Are There Any Add-Ons Possible With A Third-Party Bike Insurance Plan?

Just like toppings on a pizza that comes at an additional cost enhance the taste, add-ons on an insurance policy enhance the coverage but cost slightly more. The industry offers quite a few add-ons with your bike insurance policy as well. However, you need to know them all to be able to choose what suits your requirements the best!

Types of bike insurance plans in India

All bikes registered in India are mandated to hold at least a standard third–party insurance plan under the Motor Vehicles Act, 1988. Third-party insurance is the most basic form of coverage and hence is quite economical. Third-party bike insurance will cover only the liabilities or claims by the counterparty (third-party), property or vehicle in the unfortunate event of an accident.

Know more about Third-Party Bike Insurance.

On the other hand, comprehensive coverage will offer complete coverage, protecting you from a potential financial stress/burden arising from any unfortunate accident. It covers third-party legal liabilities and your own damage to your bike. Also, a comprehensive bike insurance plan can be enhanced with add-ons which can help you achieve the desired coverage for your vehicle and/or any other potential damage.

Know more about Comprehensive Bike Insurance Plans.

Thus, add-ons are benefits available to a comprehensive plan to enhance your coverage, which is not available to a third party only bike insurance plans!

Reasons to opt for add-on coverage:

The following benefits are extended by opting for add-on covers:

  • Coverage for fiscal liabilities on the loss of a two-wheeler due to theft
  • Death benefit and disability benefit for both rider and pillion due to an accident
  • Coverage for 24*7 roadside assistance in case you are stranded in the middle of nowhere
  • Coverage for depreciation of the vehicle
  • No claim bonus benefits 
  • Claims against most types of damages in the event of accident, theft etc.,

Clearly, a complete hedge against any possible untoward event is sought by availing of add-on coverage. This potentially avoids financial stress where one may have to make any out-of-pocket expenses.

Can third-party bike insurance plans have add-ons?

Third-party bike insurance plans are basic plans which give you the licence to ride your bike on the Indian roads so that in case you meet with an accident, your legal liabilities are taken care of by the insurance policy.

But, add-ons are not allowed on a Third-Party only Bike Insurance plan except for Personal Accident cover.

Additional Options in a third-party two-wheeler insurance plan:

The only options available in a third-party only bike insurance plan are:

  1. Long-term plans:

    For 2 or 3 years instead of 1 year, so that you do not have the hassle of renewing your bike insurance plan every year!

  2. Personal Accident plans:

    The government has mandated a minimum of Rs 15 lakhs of personal accident coverage for every individual who rides a bike in India. Under this cover, if you meet with a bike accident, you or your family would receive compensation for accidental death, disability or dismemberment from the MACT (Motor Accident Claim Tribunal).

    However, the personal accident cover is person-specific and not vehicle specific. This means, if you already have a personal accidental plan, either standalone or with any other vehicle, you need not purchase it with your third-party bike insurance plan.

    However, for Personal Accidental Add-on cover for your bike, you can receive the following benefits:

    1. In the case of Accidental Death, 100% of the compensation would be payable,
    2. In the case of Permanent Disability, 100% of the compensation would be payable,
    3. In case of any Partial Disability such as loss of one limb or one eye, only 50% of the compensation would be payable,
    4. In case of any Partial Disability such as loss of two limbs or two eyes or one limb and one eye, 100% of the compensation would be payable.

    Exclusions of Personal Accidental Add-on cover for your bike:

    Claim would not be payable for personal accidents under the following circumstances, such as:

    1. Driving under the influence of alcohol or any other intoxicating substances
    2. The deliberate action of breaking the law
    3. Not following the basic legal protocols or riding a bike such as not wearing a helmet, etc.
    4. Accident outside the specified geographical area of the coverage of the insurance plan.

List of add-on covers that one can avail of with Comprehensive Bike Insurance Plans:

However, if you opt for a comprehensive bike insurance plan, you can avail of a number of add-ons to enhance your bike insurance policy such as:

  1. Key loss coverage

    It is not uncommon to lose your two-wheeler key, despite having a spare key, there are times when all of them are lost. This add-on covers the cost of purchasing a new key.

  2. Roadside assistance cover

    If you have a vehicle, you may have experienced the anxiety of being stranded in the middle of nowhere. Often without any assistance around such a place, today bike insurance plans have realised the importance of offering coverage for this aspect. Round-the-clock roadside assistance is extended under this add-on, thereby relieving the stress of the rider from being stranded in a place where immediate assistance is not available.

