LIC’S JEEVAN AKSHAY- VI (UIN: 512N234V06)
(A Single Premium Non-Linked, Without-Profit, Immediate Annuity Plan)
1. Introduction
It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for
annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the
type and mode of payment of annuities.
2. Options Available
The following options are available under the plan
A) Type of Annuity:
i) Annuity payable for life at a uniform rate.
ii) Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
iii) Annuity for life with return of purchase price on death of the annuitant.
iv) Annuity payable for life increasing at a simple rate of 3% p.a.
v) Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on
death of the annuitant.
vi) Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on
death of the annuitant.
vii) Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on
death of annuitant. The purchase price will be returned on the death of last survivor.

You may choose any one. Once chosen, the option cannot be altered.
B) Mode:
Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of
payment of Annuity.
3. Benefits
The amount of annuity is assured throughout life of the annuitant.
What happens if the annuitant dies?
If the annuitant dies:
a) Under option (i) annuity ceases.
b) Under option (ii)
1. On death during the guaranteed period – annuity is paid to the nominee till the end of the guaranteed
period after which the same ceases.
2. On death after the guaranteed period – annuity ceases.
c) Under option (iii) annuity ceases and the purchase price is paid to the nominee.
d) Under option (iv) annuity ceases.
e) Under option (v) annuity ceases and 50% of the annuity is payable to the surviving named spouse during
his/her life time. If the spouse predeceases the annuitant, the annuity ceases.
f) Under option (vi) annuity ceases and full annuity is payable to the surviving named spouse during his/her
life time. If the spouse predeceases the annuitant, the annuity ceases.
g) Under option (vii) annuity ceases. Full annuity is payable to the surviving named spouse during his/ her life
time and purchase price is paid to the nominee after the death of the spouse. If the spouse predeceases
the annuitant, the annuity ceases and purchase price will be paid to the nominee.
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When first instalment of annuity payable:
First instalment of annuity is payable after one month, three months, six months or one year from the date of
purchase of annuity depending on the mode chosen is monthly, quarterly, half yearly or yearly respectively.
4. Salient features
i) Premium is to be paid in a lump sum.
ii) Minimum purchase price: Rs.1,00,000/- for all distribution channels except online.
Rs.1,50,000/- for on line sale.
iii) No medical examination is required under the plan.
iv) No maximum limits for purchase price, annuity etc.
v) Minimum age at entry: 30 years (completed).
vi) Maximum age at entry:
100 years (completed) for annuity option “Annuity for life with return of purchase price on death of the
annuitant”.
85 years (completed) for all annuity options other than “Annuity for life with return of purchase price on death of
the annuitant”.
vii) Age proof necessary.
5. Annuity Rate
Indicative amount of annuity payable at yearly intervals which can be purchased for Rs. 1 lakh under different
options is as under. However the actual annuity rate will be as prevailing at the time of purchase.
Age last
birthday
Yearly annuity amount under option
( i ) ( ii ) (15 years
certain)
( iii ) ( iv ) ( v ) ( vi ) (vii)
30 6490 6470 6150 4640 6380 6270 6130
40 6820 6770 6190 5010 6620 6430 6150
50 7470 7300 6240 5690 7090 6740 6190
60 8700 8170 6320 6930 7990 7390 6240
70 11410 9250 6440 9600 9910 8750 6340
80 17160 9880 6620 15190 13930 11720 6470
6. Incentives for high purchase price
Incentive for higher purchase price by way of increase in the annuity rate is as under:
Mode of
Annuity
Purchase price (in Rs.)
250,000 to
499,999
500,000 to
749,999
750,000 to
999,999
10,00,000 &
above
Yearly 3.75 4.00 4.30 4.35
Half Yearly 3.45 3.70 4.00 4.05
Quarterly 3.35 3.60 3.90 3.95
Monthly 2.90 3.50 3.80 3.90
In addition to the above, for policies sold online, a rebate of 1% by way of increase in the annuity rate shall also be
available.
7. TAX
Statutory Taxes, if any, imposed on such insurance plans by the Govt. of India or any other
constitutional Tax Authority of India shall be as per the Tax laws and the rate of tax as applicable from
time to time.
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The amount of applicable taxes, as per the prevailing rates, shall be payable by the policyholder on
purchase price payable under the policy, which shall be collected separately over and above in addition
to the purchase price payable by the policyholder.
The amount of Tax paid shall not be considered for the calculation of benefits payable under the plan.
8. Paid-up value
The policy does not acquire any paid-up value.
9. Surrender Value
Surrender shall be allowed after completion of atleast one policy year only for Annuity Option – “Annuity for life with
return of purchase price on death of the annuitant” under any of the following circumstances.
A. If the annuitant is diagnosed as suffering from any of the following critical illnesses:
1. Cancer of specified severity
2. Myocardial infraction
