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General Insurance Types and Its Tax Benefits
General insurance is one of the best ways to keep yourself financially protected. Check out most popular four things about general insurance and its types along with tax benefits they offer.
What is General Insurance?
Life is full of surprises. There are times when you are caught unprepared and do not know what to do. Sometimes life takes a turn for the worst when you least expected it to. Your hard-earned money, which you saved for something special, is then spent in settling hospital bills or someone else’s dues.
Events such as hospitalisation, burglary, natural disasters, car theft, riots etc. can negatively affect your finances. It is in times like these that you wish for a blanket of protection that insulates you from the harshness of such events. General insurance is that blanket.
ICICI Bank Limited solicits general insurance products as a Corporate Agent of ICICI Lombard General Insurance Company Limited, which offers a wide range of general insurance solutions that are designed to fit every need, every pocket and every situation. These insurance products span across the following segments:
- Car Insurance
- Two wheeler Insurance
- Health Insurance
- Travel Insurance
- Home Insurance
Car Insurance
An accident can happen in the blink of an eye. Protection offered by third party and comprehensive insurance coverage can be availed online instantly with minimum paperwork. Secure your car against natural and man-made calamities with our car insurance policies that come with benefits such as roadside assistance*, and zero depreciation cover*. Avail additional facility of cashless services at 3,500+ network garages across the country.
Two wheeler Insurance
Make sure that your pride and joy is aptly covered from any eventuality with our comprehensive two-wheeler insurance policy. Opt for our policy and get a personal accident cover, long-term cover (of up to 3 years), network garage strength of more than 2,500 garages and prompt online renewal. Take our comprehensive coverage and enjoy the peace of mind that is felt by more than 60 lakh riders every year.
Health Insurance
The rising levels of stress and increasing cost of healthcare means that a major illness is always on the cards and so is the financial burden. Alleviate this burden by going in for our ICICI Lombard complete health insurance plan that comes with many advantages such as lifetime renewability, cover for AYUSH treatments, quick claim service guarantee, add-on covers and even tax benefits. The coverage coupled with additional benefits ensure that the insured lives a long, healthy and stress-free life.
Travel Insurance
Going on an international holiday/ trip is something, which many look forward to and prepare for months in advance. However, any amount of preparation cannot prepare you for the unexpected when it happens. So, it is always better to go armed with travel insurance. Available as a single trip or multi-trip plan, our insurance policies protect the insured from medical emergencies, baggage loss, passport loss, trip cancellation and even trip delays.
Home Insurance
Home is where your heart lives and is the centre of your world. It would be a great loss if any natural or man-made disaster were to strike your peaceful abode. That’s why it makes sense to protect this priceless asset with our home insurance. You can insure the structure and/ or the contents of your home. The policy ensures that your home is protected against natural and man-made calamities, fire damage and allied perils.
How Insurance Renewals Work?
An insurance policy benefits you only until the time it does not expire. You need to ensure that your policy does not lapse. This ensures the continuity of coverage and protects you against unforeseen risks. In addition, the No Claim Bonus (NCB) also gets carried forward and does not lapse if you make no claim during a policy year. Here is how you can renew your insurance policy easily online and on time:
- Keep a tab on your renewal date
- To begin, visit ICICI Bank website
- Click on the Insurance tab
- Follow the instructions to complete the process
- Make the payment through Internet Banking, Credit or Debit Card
- Acknowledge the payment receipt along with reference number.
How Claims Work?
Reimbursement Claims:
The benefit of an insurance policy can be availed by filing an insurance claim. Here’s how you can initiate the process of filing a reimbursement insurance claim:
- Contact the insurance helpline number
- Provide relevant information about your policy
- Allow the insurer to authenticate the claim request
- Upon validation, your insurer’s representative will contact you
- Submit all requisite documents to the insurer’s representative for his/ her report
- The claims department will then process the claim and disburse the claim amount.
Cashless Claims:
Cashless claims are only available in network hospitals/ garages. Here are the steps needed to file a cashless claim:
- Call the insurance helpline number to find out the nearest network facility
- Display your insurance card at the facility to avail cashless insurance
- Fill the cashless claim request form and provide details of the insurer
- Send a fax of the claim form and relevant documents to the insurer
- The insurer will then review the claim and either accept or reject it
- If approved, the bill will be directly paid to the establishment by the insurer.
If you have not insured your assets yet, insure them now! Click below to view various insurance plans.
Save Tax
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Disclaimer
The advertisement contains only an indication of the cover offered. For more details on risk factors, terms, conditions and exclusions, please read the sales brochure carefully before concluding a sale. Insurance is underwritten by ICICI Lombard General Insurance Company Limited (ICICI Lombard) having Registered office at ICICI Lombard House, 414, Veer Savarkar Marg, Near Siddhivinayak Temple, Prabhadevi Mumbai 400025. IRDA Reg. No. 115. Toll Free no. 18002666. Fax no - 022 61961323. CIN (U67200MH2000PLC129408).
ICICI Bank Limited ("ICICI Bank") with registered office at ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara, 390 007, Gujarat (CIN: L65190GJ1994PLC021012) is a Corporate Agent (Composite, IRDAI Regn No.: CA0112 valid till 31/03/2019) of ICICI Lombard. Insurance is underwritten by ICICI Lombard. Purchase by ICICI Bank’s customer of any insurance products is purely voluntary, and is not linked to availment of any other facility from ICICI Bank.
Private Car Package Policy IRDAN115P0017V01200102 (Motor 01), customersupport@icicilombard.com, www.icicilombard.com T&C apply
Two Wheeler Vehicle package Policy IRDAN115P0015V03201415 (Motor 05) , customersupport@icicilombard.com, www.icicilombard.com T&C apply
International Travel Insurance Misc 129 ICITIOP02002V020102, customersupport@icicilombard.com, www.icicilombard.com T&C apply
ICICI Lombard Complete Health Insurance Misc 128 ICIHLIP10001V020910, customersupport@icicilombard.com, www.icicilombard.com T&C apply
Personal Protect Policy Misc 111 ICIPAIP06001V020506, customersupport@icicilombard.com, www.icicilombard.com T&C apply
Health Booster Misc 140 IRDAI/HLT/ICICI/P-H/V.I/31/15-16, customersupport@icicilombard.com, www.icicilombard.com T&C apply
Home Insurance Policy Misc 13 IRDAN115P0003V01200203, customersupport@icicilombard.com, www.icicilombard.com T&C apply
BEWARE OF SPURIOUS PHONE/ FRAUD PHONE CALLS !
- IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.
- Public receiving such phone calls are requested to lodge a police complaint.
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