    So, if you need coverage for your off-roading adventure or biking expeditions, you might find this add-on handy!

  3. Passenger assistance cover

    This add-on offers death and disability coverage for riders and pillions. This is a relatively expensive add-on, for typically the quantum of money insured is higher than the other items. Thus, this is important only if you have pillion riders.

  4. Daily allowance cover

    In the event, your two-wheeler is lost or severely damaged rendering you to look for alternate transportation means, this add-on comes into play. There is a daily allowance offered to cater to your transportation expenses.<.p>

  5. Zero-depreciation cover

    The repairs or replacements are covered by the insurer under this add-on benefit. This add-on will ensure that entire expenses towards repair and replacement can be claimed without the deduction of any natural depreciation on your vehicle’s parts.

    This is one of the most important and widely used add-ons so that you get the full value of your claim without depreciation on the parts.

  6. Return to invoice cover

    In the event, the bike is completely damaged without any option of being salvaged, the invoice price will be paid. The invoice price is typically higher than the IDV which is adjusted for depreciation. With this coverage, you will be able to avail a new bike, thus carrying on with your life without any disruptions. If you often park your bike on the road, you might want to opt for this add-on!

  7. Engine protection cover

    There are many regions which have seasonal waterlogging issues, there may be instances of oil leakage which lead to damage to the engine. This calls for an engine replacement. Under this add-on, any engine repair or replacement will be covered.

    If you happen to stay in an area prone to very heavy rainfall with waterlogging issues or flood-prone areas, you might want to add this.

  8. Consumable cover

    Two-wheeler is subject to periodic overhaul, often there are costs incurred towards change in the oil filter, engine oil, nuts and bolts. These consumables are not covered under any of the two-wheeler insurance plans. By availing of this additional cover, one can overhaul the bike as needed without any out-of-pocket expense.

  9. NCB protection cover

    No claim bonus (NCB) is extended as a sizable discount on the premiums applicable for the renewal of the policy. Often, under the regular/basic plan, even if there is a single instance of claim against your insurance plan, you will be disqualified from availing of the no-claim bonus.

    The NCB protection cover ensures that you are not disqualified from NCB benefits despite making claims during the year. 

Ideally, you should opt for a Comprehensive Bike Insurance Plan which also protects against damages on your own bike. With the increasing costs associated with bike overhaul and frequent instances of accidents, there is a need for Bike Insurance with such add-on coverages, which will ensure that you have comprehensive coverage.

However, if you still choose to opt for a Third-Party Only Bike Insurance Plan, you can add personal accidental coverage to enhance the benefits and be legally safe.

DISCLAIMER
This article is issued in the general public interest and is for educational purposes only. The blogs should not be used as a substitute for competent expert advice from a licensed professional to best suit your needs. 

Important Things Every Smoker Should Know About Life Insurance

Smoking or consumption of tobacco can affect the cost of your life insurance and harm your health. If you are a smoker and evaluating opting for life insurance, here are things you should keep in mind before choosing the right life insurance for yourself. 

  1. Who is considered a smoker?

    Anyone who smokes cigarettes, tobacco, hookah, pipes, e-cigarettes, vapes, snuffs, nicotine patches, etc. is considered a “smoker” according to the insurance underwriters.

  2. How is smoking correlated with life insurance?

    There is enough medical evidence to suggest that smoking has been one of the leading reasons of certain life-threatening diseases like certain types of cancer, tuberculosis, heart diseases etc., It is less surprising that as per the underwriting rules smoking habits influence the policy premium rates. It ranks among the top factors which influence the premium rates of life insurance. 

  3. How much does smoking influence the premiums of life insurance?

    By providing insurance to a smoker, the insurer is assuming a greater risk as compared to extending similar insurance to a non-smoker. Hence, the premiums for a smoker can cost you 40% to 100% more than that of non-smokers, based on a thorough evaluation of your health history.

    In effect, an average cost of the premium for a 30-year-old non-smoker with earning capacity of less than Rs. 15 lakh may end up paying a premium of approximately Rs.15,000 to Rs 20,000 for a coverage of 1 CR Term Insurance Plan while a smoker of the same profile would have a premium of approximately Rs 24,000 to Rs 30,000 across various plans.

    Calculate your Life Insurance Premium here.

