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Expert Guidance for Life and General Insurance
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Expert Advice
Our team of insurance experts has over 17 years of combined experience in the industry. We are here to answer your questions, provide advice, and guide you through the insurance process.
TWO WHEELER INSURANCE
Driving without at least a valid third-party insurance policy is an offense in India, punishable by a fine of ₹2,000 or more.
Two-wheeler insurance in India is a mandatory requirement by the Motor Vehicles Act, 1988, providing financial protection against third-party liabilities and, depending on the policy type, damage to your own vehicle due to accidents, theft, or natural calamities.
Types of Two-Wheeler Insurance
There are three primary types of policies available:
- Third-Party Liability Only Plan: This is the minimum, legally mandatory cover. It protects you against the legal liabilities arising from causing injury, death, or property damage to a third party in an accident. It does not cover damage to your own bike.
- Standalone Own Damage (OD) Plan: This policy covers financial losses incurred due to damage to your own two-wheeler caused by accidents, fire, theft, or natural disasters. This plan can only be purchased if you already have an active third-party insurance policy.
- Comprehensive Plan: This is the most recommended and extensive cover. It combines both third-party liability and own damage coverage in a single policy, offering all-around protection.
Key Coverage, Benefits and Popular Add-On Covers
A comprehensive two-wheeler policy generally provides coverage for:
Damage due to accidents, fire, and theft.
Losses from natural calamities such as floods, earthquakes, cyclones, etc., and man-made calamities like riots, strikes, and malicious acts.
Third-party legal liabilities including bodily injury, death, and property damage.
Mandatory Personal Accident (PA) Cover for the owner-driver, typically up to ₹15 lakhs, in case of accidental injury or death.
Cashless repairs at the insurer's wide network of authorized garages across the country.
You can enhance a comprehensive policy with optional add-ons for an additional premium:
Zero Depreciation Cover: Ensures you receive the full claim amount for replaced parts without deductions for depreciation.
Roadside Assistance: Provides 24x7 support for breakdowns, flat tyres, battery jump-starts, and towing services.
Engine Protection Cover: Covers the repair/replacement costs of the engine and gearbox, which may be damaged due to water ingress or oil leakage (not covered in a standard policy).
Return to Invoice (RTI) Cover: In the event of total loss or theft, this add-on ensures you get the original on-road purchase price of the bike, not just its depreciated market value (IDV).
No Claim Bonus (NCB) Protection: Allows you to retain your accumulated NCB discount even after making a claim.
Protect Your Medical Expense Today
HEALTH INSURANCE
How Health Insurance Works
How Health Insurance Works
Health insurance is a financial contract that covers your medical expenses in exchange for regular premium payments, protecting your savings from high and unexpected healthcare costs. When you have a policy, the insurer covers costs related to hospitalization, treatments, surgeries, and other health-related services based on the policy terms. .
How Health Insurance Works
How Health Insurance Works
How Health Insurance Works
The health insurance process generally involves three main components:
- Premium Payment: You pay a regular amount (monthly or annually) to the insurance company to keep your policy active. The premium amount is determined by factors such as your age, medical history, location, and the level of coverage chosen.
- Coverage: In return for your premium, the insurer agrees to cover eligible medical expenses up to a predetermined maximum limit, known as the sum insured.
- Claims Process: When you need medical care, you can use one of two claim processes:
- Cashless Facility: If you get treatment at a hospital within the insurer's network, the insurer settles the medical bills directly with the hospital. This means you do not have to pay large amounts upfront.
- Reimbursement: If you receive treatment at a non-network hospital, you pay the bills yourself first and then submit all the original bills and documents to the insurer for reimbursement later. .
Key Features and Benefits
How Health Insurance Works
Key Features and Benefits
Financial Protection: Protects your savings from being depleted by unexpected medical emergencies and the rising cost of healthcare.
Comprehensive Coverage: Most plans cover a wide range of expenses, including:
In-patient hospitalization (room rent, ICU, doctor fees, etc.)
Pre- and post-hospitalization expenses (diagnostics, consultations, medicines)
Daycare procedures (treatments under 24 hours)
Ambulance charges
Alternative treatments like AYUSH (Ayurveda, Yoga, Unani, Siddha, and Homeopathy)
Annual health check-ups and wellness programsFinancial Protection: Protects your savings from being depleted by unexpected medical emergencies and the rising cost of healthcare.
Comprehensive Coverage: Most plans cover a wide range of expenses, including:
In-patient hospitalization (room rent, ICU, doctor fees, etc.)
