetary valuation can do justice to a human life, but life insurance does not aim to do that! It simply aims to provide financial protection in case of a potential loss of income in the future, which could arise from multiple factors like death, disability, or retirement.

You need the security blanket of life insurance if any of the following reasons holds good for you.

  1. Provide for your family in case of death or disability

If your family is wholly or partly dependent on your income or your contribution in any other way, then they will be left in a very difficult situation in case of any unfortunate accidents. Life insurance comes to the rescue here by offering a lump sum or a steady income.  Explore term life insurance  by visiting our site.

  1. Finance your expenses and obligations

In case of the loss of income, your regular expenses and other obligations in terms of outstanding bills, loans or mortgages will be tough to manage. An insurance cover will help pay for all this, removing a big load off your shoulders.

  1. Have an additional source of income in the later years of one’s life

Life insurance is not just for death anymore; there are child plans, retirement plans, whole life plans, etc. These are all good investment instruments. So, if you are looking for a long-term investment and do not want to put your money in the traditional instruments like FD/NSC/PPF etc, life insurance is the way to go.

  1. Leave an inheritance for your children/dependents

Even if your children or dependents do not need financial support after your death, insurance is your way of leaving them an inheritance that is large enough for them to lead a life of luxury.

  1. Avail of Tax benefits

Premium paid for life insurance is eligible for tax benefit under section 80C. That, in itself, is a good enough reason to buy life insurance.

Read more about Understanding tax benefits of life insurance policy

Convinced? Buy One, Today

Life insurance can range from the simple protection plans to pension plans. Insurance companies also offer riders or add-ons, which cover accidents, critical illness, incapacitation, disability, premium waiver, income benefit rider, etc. Each rider addresses a specific requirement of the policy holder and you may choose to buy a policy with or without these riders.

Insurance essentially helps you plan for adverse situations. And life insurance plans for any kind of adverse situations that might impact your life or the lives of your loved ones. Not only taking care of loss of income, but also helping you lead your life with self-respect and peace of mind. So, young or old, single or married, with kids or without, stay at home parent or employed, everybody needs life insurance. To ensure you and your family is adequately provided for, no matter what turn your life takes.

Read more about What is insurance and how does it work?

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Read more about Life insurance policy in India – How does it works?

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Is your car safe for kids?

All parents know that it’s a tedious task to make kids comfortable in the car, especially when they are between 1 to 8 years old. Let’s face it, kids need attention and this distracts the parents while driving. As if keeping the kids from befuddling you is not enough, you also need to make sure that they are fine and all of this in a confined moving space.

If you don’t have kids, you might probably brush this off as an exaggeration. But if you are planning on having one, we have some of the best tips for keeping your kids safe in car.

Here’s a list of simple measures you can take for a stress-free and quality drive with your kid.

  • Child Safety Seat

    This is a prerequisite, so it comes first undoubtedly. Normal car seats and car belts are not made for kids. They are not ideal for a kid’s safety as the size is too big. In the case of mishap, these belts won’t hold the child, whereas the airbag will only prove too big to make things worse.Car Safety For Kids
    Having a booster seat within proper safety standards will ensure that the child is comfortable. The view out of the window is better from the seat. So, at least the seat won’t be a reason for your kid’s tantrums. Also, with a separate child safety seat, there’s one extra seat in the car. Such a win-win!

  • Kids on the backseat

    Even if your kid is too grown up to sit in the Child Safety seat but is less than 13-14 years old, you should make him/her sit in the backseat. Backseats are safer in general.

  • Childproof door locks

    Childproof car door locks will prevent the kid from opening up the door in a moving car.

  • Keep all loose items in the glove box

    Kids tend to fidget around with tiny things. However unimportant those things might be, there is a chance they put them in their mouth or somewhere they don’t belong. Always keep the loose items in the glove box.

  • Safe distractions

    Not for you though. Have some fluffy toys, snacks or music and audio books in the car to distract your kid from discomfort and crankiness.

  • Take stops at intervals

    Kids are less likely to come through on a longer ride. Take breaks to get out of the car every 3 hours at least. Change of place and movement makes kids feel fresh and thus less irritable.

  • Heat Check

    Plenty of cases have been reported in the past on kids losing their life due to hypothermia or heatstroke. Kids don’t adapt to temperatures as well as adults do. Keep a check on your kid’s body temperature with a thermometer. Moreover, don’t leave them alone in the car, irrespective of the time you are going to take to come back.