  4. Does the life insurance policy distinguish between an occasional smoker and a regular smoker?

    It does not distinguish between the type of smoker, the general understanding is that an occasional smoker can become a regular smoker or a chain smoker over time. It merely distinguishes a smoker and a non-smoker and does not deep dive into details. Often, some individuals live in denial regarding their addiction to smoking, they may often be regular smokers but may tag themselves as occasional smokers. 

  5. What if you try to hide the fact that you are a smoker in your application?

    The cardinal rule whilst availing of life insurance is to ensure that you make honest declarations in your application. Every aspect of your application should be written with utmost honesty and integrity. Hiding any fact or lying in your application can lead to claim rejection. In case your death occurs due to a smoking-related complication such as a heart attack etc., there is an investigation initiated by the insurance company to establish the authenticity of your claim.

    In case, the insurance company learns that you have been a smoker and in the application, you have declared otherwise, the death benefit will be denied to your family/beneficiaries. This could put them under severe financial stress.

    However, if the sum assured requires a medical examination, then you will have to give a urine sample which will be tested for nicotine, irrespective of whether you have declared yourself as a smoker or non-smoker. The medical result would indicate if you have lied in your application, this could lead to rejection of the insurance policy.

  6. What if you start smoking after you have taken your life insurance policy?

    In this case, your life insurance premium would not change provided you were a non-smoker at the time of opting for the plan. However, insurers have multiple ways to find out if you have been a smoker and for how long you have been smoking through doctor’s prescriptions, lung test reports, medicines bought in the past, social media, etc.

So, if you are an “occasional” smoker as well, you need to declare the same at the time of your policy inception to avoid denial of the claim. You will be considered a non-smoker only if you have completely quit for a minimum of 12 to 24 months.

From this note it is apparent that it benefits to quit smoking, not only will your health improve drastically, but you will also end up paying lower premiums on your life insurance. Take a step towards better health today!

DISCLAIMER
This article is issued in the general public interest and is for educational purposes only. The blogs should not be used as a substitute for competent expert advice from a licensed professional to best suit your needs. 

Did you know these Taxation facts about your Insurance policies?

Insurance is popular not only for its benefits but also for its tax-saving nature. Whether you buy life insurance or health insurance you get tax savings on both. In fact, in a life insurance policy, even the surrender value is tax-free in your hands. However, when it comes to taxation, there are certain rules which should be kept in mind. For health insurance plans there are limits up to which you can claim a tax exemption. Furthermore, for the surrender value of a life insurance policy, there are certain conditions that, if fulfilled, will result in tax relief. Let’s explore these tax facts of your health and life insurance plans –

Tax benefit for health insurance:

Premiums paid for a health insurance policy qualify for tax exemption under Section 80D of the Income Tax Act. The maximum exemption which you can claim for the premiums paid is up to INR 1 lakh. You can also claim upto INR 5000 of the limit for preventive health check up.

Here’s how –

Members covered

Deduction limit

Total deduction available

Self, spouse, dependent children when you are less than 60 years old

INR 25,000

INR 25,000

Self, spouse, dependent children when you or your spouse is 60 years or more

INR 50,000

INR 50,000

Self, spouse, dependent children when you are less than 60 years old

And,

Dependent parents when they below 60 years of age

INR 25,000

 

 

+

INR 25,000

INR 50,000

Self, spouse, dependent children when you are less than 60 years old

And,

Dependent parents one or both of whom are aged 60 years or above

INR 25,000

 

 

+

INR 50,000

INR 75,000

Self, spouse, dependent children when you are 60 years or above

And,

Dependent parents one or both of whom are above 60 years

INR 50,000

 

 

+

INR 50,000

INR 1 lakh

So, if you and your dependent parents are both senior citizens and you pay premiums for the coverage of your dependent parents too, you can claim a maximum tax exemption of INR 1 lakh in one year.

