What is General Insurance?

Surprises are an inevitable part of life - good and bad. Life is filled up with excitement. But at the same time it is full of risks. Some uncertainties and unexpected events can really put you down.


General Insurance or Non-life Insurance helps you to safeguard yourself and the things around, which you value a lot. These may include your home, car and other valuables like money lending, professional casualties other than death, etc. These valuables carry a lot of financial risks. Therefore, General Insurance Plans provide financial protection from the impact of fire, storm, flood, earthquake, car accidents, theft and other travel accidents. It also covers us from the expenses spent on the legal actions. In short, you have the option to choose the right type of cover and the right type of insurance policy as per your requirements.


The tenure for a general insurance is not like the tenure we have in life insurance. Mostly these types of insurance are yearly contracts.


Do not get confused between Life Insurance and General Insurance. They both cater to different aspects in life. Life Insurance looks after risks of death and its consequences, whereas, General Insurance helps in protecting risks due to other aspects of life and its diverse assets.

What is Life Insurance?

Life Insurance, in simple terms, is a contract which is signed between an individual and an insurance provider, wherein the insurance provider guarantees to pay a certain sum of money (sum assured) in case of the insured individual’s death. In order to avail this protection, the insured pays a certain amount as premium towards maintaining the policy.

It is nothing but a safety net which provides financial security/protection against loss of life. The primary purpose of a life insurance policy is to protect the financial interests of the insured’s family.

While one might think that this is a recent concept, studies have shown that it has been around for centuries, with different variations of insurance dating back to 1750 BC.


There are 3 basic aspects related to life insurance, namely:


Premium - An individual is accorded cover only if he/she pays a certain sum of money towards the policy. This is termed the premium. One can consider it to be the initial investment which offers returns in the future.
Death Benefit/Sum Assured - This is the money which the insurer assures to pay to the nominee/beneficiary of the policyholder after his/her demise. This varies based on a number of parameters.
Term - An insurance policy provides protection for a certain period of time. This is called the term, and it could vary based on the type of policy chosen.

Life Insurance for NRIs - What you should Know

With an increasing number of NRIs or Non-Resident Indians looking to buy life insurance policies from India, Indian life insurance companies have started to capitalised on this previously untapped segment. So, if you are an NRI or a PIO (Person of Indian Origin), here are a few things you should know about purchasing a life insurance policy in India.


As per the laws set by the FEMA (Foreign Exchange Management Act), Non-Resident Indians (NRIs) can purchase life insurance policies, irrespective of whether they are currently residing within the geographic bounds of the country or not.

The premium payable will remain the same whether you are in Indian national residing in the country or an NRI, provided that the risk remains the same. Thus, if you are residing in a country that is categorised as high-risk, you will have to be prepared to pay a higher premium.

As an NRI, you can make your premium payments online via remittance from the country you are residing in, from a Non-Resident Ordinary (NRO) Account, or a Foreign Currency Non-Resident (FCNR) Account.

Certain insurers have limitation on the sum assured that can be offered to an NRI if they take-up the pre-policy medical screening in a foreign country. The same limit would be higher if you went through your medical screening in an insurer-approved diagnostic centre in India.

A life insurance policy will cover the policy buyer’s death regardless of the country in which it occurs. However, the benefits payable by the plan will completely be repatriable only if the premium was paid in foreign currency. If the premiums were paid in Indian currency, the payout will not be completely repatriable.

As an NRI, you will have to make sure to compare various plans that are available in the market before you choose a policy. Ensure that you take factors like the sum assured, policy benefits, premium payments, and the insurer’s terms and conditions into consideration, and opt for a policy that will provide you coverage as per your needs.














As per the Motor Vehicles Act, 1988, all vehicles running on the Indian roads is mandatory to be insured. Motor insurance companies allow you to choose the type of coverage you want to opt for.


There are two types of motor insurance - Third Party Liability Cover and Comprehensive Motor Insurance Policy.


Motor Insurance category includes Car Insurance: The smartest thing to secure your car financially is by buying a car insurance policy. This would save your finances if your car meets with an accident, or falls prey to any natural disaster like floods, earthquake, theft, etc.


