New India AssuranceIncurred Claim Ratio - 96*
New India Assurance Company Limited Overview
The New India Assurance Company Limited, headquartered in Mumbai, is the wholly government-owned multinational general insurance company operating in 28 nations across the globe. Established by Sir Dorabji Tata in 1919, the company was nationalized in 1973 and became a subsidiary of General Insurance Corporation of India (GIC). In 2003, GIC transferred the ownership of New India Assurance to the government of India.
New India Assurance has been a pioneer in the non-life insurance segment for over 40 years. It is one of the leading global insurance groups in the international market an existing network of 2394 offices in India. Atul Sahai is the Chairman cum Managing Director (MD) of The New India Assurance Company.CRISIL has conferred AAA/Stable rating to the New India Assurance Co. Ltd. AM Best has rated A - (Excellent -Stable Outlook). This makes it the only direct insurer to confer this rating.
New India Assurance Company Awards & Achievements
Headed by a team of competent professionals who have helped the company to stay distinctively ahead of the competitors, The New India Assurance Company Limited has gained a significant momentum owing to below achievements:
- First insurer to set up an aviation insurance department in 1946
- First insurer to handle all requirements of the Indian shipping fleet
- First insurer to set up its own training school
- The largest number of offices in India and abroad
- Global presence in countries like the UK, Australia, Mauritius, Thailand, New Zealand, the UAE and the Philippines
Apart from the aforementioned achievements, New India Assurance has conferred the following awards in the past few years:
|Year||Award Won by the Company||Authority|
|2019||India’s Leading General Insurance Company (Public) Award 2019 at Dun & Bradstreet BFSI Companies Awards||Dun & Bradstreet|
|2019||Best General Insurer of the Year at Business Today Financial Award||Business Today|
|2018||Outlook Money Gold Award||Outlook Money|
|2018||Customer Service Order-of-Merit at SKOCH Awards||SKOCH|
|2017||Insurance Company of the Year at India Insurance Summit||Quest Conferences|
|2017||Golden Peacock Business Excellence Award||Golden Peacock|
|2017||India’s Leading Insurance Company-Non-Life Public Sector at Dun and Bradstreet BFSI Awards||Dun & Bradstreet|
|2016||Best General Insurance Company by ABP News||ABP|
|2016||General Insurance Company of the Year at Indian Insurance Awards||FINTELEKT|
|2016||Dun & Bradstreet PSU Award – Non-Life Insurance||Dun & Bradstreet|
|2015||Insurance Company of the Year at Samudra Manthan Awards||Digital Empowerment Foundation|
|2015||Best Health Insurer at Outlook Money Awards||Outlook Money|
|2015||Claims Service Leader - Large Companies at Indian Insurance Awards||FINTELEKT|
New India Assurance Company Limited Plans:
- New India Health Insurance: It covers policies like individual health policy, family floater, senior citizen health policy, single girl child policy, etc.
- New India Motor Insurance: It covers car, commercial vehicle and two-wheeler insurance.
- New India Travel Insurance: It covers overseas travelers against unforeseen emergencies during their trip.
- New India Business & SME Insurance: It includes insurance like fire, burglary, jewellers block policy, money insurance, etc.
- New India Miscellaneous Insurance: It covers aviation insurance, marine insurance, industrial insurance, liability insurance and rural insurance.
- New India Home & Contents Insurance: It includes fire policy for home, householder’s policy and Griha Suvidha policy.
- New India Rural Insurance: It is offering insurance plans like animal-driven cart insurance, poultry insurance, farmers package insurance, Janata personal accident, etc.
- New India Marine Insurance: It offers policies like marine builders risk, ship breaking insurance, voyage insurance, port package policy, etc.
Life is uncertain! One day you are healthy and enjoying a party, and the next morning you find yourself in a hospital. Scary thought, isn’t it? The best way to manage such uncertainties is to have a health plan that will ensure that there is no financial distress. It will also guarantee that you don’t compromise on your treatment just because of the financial issues.