Tax benefit for life insurance 

In the case of life insurance policies, there are different tax-saving stages that you should know about. So, let’s assess the tax-saving benefits of each stage in detail –

Tax benefit on the premium paid for a life insurance policy

The premium that you pay for a life insurance policy is allowed as a deduction from taxable income. This deduction is allowed under Section 80C of the Income Tax Act, 1961. The limit of deduction that you can claim is lowest of the following – 

  • The actual amount of premium paid
  • 10% of the sum assured
  • INR 1.5 lakhs

Here are some examples to help you understand the tax benefit that you can claim on the premium paid – 

Case 1

Case 2

Case 3

Sum assured – Rs.10 lakhs

Premium paid – Rs.75,000

Sum assured – Rs.10 lakhs

Premium paid – Rs.1 lakhs

Sum assured – Rs.10 lakhs

Premium paid – Rs.2 lakhs

Tax deduction available would be lowest of the following –

  • Actual premium – Rs.75,000
  • 10% of the sum assured – Rs.1 lakh
  • Rs.1.5 lakhs

Tax benefit available – Rs.75,000

Tax deduction available would be lowest of the following –

  • Actual premium – Rs.1 lakh
  • 10% of the sum assured – Rs.1 lakh
  • Rs.1.5 lakhs

Tax benefit available – Rs.1 lakh

Tax deduction available would be lowest of the following –

  • Actual premium – Rs.2 lakhs
  • 10% of the sum assured – Rs.1 lakh
  • Rs.1.5 lakhs

Tax benefit available – Rs.1 lakh

So, in other words, the actual premium paid is allowed as tax deduction provided it is up to 10% of the sum assured. The maximum limit allowed under Section 80C, however, is limited to Rs.1.5 lakhs.

If you buy a pension plan, the same tax benefit is allowed on the premium that you pay. However, the tax benefit section changes from 80C to 80CCC.

Tax benefit on the death benefit received from a life insurance policy:

The death benefit received from a life insurance policy is always allowed as a tax-free income, irrespective of the premium amount.

Tax benefit on the maturity benefit received from a life insurance policy:

The maturity benefit received from a life insurance policy, except a pension plan, including any bonus additions, guaranteed additions, loyalty additions, etc., is tax-free under Section 10(10D). This tax benefit is available only if your premium is up to 10% of the sum assured. If the premium exceeds 10% of the sum assured, the maturity benefit would become fully taxable in your hands.

In the case of unit-linked insurance plans, if the aggregate premium paid for all unit-linked policies in your name is up to Rs.2.5 lakhs in a financial year, the maturity benefit would be tax-free. Here also, the premium should be within 10% of the sum assured to avail of the tax benefit. 

If, however, the aggregate premium exceeds Rs.2.5 lakhs, the maturity benefit would become taxable. The maturity benefit would attract equity or debt tax, like a mutual fund scheme, depending on the fund that you selected when investing your premium. Here’s how –

  • If you invested in an equity fund, the returns earned from the unit-linked policy, i.e. the maturity proceeds less the aggregate premium paid, would be tax-free up to INR 1 lakh. If, however, the returns exceed INR 1 lakh, the excess returns would be taxed at 10%. 

    For example, say you invest INR 3 lakhs every year in a 10-year ULIP. On maturity, you receive INR 40 lakhs as the maturity benefit. The return earned from the policy is INR 40 lakhs (maturity benefit) – INR 30 lakhs (total premium paid) = INR 10 lakhs.

    This return exceeds INR 1 lakh by INR 9 lakhs. This excess return would, thus, be taxed at 10% and your tax liability would be INR 90,000. If, however, the premium was limited to INR 2.5 lakhs, the entire maturity amount would have been tax-free in your hands.

  • If you invest in a debt fund, the returns earned would be taxed at 20% with indexation benefit. This indexation benefit adjusts the returns with inflation and brings down your tax liability. 

Tax benefit on the maturity proceeds of an annuity policy

In the case of pension plans, the annuity that you receive is taxable at your income tax slab rates. However, in the case of deferred pension plans, there are tax benefits on maturity.

On maturity, the deferred pension policy allows you to withdraw up to 60% of the accumulated corpus in a lump sum. This is called the commutation of pension. If you opt for the commutation, you get tax benefits on the money withdrawn. Up to 1/3rd part of the corpus that you commute is allowed as a tax-free income in your hands. The remaining corpus that you withdraw, however, would be taxed at your income tax slab rates.

Tax benefit on the surrender value of a life insurance policy

If you surrender your life insurance policy and avail of the surrender value, the value can be claimed as a tax-free income. However, to avail of this tax exemption, you have to fulfill the following conditions –

  • For your single premium policies, if you surrender the policy after the first two years of buying the plan, the surrender value you receive is tax-free.
  • If you have a regular premium plan, the surrender value is tax-free only if you have paid the premiums for the policy for at least 2 full years.
  • In the case of Unit Linked Plans, the surrender value becomes tax-free only if the policy is surrendered after 5 years.
  • For your pension plans, the surrender value is always taxable. It is taxed at your income tax slab rate in the year in which you receive the value.

