Is the portability feature available under this policy?

Month: May 2023

NDLS Ajmeri Gate Premium Car Parking (All Details)

Post author By parastar
Post date May 9, 2023

NDLS Ajmeri Gate Premium Car Parking (All Details)

NDLS Ajmeri Gate Premium Car Parking is a premium car parking lot found within New Delhi railway station. The northern railways realized the need and potential of offering a premium car parking facility within New Delhi railway station and began the NDSL Ajmeri Gate premium car parking operations where drivers are charged a fee for parking their vehicles.

This article will talk about the following:

How to get to NDSL Ajmeri Gate Car Parking
Parking Rates
Types of Parking available at Ajmeri Gate Car Parking

How to get to NDSL Ajmeri Gate Car Parking

First, you will need to enter the New Delhi Railway Station from the Ajmeri Gate end, once you enter the New Delhi Station from the Ajmeri Gate side, the NDSL Ajmeri Gate premium car parking is located on the left side. It is hard to miss as there is a big board highlighting the car park area. The parking area is besides platform no 16 at the New Delhi Railway Station.

We have also mentioned the Google Maps location of the Ajmeri Gate Car Parking below.

Parking Rates

Below mention are the parking rates for NDSL Ajmeri Gate premium car parking services:

Entry fee Rs. 30 if you wait for more than 8 minutes
First 2 hours Rs. 150, thereafter you will have to pay Rs. 100 per hour.

If you are considering parking for an extended period then may be you can consider the New Delhi General Parking lot as it is considerably cheaper at a rate of Rs. 200 for 24 hours.

Free parking spaces are also available at Lotus Temple, Kamal Cinema, Shivaji Kunj, Kalkaji Mandir, and more. It is pertinent to note that security may not be available at these locations.

If you are considering parking for a lesser duration and are looking for good security and connectivity then NDSL Ajmeri Gate premium parking may be a good choice, if you are looking for extended parking then the New Delhi General Parking lot and the free parking spaces mentioned above may be a good choice.

Types of Parking available at Ajmeri Gate Car Parking

NDSL Ajmeri Gate car parking offers the following types of car parking options:

Multi-level car parking
Premium car parking
Surface car parking

Importance and Benefits of Premium Parking at NDSL Ajmeri Gate

Direct Walk-in access: You can directly access the premium car parking by entering New Delhi Railway station through the Ajmeri Gate. The place is accessible by 4-wheelers as well as 2-wheelers. You can also walk to it.
Good connectivity: The NDSL Ajmeri Gate car park displays good connectivity where it is connected to the New Delhi Railway Station. People can access the Metro as well as private taxis for their transportation requirements after they park their vehicle at the parking lot.
Within New Delhi Railway Station: The parking lot is within the railway station premises itself, that makes it an ideal spot to park your vehicles when you are dropping of your friends and family at the station.

Ajmeri Gate Premium Car Parking Location (Google Maps)

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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New India Assurance Health Insurance Plans

New India Yuva Bharat Health Policy (Complete Details)

Post author By parastar
Post date May 8, 2023

New India Yuva Bharat Health Policy (Complete Details)

New India Assurance Yuva Bharat Health Policy by New India Assurance aims to provide affordable and accessible healthcare to India’s youth. From covering injuries arising from adventurous sports to maternity expenses. Yuva Bharat Health Policy is an affordable healthcare plan for young people that provides access to quality healthcare without worrying about financial burden. In this article, we will talk about the following:

About the Plan
Benefits of Yuva Bharat Health Policy
Key Features of Yuva Bharat Health Policy
Exclusions under Yuva Bharat Health Policy
Premium Chart of Yuva Bharat Health Policy

About the Plan

Yuva Bharat Health Policy by New India Assurance is an extensive health insurance policy for young people between the ages of 18 and 45. This policy offers coverage for hospitalisation expenses, pre- and post-hospitalisation costs, AYUSH, and advanced treatments arising out of any illnesses or accidents.

This plan also covers maternity expenses, road ambulance charges, injuries due to adventurous sports, and much more. The sum insured options available under this policy start at ₹ 5 Lac up to ₹ 50 Lacs. The policy comes in three types of variants: Base Plan, Gold Plan and Platinum Plan.

Benefits under the policy will vary according to the plan selected by the policyholder. You can choose to cover up to six family members under family floater basis. This policy can also be purchased on an individual coverage basis.

Benefits of Yuva Bharat Health Policy

Below are a few benefits provided under the Base Plan:

Hospitalisation Coverage: This plan covers all hospitalisation expenses incurred by the policyholder due to any illnesses or accidents.
Hospital Cash: This policy will provide a daily cash allowance starting from ₹ 500 up to ₹ 1000 for a period of five days during hospitalisation.
Ambulance Charges: This policy will reimburse ambulance expenses starting at ₹ 5000 up to ₹ 10,000, depending on the sum insured.
Injury due to Adventurous Sports: Any injury suffered due to adventurous sports like paragliding, bungee jumping, etc. will be covered under the plan.
Pre/Post Hospitalisation: This policy covers 60-day pre and 90-day post-hospitalisation expenses incurred by the policyholder.
AYUSH Coverage: This plan covers the cost of alternative treatments like Ayurveda, Unnani, Siddha, etc. up to the sum insured limit.