Here are the various health insurance policies offered by The New India Assurance Company:
|Name of the Plan||Type||Policy Term||Sum Assured|
|New India Asha Kiran||Family or Individual||1 year||Rs. 2,3,5 and 8 lakh|
|New India Mediclaim||Family or Individual||1 year||Rs. 1 lakh to Rs. 15 lakh|
|Cancer Medical Expn -Individual||Family or Individual||1 year||Rs. 50,000 to Rs. 2 lakh|
|New India Family Floater Mediclaim||Family||1 year||Rs. 2,3,5, 8, 10, 12 and 15 lakh|
|Jan Arogya Bima||Family and Individual||1 year||Rs. 5000|
|Janta Mediclaim Policy||Family or Individual||1 year||Rs. 50,000 or Rs. 75,000|
|New India Global Mediclaim Policy||Individual||-||US$ 5,00,000 - US$ 10,00,000|
|New India Premier Mediclaim Policy||Family and Individual||-||Rs. 15 lakh to Rs. 1 crore|
|New India Sixty Plus Mediclaim Policy||Individual and Family||-||Rs. 2,3 and 5 lakh|
|New India Top-up Mediclaim||Family or Individual||-||Rs. 5 lakh to Rs. 22 lakh|
|Standard Group Mediclaim Policy||Group||1 year||Variable|
|Senior Citizens Mediclaim Policy||Individual||1 year||Rs. 1 lakh; Rs. 1.5 lakh|
|Universal Health Insurance||Group||-||Rs. 25,000 and Rs. 30,000|
|Rashtriya Swasthya Bima Yojana||Individual and Family||-||Up to Rs. 30,000|
New India Asha Kiran Policy:
This New India Assurance policy is meant for parents who only have single girl child. The proposer has to be between the ages of 18 years to 65 years and the girl child can be covered from 3 months up to 25 years. It covers unforeseen hospitalization expenses and provides an accident cover to the proposer, his or her spouse and the dependent daughter. Mid-term inclusion of a second girl child is allowed on payment of additional premium on a pro-rata basis.
New India Mediclaim Policy:
New India Mediclaim Policy is specially designed for individuals with an age between 18 and 65 years. This policy by the New India Assurance Company Limited covers all hospitalization expenses. You and your family can be covered under one insurance policy, with a separate sum assured for every insured person. This policy covers a maximum of six members including the policyholder, policyholder’s spouse, his/her children and parents.
Cancer Medical Expn - Individual:
The Cancer Medical Insurance scheme covers all medical expenses incurred on the cancer treatment. This policy by the New India Assurance Company Ltd is offered to the Indian Cancer Society’s members. This cancer society provides various kinds of membership to its members like corporate members, life members, well-wisher ordinary members, etc. All members have to pay a membership fee, which includes the insurance premium.
The New India Family Floater Mediclaim Policy has been designed to cover all the family members with one sum insured. It can be issued to persons between the ages of 18 and 65 years, and cover the policyholder, his spouse and up to two dependent children. The policy by Neeewww India Assurance covers pre, post and in-hospitalization expenses. It also covers day-care treatment and ambulance charges. Ayurvedic, Homeopathic and Unani treatments are covered to the extent of 25% of the sum insured, provided the treatment is taken in a registered institute or government hospital.
Jan Arogya Bima Policy:
New India Assurance’s Jan Arogya Bima Policy is specially designed to offer cheap health insurance to the poorer sections of the society. The policyholder does not have to pay any service tax under this policy.
Janta Mediclaim Policy covers medical expenses including hospitalization expenses, day-care treatment, ambulance charges and treatment by Ayurvedic, Homeopathic and Unani. It is available to people between the age of 18 and 60 years. Children between the age of 3 months and 18 years can be covered, provided the parents are covered simultaneously. If you’ve attained an age beyond 60 years, then you can continue your insurance policy, provided you’re insured under the New India Assurance Mediclaim policy.
New India Global Mediclaim Policy:
New India Assurance Global Mediclaim Policy is designed for individuals who have health insurance with a sum assured of Rs.8 lakh or more. The minimum age of entry is 18 years and the maximum age of entry is 65 years. This policy covers expenses incurred on cancer surgery, neurosurgery, heart valve surgery, Coronary Artery Bypass Graft (CABG) surgery, living organ donor transplant, and bone marrow transplant.
New India Premier Mediclaim Policy:
The New India Assurance Premier Mediclaim Policy covers all kinds of hospitalization expenses. The policyholder can cover up to 6 family members under this policy including himself, his/her spouse, dependent parents and children. This policy comes with hospital cash benefit and critical care benefit.
New India Sixty Plus Mediclaim Policy:
The New India Assurance Sixty Plus Mediclaim Policy covers people between the ages of 60-80 years. Children can buy this insurance policy for their parents and avail higher tax benefits under Section 80D for senior citizens. This policy covers pre-hospitalization and post-hospitalization expenses for up to 30 and 60 days respectively.