So, if you want to surrender your life insurance policy, find out the type of policy you have. Then determine whether the qualifying conditions have been fulfilled so that you can receive the surrender value without any tax implication.

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

Tax is a complicated subject where there are various qualifying conditions and limiting amounts. Even though your life and health insurance plans promise you tax benefits you should read the fine print of availing of this tax benefit. You would not be in for a surprise when you know the tax relief you would get, right?

Turtlemint helps you in buying the best life insurance policy and health insurance policies. It also helps you with your queries regarding the tax aspect of these plans. So, if you are planning on investing in life insurance, health insurance, or both, come to Turtlemint. You would be surprised by the experience you get.

Pros and Cons of Family Floater Plan or Individual Policy

When it comes to health insurance policies, there are two variants that you can choose from – individual policy and family floater policy. Both these policies allow coverage to family members but the way the coverage is provided is different. This creates a major difference between the policies and gives rise to the merits and demerits of both. 

Let’s understand these policies in detail and their respective pros and cons –

What is an individual health insurance policy?

An individual health insurance policy is one that covers one individual under the plan. The insured member is covered up to the sum insured independently and can make claims up to the coverage limit. The premium depends on the age of the insured member.

What is a family floater policy?

A family floater policy is one that covers different members of the family under a single policy. The policy has one sum insured and it is shared between the insured members. Each member can avail coverage up to the sum insured. However, if one member makes a claim, the sum insured is used up. Thereafter, if another member makes another claim within the same policy year, the unused sum insured would be available. For example, say four members are covered under the policy and the sum insured is Rs.10 lakhs. If one member makes a claim of Rs.6 lakhs, other members can make a claim up to Rs.4 lakhs only.

The premium of the family floater policy depends on the age of the eldest member.

Difference between individual and family floater policy

Here are some of the main differences between individual and family floater policies –

Individual policies

Family floater policies 

Single sum insured for a single individual

Single sum insured shared between all the family members on a floater basis

The individual can make a claim up to the sum insured

Any insured member can make a claim up to the sum insured. However, if one member makes a claim, the sum insured gets used up. If another member makes a subsequent claim in the same year, the coverage level is reduced by the amount already paid as claim

The premium depends on the age of the insured member

The premium depends on the age of the eldest member

If the insured member does not make a claim in a policy year, a no claim bonus is awarded

If any insured member of the family does not make a claim in the policy year, a no claim bonus is awarded. However, if any one member makes a claim, the bonus becomes invalid

Pros and cons of individual and family floater plans

Now that you know the difference between these two types of health insurance plans, here’s a look at their respective pros and cons –

Individual health insurance 

  • Pros 
    • You have complete control over the policy
    • You can avail of the coverage benefit that you need
    • If you don’t make any claim, you get the benefit of a no claim bonus
    • Lifelong renewals are available if you renew the policy every year
    • If you buy individual plans for every family member, their claim experience would not impact your coverage
  • Cons
    • If you are insuring multiple members of the family under independent individual plans, the collective premium would be high. This might prove to be unaffordable
    • Since the premium is higher, you might not be able to avail of an optimal sum insured 
    • Managing individual policies for each member might prove challenging

Family floater health insurance 

  • Pros 
    • All the family members get covered under a single plan. This is convenient and also easy to manage
    • The premium is cheaper compared to individual health plans for each family member
    • Every member can enjoy coverage up to the sum insured of the policy
  • Cons
    • The coverage for a member would be reduced if there had been a prior claim by another member
    • If any one member makes a claim, you lose out on the no-claim bonus
    • Dependent children are allowed coverage only up to 23 or 25 years of age

Which one should you opt for?

Both individual and family floater plans have their respective pros and cons. The choice of a suitable policy depends on your coverage needs. A family floater policy makes sense if –

  • You are a young family
  • You need to cover yourself, your spouse, and dependent children

On the other hand if you want an independent policy for yourself you can opt for an individual health insurance policy.

Moreover, dependent parents should not be covered under a family floater plan, ideally. This is because their addition would rack up the premium since their age would be considered for premium calculation. Moreover, they might make frequent claims on the policy which would hamper the no claim bonus. So, you can opt for a family floater policy for self, spouse, and children and another policy for your dependent parents for their coverage needs. This would provide optimal coverage as well as an additional tax benefit on the premium paid for your parents’ plan.