Benefits under the Gold Plan

In addition to the base policy coverage, the following benefits will be provided under the Gold Plan:

Personal Accident Coverage: The policyholder or the beneficiaries under the policy will be financially compensated in case of death or injury sustained due to an accident. The insurer will also financially compensate in the event of any permanent disability due to an accident.
Air Ambulance Coverage: Under the Gold Plan, air ambulance charges will be covered starting from ₹ 50,000 up to a maximum of ₹ 1,00,000, depending on the sum insured.
10% Auto Recharge: 10% sum restoration benefit, which automatically reinstates the sum insured for the treatment of the same illness once during the policy period. This feature will be applicable in cases where the policyholder has exhausted the base sum limit due to previous hospitalisations.
Critical Care Benefit: The company will provide a lump sum payout in case the policyholder is diagnosed with any of the life-threatening illnesses mentioned under the policy. The amount payable will range from ₹ 1,00,000 up to ₹ 250,000 depending on the sum insured selected.

Benefits under Platinum Plan

In addition to the benefits of Base Plan and Gold Plan, the following benefits will be provided under Platinum Plan:

Maternity Coverage: Under the platinum plan, hospitalisation expenses arising out of maternity related treatment will be covered up to ₹ 25,000 in the case of a single baby. Maternity expenses will be covered up to ₹ 37,500 in the case of twin babies.
Infertility Treatment Coverage: Under this plan, the cost of infertility treatments will be covered from ₹ 50,000 up to ₹ 1,00,000, depending on the sum insured selected.
Birth Right Cover: In case the new born baby is diagnosed as suffering from any of the specified illnesses, like autism or down syndrome, a lump sum payout will be payable by the insurer.
Vaccination Coverage: Under this plan, the vaccination expenses of the new born child will be covered up to 0.1% of the sum insured for up to two years.

Features of Yuva Bharat Health Policy

Below are a few key features of this policy:

Waiting Period: Any pre-existing illnesses or conditions suffered by the policyholder will be covered after a waiting period of 24 months.
Lifelong Renewal: This policy comes with a lifelong renewability option, which means the policyholder can renew their policy without any restriction on age.
Specified Illness: The cost of illnesses like cataract, hernia, etc. specified under the policy will be covered after a waiting period of 12 months.
No Mandatory Check-up: A medical check-up is not compulsory before purchasing the policy.
Add on Cover: Optional add on cover options, such as Enhance Maternity Limit Cover, is available for better coverage.
Eligibility Criteria: Adult individuals starting from 18 years old to 45 years old can purchase this policy. Dependant children starting from 91 days to 25 years can opt for this plan.
Discounts: The company offers a 10% discount on maintaining healthy parameters of BMI, blood sugar, and blood pressure readings. The company also offers a floater discount of 10% for insuring all your family members under one policy.

Exclusions under Yuva Bharat Health Policy

Following are the general exclusions mentioned under this policy:

Obesity treatments and procedures
Cosmetic treatments and surgery
Sex change treatments
Unproven/Experimental treatments

Premium Chart of Yuva Bharat Health Policy

To help you better understand the sum insured options and their corresponding premiums based on age and location, we have provided a sample premium chart below.

Zone 1: includes the major cities of India, such as Mumbai, New Delhi, Mumbai Suburdan, Thane, Navi Mumbai, Ahmedabad, Vadodara, and Surat.
Zone 2: Rest of India

Premium Chart of Yuva Bharat Health Base Policy ( Zone 1)

Age Group	Sum insured: ₹ 5 Lakh	Sum Insured: ₹ 10 Lakh
3 – 17 months	₹ 3,269	₹ 4,296
18-30 years	₹ 4,712	₹ 6,240
31- 35 years	₹ 5,731	₹ 7,614
36 -40 years	₹ 7,267	₹ 9,687
41-46 years	₹ 9,602	₹ 12,837
46- 50 years	₹ 12,246	₹ 16,410
51- 55 years	₹ 15,827	₹ 21,240
56 – 60 years	₹ 20,235	₹ 27,200
61- 65 years	₹ 27,459	₹ 36,945
66 years and above	₹ 31,074	₹ 41,822

To check out the premium chart for Zone 2 and other covers available under this policy, refer to the policy prospectus.

Frequently Asked Questions

You can choose to cover yourself, your spouse, and your dependent children under this policy. Policyholders can cover up to six members on a family floater basis.

New India Yuva Bharat Health Policy comes in three variants:
Base Plan, Gold Plan, and Platinum Plan..

Free look period of 15 days is available under this policy.

A cumulative bonus ranging from 10% up to 30% is applicable for every claim free year.

Yes, the portability option is available under the policy.

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Motor Insurance

How to Find a PUC near me?

