About Insurance

Financial Protection

General Insurance comprises of insurance of property against fire, burglary etc, personal insurance such as Accident and Health Insurance, and liability insurance which covers legal liabilities. There are also other covers such as Errors and Omissions insurance for professionals, credit insurance etc.

Insurance helps individuals and businesses manage the financial impact of unexpected events. Depending on the type of policy, it can protect life, health, property, vehicles, travel, and business liabilities. By transferring covered risks to an insurer in exchange for a premium, insurance reduces financial uncertainty and supports recovery when a loss occurs.

Insurance Planning is one of the most important pillars of Financial Planning.

How Insurance Benifitis

Advantages & Particulars

Increasing liabilities

People today prefer to take loans to fulfill their needs, instead of waiting to save for the future. Hence, in your absence, your family needs to take care of this loan.

Nuclear family structure

In today's nuclear family structure, there's often limited financial support from extended family. Insurance becomes crucial as it provides the necessary financial safety net that extended family members would traditionally provide.

Increasing lifestyle diseases

People these days are prone to many diseases as a result of which the longevity of life is also reduced. Thus it gets important to take an appropriate risk cover and give your family a financially secure future.

Loans & Liabilities

Insurance policy also helps to cover up one's loans and liabilities. The house one buys for our shelter, we would never want to let it go. Thus an insurance policy can help one to cover the loan liabilities.

Protection for Your Whole Family

An extensive insurance policy does not only protect you. It covers all the members in your family like your Parents, Childs, Wife and even your many more.

Tax benefit

Insurance policies offer various tax benefits under different sections of the Income Tax Act. Life insurance premiums qualify for deduction under Section 80C, health insurance under Section 80D, and other insurance products provide additional tax advantages.

Customizable Coverage

Enhance your insurance policy with optional add-ons such as critical illness cover, accidental death benefit, waiver of premium, hospital cash benefit, and disability cover to suit your protection needs.

Financial Protection

Insurance provides comprehensive financial protection for you and your family. It offers peace of mind by covering various risks and providing financial support during emergencies, ensuring your loved ones are protected.

Low Cost of Premium

The best feature about a term insurance plan is that you can get a large cover at an affordable premium. Plus, the earlier you buy, the lesser the premium you pay.

How its Work

Insuring the future of your loved ones

Insurance works on the principle of risk pooling where many people pay premiums to create a fund that compensates those who suffer losses. When you buy an insurance policy, you transfer the financial risk to the insurance company in exchange for premium payments. The company uses actuarial science to calculate risks and premiums, ensuring they can pay claims while maintaining financial stability.

Given the increasing cost of living and responsibilities in life, each one of us is looking for ways to manage money efficiently. The financial instruments that offer an opportunity to build wealth and get life security can be an excellent choice to achieve that.

Types of Insurance

Insurance provided by Beekay

Motor Insurance
Home Insurance
Fire Insurance
Travel Insurance
Term Plan Insurance
Mediclaim Insurance
Group Life Insurance
Personal Accident Plan

Motor Insurance

Motor insurance provides comprehensive coverage for your vehicle against various risks including accidents, theft, natural calamities, and third-party liabilities. It's mandatory by law and offers financial protection for both your vehicle and third parties involved in accidents. The coverage and premium depend on factors like vehicle type, age, and chosen policy features.

According to Sec 146 of the Motor Vehicles Act, 1988, it is imperative that you purchase motor insurance prior to taking your vehicle out on the roads. Should you not want to buy a comprehensive insurance plan, getting third-party policy coverage is the bare minimum that you are mandated to acquire for your vehicle to ply.

Coverages :

Burglary/Housebreaking / Theft
Riot & Strike
Earthquake
Flood, Storm, Cyclone
Accidental external means
Malicious Act
Terrorism acts
Land slide / Rock slide

As evident, vehicle insurance has many benefits on offer. Not only it compensates for the damages suffered by your vehicle but also takes of liabilities due to losses suffered by a third-party. It prevents out-of-expenses in getting your vehicle back into shape and gives your family a financial cushion in case of your untimely demise due to an accident.

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