|Insurance Buying Tips #1: Shop smart|
|When looking for insurance, your No. 1 priority should be to find adequate coverage. Price is important, but you’ll want to determine what kind of coverage you need first. Then you can fit that coverage into your budget and determine which carrier can provide you with the most comprehensive policy for your situation. You may be tempted to choose insurance with the lowest price tag, but if you don’t have enough coverage (or the right kind of coverage), you will see less financial benefit when it comes time to file a claim.|
|Insurance Buying Tips #2: Look for discounts|
|Once you evaluate your coverage needs, factor in your budget and find ways to save. Ask your insurance agent if there are any discounts on your coverage. Often, carriers offer discounts for things like paying your policy in full, staying auto accident-free or, if you’re in school, getting good grades. You also can save money by “bundling” multiple policies, such as purchasing a home and auto policy from the same carrier.|
|Insurance Buying Tips #3: Fill in the gaps|
|An average policy will cover the basics, but you may need to add extra coverage to meet your unique needs. For instance, you may have items like electronics or a nice piece of jewelry that would be financially difficult to replace, even with the assistance of your average renters or homeowners policy. You may want to add additional coverage for these items.|
Health insurance is a pre-emptive measure that ensures that at the worst moments, individuals do not have to worry excessively about money at least. This article will review Cigna TKK Health Insurance in order to give customers an idea about whether it is a policy that would suit them.
About the Company
CignaTTK Health Insurance Company Limited has a partner, Cigna Corporation, who is the first US Health Insurer to come into India. The other partner, TKK Group is a well-known Indian conglomerate. They have started business very recently, in 2014.
The company, amongst other things, aims to make its health insurance affordable for a wide range of consumers. To this end, they have a diverse set of policies that will allow flexibility to potential customers.
Their head office is in Mumbai, and they have offices in more than eleven cities. Their plans cover both individuals and families with various features to make each attractive.
A Look at the Policies
They have six plans:
- ProHealth Protect Plan: Coverage amountis Rs.2.5 lakhs or Rs.3.5 lakhs or Rs.4.5 lakhs.
- ProHealth Plus Plan: Coverage amount isRs.4.5 lakhs or Rs.5.5 lakhs or Rs.7.5 lakhs or Rs.10 lakhs.
- ProHealth Preferred Plan: Coverage amount is Rs.15 lakhs or Rs.30 lakhs or Rs.50 lakhs.
- ProHealth Premier Plan: Coverage amount is Rs. 1 crore.
- Lifestyle Protection – Critical Care Plan: This is dependent on an earning member's income but for an earning member is ten times the annual income.
- Lifestyle Protection – Accident Care Plan: Coverage will vary according to various factors.
The premium is decided based on a number of factors including (as is standard) age, gender and health status.
|Insurance Buying Tips #4: Purchase life insurance—you aren’t too young|
|Life insurance is essential, no matter how young or old you are. And for millennials, buying now may be a smart move because it’s cheaper to buy a life insurance policy when you’re young and healthy. This kind of insurance can help your family cover unexpected costs in your absence, including student loan debt or a mortgage, in addition to end-of-life costs. And if you have kids, a life insurance policy can also support their education or childcare expenses. Additionally, every millennial should consider long-term disability coverage, which helps you stay afloat financially if an accident happens and you become disabled and unable to work.|
|Insurance Buying Tips #5: Talk to an independent agent|
|An independent insurance agent is an essential resource when purchasing insurance—especially if this is your first time. An independent agent works with multiple different carriers, which is different from captive agents who can only sell insurance from the carrier they work for. Working with an independent agent can help make sure that you are getting the best coverage, for the best price. You’ll also benefit from independent agents’ insurance knowledge; they know how to talk you through your options and actually explain what each policy includes. An independent agent will make sure all of your assets are covered, help you find discounts or other ways to save, and be a valuable resource as your life changes and your insurance needs change, too.|
|Insurance Buying Tips #6: Only buy insurance to maintain your existing standard of living|
|You don’t need insurance for events that won’t severely strain your finances. Start with your basic needs (home, auto, business), then work your way to include other needs (cyber, liability). You can always obtain coverage later for something if you change your mind. You can minimize your risk and maximize your savings by buying insurance that won’t cause you to break the bank.|
What Makes Cigna TKK Health Insurance Unique
There are a number of factors that make Cigna TKK Health Insurance an attractive proposition.
- They allow for maternity expenses after four years of the policy. They also allow for first year vaccination expenses for the new born. These are relatively uncommon for insurance policies.
- After a two year waiting period, they cover expenses for pre-existing diseases.
- Under a number of circumstances, they have no maximum for their entry-age.
- They have global cover in some of their plans, for medical emergencies when not in India. This is also relatively uncommon but may come as a relief to a lot of consumers.
In summary, Cigna TKK Health Insurance has set up a bunch of plans that are different and all in all will be attractive to a wide customer base. As they are still a new firm with all the uncertainty that entails, it is understandable if customers are still wary of approaching.
Nevertheless, their customer-friendly policies may be expected to be popular. 'Protect' plans provide full health check-ups every 3 years under the right circumstances, and 'Premier,' 'Preferred' and 'Plus' customers may be able to claim check-ups yearly. Their family coverage and family discounts are also well thought out and may be very popular.
|Insurance Buying Tips #7: Ask your insurance provider what the policy doesn’t cover|
|Every insurance policy has perils that are not covered by your policy. These perils are referred to as “exclusions”, and every policy has them. Ask your insurance provider to explain the exclusions in your policy to avoid discovering what they are once you incur damages or a loss.|
|Insurance Buying Tips #8: Consider bundling several policies with one insurance carrier|
|here may be value in bundling several policies with one insurance carrier. If you’re looking to insure multiple vehicles or obtain multiple types of business coverage (e.g., liability, property, cyber), then you may want to consider obtaining coverages under one insurance provider who carries multiple products, and who may be able to offer you multi-policy discounts or loyalty programs.|
|Insurance Buying Tips #9: Review your insurance needs on a yearly basis|
|As your needs evolve, so will your insurance policy. Maybe you’ve acquired a new vehicle since obtaining auto insurance for your primary vehicle, or started operating your business out of your home, or experienced a cyber-attack during the year… Whatever the change(s), you’ll want to make sure you’re covered for any new risk exposures. Talk to your insurance provider to stay on top of your insurance needs.|