General insuranceor non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance.
Commercial lines products are usually designed for relatively small legal entities. These would include workers’ compensation (employers liability), public liability, product liability, commercial fleet and other general insurance products sold in a relatively standard fashion to many organisations. There are many companies that supply comprehensive commercial insurance packages for a wide range of different industries, including shops, restaurants and hotels.
Personal lines products are designed to be sold in large quantities. This would include autos (private car), homeowners (household), pet insurance, creditor insurance and others.
Types of general insurance
General insurance can be categorised in to following:
- Motor Insurance: Motor Insurance can be divided into two groups, two and four wheeled vehicle insurance.
- Health Insurance: Common types of health insurance includes: individual health insurance, family floater health insurance, comprehensive health insurance and critical illness insurance.
- Travel Insurance: Travel insurance can be broadly grouped into: individual travel policy, family travel policy, student travel insurance, and senior citizen health insurance.
- Home Insurance: Home insurance protects a house and its contents.
- Marine Insurance: Marine cargo insurance covers goods, freight, cargo, and other interests against loss or damage during transit by rail, road, sea and/or air.
- Commercial Insurance: Commercial insurance encompasses solutions for all sectors of the industry arising out of business operations
View Premium Tables in Health & accidental Insurance for different Insurance Companies
Critical Care Policy covers 9 Critical Illnesses, Accidental Death and Permanent Total Disablement (PTD).
Health Advantage Plus Policy It includes Basic Hospitalization cover and Outpatient Department Cover. There is Fixed Premium Rs. 15,000 or Rs. 20,000 (for senior Citizens).
Family Floater Policy The floater health plan covers your entire family under one policy with one sum insured and one premium.
Personal Accident Policy It covers you against Accidental Death, Permanent Total Disablement (PTD) and Permanent Partial Disablement (PPD)TATA-AIG
Accident Guard Policy It covers you against accident; the plan can be taken in multiple units of Rs. 10 lacs up to Rs. 1 crore.
Secured Future Plan There is a Guaranteed monthly income upto 20 years incase of an unfortunate accident.
Hospital Care It is that plan which takes care of all your expenses arising due to unforeseen hospitalization expenses due to accident.
Critical Care The Plan provides lump sum cash benefit on the Diagnosis of one of the defined Critical Illnesses.
Maharaksha It pays Cash benefit for injuries like fractures, burns, dislocations or internal injuries; which might not need hospitalization.
Cholamandlam General Insurance
Basic Health cover It covers you in an unfortunate event when you or your family members meet with an illness or accident resulting in hospitalization.
Basic + Extra Health Cover It covers you in an unfortunate event when you or your family members meet with an illness or accident resulting in hospitalization.
Health Guard Policy It covers emergency ambulance charges, pre and post hospitalization expenses and provides cashless benefit.
Hospital Cash Policy Apart from Cash benefit for Hospitalization, Dependent spouse and children are also covered under this policy.
Critical Illness Policy This plan covers you against 10 critical diseases
Personal Guard Policy Personal Guard is a policy that covers the insured against bodily injury or death caused due to accidents.
Silver Health Policy This Health Insurance plan is for Senior Citizens which is eligible from 46 to 70 years
Medi Premium A policy that provides additional lump sum payment in case of diagnosis of certain illnesses during the policy term.
True Value It is designed to offer health insurance to the masses and the premium would depend on the age of the person proposed for the insurance.
Medi Classic It aims to provide compensation of hospitalization expenses incurred as a result of illness/disease/sickness and/or accidental injuries.
Compare Family Health Insurance Plans
|Coverage||ICICI- LOMBARD||Bajaj-Allianz||Royal Sundaram||Reliance General Insurance||Star Health||Cholamandalam|
|Family Floater||Star Package||Health shield||Health Wise policy||Family Health Optima||Chola Family Insurance Plan|
|Pre & Post Hospitalization Expenses||30 days prior and 60 days after hospitalisation||60 days prior and 90|
days after hopitalization
|30 days prior and 60 days after hospitalization.||Reliance Standard: 30 days prior and 60 days after hospitalization,|
Reliance Silver: 60 days prior and 90 days after hospitalisation
|30 days prior and 7% of the hospitalisation expenses in Post hospitalization, max up to Rs. 5000||60 days prior and 90|
days after hospitalization
|Room & Boarding Expenses||Covered No limit||Covered, No Limit||Reimbursment up to 1.5%||Covered||It ranges from Rs. 500-Rs. 1500 depending on the city||Rs. 1500-Rs. 3000|
|Pre-existing diseases||Covered after 4th year||Covered after 4th year||Covered after 4th year||Reliance Silver – Covered after 2nd year|
Reliance Standard- Covered after 4th year
|Eligibility||Senior most family member: 19 – 60 years (Renewable till of 70 years)|
Others members: less than 19 years
|18 yrs – 55 yrs (Renewable till of 70 years)|
Children 3 yrs – 5 yrs if both the parents are insured, 6yrs – 18 yrs if one parent is insured.
|Self, Spouse and dependant parents up to the age of 50 years and dep children(91 days- 18 yrs)||3months – 65 years.||5 months – 60 years||up to 55 yrs for proposer|
and 65 for parents
|Cashless Facility||over 3500 network hospitals in India||over 2400|
hospitals in India
|over 2000 hospitals in India||Over 4,300 hospitals in India.||–||over 1300 hospitals in India|
|Bonus||sum assured increases by 5% every claim free year upto a maximum of 50% of original sum assured.||5%||Limit shall be increased by 5% every year,|
max up to 10 years
|5% on every claim renewal max up to 50%||No||–|
|Family Discount||–||10-15% long term discount, if policy is taken for 2 or more years||10% for covering 3|
or more family members
|Reliance Silver: up to Rs 750|
Reliance Standard: up to Rs 500
|10% discount on|
Premium on the renewal of the policy in the claim free year
|5% for 2 People,|
10% for 3 or more peopple
|Ambulance Charges||Covered No Limit||covered emergency|
charges (upto Rs 1000)
|covered from Rs 500 to Rs1000||750, max up to 1500||coverage for expenses incurred|
on it to nearest hospital up to Rs 1000/-
|Health Check-up||Above 55 years||Above 45 years||Above 50 yrs||Above 45 yrs||Above 60 yrs||–|
|Cost of Health Check up||Free health check-up coupon for any one insured family member.||yes,reimburse max up to Rs 1000/- after 4 claim free years||yes, reimburse max up to Rs 750/- after 5 claim free years||free Check up after 4 claim-free renewals.||–||reimburse the exp incurred|
for general health and
|Sum-Assured||2 lakh to 4 lakhs||0.5 lakhs to 10 lakhs||1.5 lakhs to 5 lakhs||2 lakhs to 5 lakhs||1 lakh to 5 Lakhs||2 lakhs to 10 lakhs|