Pre- and post-hospitalization expenses (diagnostics, consultations, medicines)
Daycare procedures (treatments under 24 hours)
Ambulance charges
Alternative treatments like AYUSH (Ayurveda, Yoga, Unani, Siddha, and Homeopathy)
Annual health check-ups and wellness programsFinancial Protection: Protects your savings from being depleted by unexpected medical emergencies and the rising cost of healthcare.
Comprehensive Coverage: Most plans cover a wide range of expenses, including:
In-patient hospitalization (room rent, ICU, doctor fees, etc.)
Pre- and post-hospitalization expenses (diagnostics, consultations, medicines)
Daycare procedures (treatments under 24 hours)
Ambulance charges
Alternative treatments like AYUSH (Ayurveda, Yoga, Unani, Siddha, and Homeopathy)
Tax Benefits
Lifelong Renewability
Key Features and Benefits
Premiums paid for health insurance are eligible for tax deductions under Section 80D of the Income Tax Act, 1961, which can help reduce your tax liability.
No Claim Bonus (NCB)
Lifelong Renewability
Lifelong Renewability
A reward, such as a discount on the renewal premium or an increase in the sum insured, for not making any claims during the policy year.
Lifelong Renewability
Lifelong Renewability
Lifelong Renewability
Most policies offer lifetime renewability, ensuring continuous coverage as you age and become more susceptible to health issues.
Types of Plans
Types of Plans
Types of Plans
Individual Health Insurance: Provides coverage for a single person.
Family Floater Plan: Covers the entire family (spouse, children, parents) under a single policy, sharing a common sum insured.
Senior Citizen Health Insurance: Specialized plans designed for individuals over 60 years of age, often covering age-related and pre-existing conditions after a waiting period.
Critical Illness Insurance: Provides a lump-sum payout upon diagnosis of a life-threatening illness (e.g., cancer, stroke, heart attack), regardless of the actual medical expenses.
Top-Up/Super Top-Up Plans: Offer additional coverage once the sum insured of your primary health plan is exhausted, usually at a lower premium.
Group Health Insurance: Typically offered by employers to their employees as a benefit.
At Investment Point, our mission is to provide comprehensive insurance solutions tailored to your needs. We aim to ensure that every client receives the best protection through our range of life and general insurance products.
Protect your assets with INVESTMENT POINT
Welcome to INVESTMENT POINT Insurance
At INVESTMENT POINT, we believe in providing top-notch insurance services to our clients since 2009. We are committed to providing a range of insurance products that cater to your needs and budget. Our team of experienced professionals is always ready to assist you in finding the perfect insurance plan that suits your requirements. With INVESTMENT POINT, you can rest assured that your insurance needs are in safe hands.
INSURANCE
Insurance is a financial arrangement where an individual or entity, the policyholder, agrees to pay regular premiums to an insurance company, the insurer, in exchange for financial protection against specific risks. Essentially, insurance allows individuals to transfer the risk of financial loss to the insurer, who promises to compensate the policyholder in the event of a covered loss.
Risk Transfer
Insurance is a way to manage financial risks by transferring them from the individual to the insurance company.
Financial Protection
In exchange for the premiums, the insurer agrees to provide financial assistance when a covered loss occurs.
Types of Insurance
There are various types of insurance, such as life insurance, health insurance, property insurance, auto insurance, and more.
Premiums
The money paid by the policyholder to the insurer for coverage is called the premium.
Claims
When a covered loss happens, the policyholder files a claim with the insurer to receive the agreed-upon compensation.
Legal Contract
Insurance is a legally binding contract between the policyholder and the insurer.
Mitigating Financial Hardships
Insurance helps mitigate financial hardships that can arise from unexpected events, such as accidents, illnesses, or property damage.
Life Insurance
Term insurance
Provides coverage for a specific period (e.g., 10, 20, or 30 years), offering a lump sum payout if the policyholder dies during that term.
For example:
Name - Abcd
Age - 30
SA - 5000000
Term - 40years
PPT - 15years
Premium
YEARLY - 18113 (15350+2763)
Totally you pay in 15 years-Rs.271695
Natural Risk Cover-Rs.5000000
Accidental Risk Cover-Rs.5000000
Whole Life Insurance
Offers lifetime coverage as long as premiums are paid, with the potential for a cash value to grow over time.