There are 2 types of car insurance policy:


Third Party Liability Car Insurance is nothing but the coverage guaranteed to the third party only i.e. Damage to another person’s vehicle or property, bodily injuries and permanent disability during an accident by your vehicle. It is a mandatory over as per the law. We wouldn’t recommend you to buy this basic third-party insurance if you really love your car from the bottom your heart. This type of coverage is best for people who think motor insurance is mandatory and buy this type just for the heck of it.


Comprehensive Car Insurance is an optional coverage and thus is not mandatory. This type of car insurance provides coverage for third-party and also for your car. It is best for those who want to cover the losses due to the accidents and also to recover losses due to theft and natural disasters, and not for those who take car insurance merely as a mandatory clause.


Two Wheeler Insurance: There is nothing exciting than riding your bike wherever you wish to. Because for many, their two-wheeler is their personality. This makes it very important to insure your two-wheeler. Buying a two-wheeler insurance would save your money against the financial losses if your bike was damaged in an accident or say, robbed.


There are two types of two-wheeler insurance policy:


(1) Third Party Two Wheeler Insurance is nothing but the coverage guaranteed to the third party only .i.e. to another person's vehicle or property, bodily injuries and permanent disability during an accident by your two-wheeler and is mandatory by law. We wouldn’t recommend you to buy this basic third-party insurance if you really love your two-wheeler from the bottom your heart. This type of coverage is best for people who think two-wheeler insurance is mandatory and buy this type just for the heck for it.


(2) Comprehensive Two Wheeler Insurance is an optional coverage and thus is not mandatory. This type of insurance provides coverage to third-party, to you as well as your vehicle. It is best for those who want to cover the losses due to the accidents and also to recover losses due to theft and natural disasters, and not for those who take two-wheeler insurance merely as a mandatory clause. There are certain perks of buying motor insurance which includes personal accident cover, cashless services at network garages, roadside assistance, towing support, etc.



Travel insurance would help you tackle all the travel and medical contingencies while you travel abroad. It is utmost important to add travel insurance to your checklist while you plan your vacation, be it for leisure or business. Travel insurance is gaining back all its lost significance. The main reasons to buy a Travel Insurance is to avoid unforeseen conditions like

Flight delay

Loss of baggage

Loss of passport

Medical emergencies

Emergency dental expenses

Hospital cash allowance

Accidental death

Hijack distress allowance

Financial emergency assistance, etc.


Other than the benefits listed above, it also offers coverage for expenses to take the insured's mortals back to the home country and many more.


Travel Insurance Category includes:


International Travel Insurance

Student Travel Insurance

Group Travel Insurance

Senior Citizen Travel Insurance

Domestic Travel Insurance

Schengen Travel Insurance

Asia Travel Insurance

Corporate Travel Insurance



A home offers the peace, serenity and warmth that you may be looking for after a tiring day at work. Therefore, buying a home insurance is utmost important. It offers protection to the entire structure of your house and ensures utmost security for all the belongings that you may collected over the years. There are certain home insurance policies that offer coverage till 5 years. You would have to pay a premium based on the value of the belongings in your home.


Home Insurance Covers the Structure and Content of your home from below


Fire and Peril Cover:

Due to Fire, Explosion
Aircraft Damage
Missile Testing Operations
Natural Calamities

Landslide and Rockslide
Cyclone, etc.
Man Made Calamities

Theft or Burglary


Home insurance, however, doesn't include loss or damage due to nuclear perils, any consequential loss, damage due to war, damage or any loss due to pollution, contamination, etc. Also, valuables like bullion, gold and silver are not covered, however, if you wish to, then you can certainly opt for a special cover.



Marine insurance is also known as Cargo Insurance. It covers any loss or damage due to cargo, terminals, ships and other transport or cargo through which any property is acquired, transferred or is held between two points that can be the origin and the destination point.


The various types of Marine Insurance includes,


Cargo insurance

Hull insurance

Freight insurance

Liability insurance, etc.



