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Individual Insurance Advantage

Family Health Insurance

Buy cost-effective health insurance that protects your entire family. Health insurance is a must buy because health care costs are rapidly rising as is incidence of hospitalization. Buying this insurance early and selecting thoughtfully ensures that waiting periods get done fast and the insurance can remain with you lifelong.

Term and Keyman

Get pure risk life insurance that pays a large benefit if you die prematurely. Term is the most cost-effective way to buy life insurance. It can also be bought as a keyman insurance to cover your company’s key executives. In that case the premiums are paid by the company and the death benefit also goes to it.

Motor

Buy mandatory third party cover as well as carefully selected extensions. A well designed motor insurance will cover for the most likely accidents. For example, tyre bursts in expensive cars or engine seizures. Similarly it is possible to get zero depreciation covers that pay replacement cost of damaged parts.


Travel

Cost effective travel insurances that are accepted by visa authorities. Travel insurance that is customized for the countries that you visit and the duration of your travel. If selected carefully some insurances also cover emergency treatment due to pre-existing diseases upto certain limits.

Home

Protect your home from damage and burglary. Home insurance pays repair costs if your house is damaged by fire, earthquake, storms, flooding and riots. Burglary and theft can also be covered. The costs paid by the insurer depend upon the kind of insurance you buy and the deductible. Choose carefully.

Benefits Overview of Individual Insurance

Easy to buy

  • Individual insurances policies are easy to buy with minimal documentation. The main work required is in the initial selection of the insurance. However, once the initial purchase is made, the insurances are meant to be kept for a long term.

Streamlined renewal

  • You will get several renewal reminders from the insurer and your intermediary. The renewal rates are generally standardized and require no negotiation. It’s important not to allow a break because then you lose continuity benefits.

Comprehensive cover

  • Most individual insurance plans offer several add-ons and riders. These can be useful to make your insurance more comprehensive. For example, a waiver of premium is useful for term insurance; critical illness riders are good to add on in the health or term insurance.

Get Competitive Prices

There can be a 50% difference between the highest and lowest priced individual insurance policies. Select carefully to get the best products. This is a long term decision so chose carefully.

Administer With Ease

The insurances are easy to buy and store. Keep a soft copy with you. Renewal processes are also streamlined as most insurers offer online renewal facilities.

Better Claims Settlement

Claim settlement is faster and more effective if you work with an intermediary. Insurers have a clearly specified claim process. The insurance regulator has clear guidelines that encourage insurers to pay claims in a timely manner. Grievance processes are also well laid out.

Frequently Asked Questions

Some of the most popular individual insurance products are -
1. Term insurance
2. Personal Accident Insurance
3. Motor Insurance
4. Home Insurance
5. Health Insurance
6. Travel Insurance
Except for third party liability in motor Insurance, every other individual insurance product is voluntary
Unlike group insurance, individual insurance are products designed for an individual. Secondly, group insurance products are typically offered by employers to employee as part of employee welfare schemes. On the other hand, self-insurance products are voluntary, and individuals who want protection against health risks or general perils or dangers take up policies like health insurance, home insurance and term insurance. Individual insurances are paid for by individuals themselves and they can keep these insurances lifelong.
Since you pay for individual insurance plans you are not dependent on the company to provide these to you. These personal insurances will continue to protect you even when you stop working.
Yes. Your family can be covered under one health insurance. For term insurance it is better to buy individual insurances although joint family insurance plans are also available.
Every insurance policy takes into account different factors while deciding premium rates. Some of the common ones are age, health, tenure, income and value of the asset.

Why SecureNow?

Deep Product Knowledge

We have specialized underwriters who can give specific recommendations to you.

Cost-effective Insurance

We work with all insurers to get you the best options- both in terms of price and features.

Quick Turnaround Time

Proposal forms and medical tests are quickly turned around. We follow up with insurers to make sure the insurance is issued fast.

Strong Claims Support

We manage all aspects of your claim - from preparing documentation to follow-up with the insurer.

Value-Added Services

We support you if you need to get medical tests done or would like access to our wellness programmes.

Policy Administration System (PAM)

See all your insurances and renewal information in one place. Place service requests on PAM.