  • Additional Insurance Cover

    There is an option of adding optional personal accident covers to your Personal Accident Cover. The optional additional cover can cover the passengers, i.e. your family and friends, also your driver. You can add this cover for your child in the car insurance policy.

To know about how Personal Accident cover works you can consult us at support@turtlemint.com, call us at 1800-266-0101 or ask the Turtlemint chatbot.Hope you have a happy and relaxed journey!

Read more about All you need to know about car insurance

Read more about Benefits of buying car insurance online

Read more about Anatomy of car insurance plan

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Types of car insurance covers and their benefits

If you own a car in India, you would have to get your car covered under a car insurance policy. This rule has been made mandatory as per the Motor Vehicles Act, 1988. As per the Act, every vehicle, including a car, should have a valid insurance cover on it. If not, you, the owner would be held responsible for violating traffic rules and face heavy penalties.

Given the necessity of a valid insurance cover, there are different types of car insurance policies available in the market. Let’s understand what these policies are –

Types of car insurance based on the type of car

There are two types of car insurance policies based on the type of car that is being insured – private car insurance policy or commercial vehicle policy. Private car insurance plan covers privately owned four-wheelers while commercial car insurance plans cover taxis and other commercially used cars.

Types of car insurance based on coverage

This is, perhaps, the most common and popular basis on which car insurance policies are differentiated. Based on the coverage offered, there are two types of car insurance plans –

  • Third-party liability only plans
  • Comprehensive plans

Let’s understand these plans in details –

Third-party car insurance plans

Third-party policies cover the legal and financial liability that you face when you hurt or damage another individual due to your car. The policy covers the following types of claims –

  • Financial liability faced when an individual gets killed due to your car
  • Financial liability faced when an individual gets hurt by your car
  • Financial liability faced when you damage an individual’s property

Third-party plans are mandated by the Motor Vehicles Act, 1988. If you have third party coverage on your car, you are fulfilling the required rule of the Act.

Comprehensive car insurance plans

While third party plans are legally compulsory, comprehensive car insurance plans are voluntary in nature. You can choose to buy the policy for wider coverage of your car. Comprehensive car insurance plans are recommended because they also cover the damages suffered by your car besides the third party liability that you face. Thus, in comprehensive plans, you get coverage for the following contingencies –

  • Financial liability faced when an individual gets killed due to your car
  • Financial liability faced when an individual gets hurt by your car
  • Financial liability faced when you damage an individual’s property
  • Financial loss suffered when the car is damaged by natural causes like lightning, earthquake, floods, storms, cyclones, landslides, etc.
  • Financial loss suffered when the car is damaged by man-made causes like explosion, implosion, fire, malicious activities, riots, etc.
  • Financial loss suffered when the car is stolen
  • Financial loss suffered when the car is damaged while being transported

Comprehensive car insurance plans, therefore, have a wider scope of coverage and cover third party liability as well as damages suffered by the car.

There is also a mandatory personal accident cover which is available in both third-party and comprehensive car insurance policies. This cover is available for INR 15 lakhs and covers accidental death and permanent disability suffered due to an accident.

Types of car insurance plans based on coverage duration

As per a rule passed by the Insurance Regulatory and Development Authority of India (IRDAI), if you buy a car on or after 1st September 2018, you would have to buy a long-term car insurance plan on it. The rule mandates a long-term third party cover for three years and so, based on the rule, the following types of car insurance plans are available in the market –

  • Long term liability-only policy

This policy covers only third party liabilities for a continuous period of three years. The policy is available only for new cars.

  • Annual comprehensive policy

This policy provides third party coverage as well as coverage for the damages suffered by the car itself. The comprehensive policy, as the name suggests, is offered for one year.

  • Bundled policy

Since a long-term comprehensive cover might prove unaffordable for car owners, a bundled policy is also issued. Under the bundled policy, third party liability cover is allowed for three years while the comprehensive cover is allowed for one year. 

For cars bought before 1st September 2018, one-year third party or comprehensive cover is valid.

