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Hello friends, nowadays everything is being insured. And in many countries including India, insurance has become a compulsion. So do you know what exactly is insurance and why is insurance being given so much importance?

If you are looking for a better understanding of Insurance then you have come to the right place. we this article “What is Bima? What is Insurance? and Types of Insurance” I have brought all the information related to insurance by presenting it for you. You will be able to know Bima Kya Hai and how many types of insurance are there in this article, so read the article till the end.

What is Insurance?(Bima Kya hai) What is Insurance in Hindi

Insurance is an agreement between the policyholder and the company that gives the assurance of a certain financial assistance in case of an accident that may happen. To take insurance, you have to pay that insurance company regularly in monthly or yearly or half-yearly period till you suffer an accident or the term of insurance is over.

Types of Insurance in India

There are two types of insurance in India

  1. General Insurance
  2. Life Insurance Policy / Life Insurance

What is General Insurance or General Insurance? What is General Insurance

General Insurance What is insurance?  What is General Bima?

General insurance is any type of insurance that is not life insurance. General insurance covers the following types of accidental accidents:

  1. Health Insurance Health Insurance
  2. Automobile Insurance Automobile Insurance
  3. Home Insurance Home Insurance
  4. Fire Insurance Fire Insurance
  5. Travel Insurance Travel Insurance

1. What is health insurance?/What is Health Insurance?

In case of any health problem except the death of the policy holder, the policy holder bears certain medical expenses. Such medical expenses are reimbursed or paid directly by the insurance company.

Health insurance covers the following types of expenses:

  1. admitted to hospital
  2. Treatment
  3. Medical bills after hospitalization
  4. Normal day care expenses during the period of hospitalization

types of health insurance

  • Individual Health Insurance: Individual health insurance only protects the policyholder and not his dependents or family members.
  • Family Floater Insurance: Family floater insurance covers all the family members of the policy holder. Generally family members mean husband wife and children.
  • Critical Illness Cover: This type of health insurance provides for some specific health problems like cancer, brain stroke, kidney failure etc.
  • Health Insurance of Employees: It is also called group health insurance. This type of health insurance is provided by the employer for the benefit of its employees.
  • Accident Insurance: This type of insurance covers expenses arising out of fatal accidents.

2. What is Automobile Insurance?

Motor insurance is helpful in insuring the expenses arising out of a motor vehicle accident.

Types of Motor Insurance:

The different types of motor insurance are as follows-

  1. car insurance
  2. bike insurance
  3. commercial vehicle insurance
  • Car Insurance: Car insurance is helpful for car accident expenses. Car insurance covers only four wheelers and neither more nor less. There are two types of car insurance. One is third party insurance and the other is comprehensive cover policy.
  • Bike Insurance: The bike is insured for the expenses arising out of bike accidents. The only condition for this insurance is that the bike should be owned by only one person.
  • Commercial Vehicle Insurance: This type of insurance is done for business purposes. Business organizations often use vehicles to transport raw materials and finished goods and accidents are a common occurrence for them. This type of insurance is helpful to cover such problems.

3. What is Home Insurance?/Home Insurance What is it

Home insurance is done to protect the house from natural calamities such as fire or earthquake and flood. Some companies also provide protection against man-made threats like robbery.

  • Types of Home Insurance: There are following types of home insurance:
  • Home Structure Insurance: This insurance is claimed when the house is destroyed due to any agreed reason.
  • Public Liability Coverage: This type of insurance is helpful to cover damages caused to third parties who were inside the building at the time of construction.

Standard Fire and Special Paris Policy:-

This type of insurance helps to cover the loss caused due to any natural calamity. Examples of some such problems are jade land slides, fires and earthquakes.

  • Hazard Insurance: This insurance covers loss due to dacoity or theft.
  • Contents Insurance: This insurance covers damages caused to the property inside the house like furniture, television, computer, fridge etc.

4. What is fire insurance?/What is fire insurance

Fire insurance helps to cover the loss due to accidental fire. Generally the premium for such insurance is high. The cover is also bigger as compared to the premium paid. Usually this type of insurance is carried by large corporations.

There are different types of fire insurance. Some of them are as follows:

  1. valued policy
  2. specific policy
  3. floating policy
  4. conclusive policy
  5. replacement policy
  6. Comprehensive Fire Insurance Policy

5. Travel Insurance What is Travel Insurance?

Travel insurance helps to cover losses due to accidental accidents while traveling within or outside India. Such policies cover lost luggage, flight cancellations, lost passports, and personal and emergency medical conditions.