3. Open Chest CABG
4. Open Heart Replacement or Repair of Heart Valves
5. Kidney Failure requiring regular dialysis
6. Stroke resulting in Permanent Symptoms
7. Major Organ/Bone Marrow Transplant
8. Permanent Paralysis of Limbs
9. Motor Neurone Disease with Permanent Symptoms
10. Multiple Sclerosis with Persisting Symptoms
11. Angioplasty
12. Benign Brain Tumor
13. Blindness
14. Deafness
15. End stage Lung failure
16. End stage liver failure
17. Loss of speech
18. Loss of Limbs
19. Major Head Trauma
20. Primary(Idiopathic)Pulmonary Hypertension
21. Third Degree Burns
The standard definition of the critical illnesses mentioned above shall be as per the IRDAI guidelines on
Standardisation in Health Insurance Ref: IRDA/HLT/REG/CIR/146/07/2016 dated 29/07/2016 or as
amended from time to time.
B. If the annuitant is shifting to another country permanently as evidenced in their visa or citizenship
documents.
The surrender value payable shall depend on the age (last birthday) of the policyholder at the time of surrender of
the policy.For all annuity options other than “Annuity for life with return of purchase price on death of the
annuitant” surrender shall not be allowed in any case.
10. Loan
No loan will be available under the policy.
11. Free Look Period
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to us within 15
days (30 days if this policy is purchased online) from the date of receipt of the Policy Bond stating the reasons of
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objections. On receipt of the policy we shall cancel the same and the amount of premium deposited by you shall
be refunded to you after deducting the charges for stamp duty and annuity paid, (if any).
SECTION 45 OF THE INSURANCE ACT, 1938:
The provision of Section 45 of the Insurance Act, 1938 shall be as amended from time to time. The simplified
version of this provision is as under:
Provisions regarding policy not being called into question in terms of Section 45 of the Insurance Act, 1938, as
amended by Insurance Laws (Amendment) Act, 2015 are as follows:
1. No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 yrs from
a. the date of issuance of policy or
b. the date of commencement of risk or
c. the date of revival of policy or
d. the date of rider to the policy
whichever is later.
2. On the ground of fraud, a policy of Life Insurance may be called in question within 3 years from
a. the date of issuance of policy or
b. the date of commencement of risk or
c. the date of revival of policy or
d. the date of rider to the policy
whichever is later.
For this, the insurer should communicate in writing to the insured or legal representative or nominee or assignees of
insured, as applicable, mentioning the ground and materials on which such decision is based.
3. Fraud means any of the following acts committed by insured or by his agent, with the intent to deceive the insurer or
to induce the insurer to issue a life insurance policy:
a. The suggestion, as a fact of that which is not true and which the insured does not believe to be true;
b. The active concealment of a fact by the insured having knowledge or belief of the fact;
c. Any other act fitted to deceive; and
d. Any such act or omission as the law specifically declares to be fraudulent.
4. Mere silence is not fraud unless, depending on circumstances of the case, it is the duty of the insured or his agent
keeping silence to speak or silence is in itself equivalent to speak.
5. No Insurer shall repudiate a life insurance Policy on the ground of Fraud, if the Insured / beneficiary can prove that
the misstatement was true to the best of his knowledge and there was no deliberate intention to suppress the fact
or that such mis-statement of or suppression of material fact are within the knowledge of the insurer. Onus of
disproving is upon the policyholder, if alive, or beneficiaries.
6. Life insurance Policy can be called in question within 3 years on the ground that any statement of or suppression of
a fact material to expectancy of life of the insured was incorrectly made in the proposal or other document basis
which policy was issued or revived or rider issued. For this, the insurer should communicate in writing to the insured
or legal representative or nominee or assignees of insured, as applicable, mentioning the ground and materials on
which decision to repudiate the policy of life insurance is based.
7. In case repudiation is on ground of mis-statement and not on fraud, the premium collected on policy till the date of
repudiation shall be paid to the insured or legal representative or nominee or assignees of insured, within a period
of 90 days from the date of repudiation.
8. Fact shall not be considered material unless it has a direct bearing on the risk undertaken by the insurer. The onus
is on insurer to show that if the insurer had been aware of the said fact, no life insurance policy would have been
issued to the insured.
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9. The insurer can call for proof of age at any time if he is entitled to do so and no policy shall be deemed to be called
in question merely because the terms of the policy are adjusted on subsequent proof of age of life insured. So, this
Section will not be applicable for questioning age or adjustment based on proof of age submitted subsequently.