Thus, car insurance policies can be differentiated on the following types –

car insurance policies

Customizing your car insurance policy through add-ons

Comprehensive policies offer different types of car insurance add-ons. You can add these add-ons to increase the coverage benefits of your policy. Some of the most common and popular add-ons include the following –

  • Roadside assistance 

Under this add-on, you get the promise of round the clock assistance from the insurance company for any car breakdowns that you face

  • Zero depreciation

This add-on enhances the claim payable under the policy by removing the deduction for depreciation on the parts of the car which have been repaired or replaced

  • No Claim protect

This add-on protects the accumulated no claim bonus under your car insurance policy even after you make a claim

  • Engine protect

The add-on covers engine damages which happen due to water seepage into the engine

  • Return to invoice

The add-on pays the invoice value of the car in case of theft

  • Medical expenses 

In case of an accident involving your car if you are hospitalised and incur medical expenses, the expenses would be covered under the add-on

Roadside assistance in car insurance plans

Roadside assistance is an optional add-on that promises to offer 24*7 assistance and support if your car breaks down or stops in the middle of a remote place and you cannot find any help. The roadside assistance cover gives assistance for flat tyres, key replacement, accommodation, taxi services, fuel supply, battery jumpstart, etc.

Though the roadside assistance coverage is offered as an optional add-on with an additional premium, some plans incorporate the benefit in their coverage structure itself. You would, thus, find the roadside assistance cover inbuilt under the scope of some car insurance plans.

If you frequently take your car for long commutes or travel remotely, opting for the roadside assistance cover would be a wise choice.

How to choose the best car insurance?

When buying an insurance policy for the car, you should choose the best policy so that you get the most inclusive scope of coverage. To choose the best car insurance plan, here are some tips –

  • Opt for a comprehensive plan

A comprehensive plan not only covers the legal liability but also the damages suffered by your own car. Moreover, in the case of theft of the car, a comprehensive car insurance plan gives you a lump sum benefit that might help you replace the stolen car. Thus, opt for comprehensive coverage to avail of the best protection.

  • Choose an optimal IDV

The Insured Declared Value (IDV) is the coverage amount of the comprehensive car insurance plan. It is calculated by deducting the depreciation of the car from its market value. Insurers allow you to customize the IDV for maximum coverage. Choose an IDV as close to the value of the car as possible so that you get a high claim amount in the case of total loss or theft.

  • Opt for add-ons

Add-ons enhance the scope of coverage and also the claim amount. Choose suitable add-ons depending on your coverage needs to make your policy all-inclusive.

  • Hunt for discounts

Different types of premium discounts are available under car insurance plans. Hunt for the maximum possible discounts to reduce the premium outgo.

  • Opt for a wide network of garages

Networked garages allow you cashless claim benefits. So, when buying car insurance, you should opt for an insurer that has the widest network of cashless garages. This would help you locate the nearest garage easily and avail of cashless claims.

  • Check the CSR

The Claim Settlement Ratio (CSR) of the insurance company shows its claim settlement history. The higher the ratio, the more trustworthy the insurer. So, choose an insurer with a high CSR for a favourable claim experience.

  • Compare and buy

More than a dozen general insurance companies offer different types of car insurance plans. So, when buying a policy, the comparison is a must. When you compare you can find a plan that offers all the above-mentioned benefits and also costs the most reasonable.

How to buy car insurance plans?

You can buy any type of car insurance policy online or offline. For the offline mode, you can visit the insurer’s office or contact an insurance agent. For the online mode, which is much easier, you can visit the insurer’s website and buy the plan in an instant. For finding the best car insurance policy, though, you should visit platforms that allow you the facility of comparison.

Turtlemint is one such platform that allows you to compare and then find the best car insurance policy. Turtlemint is tied up with some of the best car insurance providers so that you can find only the best plans that are available in the market. To buy a suitable type of car insurance plan from Turtlemint, here are some common steps that you should follow –

  • Visit Turtlemint’s platform at https://www.turtlemint.com/car-insurance/
  • Provide the details of your car like the registration number or location, make, model and variant, registration and manufacturing year, details of previous policy (if any), type of policy needed, etc.
  • Also provide your contact details so that you can avail of personalized services to buy the best car insurance plan
  • When you submit the details you would be shown a list of the best car insurance plans available in the market
  • Compare the different plans based on their coverage and premium
  • Choose the most suitable policy, fill up an online application form, pay the premium through any digital mode and your policy would be issued instantly.