Post author By parastar
Post date May 7, 2023

How to Find a PUC near me?

Have you ever asked yourself “Where is a PUC near me?” in order to get your PUC certificate renewed? This article will tell you exactly how to locate the nearest PUC center and get your PUC certificate.
We will also give you the exact steps you need to follow to find the nearest PUC center to you. We will talk about the following:

Steps to locate a PUC near you
PUC centers in Maharashtra
Importance of PUC

Steps to locate a PUC near you

You can locate the nearest PUC to you by following these steps:

Search for ‘PUC Center List’: You will need to search for ‘PUC Center List’ on your preferred search engine. Once you’ve searched for it, kindly navigate to the official PUC Center List tool by the Ministry of Road Transport and Highways.
Enter Details: Once you are on the official PUC Center List tool, you will need to enter your State and your Office.
PUC Near Me: Now, once you’ve entered your State and your Office, the PUC Center List tool will mention a list of all of the PUC centers in your jurisdiction.
Export to PDF: Now, in order for you to locate a PUC near you, you will need to export this data by clicking on ‘Export to PDF’ and download the PDF.
Search the PDF: Now that you have downloaded the PDF, search the PDF by pressing ‘Ctrl and F together.’ Now enter your Pin code, if there is an authorized PUC center in your location, it will then be highlighted on the search. If not, then try entering pin codes or places near your location.

Alternatively, you can also navigate through the PDF to manually find your nearest PUC center.

PUC near me tool — PUC Center locator tool by the Ministry of Transport

PUC Centers in Maharashtra

You can find your nearest PUC (pollution under control) center in Maharashtra by following the steps mentioned above. Alternatively, you can also directly access a list of all of the PUC centers in Maharashtra by visiting the official PDF issued by the Ministry of Transport of Maharashtra.

Once you open the PDF, just put in your pin code and locate your nearest PUC center. It’s as simple as that.

Importance of PUC

Mentioned within are some of the most important benefits of ensuring that you do your vehicles PUC in a time to time manner.

Fines and penalties: Driving without a valid PUC will lead to a fine of Rs. 1000 for first time offenders and Rs. 2000 for repeat offenders.
It is mandatory: It is mandatory for every vehicle on the road to have a valid PUC under section 190 (2) of the Motor Vehicle Act.
Keeps pollution under check: Doing regular PUC checks will ensure that the pollution caused by vehicles is reasonably under check.
Keeps your car healthy: A PUC test finds out if there are any issues within your vehicle. If the emissions are higher than normal, it indicates an issue within your vehicle that needs to be diagnosed and fixed.
PUC is mandatory for insurance: If you are looking to buy motor insurance, you first need to show the insurance company a valid copy of your vehicles PUC, only then the motor insurance company can issue a motor insurance policy for your vehicle.

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New India Assurance Motor Insurance Plans

Learn about Pay As You Drive Policy By New India Assurance

Post author By parastar
Post date May 6, 2023

Learn about Pay As You Drive Policy By New India Assurance

Pay As You Drive Policy by New India Assurance is a newly launched motor insurance policy in India. This policy uses a unique approach to premium calculation assisting policyholders to pay only for the kilometers driven by their vehicle during the policy tenure. Making it an ideal choice for persons who are looking out for a motor insurance policy at an affordable premium.

This article will talk about the following:

About the Policy
Benefits of Pay As You Drive Policy
Coverage offered under Pay As You Drive Policy
Exclusions under Pay As You Drive Policy
Add On Covers available under the policy
How to file claim under Pay As You Drive Policy?

About the Policy

Pay As You Drive is a recently launched innovative car insurance policy by New India Assurance. This is a comprehensive motor insurance policy designed to calculate the premium based on the usage of the vehicle.

The policyholder will be requested to declare the current odometer reading of their vehicle on buying the policy. The policyholder will also be requested to provide an estimation of kilometers they expect to drive during the policy period. Based on this information, policyholders can choose their preferred slab of options offered in the policy.

The policyholder’s can choose to opt for the following options provided under this policy: Up to 4,000 kilometers, Up to 6,000 kilometers, Up to 8,000 kilometers, Up to 10,000 kilometers.

In the case the policyholder has driven the vehicle more than the selected number of kilometers the policy will still continue to provide coverage. Although at the time of policy renewal, the policyholder will be entitled to a discount calculated based on the actual kilometers completed.

Coverage options under Pay As You Drive

Now let us talk about the coverage under this policy. This policy offers three types of coverage options to choose from:

Annual Cover: Under this cover, Third Party and Own Damage Insurance of the vehicle will be provided for one year.
Bundled Cover: Under this cover, Own Damage Insurance will be provided only during the first year of the policy. Whereas Third Party Insurance coverage will be provided for three years. This cover is only applicable to brand new vehicles.
Standalone Own Damage Cover: This cover provides Own Damage Insurance and does not offer any Third Party coverage.