New India Top-Up Mediclaim:
This New India Assurance policy covers in-patient hospitalization expenses that are incurred within India. While the proposer should be between 18 and 65 years, other members should be between the ages of 3 months and 65 years in order to get covered under this policy.
The Senior Citizen Mediclaim Policy is available to all senior citizen residents in India, aged between 60 and 80 years. If this New India insurance policy renewal is done without a break, then the New India Assurance cover can be continued up to the age of 90 years. You must undergo prescribed pre-acceptance health checks at your own cost to identify the pre-existing diseases. The health check is waived-off if you already have mediclaim insurance in continuity with New India Assurance.
New India Standard Group Mediclaim Policy:
As the name suggests, this Standard Group Mediclaim Policy by New India Assurance offers mediclaim services for the entire group. It is targeted at corporations, businesses, enterprises, etc. that need to buy a policy for their entire group of employees or selected individuals.
New India Universal Health Insurance Policy:
The Universal Health Insurance Policy by the New India Assurance Company is available to the groups of over 100 families. It covers the hospitalization expenses including boarding, room expenses as provided by the nursing home or the hospital.
Rashtriya Swasthya Bima Yojana Policy:
This policy by the New India Assurance Company is available to an individual as well as his family members. Rashtriya Swasthya Bima Yojanaprovides reimbursement of the hospitalization expenses for diseases and illnesses suffered or any injury sustained by the policyholder and his family members.
New India Motor Insurance Plans:
The New India Assurance Company provides you with comprehensive motor policies that lets you take care of yourself and your car in case of an accident. As per the Motor Vehicle Act 1988, every vehicle owner has to have an insurance policy that covers any legal liability of the owner to pay compensation to a third party for accidental death, bodily injury or damage to the property. The owner must carry the Certificate of Insurance in the vehicle as a document of proof.
The New India Assurance Motor Insurance is classified into three major categories. They are:
- Commercial Vehicle
- Private Car
- Two Wheeler
New India Commercial Vehicle Insurance Plan:
The New India Commercial Vehicle Insurance by New India Assurance covers all kinds of commercial vehicle plying on Indian roads. This insurance policy offers two types of covers namely, Package Policy and Liability Only Policy.
The Liability Only Policy is the policy that covers the third-party liability of the owner for the demise and/or any bodily injury liability and property damage. It also includes personal accident cover for the owner-driver. However, Package Policy covers the damages or losses to the vehicle insured along with the cover provided by the Liability Only policy. The Liability Only policy for commercial vehicles covers property damage up to Rs. 7.5 lakh.
The New India Private Car Insurance Policy covers all kinds of private cars plying on public roads. Just like the Commercial Vehicle Insurance offered by the New India Assurance Company, Private Car Insurance Policy also provides both Liability Only policy and Package policy. The Liability Only policy for private cars covers property damage for up to Rs. 7.5 lakh.
New India Two Wheeler Insurance Policy:
New India Two Wheeler Insurance Policy covers all sorts of two-wheelers including motorcycles and scooters plying on public roads. Just like other motor insurance policies by New India Assurance, this policy also covers both Liability Only policy and Package Policy. The Liability Only policy for two-wheelers covers property damage to the tune of Rs. 1 lakh.
The New India Assurance Motor Insurance also offers additional policies with Compulsory Accident Cover (CPA) and Own damage (OD)including:
- Standalone CPA Cover
- Standalone OD for Motor PC (for private cars)
- Standalone OD for Motor TW (for two-wheelers)
New India Assurance Travel Insurance:
Whether there is a flight delay, baggage loss or medical emergency when you are traveling abroad, New India Travel Insurance takes care of everything. The New India Assurance company offers the best travel insurance policy to ensure that you have a tension-free and hassle-free journey.
This Overseas Mediclaim Policy by the New India Assurance Company is available for people traveling abroad for employment & studies as well as frequent corporate travelers. Medical expenses incurred by the insured individuals outside India as a direct consequence of any bodily injury, sickness or disease contracted are covered under this policy. The insured should be between 6 months and 70 years of age. While the premium is payable in Indian rupees, the New India Assurance claims are settled abroad in foreign currency. The policy has to be taken prior to departure from India and is available for an initial period of 180 days.
New India Overseas Mediclaim (Bus & Hol) Policy:
This Overseas Mediclaim policy by New India Assurance covers the insured against any medical expenses arising out of an illness or injury caused during his international trip. The plan can be opted by individuals or families on holidays as well as frequent business travelers between the ages of 6 months and 70 years. It also covers delay or loss of check-in baggage, loss of passport and personal liability. The policy is available for an initial period of 180 days.
