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.
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.
Here are some essential features and benefits of Pocket Insurance:
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.
Choice With Bajaj Markets, you can explore a wide range of insurance plans under the umbrella of Pocket Insurance & VAS.
The Bajaj Markets platform offers a convenient way of purchasing insurance policies depending on your financial requirements.
Also Read: Wallet Care Protection Plan
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:
You need to factor in certain aspects before purchasing these insurance policies. Take a look at some of them:
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.
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
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.
Individuals can explore multiple products across various segments to cater to varied requirements. The categories include health, lifestyle, assistance and travel.
You can purchase pocket insurance plans with premiums starting from as low as Rs. 19, as per your needs.
No, you cannot renew these policies after expiry; you need to repurchase them.