Benefits of Pay As You Drive Policy

Below are a few benefits offered under the policy:

Usage-based Premium: This policy calculates the premium based on the actual usage or kilometers run by the vehicle. This means that policyholders who drive less can pay a lower premium and enjoy the benefits provided under the policy.
Encourages Safe Driving: The policy encourages policyholders to adopt safe and responsible driving habits by offering discounts on the Own Damage Insurance premium for good driving behaviour.
Flexibility in Slab Selection: Policyholders can choose the kilometer slab option based on their expected usage during the policy term. This feature enables the policyholder to choose the right coverage as per their needs.
Transparent Premium Calculation: As the premiums are based on actual usage of the vehicle, this provides policyholders with a better understanding of the premium they are paying and how it is being calculated.
Discount on Renewals: Policyholders will be eligible for PAYD discount based on the actual kilometers completed by their vehicle. In addition to that, the policyholder will also be eligible for the No Claim Bonus Benefit (NCB), as per policy terms.

Types of Plans under Pay As You Drive Policy

This policy comes in two kinds of variants: Basic Cover and Gold Cover.

1.) Basic Cover

The insurance company will provide financial assistance in case of:

Mechanical and electrical breakdown
Keys locked inside the car
Battery jump start
Flat tire
Fuel delivery

2.) Gold Cover

Under this cover, in addition to the basic cover, the company will also provide financial assistance in the case of wrong fueling, cab assistance.

Exclusions under Pay As You Drive Policy

Following are the general exclusions under the policy:

Any customization or additional fittings made to private cars, allowing policyholders to customize their vehicles, will not be covered.
All the exclusions listed under the Private Car Section of the Indian Motor Tariff 2002 will not be covered under this policy.
Any claim arising in extended geographical locations will not be covered, as per policy terms and conditions.

Add on Covers available under the policy

Policyholders can choose to opt for an add on cover with their base policy to enhance their coverage and avail of maximum protection. Some of the available add on covers are as follows:

Nil Depreciation Cover
Engine Protect Cover
Roadside Assistance Cover
Return to Invoice Cover
Personal Belongings Cover
No-Claim Bonus Protection Cover

How to file claim under Pay As You Drive Policy?

Follow these simple steps to file a claim under the policy:

Step 1: Inform the insurer immediately in case of an accident.
Step 2: Dully fill out and sign the claim form that will be available at the nearest branch of the insurer. Submit the claim form along with relevant documents like registration certificate, driving licence, original bills of repair, FIR report, etc, depending on the nature of the claim.
Step 3: The insurer will appoint a surveyor to inspect the condition of the vehicle. In case of major damage, a spot survey will be conducted at the accident site.
Step 4: Submit all the requested documents to the company.
Step 5: After thorough inspection of the claim, your claim will be approved.

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Frequently Asked Questions

The following options are available to choose from:

Up to 4,000 kilometers
Up to 6,000 kilometers
Up to 8,000 kilometers
Up to 10,000 kilometers

No, the policy will still be active until the end of its tenure. However, the discount will be calculated on the basis of the actual kilometers completed by the vehicle.

This policy is currently available for private vehicles.

Motor Insurance

New India Assurance Motor Insurance (Plans, Benefits & More)

Post author By parastar
Post date May 6, 2023

New India Assurance Motor Insurance (Plans, Benefits & More)

Are you looking for a reliable motor insurance policy? New India Assurance is a renowned name in the insurance sector, offering a plethora of motor insurance policies that safeguard millions of individuals during unfortunate events like accidents. From offering 24/7 customer support to quick claim settlement, discover how New India Assurance Motor Insurance could be your one-stop solution for all motor insurance-related needs.

In this article, we will talk about the following:

About New India Assurance
New India Assurance Motor Insurance Plans
Benefits of New India Assurance Motor Insurance Plans
How to file claim with New India Assurance Motor Insurance?
How to renew New India Assurance Motor Insurance Plans?
How to renew New India Assurance Motor Insurance?

About New India Assurance

New India Assurance is a government-owned insurance company founded by Sir Dorabji Tata in 1919 and nationalised in 1973. New India Assurance is headquartered in Mumbai. The company has six large corporate offices, 447 divisional offices, 31 regional offices, and more than 2500 official branches across India.

New India Assurance is a prominent insurance company that offers comprehensive motor insurance policies to its customers. The company provides motor insurance for privately and commercially owned vehicles, two-wheelers, and so on. Motor insurance plans by New India Assurance are designed to offer financial protection to vehicle owners in case of any accident or damage caused to the insured car.

As per the annual report of IRDA, the claim settlement ratio of New India Assurance in FY 2021–2022 was 92.93%. In addition to its high claim settlement ratio, the insurer also offers a wide network of 3000+ cashless garages across the country. This helps policyholders get their vehicles repaired quickly and conveniently without having to worry about arranging for cash or reimbursement.