LIC’s NEW CHILDREN’S MONEY BACK PLAN (UIN: 512N296V01)
LIC’s New Children’s Money Back Plan is a participating non-linked money back
plan. This plan is specially designed to meet the educational, marriage and other needs
of growing children through Survival Benefits. In addition, it provides for the risk
cover on the life of child during the policy term and for number of survival benefits on
surviving to the end of the specified durations.
The plan can be purchased by any of the parent or grand parent for a child aged 0 to 12
years.
1. Benefits:
Death benefit:
On death of the Life Assured before the stipulated Date of Maturity provided the
policy is in full force, then
On death of the Life Assured before the date of commencement of risk: Return of
premium/s excluding taxes, extra premium and rider premium, if any.
On death after the date of commencement of risk:
Death benefit, defined as sum of “Sum Assured on Death” and vested Simple
Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where
“Sum Assured on Death” is defined as Higher of 10 times of annualized premium
or Absolute amount Assured to be paid on Death i.e. Basic Sum Assured.
This death benefit shall not be less than 105% of the total premiums paid as on date
of death.
The premiums mentioned above exclude taxes, extra premium and rider premium,
if any.
Survival Benefit: On the Life Assured surviving the policy anniversary coinciding
with or immediately following the completion of ages 18 years, 20 years and 22
years, 20% of the Basic Sum Assured on each occasion shall be payable, provided
the policy is in full force.
Maturity Benefit: On the Life assured surviving the stipulated date of maturity,
provided the policy is in full force, Sum Assured on Maturity ( which is 40% of the
Basic Sum Assured) along with vested Simple Reversionary Bonuses and Final
Additional Bonus, if any, shall be payable.
Participation in Profits: The policy shall participate in profits of the Corporation
and shall be entitled to receive Simple Reversionary Bonuses declared as per the
experience of the Corporation, provided the policy is in full force.
Final Additional Bonus may also be declared under the policy in the year when the
policy results into a claim either by death or maturity.
2. Optional Benefit:
a) Option to defer the Survival Benefit(s): The policyholder will have option to take
the survival benefit at any time on or after its due date but during the currency of
the policy. In case of deferment of a due survival benefit (s) opted by the
policyholder, the Corporation will pay increased survival benefit (s) equal to
Survival Benefits % * Sum Assured * (Factor applicable to Survival Benefit (s))
These factors are enclosed as Annexure I.
This option shall be required to be intimated in writing by the policyholder six
months before the due date of the Survival Benefit to the servicing branch of
policy.
b) LIC’s Premium Waiver Benefit Rider (UIN: 512B204V01): LIC’s Premium Waiver
Benefit Rider is available as an optional rider on the life of proposer aged
between ages 18 to 55 years by payment of additional premium. In case of death
of the proposer, the premiums under the basic plan falling due after the date of
death shall be waived. The cost of medical and special reports shall be borne by
the proposer. This rider shall not operate in the event of death of the proposer by
his own hands whether sane or insane within 12 months from the date of
issuance of First Premium receipt or within 12 months from the date of revival.
For more details on the above rider, refer the rider brochure or contact LIC’s
nearest Branch Office

Family Floater plan

A single policy that secures the hospitalisation expenses of your entire family excluding dependent Parents. The floater health plan covers your entire family under one policy with one sum insured and one premium. Insurance Solution  is the right palace for sugges most suitable plan for you.

