AN EXTERNAL PERSPECTIVE
What is General Insurance?
General insurance is a broad umbrella that covers almost everything else you own or want to protect
Deliverables:
Risk Mitigation
Risk Mitigation
Risk Mitigation
Risk Mitigation
Risk Mitigation
Risk Mitigation
Why Do You Need It?
01/
Policy Duration
Short-term (typically renewed every 1 year).
02/
Payout Type
Paid only if a specific damaging event happens.
03/
Core Purpose
Asset protection and risk management.
04/
What it covers
Tangible assets, liabilities, and health.
Common Optional Add-ons (Riders)
01
Pure Protection
Health Insurance
Covers your medical and surgical expenses if you are hospitalized due to an illness or an injury. It ensures a medical emergency doesn't wipe out your savings.
02
Protection + Savings
Motor Insurance
In many countries (including India), this is legally mandatory.
03
Liquidity + Protection
Third-Party Insurance
Covers damages or injuries you accidentally cause to other people or their property.
04
Liquidity + Protection
Own-Damage / Comprehensive Insurance
Covers damages to your own vehicle due to accidents, theft, fire, or calamities.
05
Liquidity + Protection
Home & Property Insurance
Protects your house and the structure/contents inside it (like electronics, furniture, or jewelry) against threats like fire, earthquakes, floods, riots, and burglary.
06
Liquidity + Protection
Travel Insurance
Secures you during domestic or international trips. It compensates for unexpected disruptions like passport loss, missed flights, baggage delay, or emergency medical treatment abroad
07
Liquidity + Protection
Commercial / Business Insurance
Tailored for business owners to protect against workplace liabilities, cargo damage (Marine Insurance), factory fires, or financial losses due to legal lawsuits
Framework
How General Insurance Works
Accidental Death
If the policyholder passes away due to an accident, the nominee receives 100% of the Sum Insured to handle outstanding debts or daily expenses.
Permanent Total Disability (PTD)
If an accident causes an irreversible loss (e.g., loss of both limbs, both eyes, or total paralysis), the policy pays out 100% of the Sum Insured to compensate for the permanent loss of earning capacity.
Permanent Partial Disability (PPD)
If the injury results in a partial loss (e.g., losing a finger, sight in one eye, or hearing in one ear), the insurer pays out a pre-fixed percentage of the Sum Insured.
Temporary Total Disability (TTD)
If an accident leaves you temporarily bedridden or unable to work (like severe fractures requiring months of bed rest), the plan pays a weekly cash allowance (e.g., ₹5,000/week) to replace your income and pay EMIs.
Financial planning is not a one-time decision. It’s a lifelong conversation.