Claim Settlement Ratio	92.93%
Network Garages	3000+
Official Website	https://www.newindia.co.in/portal/
Customer Care	18002091415
Official Email ID	Tech.support@newindia.com

New India Assurance Motor Insurance Plans

Below are the plans offered by the company:

1.) Private Car Insurance

As the name suggests, this policy covers all privately owned vehicles. The plan offers two types of coverage:

Liability Only Policy: This policy offers coverage for any third-party liability for bodily harm or damage caused to the vehicle due to accidents.
Package Policy: Under this cover, in addition to the benefit of the Liability Only cover, it also offers Own Damage Insurance.

2.) Standalone Compulsory Personal Accident Cover

This motor insurance policy financially compensates the policyholder or the beneficiaries of the policy in case of accidental death or disability caused while driving the insured vehicle. The sum insured under this policy is ₹ 15,00,000 and the policy tenure is one year.

3.) Pay As You Drive Policy

This comprehensive motor insurance policy is designed to charge the premium based on the usage of the vehicle. The vehicle owner will be requested to declare the odometer reading of their vehicle.

The policyholder can select the coverage based on the estimated number of kilometers they expect to drive the vehicle during the policy tenure.

The slabs of kilometers available for selection are as follows: Upto 4,000 kms, Up to 6,000 kms, Up to 8,000 kms, Up to 10,000 kms.

4.) Commercial Vehicle Insurance

This policy is designed to offer financial protection to individuals who use vehicles for commercial purposes. Under commercial vehicle insurance, two types of coverage are available: Liability Only Policy and Package Policy.

5.) Two-Wheeler Insurance

This policy offers coverage for two-wheeler vehicles like motorcycles, bikes, and scooters. The policy provides two types of coverage: Third-Party Liability and Comprehensive coverage.

This policy offers unlimited coverage for third-party liability in case of death or injury due to an accident for commercially owned vehicles.

6.) Standalone Own Damage for Private Car

This policy offers coverage for any damage caused to the insured private vehicle in the event of an accidents. Since it is a standalone personal damage insurance policy, it does not offer any coverage for third-party liability.

Benefits of New India Assurance Motor Insurance

Below are the benefits offered under the company’s policies:

Extensive Coverage: Motor insurance plans offered by the company provide comprehensive coverage that provide financial compensation in case of an accident, theft, or damage to the insured vehicle.
Third-party Liability Coverage: The policy provides third-party liability coverage thats covers the financial liability of the insured vehicle for any damage or injury caused to a third party.
Network Garages: The company has a wide network of more than 3000 cashless garages across the country.
24/7 Customer Support: The company provides 24/7 customer support, assisting in the quick resolution of any queries or grievances of its customers.
No Claim Bonus: Policyholders can get the benefit of a cumulative bonus that increases their coverage for every claim free year, depending on the policy terms.

How to file claim with New India Assurance Motor Insurance?

Follow these simple steps to file a claim with the company:

Step 1: Inform the insurance company immediately in case of an accident.
Step 2: Submit the pre-authorization claim form along with relevant documents to the company, depending on the nature of the claim. The claim form will be available at the nearest branch of New India Assurance.
Step 3: The insurer will process the claim and assess the damage to the vehicle. In case of any major damage, the policyholder may need to take the vehicle to a network garage for repairs.
Step 4: Once the repairs are complete. Submit all the original bills, receipts, etc. to the company.
Step 5: The insurer will verify the bills and reimburse the claim amount.

Documents Required

Duly filled and signed claim form
Registration certificate
Driving licence
FIR (if applicable)
Original repair bills, receipts, etc.
Original policy documents
Road tax certificate

How to renew New India Assurance Motor Insurance?

Follow these simple steps to renew your motor insurance policy in a matter of minutes:

Step 1: Go to the official website of the company or click on this link to visit the portal directly, i.e, https://www.newindia.co.in/portal/quickRenewPost/renewal.
Step 2: Enter your customer ID and policy number. Then click on “Proceed.”
Step 3: Check all the details pertaining to your policy and make the payment online.
Step 4: You can also make the payment by visiting the nearest branch of the insurer.

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New India Assurance Motor Insurance

New India Assurance Motor Insurance Plans (Which are the best?)

Post author By parastar
Post date May 6, 2023

New India Assurance Motor Insurance Plans (Which are the Best?)

New India Assurance Motor Insurance provides a host of motor insurance policies that provide different levels of coverage and different use cases. New India Assurance motor insurance provides coverage for private vehicles, commercial vehicles, fleets of vehicles, two-wheelers, and more.

They have also recently come up with a brand new plan called New India Assurance PAYD policy.

You can learn about all of the policies below

Private Car Insurance
Commercial Vehicle Insurance
PAYD Motor Insurance
Two Wheeler Insurance
Fleet Insurance
Standalone CPA cover

Let us now talk about these motor insurance policies in detail.

1.) Private Car Insurance

New India Assurance offers private car insurance to anyone looking to buy a motor insurance policy in India. As you may be aware, it is compulsory for a driver to have at least a valid third-party motor insurance policy before he ventures on the road.