For example:
proposer details
Name - Abcd
Age - 30
SA - 1000000
Term - 70
PPT - 15
First Year Premium
MONTHLY - 7045 (6742+303)
Renewal Premium
MONTHLY - 6894 (6742+152)
Returns
In case of death at Age 80 nominee will receive - Rs.7457000
From Age 45-100(till survives) payable per annum - 80000
Sum Assured - 1000000
Bonus - 3990000
FAB - 3550000
Maturity(At Age:100) - 8540000
Total Prem - 1216708
Endowment Plans
Provide both insurance coverage and investment benefits, with payouts either at the end of the policy term or upon the policyholder's death.
For example:
Name - Abcd
Age - 30
SA - 1000000
Term - 16
PPT - 10
MONTHLY - 7633 (7304+329)
Renewal Premium
MONTHLY - 7468 (7304+164)
Returns
Bonus - 640000
FAB - 25000
Maturity - 1665000
Total Premium deposited - 879622
Child Plans
Specifically designed to provide financial protection for a child's future.
For example:
Proposer Age - 30
Child Name - Abcd
Child Age - 0
SA - 1000000
Term - 25
PPT - 20
First Year Premium
MONTHLY - 3829 (3664+165)
Renewal Premium
MONTHLY - 3746 (3664+82)
Returns
Child Age 25th yr - 2575000
Total Premium - 879807
Total Returns - 2575000
Pension Plans
Designed to provide a regular income during retirement.
For example:
Proposer details
Name - Abcd
Age - 30
SA - 1000000
Premium
Single Premium - 1018000
Pension
YEARLY - 64700
HALF YEARLY - 31750
QUATERLY - 15739
MONTHLY - 5217
Maturity - 902169
Money-Back Policies
Offer regular payouts to the policyholder during the policy term, in addition to a final payout.
Name - Abcd
Age 25
SA- 1000000
Policy Term - 25
PPT - 20
1st Year Premium
MONTHLY - 5243(5017+226)
2nd year onwards
MONTHLY - 5130(5017+113)
Returns
Age:30 - Rs.150000
Age:35 - Rs.150000
Age:40 - Rs.150000
Age:45 - Rs.150000
From Age:50-64 - Rs.154390
Total Premium Rs.1206546
Total Returns Rs.2915850
Natural Risk Cover - Rs.1291000-Rs.2500000
Accidental Risk Cover - Rs.1291000-Rs.2500000
You can take the loan also.
Unit-Linked Insurance Plans (ULIPs)
Combine life insurance with investment opportunities, allowing policyholders to invest in various funds.
For example:
Name - Abcd
Age - 30
Sum Assured - 600000
Policy Term - 10
PPT - 10
Initial NAV - 10%
Minimum Growth NAV - 13%
Total Premium - Rs.600000
Total Returns - Rs.1062642
Sip
SIP stands for Systematic Investment Plan. It's a way to invest in monthly mode. This approach helps investors build wealth gradually over time and overcome the challenge of trying to time the market.
Documents are required for insurance
Key documents include identity proof, address proof, income verification, age proof, and medical records. Special cases, such as for NRIs or senior citizens, may require additional documents.
General insurance
General insurance covers financial losses related to assets like homes, vehicles, health, and travel, excluding life-related risks. It provides compensation for damages or losses caused by events like fire, theft, accidents, or natural disasters. Common examples include motor, health, and travel insurance.
Key aspects of general insurance
- Non-life focus: It deals with risks related to property, vehicles, and health, rather than life itself.
- Asset protection: It protects against financial losses to insured assets.
- Compensation for damages: It provides financial compensation for losses or damages incurred due to various events.
- Financial protection: It helps mitigate the financial impact of unforeseen circumstances.
- Various types: Includes motor, health, travel, and home insurance, among others.
Examples of general insurance policies
- Motor Insurance: Protects vehicles against damage or loss from accidents, theft, or natural disasters.
- Health Insurance: Covers healthcare expenses for medical emergencies.
- Travel Insurance: Provides compensation for medical and on-medical emergencies during travel.
- Home Insurance: Covers property damage or loss due to fire, theft, or other events.
Riders
In insurance, "riders" are optional add-on benefits that can be added to a base insurance policy to provide additional coverage and tailor the policy to specific needs. They offer protection beyond the standard policy and can be purchased for a small additional premium.
What they are
- Additional Benefits: Riders are not a part of the basic policy but are added separately.
- Customization: They allow you to customize your coverage to address specific concerns, such as critical illness, accidental death, or disability.
- Enhanced Coverage: Riders help you expand your insurance coverage for a nominal extra cost.
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