  Eligibility

• Dependent Parents or in-laws can not be covered in this policy.
• Parents can cover children up to 25 years old in this policy.
• The insured needs to be between 3 Months – 76 years of age
• Age is calculated as on the date the policy is issued ( It will be age completed on last birthday)

  Highlights

• You can buy Health Insurance & get tax benefit on the premium paid under section 80D of the Income Tax Act
• Sum insured in a floater policy is shared across family members
• It is less expensive than Individual Policy.
• Floater policy is good for young family with low health risk.
• You can buy Comprehensive health insurance policy that covers you, your spouse and 4 dependent children up to the age of 25 years.
• You can increase the sum insured only at the time of renewal of the insurance policy, subject to company approval.
• You can get reimbursement for pre- and post-hospitalization medical expenses incurred towards the ailment/ disease for which hospitalization was medically necessary prior to hospitalization and after discharge.
• Pre-existing disease means a disease or a condition existing in a person before the acceptance of the risk by Insurance Company. The insured or a person buying the policy may or may not be aware of these conditions.
• A waiting period is the length of time the insured may have to wait before being eligible for Health Policy benefits.
• You get up to 10% cumulative bonus for every claim-free year accumulating upto 50% in certain policies.
• You can save up to 25 percent by comparing plans offered by different companies

 Day-Care Treatment

• Coverage for treatment where the insured person requires less than 24 hours of hospitalisation due to advanced technology
• Subject to treatment or surgeries listed in the policy document

 Domiciliary Hospitalization

Policy covers expenses incurred towards treatment administered at home, in case of below mentioned reasons:

• Patient’s medical condition restricting him/her from being shifted to hospital
• Lack of accommodation in any hospital or nursing home

Donor Expenses

• We will cover you for the expenses incurred by the donor in case of major organ transplant (available only under Gold and Silver Plans)

Value Added Cover

• Nursing Allowance for a maximum period of five days, on recommendation of the treating Medical Practitioner
• Expenses for domestic road ambulance services to the nearest hospital
• Expenses of an accompanying person at the Hospital/Nursing Home for a maximum of five days
• Reimbursement of cost of health check-up after four claim-free renewals​​​

Renew Up to Age

Most insurance firms have set age limits up to which you can renew your health policy in India. Once you crossed that age limit, then mediclaim policies cannot be renewed.

Premium Saving Tips

It is good to buy health insurance cover at early age because the premium starts to increase with age. Select the option of annual premium payment to save on costs and compare quotes from best general insurance companies in India. Online medical insurance comparison offers complete information about different insurance products.

Critical illness cover offers protection against loss of income on diagnosis of Cancer, Heart Attack, Kidney Failure, Paralysis, Bypass Surgery, Major Organ Transplant, Stroke, Multiple Sclerosis or Heart Valve Replacement Surgery. If you have a rider and diagnosed with critical illnesses, then policyholder get a greater cover at less expensive costs. In case of a separate critical cover, you need to pay the due treatment amount in lump sum only if diagnosed with a critical illness.

What is Critical Illness insurance?

Critical Illness insurance typically makes a lump sum cash payment for covered illnesses such as heart attack, stroke, and cancer.

How is a Critical Illness Plan different from a traditional health insurance plan?

Traditional health insurance reimburses the insured, or provider, for covered medical services, procedures, equipment, etc.

A Critical Illness Plan pays you directly in the event that you are diagnosed with a covered critical illness.

How is a Critical Illness claim paid?

If you have a claim, a Critical Illness policy pays you a lump-sum benefit. Payments can be used for things such as:

–   Medical expenses
–   Lost time at work for insured and family
–   Child care expenses
–   Travel expenses for insured and family

Why buy Critical Illness insurance?

Although medical insurance is essential, it may not cover everything. In the event of a serious illness such as heart attack or stroke, a critical illness insurance payout can help ease the financial burden so you can focus on your recovery. Benefits are paid in addition to your existing coverage and there are no co-pays or deductibles.