Types of Private Car Insurance Offered

The company offers two types of private car insurance, they are liability only policy and package policy. A liability only policy will only extend coverage towards damage caused to a third-party, and owner-driver.
A package policy will cover third-party liability, owner-damage, as well as damage to the insured vehicle. It is a comprehensive motor insurance policy.

General Inclusions and Exclusions

A Liability only Policy

Inclusions: Personal accident cover for owner-driver, damages caused to third-party
Exclusions: Damage to own car, damage to passengers

Package Policy

Inclusions: Personal accident cover for owner-driver, damages caused to third-party, damage to car, fire, theft, malicious act, terrorist acts, lightning, landslide, earthquake, riots, and more.
Exclusions: Consequential loss, regular wear and tear, civil war, driving without a license, driving under the influence of alcohol, and more.

2.) Commercial Vehicle Insurance

A commercial vehicle insurance plan is a motor insurance plan for commercial vehicles. New India Assurance provides two commercial motor insurance polices.

Types of Commercial Car Insurance

New India Assurance Motor Insurance offers two types of commercial car insurance, they are liability only policy and package policy. Similar to their private motor insurance policy, a liability only commercial policy will only extend coverage towards damage caused to a third-party.
A package commercial policy will cover will cover third-party liability, owner-damage, as well as damage to the insured vehicle. It is a comprehensive motor insurance policy.

General inclusions and exclusions include

Liability only Commercial Policy

Inclusions: Damages caused to third-party
Exclusions: Damage to own car, damage to passengers

Package Commercial Policy

Inclusions: Damages caused to third-party, owner-damage, damage caused to insured vehicle, fire, theft, vandalism, terror acts, lightning, landslide, earthquake, riots, and more.
Exclusions: Regular wear and tear, driving without a license, consequential loss, driving under the influence of alcohol, civil war and more.

3.) PAYD Motor Insurance

This is a newly released policy by United India Assurance, it is called Pay as Your Drive (PAYD.) Under this policy, policyholders are eligible to receive discounts based on the amount of kilometres the insured vehicle runs.

The policyholder is eligible to receive discounts on renewal premiums if they drive their vehicle less than the specified kilometres mentioned under the policy bond. The PYAD plan comes in two variants, basic cover and gold cover.

Types of PAYD Car Insurance Offered

The PAYD car insurance is available in three types, they are comprehensive motor insurance cover, third-party motor insurance cover, and bundled cover.

You can read about the inclusions and exclusions of the PAYD plan.

4.) Two Wheeler Insurance

The New India Assurance two wheeler insurance plan includes insurance policies for both bikes as well as scooters in India.

Types of Two Wheeler Insurance Offered: Policy types offered are liability only package and the package policy (comprehensive plan.)

General Inclusions and Exclusions

Liability only Package

Inclusions: Damage to third-party, owner-damage
Exclusions: Damage to passengers, damage to self-vehicle

Package Policy

Inclusions: Damage to third-party, owner-damage, damage to insured vehicle, fire, floods, acts of terror, earthquake, theft, and more.
Exclusions: Consequential loss, regular wear and tear, war (including civil war), damages caused due to being under the influence of alcohol.

5.) Fleet Insurance

People who are in the business of transport and hospitality can avail of New India Assurance’s fleet insurance plan to insure their entire fleet of vehicles, ensuring stability of their transport business.

6.) Standalone CPA cover

New India Assurance also provides a separate stand alone compulsory accident cover (CPA.) Under Indian motor laws, it is mandatory for every driver to take CPA cover if they already do not have an accident insurance policy of at least 15,00,000/-.

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Postal Life Insurance

What is the Postal Life Insurance (PLI) Scheme? – Interesting Facts

Post author By parastar
Post date May 6, 2023

What is the Postal Life Insurance (PLI) Scheme? – With Interesting Facts

Are you curious to read and learn about the Postal Life Insurance Scheme, also referred to as the Post Office PLI Scheme? This article will go in-depth on the topic of the Postal Life Insurance (PLI) Scheme: its history, benefits, Plans, and more. Did you know that the PLI Scheme was ordered by the Queen Empress of India herself?

Continue reading to know about more such interesting facts about the PLI Scheme of India.

History of PLI Scheme
Benefits of PLI Scheme
PLI plans and policies
Interesting Facts about the PLI Scheme

History of the PLI Scheme

The Postal Life Insurance Scheme is one of the earliest welfare schemes introduced in India. In fact, PLI Scheme was introduced around 63 years prior to India’s independence in 1947. The PLI Scheme was founded on February 1, 1884, and was solely introduced as a welfare scheme for employees of the post office.

The PLI Scheme has come a long way since 1884, with many modifications and changes. Today, the PLI Scheme provides six types of life insurance schemes or plans for a variety of different audiences, including officers of the central and state governments, nationalised banks, RBI employees, professionals, and beyond.

