Times of India
In India, the increased medical costs are the biggest concerns among the individuals. Moreover, the kind of lifestyles people prefer nowadays can ultimately lead to several health issues and turnout in augmented expenditure on hospital bills.
Financial Crises are unpredictable and can encounter anyone at any point in time. In such a situation one looks for a financial support through various options. One can need the funds to overcome this financial crisis and the traditional life insurance policy fall short to help as the possibility is quite low to get the funds through this traditional means before the end of tenure. One can think of loan as an alternate option but it might be limited when it comes to the amount of the loan.
The calendar year 2018 would be important year for the growth of motor insurance in India. Two major announcements by the Insurance Regulatory and Development Authority of India (IRDAI), on long term insurance cover and increasing the compulsory personal accident cover (CPA) will have long term benefits to both insurers as well as policyholders.