Visitor Medical Insurance

Question What is General Insurance?
AnswerInsuring anything other than human life is classified as General Insurance. All insurance plans excluding life-insurance falls under the category of General Insurance. General insurance products for individuals include Travel, Health, Student, Motor, Home, Personal Accident, Corporate and other business insurance. Most general insurance policies are annual and only few policies like fire insurance for residences are given for longer period. Travel insurance is usually used to insure the duration of one’s travel.

Question What is TPA in Insurance?
AnswerTPA stands for Third Party Administrator. TPAs are organizations that processes insurance claims. TPA acts as an “outsourcing” company for insurance companies for the administration of the claims processing. All the TPAs are approved by Insurance Regulatory and Development Authority (IRDA).

Question What is IRDA in insurance industry?
AnswerInsurance Regulatory and Development Authority (IRDA) is an administrative agency by Government of India. IRDA is taking care of the supervision and development of the insurance sector in India.

Question What is Actuarial Science?
AnswerThe discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries is called as Actuarial Science.

Question What is ‘Premium’ in insurance?
AnswerPremium is the amount that the insurance company charges you to issue insurance cover for you, your family or the assets/liabilities that are covered under the policy.

Question What are the factors that decide ‘Premium’?
AnswerPremium of the insurance policy is decided considering age of the customer, coverage period and duration of the policy.

Question What is ‘Policy Period’?
AnswerThe duration of the Policy from the start date till the expiry date of the policy is called as ‘Policy Period’. You can utilize the benefits of insurance as specified only during the ‘Policy Period’.

Question What are the different modes of payment while buying Insurance Policy online?
AnswerYou can use a credit card, debit card or cheque to purchase insurance policy on our website.

Question What if I do not have sufficient balance in my bank account while buying insurance policy online?
AnswerThe insurance policy will be issued to you only after the transaction is completed. It is obvious that the transaction will fail if you do not have sufficient balance in your bank account while buying insurance policy online.

Question Why should I have to fill the proposal form for buying Insurance?
AnswerInsurance is a contract between the insurer and the insured. Your proposal form acts as a request to buy a policy. The details in your proposal form will be used to prepare the policy document or contract agreement.

Question Will I receive a confirmation for the transaction?
AnswerYes, once the premium amount is recovered from your bank account you will receive an e-mail with all the transaction details.

Question Can I change my coverage effective date in the insurance policy?
AnswerNo, once the application is submitted you cannot change the effective date. You can cancel the existing policy and purchase a new policy with the new dates.

Question What is the proof of purchasing insurance online?
AnswerWhen you purchase the insurance online at our website, you will immediately receive an email acknowledgement. You will receive the insurance policy document within a few hours, 24 hours at the latest. This policy will have your name, policy number, insurance company's contact information such as the toll-free telephone number and the address where claims should be submitted.

Question How do I receive the document if I buy an insurance policy online?
AnswerIf you buy insurance online, you will receive the policy document by email and a hard copy of the same document will also be sent to your Indian address by courier.

Question What if I do not receive the courier?
AnswerIn case the courier is delayed, you can use print out the electronically sent soft copy which is a legal document and is fully valid.

Question Can I get discount on my insurance policy?
AnswerNone can give discounts on insurance policies as it is illegal to do so. According to The Insurance Act, 1938, Section 41 - Prohibition of rebates: No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer: [Provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.]