Insurance Products Overview

Insurance provides financial protection against unexpected events, helping you manage risks and secure your future. Below are the main types of insurance products that cater to different needs:

Health Insurance

Health insurance covers medical expenses incurred due to illness, injury, or hospitalization. It helps pay for doctor visits, surgeries, diagnostic tests, and emergency services, ensuring that you and your family receive timely medical care without worrying about high costs.

• Key Benefits: Covers hospitalization, doctor’s consultations, medicines, and sometimes preventive care.

• Best for: Individuals and families looking to manage healthcare costs and safeguard against medical emergencies.

Here are some common examples of health insurance plans that cater to various healthcare needs:

Individual Health Insurance

This type of health insurance covers an individual against medical expenses incurred due to illness, injury, or hospitalization. It typically includes coverage for doctor consultations, hospitalization, surgeries, and sometimes outpatient treatments

Family Floater Health Insurance

A family floater policy provides health coverage to the entire family under a single sum insured. It is more affordable than individual policies for each family member and includes coverage for hospitalization, medical treatments, and sometimes preventive health check-ups.

Critical Illness Insurance

This type of insurance offers a lump sum payout upon the diagnosis of a critical illness, such as cancer, heart attack, kidney failure, etc. It is designed to provide financial support for the treatment and recovery process of life-threatening conditions.

Top-Up Health Insurance

Top-up insurance is an additional health insurance plan that provides extra coverage over and above the base health insurance policy. It is more affordable and can be used when the original policy's coverage limit is exhausted.

Maternity Health Insurance

This type of insurance covers expenses related to pregnancy, childbirth, and newborn care. It typically includes pre- and post-natal care, delivery costs, and sometimes vaccination for the newborn.

Personal Accident Insurance

This insurance provides coverage for accidental injuries, disabilities, or death caused by accidents. It typically includes medical treatment for injuries, accidental death benefits, and sometimes compensation for permanent disability.

Life Insurance

Life insurance provides a financial safety net to your loved ones in case of your untimely demise. It ensures that your family’s financial needs—such as household expenses, debts, and future goals—are met, even after you’re gone. Life insurance can also offer savings and investment benefits in some cases.

• Key Benefits: Provides a lump sum payout to beneficiaries, and some policies offer savings or investment components.

• Best for: Families who want to secure their financial future in the event of an unexpected loss.

Life insurance is a powerful tool for securing your family’s financial future in case of your untimely demise. It offers peace of mind knowing that your loved ones will be taken care of financially when you're no longer around. At Krama Consulting, we offer a range of life insurance products designed to meet diverse needs, whether you're looking for pure protection, savings, or a combination of both.

Term Insurance

Term insurance is a simple, affordable way to provide life coverage for a specified term, such as 10, 20, or 30 years. It offers a high sum assured at low premiums, making it an ideal option for those looking for financial protection without any savings component.

• Key Benefits: High coverage at an affordable cost, financial security for your family.

• Best For: Individuals seeking a pure protection plan with no investment component.

Endowment Plans

Endowment plans combine life insurance with savings. In case of your unfortunate demise during the policy term, your family will receive a death benefit. If you survive the policy term, you’ll receive a lump sum amount as maturity benefit, often with bonuses.

• Key Benefits: Provides a dual benefit of insurance and savings, tax benefits.

• Best For: Those who want to save for a specific goal like children’s education or retirement, while having life coverage.

Whole Life Insurance

Whole life insurance offers coverage for your entire lifetime, ensuring that your family is financially protected no matter when you pass away. It also provides an opportunity to build cash value over time, which can be borrowed against or withdrawn.

• Key Benefits: Lifetime coverage, cash value accumulation, financial security for your loved ones.

• Best For: Those seeking long-term coverage and an investment component.

Money-Back Plans

Money-back policies provide periodic payouts (e.g., every 5 years) during the policy term, along with the life insurance cover. If the policyholder passes away during the term, the nominee receives the death benefit along with any unpaid periodic payouts.

• Key Benefits: Regular payouts during the policy term, life cover, and financial security for your family.

• Best For: Individuals who want regular income while also securing their family’s future.

