6 tips to reduce health insurance premiums

Doesn’t the prospect of discounts and bargains sound like music to your ears? It must. After all, who doesn’t like saving money? That is why we keep an eye out for offers and discounts, wait for the sale season and buy only after comparing between the available choices. When it comes to health insurance plans too, we look for ways to reduce the premium without compromising on the coverage. Is it possible to do so?

Actually it is. Since a health insurance plan takes care of your medical bills, having an optimal coverage amount is essential. Juxtaposed to the optimal coverage, the premiums should also be affordable. You can’t burn your pockets on a health insurance plan, can you? You can’t and that is why, here are 6 tips to reduce your health insurance premium:

Tip # 1 – choose a coverage based on your family’s health requirement

When you are choosing a health insurance plan it is imperative to consider the coverage requirements you and your family needs. Then you should look for such coverage features in potential health plans. Since the premium charged by a health insurance plan depends on the coverage it extends you should choose only the coverage features you need so that you do not pay additional premium for unnecessary coverage features. A very common example is the maternity coverage feature available in some health plans. If you already have kids and are not planning to have any more, a health plan with maternity coverage is unnecessary for you. So, assess your coverage needs and then opt for a health plan.

Tips # 2 – lead a healthy lifestyle

Your lifestyle determines your health. If you lead a healthy life you are less prone to ailments and diseases. This fact is recognized by many health insurance companies which offer special premium discounts if you maintain a healthy lifestyle. So, take out your running shoes, hit the gym, choose a balanced diet and enjoy premium discounts in your health insurance plan. Doesn’t this premium reducing way provide dual benefits? You can save your money and also become fitter and healthier. A win-win situation, don’t you think?

Tip # 3 – buy young

What, do you think, is the right age to buy a health insurance policy? Is it the 30s or the 40s? The fact is the younger you buy the better. Buying young has dual advantages. One, you can get a comprehensive coverage without restrictions. Two, you save on the premium costs. So, if you want to reduce your health insurance premiums, buy a policy when you are young.

Read more about Health insurance not an option any more but a necessity

Tip # 4 – utilize the 80D tax benefit optimally

The premiums which you pay for your health insurance plan are tax-free under Section 80D up to Rs.25, 000 (Rs.30, 000 if you are senior citizen). So, if you are in the 20% tax-bracket and your health insurance premium is Rs.20, 000, your effective premium would become Rs.20, 000 less the tax you save which is (20% of Rs.20, 000) amounting to Rs.16, 000. Moreover, if you pay the premiums for a policy of your parents, you can save an additional Rs.25, 000 (Rs.30, 000 if they are senior citizen) from your taxable income. So, utilize the provisions of Section 80D and save on your health insurance premiums.

Tip # 5 – look for discounts

Health insurance plans offer different types of premium discounts. For instance, if you buy the policy online you can get a discount. If you add 2 or more family members in the plan you can earn a discount. If you buy a 2 or 3 year policy, you can get a discount. So look for these premium discounts which lower your health insurance premiums.

Tip # 6 – compare before you buy

Do you know how many health insurance plans are available in the market? Too many to count! Every health insurance plan has different coverage options and is priced differently. That is why, comparison is very essential. Go online, look for available health insurance plans pertaining to your coverage requirements, compare the premium quotes and then buy the plan. When you compare you can get a plan which offers the best rate of premium and save money on the premium costs.

Simple tips which, when followed, help you to reduce your health insurance premium. There is no sale season in the health insurance market but these tips are sure-shot ways of reducing the premiums. So, remember these tips and save your hard-earned money.

Read also What is insurance and how does it works?

Read also An anatomy of an health insurance plan

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Also, check out our video below to know the 6 tips to reduce health insurance premium

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Keep the monsoons from raining on your car-parade

Monsoon is here! And, while you might stay safe inside, your car will be facing the rains head on. Your car needs as much as care as you to be safe during monsoons. The condition of the car will help you get a better resale value and thus lower car insurance premiums. But, the usual maintenance routine won’t do much for your car in monsoons. Especially, if you are planning long drives or commutes on water-clogged roads, be extra vigilant of your car’s condition.

