March 8, 2019 Last updated March 3rd, 2019 1,391 Reads share

Why Should You Invest in General Insurance Policies?

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Life is risky and you do not know under which situation you would get stuck. The uncertainty of life has proven to be a big problem. If any problem increases, you may get stuck really bad. Thus, the concepts of the policies have been introduced in the market to ease the life of people. Most of these insurances help to cover the charges caused due to any uncertain activity. You can contact the different agencies and get yourself one insurance too. New India Insurance Company has been offering a wide range of general insurance policies for the benefit of its customers.


What is general insurance?

The aim of general insurance is to protect the customers and the valued things from any significant risks. They help to prevent risk factors such as travel problems, theft, flood, fire, accidents and more. Sometimes, general insurance may also save you from the potential risk of damage due to legal actions. Thus, just by knowing the significant features, the customers have the liability to choose any plan of their choice. New India Insurance allows you to choose the policy that can help to cover the risks you wish to cover.


In case you choose an insurance policy, you will either be required to pay on a monthly basis or annual basis. This money is usually collected from different policyholders. Further, the money is transferred to the pool of funds. There may be few cases in which you will be required to withdraw the money. However, if you need the money in case of being hit by any uncertain event, the money collected can actually help you. You can apply for the withdrawal and the amount which you have saved up till date in the pool of funds will be given to you.


What are the features of general insurance?

The general insurance offered by the New India Insurance Company has the following features


  • The insurance policy usually lasts for a period of one year or shorter.
  • If you undergo any kind of total loss, the general insurance may either be terminated or ended completely.
  • Life insurance offers returns. However, general insurance does not. The general insurance only covers up for the cost by offering protection to your belongings.
  • The different kinds of Insurance have been made compulsory over time by the government.
  • You may need to come up for the deductibles since it is in the policy terms.
  • You will need to pay the premium in advance and installment feature isn’t allowed.


What will be covered under the insurance policies?

The agency, New India Insurance helps to offer protection to all the valuables of your life in case of theft, loss or damage. Some of the prominent things that are usually covered in the general insurance offered by New India Insurance Company include property, health, vehicles and household goods. In case you’ve been stuck in any legal situation, your general policy would still hold to be valid offering you protection against the situation.


Why should you sign up for the general insurance?

Why? Because why not! The general insurance helps to protect all your essentials. It is like security to your belongings which you need. Initially, you may have a doubt about it, but you should totally consider investing some amount on the general insurance. To get the general insurance you can contact the agency New India Insurance.


Security and Assurance

This happens to be one of the valid reasons why you should be getting general insurance. You need to understand the benefits that the general insurance would be offering to you, your family and belongings. Thus, investing in the policy will make you satisfied that you are secure. Also, you will have the assurance that you and your belongings are protected against the risk of any potential damage. The policy agents from the New India Insurance Company will help you understand the pros of getting this policy.


Lifelong security

Unlike life insurances, the general insurances aren’t long. It is short and compact. However, you won’t receive any fund in case you haven’t suffered from any damage. But, to ensure the safety of your belongings, you can choose to renew your plan from time to time.


Debt issues

In case you suffer from any debts, the New India Insurance will make sure that you get to clear all your debts using the general insurance policy. If you suffer from any financial problems, it will easily get covered by the insurance. Thus, you won’t need to get stuck in a situation where you will be held liable for your financial disabilities. With the help of general insurance, you will never have to face any such day. There is a list of general insurances that will help you in repaying the debts.


Offers a wide range of options

Through general insurance, you will quite a good number of deals as well as profits for other policies. Your New India Insurance agent would guide you about the policies that you can buy and sell. If you invest in any of the property and cover it in the term period, you will get to enjoy all the benefits of it. Therefore, it is a great deal for investing for a long time thereby helping you to get things. It is easy if you begin sooner since you will get more option to enjoy. Therefore, it proves to be a great tool for benefit and advantage.


Mental peace

Your mental peace can be disrupted by a lot of activities. Too much of stress can harm your mental peace thereby throwing you into a risk of depression. You will not be able to avoid any unexpected situation but if you have the general insurance you will be at peace. The general insurances offer great peace of mind. You will have financial security and have the option for being stable. Thus, you will be saved against the risk of any substantial damage.


Tax Benefits

Your New Insurance India Company’s agent would definitely tell you about the tax benefits that you will get to enjoy due to the general insurance. If you pay for the insurance, it is a deduction to your tax amount. As a result, the payable tax amount decreases to a significant extent on the yearly basis.


The minimum amount for deduction is INR 25000 and can be extended till INR 30000 for the senior citizens. Nonetheless, in the Budget presented during the 2018 session, the amount for deduction in case of senior citizens, the deduction amount has been increased to Rs 50000.


If an individual owning a business is paying tax for him and his senior citizen parents, he will be able to save Rs 75000 as tax deduction amount. Nonetheless, in this case, he will be required to have general insurance. Thus, you can contact the New India Insurance Company and ask them about the tax deduction you will be able to save due to the general insurance. You can also inquire about the other tax benefits that you will be getting with the insurance.


How much insurance will you need?

It is very essential to figure out the total coverage for each of the general policy. If you are getting any valuable asset insured, you will first need to determine its market value. This will help you to reach a proper conclusion of how many sums you will be getting insured. For this, you can contact the New India Insurance agent who can help you with your doubts. If the sum insured isn’t up to the mark, you will have to pay for the percentage of the uncovered portion. This is why you should first discuss all the requirements and doubts before applying for the insurance.


What will you need to pay and to whom?

If you’re thinking that you will be required to pay any additional charges, you’re wrong. You will only require to pay the premium for the policies. This, however, you can choose whether you want to pay on the monthly basis or on the yearly basis. If you’re getting the insurance from New India Insurance, you will be required to either pay them directly. You can even call for the agent from the New India Insurance Company and pay them the charge. The other options that you will have to pay for the insurance include the insurance broker, insurance marketing firms or to any corporate agent. You can also pay the insurance online. Once you complete the payment you will be given the acknowledgment receipt.


General Insurance is required on the day to day basis and helps to offer protection to your various things. You will need to have properly check with your insurance companies to understand the working of the policies. As long as you grow old, you will need to have mental peace which can be offered to you by the insurance. Thus, it helps to reduce the risk of potential damage and lessen your stress. It is one prominent step towards protecting the valuables. Also, you can consult with the New India Insurance Company.

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Sunil Verma

Sunil Verma

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