Pocket Insurance & VAS

Need-based Plans | Affordable Premium | Instant Process

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Considering the uncertainties of life and the rising risk of human-induced and natural disasters, purchasing a comprehensive insurance policy has become essential. However, such insurance plans, even though they are comprehensive, may not include coverage for various smaller life risks. Moreover, such mishaps can include sudden hospitalisation for a shorter period, seasonal illnesses, wallet theft, mobile screen damage and the likes.

 

Such incidents will incur a substantial cost, and you may lose out on a hefty amount of your savings. This is where Pocket Insurance available on Bajaj Markets can come as a saviour. With such insurance plans, you will be relieved from these financial burdens.

What is Pocket Insurance?

As its name suggests, pocket insurance is a dedicated category of insurance plans that is available at an affordable cost and extends reasonable coverage. These policies work like standard insurance plans, where you need to purchase one by paying a pre-set amount.

 

The claim process and other particulars are similar to that of traditional insurance plans. However, unlike regular insurance plans, you cannot renew them, and after its policy period, the policy gets lapsed. Resultantly, there is no ‘no claim bonus’ available with these policies as well.

 

An advantage of this particular insurance product is that it has numerous products across multiple categories. Additionally, the membership fee for availing of these policies is nominal and starts from as low as Rs. 19. Such products are exclusively created to cover everyday hazards and risks that may not be covered by traditional insurance policies.

Features of Pocket Insurance

Here are some essential features and benefits of Pocket Insurance:

Affordable Premiums

The insurance plans offered under Pocket Insurance & VAS category extend substantial coverage at affordable premiums. To cite an example, you can avail of a wallet care plan at a premium of just Rs. 699 and ensure coverage of up to Rs.2 Lakhs in case of wallet theft or experiencing credit/debit card fraud.

Wide Range of Products

These insurance plans are tailored to extend coverage that is usually not available under traditional policies. This includes a wide range of insurance products, including categories like health, lifestyle, wellness, travel, etc.

Easy Online Application

You can conveniently apply for the plans under your preferred category by filling out an online application form and paying the fee through any online mode such as credit/debit card, mobile wallet, bank transfer, etc.

Minimal Documentation

Besides, you are not required to submit heaps of documentation for purchasing these policies. Instead, you can purchase your preferred policy with basic documents such as age proof and KYC documents.

Suitable for Temporary Requirements

With plans designed for everyday needs, they act as the perfect cover for need-based financial crises, so you need not be stuck with a commitment of long-term continuity of plans.

Why Choose Bajaj Markets for Pocket Insurance?

Trusted Partners

Bajaj Markets is a diversified online marketplace offering a wide range of products for all your financial requirements. They have partnered with leading insurance companies to create a one-stop destination for multiple insurance policies and products.

 

Abundant Choice

Choice With Bajaj Markets, you can explore a wide range of insurance plans under the umbrella of Pocket Insurance & VAS.

 

Quick & Convenient Process

The Bajaj Markets platform offers a convenient way of purchasing insurance policies depending on your financial requirements.

 

Also Read: Wallet Care Protection Plan

How to Buy Pocket Insurance?

Applying for any insurance plan under Pocket Insurance & VAS category is hassle-free and convenient. Following are some of the simple steps to purchase these insurance plans:

  • Visit Bajaj Markets and go to the Pocket Insurance and VAS product page

  • Select the product and click on ‘Buy now’

  • Fill in the necessary details on the online application form

  • After the application is complete, complete the premium payment

Things to Consider Before Buying the Policy

You need to factor in certain aspects before purchasing these insurance policies. Take a look at some of them:

 

  • Inclusions and exclusions of the plan

Inclusion and exclusion of a policy state the benefits you are eligible for and the ones you cannot avail of. Therefore, one should have total clarity about both these factors before choosing an insurance plan.

 

  • Sum insured and policy premium

To purchase a policy, individuals are required to pay a certain premium. If the coverage is higher, the premium will also be higher. Therefore, it is essential to have a thorough knowledge pertaining to premium and coverage amounts to make a budget-friendly purchase

Claim Process for Pocket Insurance

Understanding the claim process is as important as understanding the features and benefits of the product. This also includes noting the claim settlement ratio of the insurer to rest assured that your legitimate claims will be approved without any hassle.  

Frequently Asked Questions

  • ✔️What are the categories of Pocket Insurance & VAS products?

    Individuals can explore multiple products across various segments to cater to varied requirements. The categories include health, lifestyle, assistance and travel.

  • ✔️What are the premium costs of Pocket Insurance plans?

    You can purchase pocket insurance plans with premiums starting from as low as Rs. 19, as per your needs.

  • ✔️Can I renew my Pocket Insurance policy after its expiry?

    No, you cannot renew these policies after expiry; you need to repurchase them.