Understanding General Insurance

2. Insurance • Insurance is a protection against the financial loss arising on the happening of an unexpected event. • A person can avail this protection by paying a premium to an insurance company.

3. How is Insurance Classified INSURANCE GENERAL INSURANCE LIFE INSURANCE MOTOR INSURANCE FIRE INSURANCE HEALTH INSURANEC

4. Type of Insurance • Motor insurance • Health Insurance • Life Insurance • House Insurance • Senior Citizen Insurance

5. Insurance Claim • An insurance claim is the actual application for benefits provided by an insurance company.  • Policy holders must first file an insurance claim before any money can be disbursed to the hospital or repair shop or other contracted service. • The insurance company may or may not approve the claim, based on their own assessment of the circumstances.

6. Process of claim • Claim process varies depending on the company, but most of them follows the shown path. • There are 2 types of claims that are given by the insurance companies • Cashless Claims • Reimbursement Claims

7. Cashless Claims In cashless claim facility, the charges are paid directly to hospitals (health claim), garage (motor insurance) etc., provided the service is taken from operators who are in network with the insurance providers. Here lets take example of health insurance claim

8. Non-cashless/ Reimbursement If you get service done from other service providers, not included in insurance providers network. Than you need to submit bill to get insurance claimed. Here lets take case of health insurance claim

9. Thank You