In this article, we’ll explore the pros and cons of buying multiple-term insurance policies, and explain what you need to know if you decide to go ahead with this strategy.

Term Insurance Policy And Its Benefits – A Brief Overview

If you’re thinking of buying life insurance, then you should definitely consider term insurance. It’s a type of life insurance plan that offers many benefits, including financial protection in case of any unexpected situations. 

Term insurance can be bought for a range of durations (from 10 years to 30 years), and it comes with premiums that depend on the policy’s length. 

If you die during the term covered by your term insurance policy because of any health reason or accident, the insurer will pay out its value as a death benefit – which could be quite valuable! 

So, if you’re at all concerned about safeguarding your family financially in case of an emergency, then term insurance is worth considering.

Premium amounts for term insurance vary based on a variety of factors, including an individual’s age, life expectancy, and medical conditions. Some insurance companies may require the individual to perform a medical examination before finalizing the plan.

Multiple-Term Insurance Policies

It’s a common scenario for Indian citizens – parents purchase traditional insurance plans in the name of their children, and as these children grow up and earn, they realize that the existing plan is not sufficient. 

However, this can become financially burdensome over time. So, it is important to buy two or more term insurance policies rather than one large policy that would cover all your needs. 

The good news is that buying term insurance plans doesn’t have to be expensive or complicated! You can buy them online or through an agent just like any other type of coverage. 

And, best of all – they’re always affordable compared to traditional individual health and lifestyle Insurance plans! 

So, why not consider adding some extra peace of mind to your family’s future?

Benefits Of Multiple-Term Insurance Policies

• Helps To Avoid Rejection Of Claims 

The risk of claim rejection is a common concern for those who have life insurance. This fear can be especially daunting if you are the policyholder and your insurer rejects your claim. However, having insurance plans can help reduce this risk.

Multiple-term policies provide increased flexibility in case of an unexpected death. Even if one insurer rejects your claim, you can still protect yourself with another plan from the same company or from a different company altogether. 

In addition, having more than one policy may also increase the value of any payout that does come through – after all, it is always better to be safe than sorry!

• Death Benefits From Multiple Insurance Companies 

When an individual dies, their dependents (those who are legally responsible for the assured care and upkeep) receive death benefits from multiple insurance companies. This makes sure that the dependents have sufficient financial resources in the event of unforeseen demise. 

Death benefits can come from life, health, accident, automobile, property, and Umbrella policies. The amount paid out will be based on a variety of factors such as how long the assured had been insured with each company and whether any children were born during their policy period. 

This way, everyone is taken care of no matter what happens – even if one or more insurance companies go out of business.

• Option To Choose Between Different Companies 

Multiple-term insurance policies offer numerous benefits for users. These policies allow you to switch between different companies without having to worry about getting rejected for a previous claim. This is great if you want to explore different options and find the company that offers the best coverage overall. 

Additionally, these policies often come with a variety of bonus features, such as discounts on supplemental insurance or free claims handling services. 

So, whether you’re looking for an affordable option that offers good coverage or something unique that offers extra perks, term insurance is a great choice!

Read More – Is Gadget Insurance India Vital? Here Are Four Reasons You Should Get It

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First and foremost, Shriram General Insurance Company was started in 1974. With IRDAI’s backing, this general insurance company became a preferred partner of IRCTC. 

Shriram General Insurance aims to serve the largest number of common people by providing them with insurance. Besides, it continues to focus on addressing the needs of its customers, cultivating talent, and building a homegrown technology platform which it delivers to underprivileged segments across the nation. 

For more than 3 decades, this approach has helped this company maintain its strong growth and sustainability. To fulfil its mission, the company has developed innovative products and applications with the latest technology. This has expedited operations within the organization and improved customer satisfaction levels.

Why Should You Choose Shriram General Insurance?

Shriram General Insurance provides a range of benefits to policyholders. Here are several reasons why you should buy an insurance plan from Shriram general insurance

Quick Renewal Process – Shriram General Insurance’s renewal process is quick, simple and can be completed online effectively. Even, you can renew your insurance policy online by entering your policy number. So, you will be able to pay for it and make any necessary changes.

Easy Claim Procedure – You can expect to receive a timely response from Shriram General Insurance and worry-free handling of your claim. The website’s claim process includes registration, tracking the status of a claim, and uploading any necessary documents.

24×7 Customer Assistance – The customer support team of the general insurance company is available around-the-clock to resolve emergencies. You can call the company’s toll-free number to resolve your queries.

Types Of Shriram General Insurance

Shriram Car Insurance Policy

Shriram Car Insurance Plan provides compensation for damage, loss or injury to your car caused by accidents, theft and fire. It also covers other contingencies such as riots, earthquakes, and floods due to cyclones/hurricanes. 