Individual Health Insurance

If something unexpected happens to you – like a car accident or a serious illness – hospital expenses can quickly rack up. Individual health insurance can help prevent staggering expenses if you face a medical emergency. Major medical insurance is a type of coverage that provides benefits for a broad range of health-care services, both inpatient and outpatient. This health insurance can save you money on routine doctor’s visits, prescription drug coverage, preventative care and other medical services. The plan will typically come with costs such as a monthly premium, an annual deductible, copayments, and coinsurance.

Some of the factors that may influence the cost of your plan are your age and your tobacco use. Almost anyone can purchase an individual or family health insurance plan.

Accident Cover

Accident Insurance

Why accident insurance?

Because accidents happen when you least expect them. Even with health insurance, the extra expenses from an accidental injury can really add up. Lost wages from missing work, high health insurance deductibles and unpaid bills all affect your lifestyle, home and family. And because 67% of  Indians have less than Rs10000 In their savings accounts, many don’t have financial help during times like these.

What is accident insurance?

Accident Insurance, also known as supplemental accident insurance or personal accident insurance, pays benefits for accidental injuries.

Consider the affect a common accident may have on your financial picture. Because you never know when you or someone in your family could get hurt In an accident, an accident insurance policy can be helpful when the unexpected happens.

Rahul’s Story

Rahul bike ride In the park turns serious when he gets into an accident and fractures his arm. He Is taken by ambulance to the hospital where he has surgery to repair the fracture. His total medical expenses are Rs.25000/-.

Rahul has limited savings, but because Rahul has an Accident Insurance policy by general Insurance Company, he pays a Rs 1500 deductible and then receives Rs 23500 out of his chosen plan’s Rs.25000/- calendar year benefit level to help with his covered medical costs. His savings are not used, and Rahul can pay for the care he needs.

Commercial Vehicle

Commercial Vehicle Insurance

What is Commercial Vehicle Insurance?

A commercial vehicle helps run your business smoothly, and any damage/theft to the vehicle may lead to huge financial loss to your business. In order to cope-up with this uncertainty, you need to have a right insurance for your commercial vehicle. Commercial Vehicle Insurance is specially designed to provide cover against damage/ loss to your vehicle, or any third party liability that may occur due to the fault of your vehicle. Getting commercial vehicle insurance is also mandatory on legal grounds under the Motor Vehicles Act, 1988. Commercial vehicles include those which are used for commercial purposes, such as buses, vans, taxis, school buses, trucks, mini trucks, cranes, Loader, Excavator, etc.

Why should I Buy Commercial Vehicle Insurance?

If you are running a business and having a commercial vehicle, it is quite important to buy commercial vehicle insurance. Here are some top reasons to buy Commercial Vehicle Insurance.

Legal Protection

Having a valid commercial vehicle insurance confirms that you are abiding by the law. By buying a suitable commercial vehicle insurance, you stay protected against any third party liability that may arise due to bodily injury/ property damage caused to the other vehicle.

No Financial Worries

By choosing a commercial vehicle insurance, you do not have to pay for the third party liability or costs that may incur due to your bodily injury or any damage caused to your commercial vehicle. Buying a comprehensive commercial vehicle insurance provides you a complete cover and let you drive your business vehicle worry-free.There are times, when business vehicles carrying precious goods are wrecked or robbed during transit. A commercial vehicle insurance provides coverage against the financial loss occurred in such scenarios.

Employee Protection

Your commercial vehicle insurance helps you pay for your employees, in case your employee becomes injured driving the business vehicle during the working hours. It covers legal liability against death and/or injury caused to the passengers by your own vehicle.

Pays for Vehicle Repairs

With commercial vehicle insurance, you can get the costly repairs for your vehicle all at affordable cost or free of cost under the scope of your policy. By getting vehicle repairs on-time, you can easily maintain the resale value of your vehicle.

Cashless Network Garages

Insurers have tied up with the workshops/garages known as network garages to provide the cashless facility for the policyholders for the repairs done under the scope of coverage in different cities and towns.

What kinds of Commercial Vehicle Insurance can I opt from?

Basically, there are two types of Commercial Vehicle Insurance.

1. Liability Only Policy/ Third Party Commercial Vehicle Insurance

This commercial vehicle insurance provides cover against any liability towards property damage and bodily injury/ death caused to a third party. Some Insurers also provide cover for Owner/driver in case of accidental death, and personal total disability.