There are different types of travel insurance.

  • Domestic Travel Insurance: This type of insurance covers the loss incurred while traveling within the country.
  • International Travel Insurance: This type of insurance is applicable only if a person meets with an accident while traveling outside India.
  • Personal Travel Insurance: This type of travel insurance only covers accidents on a solo trip.
  • Student Travel Insurance: This insurance is applicable only if a student meets with an accident while traveling for study purposes.
  • Senior Citizen Travel Insurance: This insurance is applicable in case of accidents with senior citizens. Senior citizens means people in the age group of 60 to 70 years.
  • Family Travel Insurance: This type of insurance covers damages caused when the family is involved in an accident during a holiday trip.

life insurance policy or life insurance What is? (JIban Bima/Life Insurance)

Life Insurance Policy- Life Insurance

Life insurance is the insurance that on the death of the policyholder, his family is provided with a pre-determined amount. There are many types of life insurance, some of which are important insurance plans.

To know more about life insurance What is a Life Insurance Policy? Read the post

Types Of Life Insurance

There are following types of life insurance

  1. Term Life Insurance
  2. Whole Life Insurance
  3. Endowment Life Insurance
  4. Unit-Linked Insurance Plan
  5. Child Plan
  6. Pension Plan

What is term life insurance?/What is Term Life Insurance

There is no maturity benefit in term life insurance. Under this policy, the policyholder is compensated for the damages only when he dies on time. Term insurance is cheap and at the same time gives more cover at work premium.

Whole Life Insurance

Whole life insurance is the insurance on which protection is given to the policyholder for a long time. Under this policy, the policyholder gets a cover of up to 100 years. The specialty of this plan is that extended insurance is available on it, which means that you just have to pay premium for 10 or 15 years but you will not stop getting the death benefit. If you live to 100 years, then the premium money is returned to you as per the endowment cover.

Endowment Life Insurance/Endowment Plans

In endowment plans, you are given maturity benefits after maturity. If the policyholder dies prematurely, then they get the death benefit. Endowment policy is better for those who do not know how to invest money in the right place and they have to invest along with insurance. Endowment plan gives you the facility of both.

Unit Linked Insurance Plan

This plan is also somewhat similar to endowment. In this plan also you can take insurance along with investment. But in this plan you get more flexibility to invest. Here you can choose for yourself where you will invest.

Child Plan

This plan has been made for those who have to add some money for the future of their children. If something happens to you, then your children get this money, as well as your children keep moving forward in life, children also get some rewards. The special thing about this plan is that you can also pick up money whenever you want.

Pension Plan

This plan is only one type of investment. In this, to protect your old age, you keep investing regularly in 1 fund, which gives a big return due to the longer stay. Provident funds are also included under this, where both the employer and the policyholder make small investments. It is called insurance because sometimes in this type of death benefit is also available.

Conclusion

Hope after reading this article you must have understood why insurance is so important. Have you got yourself insured? If yes then you are a sensible person and if not then get insurance as soon as possible because life is an unpredictable thing. Do you know what will happen when…

you this article “What is Bima? What is Insurance? and Types of Insurance” How did you like it, do share your opinion with us and don’t forget to share the new article Thanks.

My salute to all, we have brought a detailed information of Pradhan Mantri Jeevan Jyoti Bima Yojana for you. this article PMJJBY Scheme Details In Hindi | Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana In this, you will be able to know what is the Prime Minister’s Life Insurance Scheme and what benefits are available in this scheme and along with it you will also know how to apply in this scheme.

So read this article thoroughly to get information about Pradhan Mantri Jeevan Jyoti Bima Yojana.

What is PradhanMantri Jeevan Jyoti Bima Yojana? PMJJBY Scheme Details in Hindi

PMJJBY Scheme Details in Hindi

This Jeevan Jyoti Bima Yojana gives the facility of insurance to those who have a bank account and have got the facility of auto debit in the same bank account. Under this scheme ₹330 per annum will be automatically debited as premium. In case of death of the insured due to any reason, his family will get Rs 2 lakh.

LIC and other life insurance companies are also offering this scheme. This scheme is available only through the bank.

Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana:

  • At the time of death, the policyholder gets a death benefit of up to Rs 2 lakh.
  • It is a 1 term insurance policy and hence no survival or maturity benefit is given.
  • The premium paid under this scheme is exempted from income tax under section 80C.
  • The policyholder is given a maturity period of 1 year but they are also given the option to extend this period.
  • The premium of this scheme is very less which can be easily paid by even a common poor person.
  • The policyholder will neither have to visit any bank nor the insurance company’s office to pay the premium. The premium money is automatically deducted from the account of the policyholder.

How to apply Pradhan Mantri Jeevan Jyoti Bima Yojana? Pradhan Mantri Jeevan Jyoti Bima Yojana Online Apply Kaise Kare

Follow the following steps to apply for Pradhan Mantri Jeevan Jyoti Bima Yojana:

Step 1- Go to any nearby bank or insurance company office and ask for the application form for this policy.

Step 2- If you want to register online then you can fill the application form online by visiting Insurance section in Internet Banking.

Step 3- Be online or fill all the information sought in the online application form, as well as attach the necessary documents with the form.

Step 4- After filling the form, you can directly pay the premium fee.

Step 5- After paying the premium, you will get a receipt, keep the reference number given on it.

What are the documents required for Pradhan Mantri Jeevan Jyoti Bima Yojana eligibility?

You need only 2 documents to take this policy.

  • Aadhar card
  • policy form

Which banks are giving these benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana?

  • Allahabad Bank
  • Axis Bank
  • bank of india
  • Bank Of Maharashtra
  • Bhartiya Mahila Bank
  • Canara Bank
  • central bank
  • Union Bank
  • Dena Bank
  • federal bank
  • HDFC Bank
  • ICICI Bank
  • IDBI Bank
  • Indusind Bank
  • Kerala Gramin Bank
  • Kotak Bank
  • Oriental Bank of Commerce
  • Punjab And Sind Bank
  • Punjab National Bank
  • South Indian Bank
  • State Bank Of Hyderabad
  • State Bank Of India
  • State Bank Of Travancore
  • Syndicate Bank
  • UCO Bank
  • United Bank Of India
  • Vijay Bank

What is the process to claim Pradhan Mantri Jeevan Jyoti Bima Yojana? Pradhan Mantri Jeevan Jyoti Bima Yojana Claim Form Kaise Milega

Pradhan Mantri Jeevan Jyoti Bima Yojana Claim Form

Step 1- The policyholder will have to visit the office of the same bank or insurance company from where he had purchased this plan.

Step 2 –Fill out the insurance claim form. Generally, name, address, contact details, hospital details are all asked for in the form. This form can also be downloaded for free from this link.

https://jansuraksha.gov.in/Forms-PMSBY.aspx

Step 3- After filling this form, attach the disability certificate or death certificate on it. And pay it at the office of the bank or insurance company.

Step 4- Office officials will verify these details. Wait till verify.

Step 5- After all the details are verified, the claim amount will be credited to your account.

  • If you want to know what is a life insurance policy, then definitely read this post.
  • What if you have Bima Kya Hai Health Insurance? then read this post
  • If you want to know what is Health Insurance then definitely read this post.

conclusion

Hope you have understood well about Pradhan Mantri Jeevan Jyoti Bima Yojana. if you like this article “PMJJBY Scheme Details In Hindi | Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana” If you liked it, then do tell by commenting and don’t forget to share the article thank you.

Nowadays, there is a plethora of term insurance products readily available in the market with different terms and conditions. When it comes to making an informed choice, customers are expected to devote enough energy and time to make the right selection of the product. In addition, the product may not be of use to us due to insurance money. So for this we have brought this post for you, so that you do not have any problem in choosing it.

Hello friends, the name LIC is known to everyone from children to old people of India. Almost every Indian citizen is insured by LIC. LIC offers almost every type of insurance and one of them is LIC Saral Life Insurance. If you are interested to know about LIC Saral Life Insurance then you have come to the right place.

you in this article “What is Saral Life Insurance Plan? LIC Saral Jeevan Bima Yojana 2021 and Benefits of Insurance Scheme? If you can get information like etc., then definitely read this article till the end.

What is Saral Life Insurance Plan? Saral Jeevan Bima Yojana in Hindi

Saral Jeevan Bima Yojana is a term life insurance plan. This insurance plan is 1 non linked and non participating insurance plan. If anyone wants to take this plan, then they can go to the offline office or take it online.