In addition to these standard benefits, this general insurance company offers unique and affordable coverages that you can add to your policy for added protection. 

Shriram Two-Wheeler Insurance Policy

Shriram General Insurance provides comprehensive two-wheeler insurance coverage, which includes third-party liability, own damage, and personal accidental cover. 

The coverage is available to protect you from any damage that might result from accidents, thefts, or natural calamities like lightning/earthquakes. Besides, man-made disasters such as burglary or riots.

Moreover, two-wheeler insurance policy can be enhanced by adding on various extra covers, such as zero depreciation cover, roadside assistance (for breakdowns), return to invoice (so you get the same model back if it’s stolen or written off), and so forth.

Shriram Commercial Vehicle Insurance

This commercial vehicle is more than just a valuable asset. With Shriram Commercial Vehicle’s comprehensive policy, you can get coverage against mandatory third-party liability. Not only that but also the damages and losses sustained by your vehicle due to accidents, fire theft—riots etc.

Shriram Home Insurance Policy

Shriram Home Insurance provides coverage for the damage to your house and its contents. This insurance is a contract between an insurer and a policyholder. 

In which the policyholder agrees to pay premiums in exchange for financial protection against unpredictable losses or risks. This can include natural disasters like fire, earthquakes, lightning strikes, and floods. Not only that but also man-made events such as theft or burglary. 

The Shriram General Insurance company offers a few add-on covers. If these add-ons are added to your plan, it can enhance the coverage you have on your home—for example, terrorism insurance or loss of rent during repairs.

Shriram Travel Insurance Policy

Shriram General Insurance’s travel insurance plan offers coverage for trips anywhere in the world. It is designed to meet the needs of individuals who have purchased an overseas travel insurance policy while on a holiday or business trip.

It protects you from a variety of misfortunes that might occur while travelling, including the loss or theft of your baggage, medical emergencies, identity fraud related to lost passports and other documents, and trip cancellation due to illness or injury before departure. 

The Shriram General Insurance company offers three different travel insurance plans for trips of varying lengths and destinations, including Shri Travel Insurance (for short trips to nearby areas), Shri Travel Plus Insurance (for more distant journeys) and Shri Travel Elite Insurance(For international travels).

Shriram General Insurance Company also offers other types of insurance products. Some examples include,

• Fire Insurance 
• Engineering Insurance 
• Marine Insurance 
• Liability Insurance 
• Burglary Insurance 
• Fidelity Guarantee Insurance 
• Business Protector Insurance 
• All Risk Insurance 

Shriram Group offers several types of insurance policies to meet the needs of different customers. It is important for you to evaluate your personal situation and choose a policy that works best for you.

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The type of insurance cover is many, but making sure that we are looking for the right one holds great importance. Policyplayer offers up with major help that not just brings on the latest policy and scheme, but helps you choose the most appropriate according to your choice. We know what is best for you and that is why our support is always with you no matter what. All the experts will make sure to give you the required guidance so that the best help in all the ways can be added. 

1. Life insurance
2. Motor insurance
3. Health insurance
4. Travel insurance
5. Property insurance and much more.

How helpful are these insurances?

It will be quite wise if we say that insurance works in a way that we can bring on with the shield on us. Today, as we move ahead with time and support understanding how we can minimize our expenses, is a must. For people, today looking for ways to add safety and cover comes up as an obligation. It is because any of the expenses in any way will be a disadvantage for us.

Some of the details regarding different insurances are:

1. Health & life insurance: health comes up to us as a major priority that binds up with all how we can lead a better life. As now the time is just taking up the big change, it has become important for us to look at some of the suitable ways in which we can just suitably cover our health and life. Life and health insurance are subsidized in different directions like the term plan, money back, and even the retirement plan. This is why one of the major important reasons to look up such insurance is that it will help in planning retirement accurately. We know that now the skip of time is moving ahead and that is why these insurances are a must for all. Policyplayer comes out to be your ideal stop for getting health & life insurance and that too at a discounted rate. 
2. Motor Insurance: It is quite wise to know that not just health, but looking after our most expensive investment in assets is even more important. This is why people are just suggested to get motor insurance. Such insurance just deals with all the vehicles, four-wheeler or two-wheeler. It is important to keep in mind that maintaining any of the vehicles is much more expensive than buying them. It is because, in case of any mishap, the vehicle would cost much to our pocket. This is why Policyplayer refers up the most suitable plans that can help you in keeping your surroundings as well as pocket safety from any issue.
3. General insurance: It comes out to be the best insurance plan that includes automobiles, policies related to homeowners, and much more. On another side, we can say that it helps in covering all the covers right in one place.  Policyplayer offers you a wide and wise insurance plan that can be best for all times. But all you need to do is look for the ideal plan that can suit your budget in the right way. General insurance features help in adding safeguard to all situations in the right way.