Benefits of the PLI Scheme

The most important benefits of the Postal Life Insurance Scheme are:

High coverage: The Postal Life Insurance Scheme provides a reasonably high life insurance coverage of Rs. 50 lacs. Life insurance coverage has slowly but steadily increased over the course of many years. This is extremely important as it is keeping pace with general inflation levels in the nation.
Highly accessible: The PLI Scheme is accessible throughout the nation via over 1.5 lakh post office branches across India. This makes it the easiest life insurance scheme to access in India.
Tax Benefits: Policyholders can avail of tax benefits under Section 80C and Section 10(10D) of the Income Tax Act on premiums paid.
Affordable Premiums: With the spirit of welfare intact, the PLI Scheme provides a good amount of life insurance coverage for reasonably affordable premium rates. This increases insurance penetration in India.
Guaranteed Returns: Returns are guaranteed by India Post. This ensures safety and stability for policyholders.

PLI Schemes and Policies

There are six plans offered under the PLI Scheme, and they are:

Endowment Assurance (Santosh)
Anticipated Endowment Assurance (Sumangal)
Whole Life Assurance (Suraksha)
Convertible Whole Life Assurance (Suvidha)
Children’s Policy (Bal Jeevan Bima)
Joint Life Assurance (Yugal Suraksha)

You can also read in detail about the PLI plans.

Interesting Facts About the PLI Scheme

Mentioned below are some of the lesser-known but interesting facts about the PLI Scheme:

The PLI Scheme was founded in 1884 by order of the Queen Empress of India.
The PLI Scheme was suggested by the then Director General of Post Offices, Mr. F.R. Hogg.
There are over 46 lakh policyholders under the PLI Scheme (as of 2017).
PLI policyholders can avail of a loan against their PLI policy.
Maximum life insurance coverage under the PLI scheme is Rs. 50 lacs (as of 2023).
The PLI Scheme is backed by the Central Government of India.
The annual budget of the post office is ₹ 20,820.02 crore (as of 2022) and employs over 4 lakh employees across the country.

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IRDA

How to Locate an Agent through IRDA Agent Locator

Post author By parastar
Post date May 5, 2023

How to Locate an Agent through IRDA Agent Locator

Are you looking to locate a registered insurance agent in India? Well, look no further, we will show you exactly how you can get a list of registered insurance agents near you through the IRDA agent locator portal, and you can locate your nearest registered insurance agent by pincode.

We will also give you a complete walk-through on how you can locate your nearest agent.

Steps to Locate an Agent through IRDA Agent Locator

Step 1.) Search for ‘IRDA agent locator’

Search for IRDA agent locator on your preferred search engine and navigate to the official IRDA agent locator page. You can also access the portal directly via – https://agencyportal.irdai.gov.in/PublicAccess/AgentLocator.aspx

Step 2.) Enter your Details

Now, you can either do a detailed agent locator search or you can do a broad agent locator search. Let us give you can example of both.

Detailed agent locator search:

Here, you will need to enter the name or license number (preferred) of the agent.
Once entered, click on ‘Locate’, you will now get all of the publicly available information about that particular agent.

Broad agent locator search:

Enter the State, District, Insurance Type, and PIN code. Once entered, press ‘Locate’
You will now get a detailed list of all insurance agents in that particular pin code along with their license number, IRDA URN, Agent ID, Phone Number and Name.

Step 3.) Confirm Details

Now that you have the relevant agent details with you like the agent ID, license number, name of agent, mobile number, etc, you can now verify these details. If satisfied, you can reach out to the agent via their registered phone number that the IRDA agent locator tool provided you with.

Cross-verify with IRDA PAN Look up

You can also cross check the authenticity of your insurance agent by verifying their PAN details on the IRDA PAN Look up tool. Doing so will ensure that you know for a fact that your insurance agent is registered with IRDA of India, and is authorized to sell insurance in India.

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Life Insurance Corporation

How much is an LIC Agent’s Commission? (LIC Commission Chart)

Post author By parastar
Post date May 5, 2023

How much is an LIC Agent’s Commission? (LIC Commission Chart)

So, are you wondering how much commission does an LIC agent get? Are you interested in getting into the insurance agency business, or are you just curious about how much commission LIC gives to its agents? Well, learn about LIC’s commission structure, its rate of commission, LIC commission details and the LIC agent commission chart (plan wise) through this information-packed article. We will talk about the following:

How much is an LIC agent’s commission?
How do LIC agents make a commission?
LIC agent Commission Chart

How much is an LIC agent’s commission?

The exact commission of an LIC agent depends on the type of policy they have sold, and the bonus they have earned. But you can get an idea of the structure of LIC commission payments and understand how much commission an LIC agent can earn.

Commission Type	Commission Percentage %
Fresh policy sold	20-25% (depending on the policy sold)
Bonus on first year policies sold	Up to 40% of policy premium
Recurring commission (2nd and 3rd year)	7.5% of policy premium
Recurring commission (4^th year onwards)	5% of policy premium

Now, let us understand the commission rates for different types of LIC policies:

Policy Type	Commission
Health Insurance	25%
Term Plan	25%
Endowment Plan	25%
Money Back Plan	20%
Child Plan	25%
Pension Plan	2%

To get a further idea about the commission rate, refer to the plan wise LIC Agent Commission Chart below. The chart specifically gives a detailed break-up of the commission rate based on the policy type and policy tenure.