Rural insurance helps to fulfil the requirements of rural and agricultural businesses which is the base of rural insurance. The motive of this type of general insurance is to ensure that working capital as well as assistance is offered to the rural families. This can be done in the form of income generating assets.


Rural Insurance includes


Livestock such as goat, sheep, cattle, etc.

Agricultural pump sets

Plantation like grapes, rubber trees

Sub-Animals including silkworm, honeybee, etc.



Commercial insurance is a type of general insurance that is usually offered to entities which are commercial like industries, businessmen, etc. It offers insurance cover to different business related requirements.


Commercial insurance provides insurance cover to industries like:


Foods and beverages
Oil and gas
Logistics sectors
Automotive, etc.
The various types of commercial insurance include:

Marine insurance
Liability insurance
Energy insurance
Employee benefits insurance
Financial lines insurance
Engineering insurance
Property insurance
International insurance solutions.

There is a list of various other types of general insurance products. They are crop insurance, corporate insurance, fire insurance, householder, shopkeeper, personal accident, property insurance, etc.



Claim Process of Health Insurance

There are two ways to make claim under a Health Insurance Policy: on cashless basis and on a reimbursement basis. In simple terms, for making a claim on cashless basis, the treatment must be done only at a network hospital of the insurance company servicing your policy. For availing the treatment, you would have to first seek an authorization as per the procedures laid down and in the prescribed form. In case of claims on reimbursement basis, the insurance company has to be informed as per their prescribed procedures. The policyholder has to ensure that documents such as claim form, discharge summary, prescriptions and bills to be submitted for reimbursement claim are obtained after hospitalization.


Cashless Service: Seeking Pre-Authorization

Complete the pre-authorization form available at the hospital's insurance/TPA Desk. Send the completed form via email or fax. Approved letter will be sent by the claim management team. Remember that the claim management team could send an inquiry to the hospital or you before authorization. In case the authorization is rejected, initiate the treatment and file claim for reimbursement.


Reimbursement Claim: Claim Submission

Complete the necessary form and submit along with required documents, as per the policy terms and conditions. Necessary documents include discharge summary, prescriptions, bills etc. Approved letter will be sent by the claim management team. Remember that you will be answerable to any queries raised by the claim management team before the letter is issued. In case the claim is rejected, the reasons will be communicated by the team. In case of any emergencies, you need to inform the insurance company within 24 hours of the admission. In case of planned emergencies, the notification has to reach the company 48 hours prior to the hospitalization. Note: If you are a Coverfox customer, you can directly reach out to us for all your claim-related issues and queries.

Claim Process of Travel Insurance

The insured should register the claim within 24 hours of claim occurrence either by contacting the insurance company via calling the toll-free number or through email. Customer can also contact us and register a claim on 1800-209-9970 (Monday to Sat 9am to 9pm). Claim intimation should be done by filling the claim form properly with correct information with the necessary set of documents. Below mentioned information should be provided while registering a claim with the Insurance Company’s Claim Team:

Claim Form Duly Filled - Insured’s name, contact details and policy details

Nature of incident

Date and time of the incident

Location of the incident

Discharge Reports

Original Bills

Visa Copy entry and exit stamp

Cancelled cheque

Note: Above documents are not exhaustive and may require to submit other documents as per the request received from the Insurance Company.




Turmeric Can Reduce Some Oral Cancer

Banglore based researcher has found that a combination of turmeric and pomegranate can act as a low cost remedy for oral cancer specifically found in India.The research was done by Tapas kundu from jawahar lal Nehru centre for advanced scientific research.(JNCASR) and k. gopinath,renowned oncologist. Turmeric which is widely used,in Indian kichen has a molecule (called curcumin)which can inhibit the growth of cancerous cells in the mouth.But the active ingredient in turmeric was not soluble in the researchers prepared a water soluble salt derived from curcumin. They tested the drug on mice and found that tumours got fifty percentage smaller in the treated mice than in the untreated mice.They have also tested it on some samples collected from patients. "Drugs for treating cancers are extremely expensive.but this turmeric based medicine would be a low cost treatment for this poor man's desease" said kundu.