Buying car insurance through Turtlemint is simple and takes only a few minutes of your time.

Making a claim under different types of car insurance plans

Claims under car insurance policies depend on the coverage offered by the policies. Thus, it is important to know the process of making a claim under each type of plan. So, here’s a brief look into the claim process of the third party and comprehensive plans –

  • Claim under third party policies

    In the case of third party policies, the claim is reported to the Motor Accidents Tribunal where the financial liability is decided. The process is as follows –

    • Inform the insurance company as soon as the claim occurs
    • File a police FIR and the claim would be taken to the tribunal
    • The tribunal rules out the liability that you face and the insurance company pays the liability to the third party
  • Claim under comprehensive policies

    Under comprehensive policies, third party claims are made as per the above-mentioned process. However, if your car suffers damage, the claim process is as follows –

    • Inform the insurance company immediately. The company then tells you the location of the nearest garage where you can claim cashless repair services
    • Take your car to the networked garage of the company where a surveyor would assess the damage and prepare a claim report
    • Based on the surveyor’s report the insurance company approves the claim. Once the claim is approved, repairs on your car begin
    • After the repairs are done the insurance company settles the bill directly with the garage. You might have to pay a part of your claim after which you can take delivery of your car
    • In case you get the repairs done at a non-networked garage, you have to bear the repair costs and then get the costs reimbursed by the insurer

Amidst the different types of car insurance plans available in the market, choose the policy which suits your coverage needs. A comprehensive cover is recommended as it pays for the repair costs of your car. You can also increase the coverage with available add-ons and enjoy a wider insurance cover. Since car insurance is mandatory, choose the best plan and avoid legal hassles.

Frequently Asked Questions

  1. Do add-ons require additional premiums?

    Yes, since add-ons provide additional coverage, they require additional premiums. For each add-on that you choose you would have to pay an additional premium.

  2. Will there be premium discounts if I buy three-year comprehensive coverage?

    Yes, various types of premium discounts are allowed under comprehensive car insurance plans. You can claim a discount for the following –

    • Long term coverage
    • Installing safety devices
    • Becoming a member of automobiles associations
    • Modifying the car for disabled users
    • Choosing voluntary deductible
    • Existing no claim bonus
  3. What is the premium for personal accident cover?

    A personal accident cover for INR 15 lakhs costs INR 750

  4. If I don’t buy comprehensive plan would I face a penalty?

    No, if you have bought only a third party liability policy, you would not suffer any penalty for not buying a comprehensive plan. However, if your car faces any damage, you would incur huge repair costs in the absence of a comprehensive car insurance policy.

Don’t be fooled while buying health insurance

A health insurance policy has become a very essential requirement in today’s age when diseases are becoming so common. The high healthcare costs necessitate having a health insurance plan in order to protect our pockets from the brunt of medical expenses. As people are becoming more aware of the importance of a health insurance policy, insurers are offering different types of health plans. Each plan has a unique feature which separates it from the rest. In a melee of so many health insurance plans, can you select the best one for yourself?

Though you might look at the coverage features and the premium of a health insurance policy, you might still make a mistake while buying the health plan because of its complicated nature. Moreover, when it comes to buying a health insurance plan, you have different channels through which you can buy the plan. There is your regular agent or a more professional broker at your service. Then there is the online platform where insurance companies sell health insurance plans directly to you or through web aggregators. With so many modes of buying a health plan, can you be fooled when buying the plan? Yes, you can be. No matter which buying channel you choose, there are areas where you might falter. Let us have a look at such areas corresponding to different health insurance buying channels:

Independent Insurance brokers

NBFCs, web based firms and even other private firms act as brokers for health insurance companies. As brokers, they deal in plans offered by multiple companies and hence can provide more options. When buying from them, here’s how you can be fooled:

  • They may not always mention the limiting features of the policy.

When you buy a health plan from brokers, they would tell you all about the plan benefits. However, the health plan also has some restrictive clauses like waiting period, limits on expenses, etc.; which might not be told to you. Since your health plan would cover your medical expenses based on the plan’s terms and conditions, such restrictive features, if not revealed, can easily fool you.

  • They may not tell you the importance of on-time renewals and No Claim Bonus (NCB) benefits.