So, understand what individual and family floater policies are all about and know their pros and cons. Assess your coverage needs and then choose a suitable policy that provides all-inclusive coverage.

What does your two-wheeler say about you?

How many times have you seen a Hayabusa stuck in traffic at a busy junction and wondered, “He must be loaded!” or “Why in the blue hell did he buy a Hayabusa for daily commute?” While it is true that the gruesome traffic and the challenging roads in India would require nothing less than the Dark Knight’s Batpod to blow vehicles out of your way so you can reach your destination in time, it is important to remember that you choose your ride based on preferences and needs which define you.

It doesn’t take a psychoanalyst to understand that Standard Bikes such as the Hero Splendor are usually preferred by beginners, although they work great for experts as well. The Standard Bike signifies that you love your 9 to 5 job, maintain a budget and are careful where and what you spend on. Most importantly, you make up for most of the Indian population!

If you’re into Cruisers such as the Royal Enfield or Harley, you’re generally the type who enjoys comfort and leisure. There is nothing more you would love than a hot cup of coffee by a shop that’s probably 70 km away from where you live. Moreover, you’ve already planned a trip to Leh Ladakh with your machine. You have an adventurous spirit and are a true explorer!

If you own a Sport Bike, you’re probably a speed demon. You loathe slow moving traffic and do your best to avoid signals. You never shy away from taking risks and derive insane amounts of pleasure from breath-taking thrills. Your motto in life is, “Go fast or go home!”  

Last but not the least, Scooters! You prefer convenience over tedious activities and are generally laid back with a good sense of humor. Shifting gears is a nightmare for you but let’s face it – Why focus on gears when you can indulge in the joy of care-free riding?

As you may identify with most of the two-wheelers mentioned here, remember that your two-wheeler deserves an insurance plan. Not because it is mandatory but because some potholes go deeper than the Rabbit Hole to Wonderland.

Did we miss out on anything? Does your two-wheeler really define you? Let us know in the comment section below!

Whatever be your bike preference, you should get it insured too.

Read more about All you need to know two wheeler insurance policies in India

Read more about what to do when your two wheeler meets with an accident

Introducing the Turtlemint Chatbot- India’s first and only chatbot for buying insurance

Need to buy insurance but just can’t find the time? Read on, as now it’s as easy as saying ‘Hi’.

Do you see yourself spending hours commuting on a daily basis? In today’s hyper-connected world, we almost always tend to be connected to a messenger service, and that too through our first screens today i.e. our smartphones. Wouldn’t it be awesome to simply chat with us, buy your policy and have it ready in your email inbox before you even reach home?

Introducing the Turtlemint chatbot, where we make insurance search and purchase convenient for you. Now, you can simply message us on Facebook to buy or renew your policy in a matter of minutes. Our chatbot responds instantly and is available 24/7 to make your insurance purchase quick and simple. You can also check on your policy status or ask us a generic query over the chat. We have had quite a few happy customers chat with us and purchase their policy with a few simple clicks and messages to the Turtlemint chatbot.

Here is a peek into what the chatbot looks like:

Chat to know your suitable insurance


Start chatting by hitting ‘GET STARTED’.

Chat to know your suitable insurance


You can choose to buy or renew a policy. You can also look up your policy status or ask for any other general assistance.

 

Chat to know your suitable insurance
Chatbot asks you a series of simple questions.

 

Chat to know your suitable insurance
Information is gathered by the bot.

 

Chat to know your suitable insurance
The bot displays the best available plans as per the information gathered from you. Swipe from right to left, to browse various options. If you need to get a breakup of the displayed premium, click ‘PREMIUM BREAKUP’. Buy the policy by simply clicking ‘BUY POLICY’.

So there you have it – a bot that not only makes buying a policy easy, but also answers your insurance related queries. If the bot thinks a human being would be in a better position to answer your query, one of our agents will step in to help you out. It is a bot after all!

For all the curious minds out there, the Turtlemint chatbot is powered by several modules, including NLP. Go ahead, give it a try. Just say ‘Hi’ to fire up the bot on your Facebook messenger.

 

Here are two ways you can start chatting with us:

  1. Search for Turtlemint in your Facebook messenger and start chatting.
  2. Click the ‘Send a message’ button on the Turtlemint Page.

 

We would love to hear your feedback. This would help make our chatbot even smarter. Just drop us a line at product@turtlemint.com.

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

Read more about What is health insurance?

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Understand Life insurance policy in India & how does it work?