Which Do You Need And When: Travel Insurance Or Medical Insurance?

The purpose of travel insurance is to offer protection while you are travelling for a limited time. A safety backup when going abroad, whether for a vacation or on business, is required even though it may be optional for domestic travel.

The travel insurance benefits offered may include the following:*

• Lost luggage; misplaced accidents; misplacement of personal items; and last-minute cancellations of flights or reservations
• Additionally, short-term and primary medical coverage is offered by travel insurance. Short-term coverage can be helpful for travellers on the road for five days to a year. On the other hand, travellers who intend to travel for more extended periods – six months to a year or more – benefit from having primary medical coverage. 

However, the insurance only covers unexpected medical expenses incurred while travelling. For instance, you can file a claim for medical expenses under your travel insurance plan if you fall in your hotel and break your hip bone. However, you will not be qualified to submit a claim for such costs if you choose to have a tooth extracted while travelling, even though nothing related to the trip causes harm to your tooth.

Additionally, travel insurance offers you coverage in a particular region. The rationale behind travel insurance’s provision of medical insurance is that it gives the insured person the means to recover and travel back to their home nation. Therefore, long-term and chronic illnesses are not covered under this type of insurance.*

Claims are subject to terms and conditions set forth under the travel and health insurance policy.

Medical Insurance: Medical insurance is intended to cover only the medical costs you may incur while travelling. Unlike regular health insurance, which you can obtain even if you are not travelling, such a policy is explicitly created for travellers. However, this type of insurance is only intended for travellers who have lived abroad for some time. Therefore, those with valid visas abroad who are studying, working, or living abroad can all take advantage of such benefits of health insurance. * 

Claims are subject to terms and conditions set forth under health insurance policy.

What Does Medical Insurance Cover:

Your travel insurance will only cover emergency care costs if you experience a medical emergency while travelling. However, if your medical insurance policy covers it, you may receive coverage for long-term care abroad. One of the primary distinctions between travel insurance and medical insurance is this.

Most travel insurance policies don’t cover any pre-existing medical conditions you might have. Consider purchasing an add-on policy or a rider for the required coverage. * Claims are subject to terms and conditions set forth under health insurance policy.

Which Should You Purchase Now That You Are Aware Of The Differences Between Travel Insurance And Medical Insurance?

You must purchase travel insurance if you have short-term travel plans to a foreign country. However, having health insurance makes more sense if you intend to stay in a foreign country while studying or working for an extended period.*

* Standard T&C apply. 

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

1. Refrain From Fleeing Or Leaving The Scene Quickly

Never – and we repeat, NEVER – run away from an accident scene, no matter how minor it may be. What’s worse is that you may be allowing victims to perish who could be saved. If you run, you’ll undoubtedly face hit-and-run charges. This could lead to incarceration.

2. Remain Calm

Yes, the situation is grave. However, you can only attempt to assist others if you maintain composure and clear thinking.

3. Don’ts For Physical Injury

• Don’t Remove Stabbed Object: Removing the stabbed object will worsen the bleeding. The only thing preventing the blood from flowing is the object. It is ideal to let a medical expert handle this situation.

• Don’t Try To Move An Injured Person’s Neck: In a severe accident, you can tell if someone has suffered a spinal injury by looking at their neck. Do not attempt to move that person if it is at an unnatural angle.

• Don’t Feed Food Or Liquids To The Injured: It is ideal to avoid feeding a person at the scene of an accident because it would be difficult to determine the severity of their injuries. Due to jaw injuries, they risk getting choked or becoming unable to chew food.

4. Don’t Hold Anyone Responsible For The Mishap

The accident may leave you with damages and injuries. Blaming the other person, however, will only exacerbate the anxiety that the accident has already brought about.

5. Refuse To Accept A Settlement In The Absence Of An Insurance Representative

The third-party may offer affordable settlements if it is obvious that you were not at fault for the accident. This defeats the point of car insurance.

 Claims are subject to terms and conditions set forth under the car insurance policy.

Following A Car Accident, One Should Do The Following:

1. Examine Your Wounds

Try to check yourself for additional injuries as soon as you feel okay. Move your arms and legs to look for any areas that might be injured since not all wounds will necessarily bleed.

2. Attempt To Stop The Bleeding

If you see a bleeding wound, try to stop the bleeding by tying a cloth an inch above the wound. It will also help to directly press a piece of fabric on top of the damage. Instead of applying pressure with your fingers, use your palm.

3. Request Assistance

Make three calls. Medical assistance should be sought first. The police are contacted again to report the accident, and the car insurance helpline is approached in order three.

4. Take Photos Of The Scene

Start taking pictures of the scene as soon as you know that no one requires immediate medical attention. These will be useful later in a police investigation or comprehensive car insurance claim. It will help in determining the right car insurance coverage.

A third-party insurance policy typically includes a Personal Accident (PA) cover. Personal accident cover for owner-driver is required and available for a small fee. You must understand all aspects of what is a CPA cover in car insurance. Therefore, if you are hurt in an accident, the insurance company will pay you a set amount as compensation. *

 Claims are subject to terms and conditions set forth under the car insurance policy.

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

Understanding the Concept of Zero Brokerage Demat Accounts

Before diving into the advantages of 0 brokerage demat bills, allow’s first apprehend what demat bills are and their position in stock buying and selling. Demat, short for dematerialization, refers to the system of changing bodily shares into digital format. A demat account acts as a stable repository to maintain those digital shares, permitting traders to shop for and promote shares effectively.

Traditionally, brokerage fees have been an integral part of the stock market ecosystem. These fees are charged by brokerage firms for their services, such as executing trades on behalf of investors. While these fees may seem small, they can significantly impact investment returns in the long run. This is where zero brokerage demat account come in.

Zero brokerage demat accounts, as the name suggests, eliminate brokerage fees entirely. Instead of charging a commission for every trade, these platforms adopt a disruptive approach by providing their services at zero cost. This opens up a world of possibilities for investors, enabling them to make more trades, diversify their portfolios, and ultimately maximize their returns.