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• Aditya Birla Health Insurance
• Bajaj Allianz Health Insurance
• Bharti AXA Health Insurance
• Reliance Health Insurance
• SBI Health Insurance
• Tata AIG Health Insurance
• Star Health Insurance
• Kotak Mahindra Health Insurance
• Liberty Health Insurance
• IFFCO Tokio Health Insurance

Aditya Birla Health Insurance 

Aditya Birla is one of the premium health insurance companies which provides umpteen benefits to its customers. It facilitates its customers with multiple sums insured options as it allows them to pick the option according to the preference that best suits them. Depending on your budget and requirement you can pick your plan as the company can offer coverage as high as 2 crores. 

The best feature of Aditya Birla health insurance is that it offers wellness coaching to its customers.  Now, customers can ask any health relation, skeptical questions without any hesitation. 

Moreover, it encourages the customers in maintaining a healthy lifestyle to stay away from illness by providing rewards. 

Bajaj Allianz Health Insurance

In the time of need, one wants to get the claim as soon as possible and this is what Bajaj Allianz Health Insurance takes care of. If you want the cashless claims then you can get them within 1 hour after the approval. For settling claims there is 24*7 call assistance available for customers.  Moreover, customers enjoy getting special discounts on pathology, medicines, OPD expenses, pharmacy, radiology, and wellness tests, all of it is provided by the company. 

Bharti AXA Health Insurance

The best offer that Bharti AXA Health Insurance provides is that it recompenses the pre and post-hospitalization expenses. All the expenses incurred before 30 days and after 60 days of hospitalization. There are certain health plans where there is no capping on room rents.  It also takes special care of senior citizens by providing coverage up to 1 cr. Also, customers can renew their policy entire life. There are many general insurance companies in India and pick the one which fulfills your needs. 

Reliance health insurance

If the patient is hospitalized for more than 24 consecutive hours then the company takes care of the hospitalization expenses. There are times when the patient is not required to stay for more than 24 hours because of the blessing of advanced technology, in that case, reliance on health insurance also covers daycare treatment expenses. The facility of Pre and post-hospitalization expenses are also taken care of for a specified period by the company for its customers. There are also plans which are specially for covering organ donor expenses. Today with the advancement in science and technology, modern treatments like oral chemotherapy, stem cell therapy, robotic surgeries, and many more have been developed, reliance on health insurance takes care of these expenses as well.

SBI Health Insurance

SBI General Health Insurance Company keeps in mind the modern healthcare scenario where the inflation in medical treatments is on the continuous rise and designs its insurance plan accordingly to offer the best to its customers. Getting the insurance that covers it all from OPD charges, basic illness to critical issues is the best. The coverage option in SBI Mediclaim ranges from Rs 50,00 to 5 lakhs. People aged below 45 years would not require pre-medical screening.  There are different plans like the rest of India, the Metro health insurance plan, and the Semi-Metro Plan. Also depending upon individuals’ needs they can opt for SBI health plans that give coverage to a spouse, complete family including children, parents, individual insurance policy, and much more. 

Tata AIG Health Insurance

You get the tax benefit with a lifelong renewal policy. If someone wants to transfer or migrate their policy to other plans then TATA AIG health insurance provides this facility. There are more than three thousand network hospitals where cashless hospitalization is possible.  It also covers the expenses like daycare expenses, inpatient treatment, organ donor expenses, domiciliary treatments, and many more. People also have the opportunity to cancel the policy within 15 days of the acceptance of the policy documents.

Consider the top general insurance companies in India for the best output

Star Health Insurance

You get lifelong renewability with Star health insurance which gives lifetime coverage. There is no need of making any co-payment. If there are any pre-existing ailment then the insured need to make a wait of 4 years and after that the coverage will be given. The plus point of the insurance is that it also covers room rent expenses of a maximum of Rs.4000 per day. 

Kotak Mahindra Health Insurance

Kotak Mahindra Health Insurance offers instant policy renewal benefits that make sure to provide comprehensive coverage. It covers OPD and in-patient expenses as well. There is no problem in claim settlement as there is 24*7 insurance assistance with fast claim registration. You can also make use of special discounts like compulsory/ voluntary deductible, NCB bonus, etc.

Liberty Health Insurance

Liberty health insurance has a network of more than three thousand hospitals where cashless treatment is available to the insured. There are 5 types of health insurance available to the customers and they can the best one that suits them. Every plan has different coverage and therefore according to requirement it can be chosen. 

IFFCO Tokio Health Insurance

If you have a pre-existing disease then you do not have to wait for 4 years for its inclusion in health insurance coverage as IFFCO Tokio health insurance gives it in 3 years. There is no involvement of a third party and therefore there is no confusion in the process.

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