Insurance is a financial arrangement providing protection against losses or damages, where premiums are paid for coverage and risk management.

A NCB (no claim bonus) is a discount on insurance premiums awarded to policyholders who haven't made any claims during a specified period.

A nominee is a person designated by an insurance policyholder to receive the policy benefits in the event of the policyholder's death.

Cashless hospitalization is a facility where the insurer directly pays the hospital for the insured's medical treatment, eliminating the need for the insured to pay upfront and seek reimbursement later.

To increase/ decrease your insurance cover, you have to fill the form under the change in sum assured section. After filling the form you submit the form to the nearest branch or send it through courier.

A family floater plan is a type of health insurance policy that covers multiple family members under a single sum insured, allowing any member to use the entire coverage amount as needed.

If an insurance policy lapses or is discontinued, the coverage ceases, meaning no claims can be made. The policy holder may lose benefits such as no claim bonuses and may need to undergo new medical evaluations or pay higher premiums to reinstate or purchase a new policy.

You can apply for a loan on your endowment policy after completion of the lock-in period. Submit application and required documents, policy is evaluated, receive loan based on policyu2019s surrender value.

Tax deduction on premium paid under Section 80C of the Income Tax Act, 1961, allows exemption up to Rs. 1.5 lakh per annum.