Prevent mechanical breakdown in the monsoons simply with these 8 point check-list

  • Oil

    The recommended interval for changing oil is usually after every 4,800 Kms. To be on a safer side, use the dip-stick to check the level and shade of oil, which should be a pleasant shade of amber.

  • Air Conditioning

    Weak air-conditioning system won’t be able to handle tough rains. Make sure you get it checked by a mechanic. Monsoons means more dirt, don’t forget to get the filters cleaned

  • Cooling System

    We would recommend it to be checked, flushed and refilled by a professional every 24 months. Air-conditioning fogs up the windshield whenever there is a high temperature difference in the car cabin and the atmosphere outside.

  • Engine

    Engine filters like the fuel, PCV, etc. too need to be cleaned or replaced as required. Check the user’s manual for how often these filters need to be cleaned.

  • Tyres

    Tyres should be your foremost concern for safety as there are chance of skidding during the monsoons. Get your tyres checked and rotated on time, usually every 5,000 miles. The tyre inflation should be checked every time you refill the fuel. Other aspects you should look at for tyre-safety would be tread life, uneven wearing and tearing, cupping, and alignment.

  • All Fluids

    We’ve covered oil, but there are other fluids like the coolant, automatic transmission fluid, power-steering fluid, brake fluid, that need to be checked.
    Most important during the monsoons are the brake fluids. They play an essential role in the wear and tear of your brakes and tyres. Degradation of the brake fluid might result into complete brake failure. Have the brake fluid changed once every 2-3 years.
    Not all cars are equipped with automatic transmission, but if yours is check the owner’s manual to on how to check the Automatic Transmission Fluid (ATF) levels. It might be difficult to check the transmission fluid if it is manual. You can have it checked or if you are a DIY enthusiast, you can crawl under the car and look for yourself by removing the fill plug.
    For optimum performance, the coolant should be changed at least once a year.
    It is important to top off the power -steering fluid which is often overlooked in the regular servicing.

  • Windshield Wipers

    If you are using the same wipers for the past 1 year, get them changed. A dirty windshield poses a safety hazard during monsoons. Keep enough windshield washer solvent As they say, wipers are cheap insurance.

  • Paint

    Rainwater affects car paint adversely. A good session of washing and waxing will do much good for your paint to survive monsoons. During monsoons, whenever possible, park the car under a roof.

There are other little things you need to pay attention to. Check your lights and get the minor repairs done. Never forget a car emergency-kit.

Let’s face it: the last thing you would want is a car breakdown on water-clogged roads. These precautions will save you from the distress of monsoon breakdowns.

Read more about All you need to know about car insurance

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Should I buy term insurance riders?

For a long time now, term insurance plans, policies that offer death benefits to the nominee, have been the traditional instrument we buy to financially protect our families from the risks of an uncertain future. In recent times, considering the increase in the average life span as well as the growing number of physical and financial risks, most insurance companies are offering various add-ons or riders that supplement the coverage offered by term insurance plans.

Read Why Term Insurance Plans are an Absolute Buy

Accidental Death Benefit

An accidental death is difficult for those left behind; and the difficulties multiply if there are financial obligations to be met post the loved one’s death. A basic term plan gives out the sum assured by the policy; however an accidental death benefit rider makes an extra sum available to your family. Since this rider is only for accidental death, you should opt for it if you are in a profession that is more prone to hazards. Otherwise, a normal term plan would suffice, as it pays a sum assured even if death is not due to accidents.

Partial/Full Disability

Any incident leading to disability, be it partial or complete, not only affects you physically and emotionally, but also can drain your financial resources, specially if it leads to a loss of income. A disability rider offers financial support in such cases. However, it’s important to note that the rider offers limited coverage. A standalone Disability Insurance Cover is much more comprehensive, though it costs more.

Premium Waiver

Whereas normally a term plan has to be surrendered if you can not pay the premium, the premium waiver rider allows the policy to continue. If there is a chance that you may not be able to pay the insurance premiums in the future due to loss of income or a disability, a premium waiver rider is necessary. If you have a guaranteed steady income and do not envisage a loss of income, this rider is not needed for you.