In any year when you have a health plan and do not make a claim therein, you are entitled to a No Claim Bonus (NCB). This NCB is cumulative in nature and increases each subsequent claim-free year. This NCB is available only when you renew your health plan without any break. Brokers may not mention this renewability benefit. Being unaware of the continuity benefit, you can lose out on your plan’s NCB and be fooled.

Find out what is cumulative bonus and no claim bonus

  • They may not educate you on your plan’s claim process

Another point where brokers might fool you is on the claim process of your plan. Brokers usually promise assistance at the time of a claim and as such might not educate you on the claim settlement process. Thus, you become completely dependent on brokers for helping you at times of a claim and if for any reasons, they do not respond on time, you might face difficulties in getting your claim settled.

Offline Agents

Agents typically sell products from only a particular insurance company. You usually entertain agents if they are trustworthy and you are acquainted with them. While you can benefit from some professional assistance, there are areas where even your trustworthy agent might fool you. Let’s find out what these areas are:

  • Does the agent tell you that your plan has a list of exclusions?

Every health insurance plan has a list of exclusions or uncovered risks. Your agent may overlook and avoid mentioning these exclusions, fearing you might not buy the plan altogether. Here you would be fooled because when you make a claim in your health plan, you may be forced to bear the expenses yourself based on the plan’s exclusions.

  • Does the agent give you the option of plans from other companies?

As mentioned earlier, the health insurance marketplace offers a wide range of plans. However, your agent represents only one insurance company. As such, your agent would not tell you of other health plans which might be better and also cheaper than the plan offered by him. You might, thus, be fooled to settle on your agent’s plan when there are other better plans available in the market. Moreover, you might end up paying a higher premium since your agent cannot offer you cheaper plans from other companies.

  • Your agent may convince you to settle on a smaller coverage.

Agents may fear that if they tell you to buy a higher coverage you might not part with the higher premium. Thus, they may convince you to buy a smaller coverage to ensure a sale. For instance, when you are buying a family floater cover, a higher coverage is always advised. The agent might not tell you the importance of a higher cover and sell you a cover with the lowest premium to motivate you to buy the plan. However, this cover may not be sufficient. Instead, your coverage should be selected based on your requirements, the number of members covered and the increasing medical expenses.

Is the online platform foolproof?

Online web aggregators and comparison portals have now become a popular choice to buy a health insurance plan. However, even on the online marketplace you can be fooled. Here’s how:

  • Internet is a public space

Online insurance quotes are available for free and can help you find the right health policy by comparing the quotes. However, be careful while dealing with the online channel. Make sure the website you select is a secured site before disclosing any personal information.

  • While a little knowledge is dangerous, too much is confusing!

You can also find every information about different health plans online. This bulk of information has one effect. Rather than educating you, such huge information might actually fool you.

How to avoid being fooled

Despite the pros and cons, you will have to use one of the above sources for buying insurance. Buying insurance is as important as buying a house or a car, but good research and information is definitely required to avoid being fooled. One should evaluate all the options and after being satisfied with the information collected, opt for what suits the best as per requirements. Find out here to understand how to compare health insurance plans.

Your health insurance buying experience would be pleasant only when you are sure that you got the best plan at the best rates. So, educate yourself and be vigilant when you buy a health insurance plan.

Read also An anatomy of an health insurance plan

Read more about Dejargonizing health insurance terms
What if you want to cancel your health insurance policy after buying one? Will you get a refund? Check our video below to know more

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Maximizing the resale value of your car

You’ve been planning to sell off your car, but are disappointed with the value offered. Well, here’s our Turtle who’ll reveal the secrets of maximizing the resale value of your car.

What is Car Insurance

Rahul knows a lot more about Car Insurance now, and so do you. To know more about CAR INSURANCE call our Car Expert at 1800-266-0101
or visit our website at: https://www.turtlemint.com/car-insurance

Read more about All you need to know about car insurance

Read more about Benefits of buying car insurance online

Read more about Anatomy of car insurance plan

Guide on Waiting Period in Health Insurance – Explanation & Exclusions

Mr. Mehta was happy after he bought a health insurance plan. He secured his finances from the effects of a medical contingency. He was a diabetic and one year later faced hospitalization for a kidney ailment. When he raised a claim, it was rejected. Feeling cheated he inquired after the possible reason of rejection. He was told that his kidney ailment was due to his diabetes which classified as a pre-existing condition. His health plan excluded such pre-existing condition for the initial 3 years due to which his claim was rejected. After treatment he delved into the concept of pre-existing diseases for future references and learned a lot.