2. Comprehensive/ Package Commercial Vehicle Insurance

You never know when a vehicular accident may occur and for this, you need to ensure that you are completely covered against any loss/damage. With a Package Commercial Vehicle Insurance, your vehicle is covered for,

Third Party Liability

This component of the policy covers third party bodily injury/death and property damage to any third party.

Own Damage

This component of the policy covers damage/loss caused to your vehicle under natural calamities which includes fire, lightning, flood, hurricane, storm, tempest, inundation, cyclone, hailstorm, typhoon,frost, landslide, rockslide, explosion fire and shock damage due to earthquake and Man-made Calamities which includes burglary, housebreaking, theft, riot or strike, accident by external means, malicious act, terrorist activity and damage during travel by road, rail, inland-waterway, or air.

What are the Benefits of Buying a Commercial Vehicle Insurance?

It’s important to assess the benefits of commercial vehicle insurance and then choose an insurance policy that offers protection for your business vehicle. Here are the key benefits of a commercial vehicle insurance.

Cover for Third Party Liability

Getting a commercial vehicle insurance provides protection against legal liability to the third party resulting from bodily injury, death and property damage. A third party coverage helps you pay off the legal expenses for any third party liability which includes bodily injury or property damage.

Cover for Own Damage

Under comprehensive commercial vehicle insurance policy, any damages mentioned under the scope of policy coverage is indemnified to the policyholder which could be man made damage or damage by natural calamities.

Medical Payments Coverage

A commercial vehicle insurance also provides cover against medical expenses that are incurred due to your bodily injury caused by vehicular accident, irrespective of who is found at fault.

Avail Add-on Coverage

With a commercial vehicle insurance, you can also include add-on covers such as zero depreciation, personal accident coverage for owner/driver, and many others to enhance the scope of coverage.

No Claim Bonus

Insurers also offer a No Claim Bonus (NCB) protection that you can avail for claim free policy years for your commercial vehicle which will result in a decrease in premium for renewal year.

Is there any Add-on Cover/Rider with Commercial Vehicle Insurance?

Add-on covers/Riders are additional benefits provided over and above to your base insurance policy. Following are the add-on covers, that are available with the commercial vehicle insurance.

1.    Legal Liability to Passengers

This add-on provides coverage against bodily injury/death caused to the passengers (fare and non fare paying passengers) present in your commercial vehicle at the time of the accident.

2.    Zero-depreciation

When you raise claims, insurers usually pay for the depreciated value of the replaced vehicle parts. However, by choosing the zero depreciation (Nil Depreciation) cover, you become eligible to receive the full claim amount for the damaged vehicle parts. With this add-cover, there is no need to worry about the depreciation component.

3.    Roadside Assistance

Have you ever faced a situation with your commercial vehicle running out of fuel, breakdown, or other technical issues? You are stuck there, when there is no service center or any other assistance. Choosing roadside assistance cover with your vehicle insurance is the answer. This add-on cover provides you the swift services such as fuel refill, battery jump-start, flat tire change, towing, spare key arrangement, and many more.

4.    Personal Accident Cover

This add-on provides cover for owner and driver in case of accidental death, Permanent Total Disablement, Permanent Partial Disablement, and Temporary Total Disablement.

5.    Accessories Cover

This add-on cover pays for loss/damage to accessories fitted in the vehicle, including stereos, fans, and others. You may ask your insurer to ascertain which accessories are covered under the vehicle insurance.

6.    Coverage for Vehicle Consumables

Engine oil, nut and bolt, washers, etc. are utilized for repairing the vehicles. By choosing this add-on cover, you are reimbursed for the cost of these consumables.

     7.    Towing Charges Coverage

In case your business vehicle met with an accident in a manner that it cannot be driven on its own and requires towing, then the cost incurred in towing is covered under this add-on cover.

What is Not included in my Commercial Vehicle Insurance?