Battle Critical Illnesses

A critical illness can be a major strain on your finances, considering that medical expenses are exorbitant for all such diseases. A critical illness rider in such circumstances mitigates the financial burden with a lump sum payment if you are diagnosed with one of the illnesses listed on the policy document. The catch here is, the sum assured for critical illness is linked to the term plan’s sum assured, and there are just a handful of illnesses covered in the rider. A separate critical illness policy, on the other hand, covers a  whole range of critical illnesses and also offers more flexibility in terms of the sum assured. Hence, it makes more sense to buy a standalone critical illness policy.

Income Benefit

A term plan will provide death benefits to the nominee in the form of a lump sum pay-out. If you have dependents who will need a regular income to meet their day-to-day living and do not have any other source of income, then an income benefit rider will help your nominee get a supplementary income in addition to the sum assured. Buying this rider might result in a slightly higher premium, but the benefits far outweigh this extra cost.

The Impact on Premiums

Just as you pay a premium for the term insurance, you need to pay an add-on amount for each rider you buy. The more riders you take, the higher the total premium. Hence, you need to think about the riders you might need in the future and weigh the advantages against the premium to be paid for them, before making a final decision of buying a term insurance plan.

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

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5 safety features in your car you didn’t know about

The Ministry of Road Transport and Highways released a report in June 2016 for road accidents in India. According to the statistics, Tamil Nadu reported the highest number of accidents at 69, 059 cases. Mumbai was the top city in registering accidents at 23, 468. Well, the numbers are not surprising. Whether it is the fast lifestyle or the thrill of speed, road accidents have grown in recent years. Whenever you open the newspaper you would find an accident case staring back at you. Sad, yet true!

While road accidents are increasing, are you, as an aware individual doing your bit to reduce them?

People world over adopt various techniques to reduce the probability of accidents. A very popular concept in Netherlands is Dutch Reach which is practiced by everyone. The Dutch Reach is nothing complicated but a safety habit adopted by the people of Netherlands. According to this habit, the driver reaches out to open the car using the hand which is farther from the door. For instance, if you are sitting on the left seat of your car you should use your right hand to open the door to get out of the car. When you do that, you have to turn around the door for opening it. When you turn around, you can see any passing vehicle and prevent your car door from ramming into any incoming vehicle. This practice thus helps you in avoiding accidents.

Car manufacturers also promote safe driving habits and provide some inbuilt safety features in their cars. Here are 5 such safety features found in many cars.

  1. Detachable headrests

Did you know that car manufacturers keep the car’s headrest detachable on purpose? Yes, the headrests are detachable and the spikes at the end are sharp. Moreover, the window glasses are weaker on the inside than on the outside. So, in case of any emergency, you can detach the headrests and use the sharp spikes to break open your window. You can thus, get out of your car in emergencies and easily save yourself.

Also, remember to keep these 10 items to Build your Car Emergency Kit

  1. Airbags for passengers

While you knew that cars give airbags for the driver and the co-passenger did you know that airbags were also offered for passengers seated at the back? Car manufacturers are building airbags for the backseats as well and are selling their cars on this USP. Moreover, if you want, you can also opt for airbags in the doors as well to protect your torso in case of a collision. Cool, isn’t it?

  1. Hassle-free gear change

Automatic cars are replacing the traditional clutch and gear cars where you are required to frequently change gears. Newer models are increasingly being offered as automatic cars thus reducing the hassles of shifting gears. In automatic cars there are only three gear settings – forward, neutral and reverse. You are free from changing gears depending on acceleration or deceleration. In fact, many cars are also offering dials for gears. Beat that!

  1. Child lock

While you may have heard about central locking system where the switches at the driver’s side locks all doors and windows, have you heard about child lock? Child locking is a facility wherein the doors and windows are locked and cannot be opened from the inside. You can open the doors only from the outside. This feature is very helpful if you have children travelling with you. As the doors and windows are locked, a child cannot accidently open the doors when travelling and can avoid becoming a victim to accidents.