Medical contingencies have a way of putting a strain on our finances. The rising cost of medical treatments and the rising incidence of diseases spell a warning for our finances. In these situations a health insurance plan becomes necessary. But does your health plan cover every medical contingency suffered by you?

No, it does not. Every health insurance plan has a list of exclusions. This list states the instances of medical contingencies which are not covered by the plan. Common exclusions include hospitalization due to suicide or self-inflicted injuries, HIV/AIDS, participation in hazardous sports and activities, acts of criminal nature, etc. One such exclusion, which is common to most health plans, is the coverage for pre-existing illnesses.

What are pre-existing diseases?

Diseases or ailments that you already suffer from when buying a health insurance plan are called pre-existing diseases. Common examples of such diseases include hypertension, diabetes, heart-related ailments, etc.

Are pre-existing diseases covered under a health plan?

Your health insurance plan is meant to cover such medical contingencies which are uncertain and unforeseen. Pre-existing diseases, on the contrary are known and their complications are also foreseeable. Such diseases also increase the probability of other medical complications. As such, health insurance plans exclude the coverage for pre-existing diseases. These exclusions can be temporary or permanent.

  • Temporary exclusion – pre-existing ailments which have no serious effect on your health are covered by your health insurance plan after a waiting period. If you suffer from any complication related to your pre-existing condition during the waiting period, no claim would be paid. For instance, if you are a diabetic and suffer from diabetic retinopathy (kidney ailment) during the waiting period, the treatment cost would not be paid.
  • Permanent exclusions – certain pre-existing ailments might be severe and pose a very high risk of health complications. Such diseases or ailments are permanently excluded from your health plan. For instance, if your diabetes is very high, any complications arising out of it might be permanently excluded from the plan.

Read more about how to fight diabeties

However, complications arising out of pre-existing diseases due to an accident are covered without any waiting period.

What is a waiting period for pre-existing diseases?

Health insurance plans exclude the coverage for pre-existing diseases for a specified period. This period is called the waiting period. If you suffer any complication due to any pre-existing disease and seek treatment within the waiting period, the costs of such treatments would not be paid. There are two types of waiting periods in your health plan:

  • Regular waiting period – This is a waiting period for pre-existing illnesses. Different health plans impose different waiting periods. Normally, such waiting periods range from 1 year to a maximum of 4 years.
  • Specific waiting period – certain treatments have a fixed waiting period of 2 years after which they are admissible. This waiting period is called a specific waiting period. These treatments might or might be related to your pre-existing diseases. A specific waiting period of 2 years is applicable in all health insurance plans in addition to the regular waiting period for pre-existing illnesses. Some common treatments for which the specific waiting period is applicable include sinusitis, tonsillitis, cataract, hernia, piles and fistulas, etc.

What to do if you have a pre-existing illness?

Though you might feel dejected that your health plan has terms and conditions in place for your pre-existing illnesses, there are ways to deal with such conditions. Here are things which you should do when buying a health plan with pre-existing diseases:

  • Be honest – the first and foremost thing to do is declare your illnesses. Though your plan would exclude coverage for your illnesses, temporarily or permanently, you would have the assurance of claim If you do not declare your pre-existing illness and later suffer from it, the insurer would investigate the cause of claim. If it is discovered that the claim is a result of a pre-existing illness which was not declared, the claim would be rejected and your policy might become null and void. So, declare your illness when you buy the plan. Though it might be covered after the waiting period, your policy would at least pay other medical expenses and would be valid.

Also read why your health claim was rejected

  • Explore plans – different health plans have a different tenure of waiting period. Explore various plans and find the one with the lowest waiting period.
  • Buy young – pre-existing diseases usually occur in older ages. So, buy a health plan when you are young and healthy. That way you could wait out the waiting period when you have no illnesses and get complete coverage when you age and develop such ailments. Also, don’t forget to renew your policy for a continued coverage.

Here’s why you should invest in Health Insurance early

Pre-existing illnesses are not the end of the road. They are simply a road-block. While your health plan would have exclusions for such pre-existing illnesses, it would cover other ailments. So, know the technical treatment of your pre-existing illnesses before you buy a health plan.