Unit-Linked Insurance Plans (ULIPs)

ULIPs combine investment and insurance. You can invest in equity, debt, or hybrid funds, while enjoying life insurance coverage. The value of your policy is linked to the performance of the chosen funds, offering the potential for market-linked returns.

• Key Benefits: Investment opportunities in various funds, market-linked returns, life coverage.

• Best For: Investors looking to build wealth along with life protection.

Child Plans

Child plans are designed to secure your child's future education and financial needs, even in your absence. These plans provide life coverage for you, while ensuring that the child gets a lump sum amount or periodic payouts for their education.

• Key Benefits: Financial security for your child's future, flexible payout options.

• Best For: Parents looking to ensure their child’s education or other financial needs are met.

Retirement Plans

Retirement or pension plans provide regular income after retirement. These plans help build a corpus during your working years, which can be used to provide a steady income after you retire, ensuring financial independence in your later years.

• Key Benefits: Regular post-retirement income, financial security in retirement.

• Best For: Individuals planning for a secure and comfortable retirement.

General Insurance

General insurance covers non-life-related risks, including property, vehicles, travel, and more. This category includes a wide range of policies, such as auto insurance, home insurance, travel insurance, and more, providing financial protection against losses from accidents, theft, or damage.

• Key Benefits: Offers coverage for vehicles, homes, travel-related emergencies, and more.

• Best for: Protecting valuable assets like homes, vehicles, or travel plans from unforeseen events.

Each insurance product serves a unique purpose, helping individuals and families mitigate financial risks while ensuring peace of mind in case of emergencies. Explore our wide range of insurance options to protect yourself and your loved ones.

General insurance provides financial protection against risks other than life, covering a wide range of assets, liabilities, and emergencies. These products help you safeguard your valuable possessions, such as your home, vehicle, health, and more, ensuring that you're prepared for unforeseen events.

Motor Insurance

Motor insurance provides protection against damages to your vehicle or third-party liabilities arising from accidents, theft, or natural calamities. It is mandatory to have third-party motor insurance in India.

• Key Benefits: Coverage for damages to your vehicle, protection against third-party claims, optional add-ons like roadside assistance.

• Best For: Vehicle owners seeking financial security against accidents, theft, or natural disasters.

Home Insurance

Home insurance protects your home and its contents against risks such as fire, theft, natural disasters, or damage caused by accidents. It covers both the structure of your house and the belongings inside it.

• Key Benefits: Coverage for building structure, household items, and personal belongings against theft, fire, and natural calamities.

• Best For: Homeowners seeking protection for their property and belongings

Travel Insurance

Travel insurance covers unexpected events that may occur while traveling, including medical emergencies, trip cancellations, lost baggage, or flight delays. It ensures peace of mind during both domestic and international trips.

• Key Benefits: Medical coverage, trip cancellation, baggage loss, and emergency assistance while traveling.

• Best For: Travelers looking to safeguard themselves against potential travel-related risks.

Personal Accident Insurance

Personal accident insurance provides coverage for accidental injuries, disabilities, or death caused by accidents. It typically includes hospitalization expenses, compensation for permanent disability, and financial support to the family in case of death.

• Key Benefits: Coverage for accidental death, permanent disability, and medical expenses due to accidents.

• Best For: Individuals looking for financial security against the risk of accidents.

Commercial Insurance

Commercial insurance offers protection to businesses against various risks, such as property damage, employee injuries, liability claims, or business interruptions. It helps businesses recover from unexpected losses, ensuring continuity and financial stability.

• Key Benefits: Coverage for property, liability, employee-related risks, and business interruptions.

• Best For: Small, medium, or large businesses seeking comprehensive coverage against operational risks.

Marine Insurance

Marine insurance covers goods in transit, both by sea and air, protecting businesses and individuals against losses or damages that may occur during transportation. This is essential for businesses involved in import-export activities.

• Key Benefits: Coverage for goods in transit, protection against damages due to accidents or natural disasters.

• Best For: Businesses involved in shipping, import-export, and logistics.

Protect What Matters Most

Ready to secure your future with the right insurance? Contact Insurance Advisory today and let us guide you to comprehensive coverage that provides peace of mind.