  1. Parking assist

This feature is commonly present in most cars nowadays. This feature helps you park. There is a rear camera and a collision warning. Moreover, the park assist feature also tells you the safe distance from the curb or the next object which can hit your car’s rear end. Thus, the feature helps you in parking your vehicle safely and correctly.

Were you aware of these features? Car manufacturers are doing their bit to make their cars safer, what about you?

In fact, a feature which is present in international cars, but lacking in their Indian counterparts is Electronic Stability Control. This feature helps your car to stay in control on the road and not swerve uncontrollably. Though Indian cars don’t have this feature currently, they might in the future. Meanwhile you can adopt some safety etiquettes when driving your car and install the above-mentioned safety features. Alternatively, you can also go with a good car insurance policy. After all, prevention is better than cure, isn’t it?

Read more about All you need to know about car insurance

Read more about Benefits of purchasing your car insurance online

Read more about Anatomy of car insurance

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5 tricks to get the best quote for bike insurance

A bike insurance policy is a mandatory requirement and if you have a bike which you love, you must know this fact. The Motor Vehicles Act, 1988, directs that every two-wheeler (or any other vehicle for that matter) should have a valid third party insurance policy. This policy protects you against any legal liability which arises when you cause harm to any third party or property. However, the policy does not cover losses suffered by you or your bike. That is why, a comprehensive bike insurance policy, which also covers your losses, is preferred.

Comprehensive bike insurance policies are dearer than third party covers because they have a wider scope of coverage. So, should you avoid comprehensive insurance plans? Absolutely not! You could, alternatively, avail the best quote for your comprehensive bike insurance policies. Do you know how? No? Don’t worry. The following 5 tips tell you how:

#1 Use your accumulated No Claim Bonus (NCB)

Your bike insurance policy offers you a reward if you do not make a claim in any policy year. You get a No Claim Bonus (NCB) which discounts your renewal premium when your policy is renewed next year. This NCB discount is progressive in nature and for every consecutive claim-free year the discount increases. This NCB discount starts from 20% and goes as high as 50% if you don’t make claim for 5 consecutive years. Who doesn’t love a flat 50% discount? To get the best quote, use your NCB when you renew your bike insurance policy and enjoy premium discounts.

Read more about tips on how to earn No Claim Bonus

#2 Be wise when choosing add-on covers

Your bike insurance policy also offers you additional riders which can be added to your comprehensive plan to enhance the scope of coverage. Though these riders enhance the coverage, they also require additional premiums. So, if you are looking to opt for add-ons, be wise. Choose only those riders which are necessary. Some popular add-ons include roadside assistance, zero depreciation benefit, return to invoice, etc.

Read more about two wheeler insurance plan’s add-ons

#3 Renew your bike insurance policy on time

Bike insurance policies are offered for 1-3 years after which they need renewals. If you delay renewing your bike insurance policy on time, you stand to pay a higher premium. You would be out of time due to which you wouldn’t be able to compare various policies and select the best quote. Moreover, if your bike insurance policy has lapsed, the resultant premium on renewal would be higher. So, be zealous with your bike insurance renewals. Renew the policy on time to get the best quote.

Read more about Why long term two wheeler insurance is such a great idea

#4 Maintain a good driving record

When you drive safe you face lesser accidents and have a good driving record. Lesser accidents also lead to lesser claims. If you do not have many claims in your bike insurance policy, your NCB would be the highest. Moreover, the insurance company would also understand that you present a lower risk. Both these factors would reduce your bike insurance premium so that you can get the best quote.

#5 Compare before you buy

Are you aware of the number of bike insurance policies available in the market today? There are more than a dozen and each policy promises the best coverage features. To get the best policy with the best premium quotes, you should always compare the available policies before you zero in on one. To compare easily you should use the online medium. There are many web aggregators and online brokers which promise the ease of comparison across different policies. Online brokers are better as they provide you with specialized technical assistance both at the time of buying the policy and also at the time of claim. So, visit an online broker, compare between different bike insurance plans and buy one which has the best features along with the best premium quote.

Don’t compromise on the coverage for the sake of lowering your premiums. Buy a comprehensive bike insurance policy and enjoy wider coverage for your bike and yourself too. If you are worried about the higher premiums, relax. The above-mentioned tricks help in lowering the premium and promise you the best deal on your bike insurance policy. So, arm yourself with these simple tricks and find yourself the best bike insurance quote from Trutlemint.