How do LIC agents make a commission?

An LIC agent makes a commission in the following ways:

When they sell an LIC policy: This is the primary way an LIC agent earns a commission. An LIC agent gets a 20-25% commission on fresh LIC policies sold. This commission generally makes up the bulk of the LIC agent’s earnings.
When the policyholder renews a policy: An LIC agent also earns a recurring commission of 7.5% on the premium value whenever an existing LIC policyholder renews their LIC policy. The agent makes 7.5% on renewals for the 2nd and 3rd years. From the 4th year onwards, the agent makes a flat commission of 5% until the policy is in force.
Commission from bonus: LIC also provides its agents with a 40% bonus commission on the first year’s commission, provided the agent meets certain sales targets set by LIC.
Hereditary commission: If an LIC agent passes away, their commission will be paid to their next of kin or nominee. This feature provides a sense of security to the family of the LIC agent.
Free term insurance: LIC pays free term insurance to an agent under Schedule VI of the Agents Rules, 1972, if the agent passes away before the age of 60, subject to certain terms and conditions.
Retirement benefits: A gratuity of up to ₹ 2,00,000 is payable to an LIC agent as per Schedule VI of the Agents Rules, 1972.

As you can see, LIC has quite a few robust earning metrics for its agents, ensuring that they make a healthy income. If you are considering becoming an LIC agent, it could be a wise choice.

LIC Agent Commission Chart

LIC agent commissions are dependent on the type of policy sold and the tenure of the LIC policy sold. Different types of policies and different tenures attract different commission rates for LIC agents.

Get a detailed idea of LIC commissions by viewing the LIC agent commission chart below.

LIC commission chart — LIC Commission Chart

We hope this article shed some light on agent commission details, and agent commission structure.

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sbi life insurance

How to check SBI Life Insurance Fund Value?

Post author By parastar
Post date May 4, 2023

How to check SBI Life Insurance Fund Value?

When we invest in a life insurance policy, we expect that it provides financial security to us and our loved ones during uncertain times. SBI Life Insurance is a leading provider in the life insurance industry, helping millions of individuals achieve this peace of mind. However, just buying the policy and forgetting about it is not enough.

It is imperative that policyholders monitor the fund value of their life insurance policy to ensure that their investment is growing and meeting their financial goals. Hence, in this article, we will discuss about fund value and also show the steps to keep track of your fund value with SBI Life Insurance. This article will talk about the following:

What is Fund Value?
How to check SBI Life Insurance Fund Value?
5 Popular Unit Linked Plans by SBI Life Insurance

What is Fund Value?

In simple terms, fund value is the aggregate value of investments made in the unit linked life insurance plan. It is calculated based on the net asset value (NAV) of the policy, which takes into account the investment balance, cash balance, and valuation of securities, while deducting charges like management and operating fees. Simply put, fund value represents the current worth of the policyholder’s investment in the plan.

Upon maturity of the policy or in the event of the policyholder’s unfortunate demise during the policy term. The policyholder or their beneficiaries will receive the fund value or the sum assured, whichever is higher, as per the policy terms and conditions.

How to check SBI Life Insurance Fund Value?

Below are the steps to check your fund value:

Step 1: Visit the official website of SBI Life Insurance, i.e, https://www.sbilife.co.in/.
Step 2: Click on the “Services” tab.
Step 3: Select “Policy Fund Details” and then click on “Proceed.”
Step 4: Your latest fund value will be displayed on the screen.
Step 5: You can also contact the company’s customer care at 022-624-58501 or check the same through the Smart Care App provided by the company.

5 Popular Unit Linked Plans by SBI Life Insurance

SBI Life Smart Power Insurance: This ULIP life insurance plan offers two unique fund options to the policyholders. The two fund choices offered in this plan are Trigger Fund and Smart Fund option. Policyholders can choose the fund depending on their risk appetite. This plan also comes with the benefit of in-built accelerated total and permanent disability cover.
SBI Life Wealth Assure Plan: This is a unit linked life insurance plan that offers the dual advantage of a life cover and an investment benefit. Along with offering life coverage, this plan aims to offer higher returns to the policyholders by investing in market-linked securities.
SBI Life Smart Wealth Builder Plan: This ULIP, non-participating life insurance plan not only offers life coverage but also guaranteed returns from market related investments. SBI Life Smart Wealth Builder is the perfect plan for individuals who want to secure their family’s financial future.
SBI Life Retire Smart Plan: As the name suggests, this is a ULIP pension plan designed for people seeking a stable stream of income after retirement. The plan offers a guaranteed payout to the policyholder upon policy maturity.
SBI Life Smart Elite Plan: This Unit linked plan is specifically designed for high net-worth individuals. The plan provides life insurance coverage and also provides higher returns by investing in equity, gold, debt funds and so on. This plan comes in two different variants, i.e Gold and Platinum option.