Insurance Services at Investment Point
Expert Guidance for Life Insurance and General Insurance Solutions
DEALS IN ALL GOVERNMENT AND PRIVATE COMPANIES
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Expert Advice
Our team of insurance experts, with over 17 years of combined experience in general insurance, is here to answer your questions, provide advice, and guide you through the insurance process, including tailored life insurance solutions.
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.
In India, two-wheeler insurance is a mandatory requirement under the Motor Vehicles Act, 1988. This form of general insurance provides essential financial protection against third-party liabilities and, depending on the type of insurance solutions you choose, can also cover damage to your own vehicle caused by accidents, theft, or natural calamities.
Types of Two-Wheeler Insurance
There are three primary types of general insurance 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 is part of the insurance solutions landscape, covering 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, much like life insurance, which provides security for your future.
Key Coverage, Benefits and Popular Add-On Covers
A comprehensive two-wheeler policy generally falls under general insurance and provides coverage for: Damage due to accidents, fire, and theft. Losses from natural calamities such as floods, earthquakes, cyclones, etc., as well as man-made calamities like riots, strikes, and malicious acts. Third-party legal liabilities including bodily injury, death, and property damage are also included. Additionally, a mandatory Personal Accident (PA) Cover for the owner-driver, typically up to ₹15 lakhs, is provided in case of accidental injury or death. Furthermore, you can benefit from cashless repairs at the insurer's wide network of authorized garages across the country, a convenient feature of insurance solutions. You can enhance this comprehensive policy with optional add-ons for an additional premium: Zero Depreciation Cover, which ensures you receive the full claim amount for replaced parts without deductions for depreciation. Roadside Assistance offers 24x7 support for breakdowns, flat tyres, battery jump-starts, and towing services. Engine Protection Cover addresses the repair or 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 guarantees that in the event of total loss or theft, you get the original on-road purchase price of the bike, not just its depreciated market value (IDV). Lastly, No Claim Bonus (NCB) Protection allows you to retain your accumulated NCB discount even after making a claim, providing an added benefit to your insurance solutions.
Protect Your Medical Expense Today
HEALTH INSURANCE
How Health Insurance Works
How Health Insurance Works
Health insurance is a crucial financial contract that falls under general insurance, covering your medical expenses in exchange for regular premium payments. This type of coverage protects your savings from high and unexpected healthcare costs. With a policy in place, the insurer provides insurance solutions that include costs related to hospitalization, treatments, surgeries, and other health-related services based on the policy terms. Additionally, it's essential to consider life insurance as part of your overall financial strategy.
How Health Insurance Works
How Health Insurance Works
How Health Insurance Works
The health insurance process, a crucial aspect of general insurance, typically involves three main components: Premium Payment, Coverage, and the Claims Process. Premium Payment entails paying a regular amount (monthly or annually) to the insurance company to keep your policy active. This premium amount is determined by various factors such as your age, medical history, location, and the level of coverage chosen, which are vital insurance solutions for your needs. Coverage means that in return for your premium, the insurer agrees to cover eligible medical expenses up to a predetermined maximum limit, known as the sum insured. Finally, when you need medical care, you can utilize one of two claim processes: Cashless Facility or Reimbursement. With the Cashless Facility, if you receive treatment at a hospital within the insurer's network, the insurer settles the medical bills directly with the hospital, meaning you do not have to pay large amounts upfront. Alternatively, with Reimbursement, if you receive treatment at a non-network hospital, you first pay the bills yourself 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: General insurance solutions protect your savings from being depleted by unexpected medical emergencies and the rising cost of healthcare. Comprehensive Coverage: Most plans, including life insurance options, cover a wide range of expenses, such as: 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), and annual health check-ups and wellness programs.
Tax Benefits
Lifelong Renewability
Key Features and Benefits
Premiums paid for health insurance, including various general insurance options, are eligible for tax deductions under Section 80D of the Income Tax Act, 1961. This can help reduce your tax liability while exploring comprehensive insurance solutions like life insurance.
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 can be a valuable aspect of general insurance. This approach is part of various insurance solutions, including life insurance policies, that incentivize policyholders for their claim-free year.
Lifelong Renewability
Lifelong Renewability
Lifelong Renewability
Most general insurance policies offer lifetime renewability, ensuring that you have continuous coverage as you age and become more susceptible to health issues, providing essential life insurance solutions.
Types of Plans
Types of Plans
Types of Plans
Individual Health Insurance: This type of coverage is designed for a single person, offering tailored insurance solutions to meet their unique health needs. Family Floater Plan: This policy covers the entire family—including spouse, children, and parents—under one plan, sharing a common sum insured for added convenience. Senior Citizen Health Insurance: These specialized plans cater to individuals over 60 years of age, often including coverage for age-related issues and certain pre-existing conditions after a waiting period. Critical Illness Insurance: This provides a lump-sum payout upon diagnosis of a life-threatening illness, such as cancer, stroke, or heart attack, irrespective of the actual medical expenses incurred. Top-Up/Super Top-Up Plans: These offer additional coverage once the sum insured of your primary health plan is exhausted, usually at a lower premium, making them a smart choice for comprehensive health coverage. Group Health Insurance: Commonly provided by employers as a benefit, group health insurance offers valuable general insurance solutions to their workforce.
At Investment Point, our mission is to provide comprehensive insurance solutions tailored to your needs. We strive to ensure that every client receives the best protection through our diverse range of life insurance and general insurance products.