Home & Contents Insurance by New India Assurance help to safeguard your home and give you comprehensive coverage against many perils including fire, burglary, natural disasters and domestic appliance breakdown. This insurance policy has three types of plans:
- New India Householder’s Policy
- Griha Suvidha Policy (Tenants and Owners)
- Fire Policy for Home (Safe Home)
New India Business And SME Insurance:
Business and SME Insurance by New India Assurance offers customized policies to protect businesses and small & medium enterprises from any damage or losses.
Plate Glass Insurance:
The Plate Glass Insurance provides cover against any accidental breakage of plates or glasses in a commercial establishment including showrooms. It does not include breakage due to earthquakes, fire, explosions, etc.
New India Assurance also provides other types of Business & SME Insurance that include:
- Jewellers Block Insurance
- Fire Declaration
- Fidelity Guarantee Insurance Policy
- Neon Sign Insurance
- Money Insurance
- Shopkeeper’s Policy
Multi Peril Policy for LPG Dealers New India Miscellaneous Insurance Plans:
The New India Assurance Company offers a diversified range of plans under its miscellaneous category. They are:
Road accidents are always on the surge owing to bad roads, rash driving and poor driving skills of people. Having a Personal Accident Insurance plan by New India Assurance is important as it covers accidentalemergencies and takes care of any financial distress arising out of it. It compensates for the death or permanent total disability of the insured and takes care of any medical treatment expenses for bodily injuries. The policy can be availed 24x7 at any corner of the world.
The New India Assurance Rasta Apatti Kavach (Road Safety Insurance) policy has been designed to cover an individual in motor vehicle accidents on the road that leads to hospitalization. It also has a provision for compensation for death and permanent disability. The sum insured is available for Rs. 25,000 to Rs.1 lakh that extends to Rs. 10 lakh in further multiples. This policy by New India Assurance is available annually as well as for a long-term period for up to 3 years.
New India Industrial Insurance:
This policy by New India Assurance offers different kinds of protection in an industrial setup including machinery insurance, contractor’s risk insurance and contractor’s plant & machinery. Some of the plans offered under Industrial Insurance are:
- Machinery Insurance: Machinery Insurance by New India Assurance is a policy designed to cover financial losses incurred by the policyholder in case of damage or loss to the machinery due to any sudden mechanical breakdown or accidental electrical breakdown.
- Contractors Plants and Machinery: New India Contractors Plants and Machinery Insurance Policy covers various kinds of machinery that are used for construction or to hand material. The policy by New India Assurance covers any accidental or external damage caused to the machinery.
- Contractor All Risks Insurance: Contractor All Risks Insurance by New India Assurance intends to give financial safety to the civil engineering contractors in case of an accident of the civil engineering work while in construction.
- Burglary Insurance:Burglary Insurance by New India Assurance is specially designed to provide cover to the business premises such as offices, factories, godowns, etc. It protects such establishments from any loss or damage caused to the building or its contents due to forced entry or theft.
- Marine Cum Erection Policy: This policy by New India Assurance is a comprehensive policy that covers all kinds of risk that a project can be exposed to starting from the supplier’s warehouse to its erection, testing and commissioning on site. It can be bought jointly or separately by the contractor, sub-contractor or principal.
- Advance Loss of Profit Insurance: Advance Loss of Profit Insurance by the New India Assurance Company covers the actual loss of gross profit that a company faces due to a delay in claim payment under the Storage-cum-Erection policy/ Marine-cum-Erection policy or Contractor’s All Risk policy. The delay period is calculated from the scheduled date to the actual date of starting the commercial operation.Other types of Industrial insurance offered by New India Assurance are:
- Electronics Equipment Insurance Policy
- Consequential Loss Policy
- Mega Package Policies
New India Liability Insurance:
This policy by New India Assurance provides the insured protection against different kinds of liabilities that may cause a financial burden. Some of the plans under Liability Insurance are:
- Carrier Couriers Legal: Carrier Couriers Legal Insurance by New India Assurance pays all the sums for which the policyholder shall become legally accountable as compensation for damage or destruction or physical loss of merchandise or goods while in transit. It also includes damage at the time of loading or unloading of the items.