Are you buying two wheeler for the first time? Know about two wheeler policy insurance policy

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3 ways you can be fooled while buying life insurance

Anil was thinking of investing in a life insurance policy but didn’t know where to buy it from. His neighbor was a life insurance agent while he was getting frequent calls from a broker’s company for a policy too. His friend advised him to try the online medium for cheaper premium rates. While his neighbor promised him good advice, the broker offered him expert knowledge and the online platform offered him cheaper rates. He was confused. Do you, too, find yourself in this confusion?

You can also read Reasons to buy a Life Insurance Policy Now

Life insurance is a technical concept. When buying a policy, you might be fooled if you do not have the required knowledge. Whether it is agents, brokers or the online marketplace, buying insurance is fraught with traps. If not tread carefully, you might fall into one. Let us see how you can be fooled when buying a life insurance policy from different sources or channels:


Agents represent only one insurance company. If your agent is known to you, the problem of policy renewal is solved as the agent would remind you of your renewals. Thus, you can avail the continuity benefits of your insurance policy when you buy from an agent. However, even your agent can fool you on the following aspects of your life insurance policy.

  • Agents don’t tell you the drawbacks of the plan

Agents want to sell you insurance. As such, they skip out the possible drawbacks of the plan. Though the benefits are highlighted, the shortcomings are kept in the dark so that you buy the policy.

  • Suitability of the plan

Agents are more concerned in selling you a life insurance policy which promises them the highest commission income. As such, they often overlook the fact that a life insurance policy should be first matched with your requirement to assess its suitability. For instance, if you were an unmarried individual, you wouldn’t be requiring a child insurance plan as yet.

  • Plan exclusions

While many agents help you in understanding the plan benefits, what they never mention is the plan’s exclusion list. For instance, no life insurance policy pays the Sum Assured in case of suicide committed within the first year of buying or reviving the policy. Ensure you clarify such clauses with your agent before you buy a policy.

  • The importance of filling up the form yourself

Your life insurance proposal should be filled in by you after understanding the details asked. If you fill the form yourself, you would provide correct personal, medical and financial information asked in the form. If your agent does not tell you the importance of filling this form yourself, you might take for granted; the correctness of the information provided and hence may be fooled in case there is an error. Hence, although you may take help, it is advisable to fill your proposal form yourself so that your family does not face any difficulty later during claim.


Banks, Non-Banking Financial Corporations (NBFCs) and other privately owned companies might act as life insurance brokers selling you insurance plans of different companies. While they have expert knowledge, here’s where you can be fooled when buying a plan from brokers:

  • Advantages and disadvantages of the policy

While these brokers and NBFCs might tout the different benefits promised by the policy, they skip out on the disadvantages. Even in case of advantages, you might not get a clear picture. You might not understand how the advantages are relevant with your investment planning requirement and fall for a wrong insurance plan.

  • Tenure

Life insurance plans usually come with a long-term perspective. Brokers, when selling the insurance plan, may highlight the returns, which you can yield over a shorter tenure. You might, thus, be mis-informed on the correct tenure of your plan.

  • Continuity benefits

When buying from brokers, you usually get service only when buying the policy. In subsequent years, the brokers might not have a long-standing relationship with you and as a result your insurance policy might lapse. In case of lapse, you lose out on the major benefits. Though your policy might continue (if at least 2/3 years’ premiums have been paid) or can be revived, you might suffer financial loss with respect to the value received.


The online medium of buying insurance policies is also gaining momentum. You can buy the policy directly online and also save on your premiums. Though buying the policy online is easy, watch out for these pointers:

  • Availability of too much information might let you skip it altogether

When you buy online, you get all the information of the policy online. As life insurance is a technical product understanding all the available information for you, a layman, might be difficult. Hence, you might skip to understand the same and fall for any policy that the assisting agent recommends.  Why be ignorant when you have all the information at hand? Be insurance smart and buy the best-suited policy for you!

