Wednesday 21 March 2018

5 Things to Know Before Renewing National Insurance

National Insurance, a public-sector insurance company is one of the oldest insurance companies that cater to both rural and commercial insurance sectors. They cover everything from health, motor, travel insurance and so on.
They have a convenient way of renewal of policy online which is quick and secure.

National Insurance Company at A Glance
National Insurance Company has a very wide network with almost 2000 offices all over India and Nepal. Although Motor Insurance is their highlight product, they have customized plans for all categories in rural and commercial sectors. The sections they cover are:
  • Two-Wheeler InsuranceTwo-wheeler insurance is mandatory as per the law for the vehicle driver or owner. National Insurance proposes low cost two-wheeler plans for insurance. This plan covers any damage to the vehicle as well as third party liability.
  • Car InsuranceIt is also mandatory to possess car insurance in India. Car insurance provides coverage for any damage with respect to your car due to theft, damage, accident or natural calamities. The policy provides third party damage cover and easy claims settlement.
  • Parivar MediclaimAs the name suggests, Parivar Mediclaim is a family health insurance policy that covers any losses to your family during a medical emergency. This is an affordable policy since it covers all members of the family instead of individual policies.
  • Parivar Mediclaim PlusThis policy is like an add-on to the Parivar Mediclaim as it includes coverage for the extended family as well as in-laws. It includes all the benefits and features of Parivar Mediclaim as well.
  • National MediclaimNational Mediclaim policy provides coverage for expenses incurred for treatment of injury or any illness as well as hospitalization expenses.
  • National Mediclaim PlusAs an add-on to National Mediclaim policy, National Mediclaim Plus covers high cost expenditure incurred for medication or hospitalization.
  • Travel InsuranceWhen you travel, it is a wise decision to insure your health and property against any damage or losses. Travel insurance policy protects you from theft, burglary, loss of baggage and so on. There are tailor made plans for domestic or international travel as per your requirements.
    e.g. Overseas Mediclaim -Holiday and Business and Overseas Mediclaim- Employment and Studies.
  • House InsuranceNational’s house insurance policy offers insurance plans after evaluating the worth of the house or property.
    Apart from the above, National Insurance also offers plans for the lower income group, rural insurance, industrial insurance, critical illness plans and individual policy cover.
National Insurance Company Online Renewal
National insurance company online renewal has never been easier thanks to the internet wave. Just like buying online, renewal online is quick and safe by following a few simple steps.
  • Visit the customer portal for National Insurance company online renewal and choose the renewal option.
  • You will be taken to the renewal page.
  • You will be asked to give your insurance policy number and other details.
  • In order to complete the renewal policy, you need to make payment of premium through debit or credit card.
Once you successfully pay the premium, you will receive a copy of the policy of the insurance in the mail. The copy is also available for download in the company website. 

If you have a policy with some other insurance company, you are still eligible to renew with national insurance company and avail all benefits by providing the details before the due date.

Renewal Rules for Each Policy
National Insurance Company Online renewal has different rules for different policies.
  • National Insurance individual mediclaim plans typically have an annual limit and are renewed every year through National Insurance Company Online renewal.
  • Family floater plans offer renewability option till about 60 to 65 years of age. Some plans also offer lifelong renewability. Choose the plan that suits your needs the most.
  • Senior citizen insurance plans must have a late entry age, typically over 65 years; hence they have lifelong renewability through National Insurance Company Online renewal.
  • Critical illness insurance plans are useful when you are diagnosed with some severe illness. All expenses for the treatment of the condition are covered by the insurance policy. This policy has a renewable limit of 60-65 years.
  • No Claim Bonus refers to the discount given to the policy holders who haven’t claimed the policy amount in the year. This bonus is usually given at the time of renewing the policy. So you should check if you have received your No Claim Bonus during National Insurance Company Online renewal.
Renewal of your insurance policy through National Insurance Company Online renewal system will save you a lot of effort and time. This method is gaining popularity as it only takes a few minutes to renew any policy from the comfort of your home. The National Insurance Company Online renewal system can be used to renew all policies of National Insurance in a safe and secure way.

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