The commercial vehicle insurance does not provide cover under the following circumstances:

1. Mechanical and electrical breakdown
2. Failure or breakage
3. Wear & tear
4. Consequential loss
5. Any accidental loss, damage or liability incurred outside the permitted geographical region
6. Loss/Damage when driving under the influence of alcohol
7. Loss/Damage when driving with an invalid driving license
8. Loss due to war, mutiny or nuclear risk
9. Claims that don’t come under the terms of the insurance contract
10. Use of vehicle for a purpose not mentioned in the policy document
11. Employee(s) of the Insured other than the owner/driver of the commercial vehicle

If you care about your two wheeler, you need two wheeler insurance. This insurance ensures that during loss, calamity, accident, etc. all costs involved are covered by your insurance.One of the primary reasons one should buy two wheeler insurance is to protect oneself from third party liability cost. This basically means that if there is injury or loss of life during an accident, all costs involved (both injury and repairs) will be covered by insurance. Also, two wheeler insurance offers risk coverage towards physical injury as while driving a two wheeler the rider and driver are both more exposed to danger than in a four wheeler. Moreover, in India having two wheeler or four wheeler insurance is compulsory (Motor Vehicles Act)

There are generally two types of policies:

1. comprehensive ones that cover against all type of wear and tears to the vehicle and its riders
2. liability -only policies that cover only against injuries arising from third party.

 Opt for the Long Term Two Wheeler Insurance policy:

1. One time premium for 3 years.
2. Lock-in the same Third-Party rates for 3 years.
3. Long Term discounts.

What is covered under your two wheeler insurance policy:-

• Loss or damage to your vehicle against natural calamities -Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
• Loss or damage to your vehicle against man-made calamities -Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.
• Personal Accident Cover -Coverage of ₹ 1 lakhs for the individual driver of the vehicle while travelling, mounting or dismounting from the  ​Two Wheeler. Optional personal accident covers for co-passengers are also available.
• Third Party Legal Liability -Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property.

What is not covered under your two wheeler insurance policy:-

• Normal wear-and-tear of the vehicle
• Mechanical and electrical breakdown
• Vehicle being used other than in accordance with the limitations as to use. For example, if you use your two-wheeler for remuneration purposes
• Damage to / by person driving without a valid driving license
• Loss or damage caused while riding under the influence of alcohol or any other intoxicating substance
• Loss or damage due to depreciation of the vehicle’s value
• Consequential loss – if the original damage causes subsequent damage / loss, only t​he original damage will be covered
• Compulsory deductibles – a fixed amount that gets deducted at the time of the bike or scooter insurance claim
• Damage to Tyres & Tubes unless the vehicle insured is damaged at the same time in which case the liability of the Company shall be limited to 50% of the cost of replacement​
• Loss or damage to the accessories by burglary housebreaking or theft unless the vehicle is stolen at the same time​

Get Great Rates on Car Insurance and Still Get Great Service

We understand that there are dozens of options to chosse from when it comes to auto coverage.  Several companies claim to save you tons of money on car coverage but the fact is many of the top insurance companies have less than a 5% difference in premium based on similar coverage features.

Car Insurance or motor insurance covers for losses that you might incur if your car gets damaged or stolen. The premium amount of your car insurance is decided on the basis of Insured Declared Value or IDV of the vehicle. If you increase the IDV, the premium rises and if you lower it, the premium reduces. It is important for any policyholder to compare various options before going for a car insurance renewal or buying a new policy.

1) Third Party Car Insurance – Only Covers for loss or damage incurred to co-passenger or property other than Owner. Unpopular and generally avoidable as it does not cover loss, damage and theft of car.

2) Comprehensive Policy – Third Party Cover + Coverage against loss, damage and theft of Asset i.e Car + Personal Accident Cover to Owner Driver

3) Zero Dep Insurance (Also Known as Bumper to Bumper Car Insurance ) – Comprehensive Car Insurance Policy + Added Depreciation Cover +Tyre Cover+Engine Cover (Hydorstatic Cover)+Consumables Cover+ Key-Replacement Cover+Hotel Accomdation Cover+Road Side Assistance Cover+Personal Belongings Cover+Return to Invoice Cover .

In Zero Dep Car Policy – All Plastic, Fibre, Rubber and Metal Parts are covered at its 100% of the actual price without any depreciation cut. Also, includes cover on – Emergency Transport and Hotel Expenses, Key Replacement Its a highly popular plan prevailing across new car buyers.