Read also An anatomy of an health insurance plan

Read more about Dejargonizing health insurance terms

Feel free to leave your thoughts or comments below

Car insurance terminologies you should know

You have a car insurance plan because it’s mandatory. But do you know all the terms written in it, to know if it’s the right one for you? Our Turtle explains these terms so you make the right choice.

Car Insurance Terminologies Infographic


Rahul knows a lot more about Car Insurance now, and so do you. To know more about CAR INSURANCE call our Car Expert at 1800-266-0101 or visit our website at: https://www.turtlemint.com/car-insurance

Read more about Anatomy of car insurance plan

Read more about Types of car insurance cover and their benefits

Read more about Discounts on car insurance you did not know about

7 reasons why you should invest in health insurance early

It is often said that “Health is Wealth”. A hectic life, increase in pollution levels, contaminated food, etc., our health faces serious concerns in today’s age. Though life expectancy has increased the amount of diseases affecting the younger generation has also been increased. The medical costs associated with treatment of such diseases are an all-time high. Bearing such heavy expenses is difficult for a common man. Here is where health insurance proves beneficial. It pays for the medical costs which are incurred on treating any ailment and thus protects our finances. So, a health insurance policy is needed. But, when should you buy?

The answer is – as early as possible. Even when you are young and are free from medical ailments, having a health insurance from a young age is beneficial. Let us see how:

Benefits of investing early with Health Insurance:

  • Employer cover is just not sufficient

Though your employer might have provided with a group health insurance cover, is it sufficient? Given the fact that medical inflation is high, your employer-sponsored health cover is not sufficient to meet your hospitalization expenses. Moreover, during job change or loss of employment you may be left uninsured. Hence, it is advisable to buy an independent health insurance policy to be financially secured.

  • Rise of lifestyle and critical illnesses

A sedentary lifestyle, higher consumption of junk food, increased pollution levels, etc. has led to an increase in the number of diseases like hypertension, diabetes, obesity, lung disorder, etc. Moreover, these diseases strike from a very young age. Critical Illnesses like cancer, heart attacks, stroke, etc. have also become common phenomena. Both lifestyle and critical illnesses necessitate medical attention which results in huge costs. Thus, it is very essential to get yourself insured on time.

  • Completing waiting period before you actually need it

Health insurance policies usually have waiting period of 2-4 years for pre-existing illnesses and even for some named diseases like cataract, hernia, etc. During such waiting period, you cannot get coverage for illnesses you suffer from when buying the policy. If you buy a health insurance policy at a young age, the waiting period would be exhausted by the time you develop a need to cover any of your pre-existing illness or specific diseases and require such coverage.

  • Accumulating NCB in initial years

Many insurance companies provide ‘No Claim Bonus’, if no claims are made in the previous year. When you are young, you do not require medical assistance and so do not make any claim. You can, thus, accumulate the NCB of your plan till the time you actually make a claim. Since most NCBs increase the Sum Assured, you can enjoy a higher coverage at the same premium in later years when you make the claim.

  • Coverage

It is safer to buy health insurance policy early in your life to enjoy a wider scope of coverage. Since your health risk would be lower in younger ages, the insurance company would allow you a more comprehensive coverage than when you buy in older ages.

  • No need of pre-entrance medical check-ups

Insurance companies require you to undertake a medical check-up past a certain age (45 years usually) due to increased health risks. When you buy young you don’t have to undergo for these pre-entrance check-ups. Moreover, if, on such a check-up, your health risk is found to be high, the policy might have coverage restrictions and increased premiums (known as premium loading). To avoid such restrictions and to pay lower premiums, buying young is always recommended.

  • Lesser chance of rejection

Your health insurance policy is issued after medical underwriting. Medical underwriting means assessing your health risk. When you are young and have good health, the underwriting would be favorable and you can get the policy easily. However, when you age and develop some medical complications along the way, your medical underwriting would not be so favorable. If you have severe health complications, the insurer might reject your policy altogether. Thus, buying the health plan at a younger age lowers the probability of rejection.

Click here to watch video on why you must buy a health insurance policy at a young age:


A health insurance policy is an essential requirement to tackle those burdensome medical costs. If buying young has so many benefits, why delay. Buy a health plan early and enjoy its many benefits. So, hurry up and grab your policy now!

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