What is a term insurance plan?

What is Saral Life Insurance Plan

This insurance plan offers the highest insurance cover at a very affordable premium. There is no death maturity on this plan. This plan is very cheap, which many insurance companies sell. LIC’s Saral Jeevan Policy is also one such plan.

Death benefit is available in 2 ways. Those who use a single premium policy are given 125% of the premium amount along with an assured death benefit. Those who pay regular premiums get the benefit of Assured Benefit along with the maximum premium of the last 10 premiums as Death Benefit.

What is LIC Saral Life Insurance Plan? Basic Information of LIC Saral Life Insurance Plan – LIC Saral Jeevan Bima Yojana 2021

The following basic information should be known before buying LIC Saral Life Insurance

  • People below 18 years cannot buy this plan.
  • People cannot buy this plan after 65 years of age.
  • The term of this plan ranges from 5 to 40 years.
  • Its premium can be paid in 1 year, in 6 months, in 1 month or in 1 month and all the premiums can also be paid.
  • Riders cannot take this plan.
  • There is no extra benefit of maturity.
  • This plan does not cover suicide.
  • In this policy, no loan can be taken by pledging the policy.
  • The waiting time of this plan is up to 45 days after the risk.
  • The waiting time is not valid after the policy is revived.
  • This plan also covers accidental death.
  • This plan also gets deduction in income tax under the premium section 80C.

Benefits of simple life insurance

  • death benefit
  • maturity benefit
  • large sum insured discount
  • Premium payment options
  • premium payment mode

Benefits of LIC Saral Life Insurance

The government has not put any restriction on the death benefit of LIC Saral Jeevan Bima. But LIC has fixed the rasi of 25 lakhs. One can avail death benefit up to 50 lakhs on offline term plans of LIC but the online term plan also known as Saral Bima policy is providing cover up to 25 lakhs only. If someone wants the assured benefit up to 25 lakhs, this plan will be very beneficial for him.

Process to apply offline for Saral Life Insurance

  • Visit the office of any insurance company nearby.
  • Request for Saral Bima K Application Form.
  • Along with completing the application form, attach the required documents.
  • Submit the application form to the officer in charge of the insurance company.
  • After all the verification is done, you will be informed about it.

online application process for simple life insurance

  • Visit the website of the insurance company of your choice.
  • Search for Life Insurance Plans on the homepage.
  • Click on Saral Bima Yojana under Life Insurance Plans.
  • Fill all the requested information and upload some documents which have been asked in digital format.
  • After filling the complete form click on submit.
  • After verification, you will get the notification.

What are the documents required to avail Saral Jeevan Bima?

  • Signed Proposal Form
  • KYC Documents (Aadhaar, Voter Card, Pan Card, etc.)
  • salary slip
  • passport size photograph
  • medical examination report

  • What if you have Mutual Funds? If you want to know then definitely read this post
  • If you want to know what is Health Insurance then definitely read this post.
  • What if you have Bima Kya Hai Health Insurance? then read this post

FAQ

What are the general features of Saral Jeevan Bima Yojana?

This insurance plan is accessible to policyholders between the age of 16 to 65 years. Under this insurance, the plan automatically terminates when the buyer reaches the age of 70 years. The policy has a minimum term of 5 years and a maximum term of 40 years and in this insurance plan the minimum amount is 5 lakhs and the maximum amount is up to 25 lakhs.

Can Saral Life Insurance Plans Be Purchased Online?

Yes, you can buy this insurance online as well. If you buy the plan online, a discount of 20% will be given in the premium. In addition, people will be able to evaluate various policies, prices and benefits from the convenience of their homes.

Does Saral Life Insurance Plan offer tax benefits?

When you buy simple life insurance, you will get both life cover and tax benefits. Simple life insurance premiums paid under Section 80C of the Income Tax Act of 1961 will be tax-deductible and in addition, the death benefits paid to the beneficiary are tax-free under Section 10(10D) of the Act.

Conclusion

Buying simple life insurance is as easy as buying any general insurance. I hope this article “What is Saral Life Insurance Plan? LIC Saral Jeevan Bima Yojana 2021 and Benefits of Insurance Scheme? You must have got specific information about Saral Jeevan Bima Yojana.

If you liked this article, then do tell by commenting and share the article thank you.