Protect your assets with INVESTMENT POINT
Welcome to INVESTMENT POINT Insurance
At INVESTMENT POINT, we believe in providing top-notch general insurance services to our clients since 2009. We are committed to offering a variety of insurance solutions that cater to your needs and budget. Our team of experienced professionals is always ready to assist you in finding the perfect life insurance plan that suits your requirements. With INVESTMENT POINT, you can rest assured that your insurance needs are in safe hands.
Life Insurance
Term insurance
This life insurance policy provides coverage for a specific period, such as 10, 20, or 30 years, offering a lump sum payout if the policyholder dies during that term. This is one of the essential insurance solutions available under general insurance. For example: Name - Abcd, Age - 30, Sum Assured (SA) - 5000000, Term - 40 years, Premium Payment Term (PPT) - 15 years. The yearly premium is 18113 (15350+2763), leading to a total payment of Rs. 271695 over 15 years. The natural risk cover is Rs. 5000000, and the accidental risk cover is also Rs. 5000000.
Whole Life Insurance
This life insurance policy offers lifetime coverage as long as premiums are paid, with the potential for a cash value to grow over time, making it one of the comprehensive insurance solutions available.
For example:
Proposer details:
Name - Abcd
Age - 30
Sum Assured - 1000000
Term - 70
Premium Payment Term - 15
First Year Premium:
MONTHLY - 7045 (6742+303)
Renewal Premium:
MONTHLY - 6894 (6742+152)
Returns:
In the unfortunate event of death at Age 80, the nominee will receive - Rs.7457000.
From Age 45-100 (until survival), payable per annum - 80000.
Sum Assured - 1000000.
Bonus - 3990000.
FAB - 3550000.
Maturity (At Age: 100) - 8540000.
Total Premium - 1216708.
Endowment Plans
This life insurance policy provides both insurance coverage and investment benefits, offering payouts either at the end of the policy term or upon the policyholder's death. This insurance solution ensures financial security while also serving as a valuable investment.
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
This financial protection plan is specifically designed to secure a child's future, making it one of the essential insurance solutions. For example: Proposer Age - 30, Child Name - Abcd, Child Age - 0, Sum Assured (SA) - 1000000, Term - 25 years, Premium Payment Term (PPT) - 20 years. The first-year premium for this life insurance policy is as follows: MONTHLY - 3829 (3664+165). For the renewal premium, it will be: MONTHLY - 3746 (3664+82). By the time the child reaches 25 years of age, the returns would amount to 2575000. The total premium paid would be 879807, resulting in total returns of 2575000.
Pension Plans
Designed to provide a regular income during retirement through effective insurance solutions.
For example:
Proposer details
Name - Abcd
Age - 30
SA - 1000000
Premium
Single Premium - 1018000
Pension
YEARLY - 64700
HALF YEARLY - 31750
QUARTERLY - 15739
MONTHLY - 5217
Maturity - 902169
This approach can be part of a broader life insurance strategy, ensuring financial stability in your retirement years.
Money-Back Policies
This life insurance policy offers 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
In addition to these life insurance benefits, you can also access general insurance solutions and take a loan if needed.
Unit-Linked Insurance Plans (ULIPs)
Combine life insurance with investment opportunities, providing policyholders the chance to invest in various funds while enjoying comprehensive insurance solutions.
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, a method of investing in a monthly mode. This approach not only helps investors build wealth gradually over time but also allows them to complement their financial strategies with various insurance solutions, including general insurance and life insurance, thus overcoming the challenge of trying to time the market.
Documents are required for insurance
Key documents for obtaining general insurance include identity proof, address proof, income verification, age proof, and medical records. Additionally, for specific insurance solutions, special cases such as NRIs or senior citizens may require additional documents, particularly when considering life insurance.
General insurance
General insurance offers comprehensive insurance solutions to cover financial losses related to assets such as homes, vehicles, health, and travel, while excluding life-related risks like those covered by life insurance. It provides compensation for damages or losses resulting from events like fire, theft, accidents, or natural disasters. Common examples of general insurance include motor, health, and travel insurance.
Key aspects of general insurance
Non-life focus: General insurance addresses risks associated with property, vehicles, and health, rather than life itself. Asset protection: It offers insurance solutions to safeguard against financial losses to insured assets. Compensation for damages: General insurance provides financial compensation for losses or damages resulting from various events. Financial protection: It helps mitigate the financial impact of unforeseen circumstances. Various types: This includes motor, health, travel, and home insurance, among others, but does not cover life insurance.
Examples of general insurance policies
Motor insurance is a key component of general insurance, protecting vehicles against damage or loss from accidents, theft, or natural disasters. Health insurance is another vital part of comprehensive insurance solutions, covering healthcare expenses for medical emergencies. Travel insurance provides compensation for both medical and non-medical emergencies during travel, ensuring peace of mind. Home insurance also falls under the umbrella of general insurance, covering property damage or loss due to fire, theft, or other unforeseen events.
Riders
In general insurance, 'riders' are optional add-on benefits that can be included in a base insurance policy, allowing for customized insurance solutions that cater to specific needs. These riders offer additional protection beyond the standard life insurance policy and can be acquired for a modest extra premium.
What they are
Additional Benefits: Riders are not part of the basic life insurance policy but are added separately. Customization: They allow you to customize your general insurance coverage to address specific concerns, such as critical illness, accidental death, or disability. Enhanced Coverage: Riders help you expand your insurance solutions for a nominal extra cost.
Honesty builds trust and strengthens relationships, which is essential in the world of general insurance and the various insurance solutions available, including life insurance.