  • Drawbacks and exclusions of the plan may not be listed

Like agents and brokers, the online platforms too may not list the plan’s drawbacks or exclusions. Thus, if do not compare the plans or understand a plan well, you might end up buying a plan, which has more drawbacks than benefits.

  • The trap of publicity of insurance plans

Though all insurance plans are beneficial, they might not be suitable for your requirement. You might find a plan highly publicized on the online platform. Lured by the publicity, you might fall prey to such plans without considering their usefulness and applicability.


As mentioned, there are many pitfalls when buying a life insurance policy, whether you do it online, through an agent or through brokers. All you can do to avoid being fooled is to remain alert and act smart. Know everything about the policy before you commit your money to it and avoid being trapped in a plan. You can visit the term life page on our website and buy a plan that you find most suitable for you.

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

Read more about Common terms in life insurance policies

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

5 long-drive destinations from Mumbai

After a hectic week, quality time with loved ones is what you always yearn for. What better rejuvenation for the mind, body and soul, than a long drive closer to nature and away from the bustling city! Long drives are a fun way for family bonding or adventures with friends. You may have already driven to some popular destinations around Mumbai, like Lonavla, Alibaug or Lavasa. Let’s look at 5 unusual but enjoyable getaways from Mumbai that you can go to without a long weekend.

  1. Bordi
    Bordi is a beachside on the Dahanu stretch. It is one of the cleanest yet lesser known beaches in the Konkan area. The route from Dahanu to Bordi is a pleasant drive of about 20 km, with beach at one side and row houses on the other. Bordi is just a 3.5-hour drive from Mumbai. It will be advisable to early in the morning and reach before noon. Here’s an extensive list of things you can do at Bordi: https://www.maharashtratourism.gov.in/treasures/beach/bordi-dahanu
  1. Kolad
    117 Kms from Mumbai, the Kolad village lies on the banks of river Kundalika. Kolad is famous for the water-sports and has beautiful spots for a nature lover. Kolad hosts scenic dams like the Bhira Dam, Kolad Dam and also the Sutarwadi Lake which will be perfect to beat the summer heat! Don’t forget to carry your sunglasses and a cap though.
    For an extended stay, here’s an detailed guide: https://www.holidify.com/places/kolad/
  1. Murud
    A little ahead of Alibaug, lays the beach-side village Murud. It is a little less crowded than the Alibaug beach and is a hub of water-sports. Murud houses the forts Murud-Janjira, Kasa and Korlai. One of the main attractions here is the Phansad Wild-life sanctuary that hosts a rich part of the coastal woodland ecosystem of the Western Ghats. If you are in the mood for a quick adventure, this can be a one day trip with around 3.5 hours of driving time each side.
  2. Bhandardara
    Bhandardara is home to the highest peak in the Sahyadris – Mount Kalsubai. The Bhandardara Lake is surrounded by trekking ranges and trekkers prefer to camp out near the lake. The area is so full of greenery, the views of all places around it are breath-taking. It is recommended that you leave in the evening for a little over 3-hour drive, camp out near the lake and return in the evening. You can also try the Fireflies camp.
  3. Kamshet
    A short 2-hour drive from Mumbai, Kamshet is the ideal place if you are willing to get experiential. It is home to many small villages that are built traditionally with mud, thatch and reeds. A drive to Kamshet will satiate your desire for a village experience. There are many caves, temples and lakes to visit in Kamshet. For the adventurous ones, Kamshet is a fantastic paragliding spot.

If you are planning for an adventurous trip, here is a video you must watch to know about travel insurance policy coverage:

A smooth long drive is also a good exercise to keep your car in top condition. Many weekend getaways and long drive destinations from Mumbai are towards the interiors of Maharashtra and you will need the car to be in a pretty safe state. Don’t let car-breakdowns ruin your fun-time. Fuel up your car and check the inflation. Always have a good to use spare tyre. Keep your cellphone charged and whichever route you take, remember to take down the helpline number. Carry all your car documents including the car insurance.

Read more about 10 items to build your car emergency kit

Read more about 5 safety features in your car you didnt know about

Read more about Anatomy of car insurance

Are there any locations that you think should be a part of this list? Comment below and let us know!