In today’s age of consumerism, insurance requirements have expanded to keep pace with the increasing risks. Gone are the days when life insurances ruled the roost; today we have a wide assortment of risk coverage commencing from health insurance to travel insurance to theft insurance to even a wedding insurance. With affluence and spending capacity on the surge there is a growing trend to fulfill needs, deal with responsibilities and secure one’s possessions, be it good health or wordly wealth.
General insurance products and services are being offered as package policies offering a combination of the covers mentioned above in various permutations and combinations. There are package policies specially designed for householders, shopkeepers, industrialists, agriculturists, entrepreneurs, employees and for professionals such as doctors, engineers, chartered accountants etc. Apart from standard covers, General insurance companies also offer custom made based on the personal requirements of the customer.
A suitable general insurance cover is an absolute essential for every family. This is a necessity to overcome uncertainties and risks prevalent in life. It is also necessary to protect one’s property against risks as a loss or damage to one’s property can leave one in doldrums.
Losses created by catastrophes such as the tsunami, earthquakes, cyclones, floods, volcano eruptions or landslides have left many penniless and shelter-less. Such losses have the potential to shatter lives but availing a suitable insurance cover could help mitigate the unforeseen risks.
Similarly, an individual can be provided with a suitable insurance cover against Personal Accidents. A Health Insurance policy can provide financial relief and lowering of mental agony to an individual undergoing medical treatment on account of a disease or an injury.
It is important for prospective customers to read and understand the terms and conditions of a policy before they enter into an insurance contract. The proposal form needs to be filled in correctly and completely with all factual and relevant data by the customer. He must also ensure that the insurance cover is adequate and an appropriate one, as desired.