- Bankers Indemnity: Bankers Indemnity policy by New India Assurance is a package policy, which is designed to cover any risks related to the banking sector that may lead to legal liabilities or losses. It covers money or securities of the bank that may get lost or damaged due to perils like fire, theft, employee dishonesty, etc. All the branches of a bank can be covered using a single policy.
Other types of Liability Insurance provided by the New India Assurance Company are:
- Professional Indemnity Policy
- Product Liability Policy
- Directors and Officers Liability Policy
- Public Liability Policy
- Lift (Third Party) Insurance
- Employers’ Liability Policy
- Liability Insurance Act Policy
- Golfers Indemnity Policy
New India Personal Insurance:
The New India Assurance Company also provides different types of personal insurance like baggage insurance, group mediclaim policy, gun insurance, etc.
- Baggage Insurance: As the name suggests, New India Baggage Insurance by New India Assurance provides cover against damage or loss to accompanied personal luggage of the policyholder and his/her family while traveling. The loss may be caused due to theft, fire or accident at the time of the journey.
In addition to the above policy, the New India Assurance company also offers other types of specific covers for the individual. They include:
- All Risk Insurance
- TV/VCR/VCP Insurance
- Mobile/Cellular Phone Insurance
- BirthRight Insurance
- Gun Insurance
- Group Mediclaim Policy
New India Aviation Insurance:
The New India Assurance Company took part in the Aviation Insurance of Air India in the year 1946. It now offers professional aviation insurance solutions and advice to the needs of the operators of the small aircraft along with the scheduled airlines. The various insurance policies provided under the Aviation Insurance are:
- Hull All Risk Insurance Policy
- Spares All Risk Insurance Policy
- Hull/ Spares War Risk Insurance Policy
- Hull Deductible Insurance Policy
- Aviation Personal Accident (Crew Member)Insurance Policy
- Loss of License Insurance Policy
Apart from the aforementioned plans, there are more insurance policies under the miscellaneous category of New India Assurance. They are listed below:
- Airline Hull War Excess Liability
- Airline Hull Spares Liability
- Aviation Liability Insurance
- Pravasi Bharatiya Bima Yojana
- Portable Equipment Insurance
- Personal Accident (Death and PTD)
- Large Risk Project Insurance
- Good Health Mediclaim
- Office Protection
- Package Liability
- Other Miscellaneous Non-Liability Products
- Other Miscellaneous Non-Liability Policies
- Office Protection Shield
- Students Safety Package
- Students Safety
- Stock Broker Indemnity
- Standard Fire and Special Perils
- Stand Alone Terrorism
- Special Contingency Insurance
New India Rural Insurance Plans:
Any insurance meant for organizations or people located in the rural areas or with some practices and lifestyles from rural areas are referred to as rural insurance. The Rural Insurance by New India Assurance aims at offering best of plans to the people living in rural areas so that they can avail the benefits of the insurance. New India Assurance Rural Insurance plans include:
New India Bhagyashree Insurance:
New India Bhagyashree Insurance Policy aims at providing insurance to ONE female child in a family who loses either mother or father due to accidental death. This insurance cover is available on a 24-hour risk basis.
New India Cattle Insurance Policy:
Cattle Insurance by New India Assurance covers bullocks, bulls, heifers/calves, buffaloes and milch cows, castrated male buffaloes, etc. This policy provides comprehensive coverage in the event of the demise of the cattle due to any riots, surgical operations, fire accidents, lightning, tempest, strikes, storm, cyclone, etc. This plan comes with a group discount. The market value of the animal is fixed as the sum assured.
New India Hut Insurance Policy:
The Hut Insurance Policy is specially designed to provide cover to the dwelling huts in the rural areas. This policy covers any damage or loss caused due to lightning, storm, tempest, cyclone, flood, fire, earthquake, boiler explosion, gas explosion, riots, aircraft explosion, etc. This plan by New India Assurance covers huts whose construction has been financed by Banks, the Government institutions, or the co-operative societies.
New India Poultry Insurance:
New India Assurance Poultry Insurance offers an indemnity in the event of the demise of the poultry birds due to fire accidents, cyclone, earthquakes, terrorist activities, or any contracted diseases. The applicability of this plan restricts to layer birds, broiler birds and exotic & cross-bred hatchery or parent-stock, etc.
New India Horticulture/Plantation Insurance:
This Horticulture/ Plantation Insurance policy offers coverage for the damage to or the loss of the insured trees or fruits such as citrus, rubber, grapes, tea, palm, eucalyptus, roses, orchids, etc. This plan by New India Assurance covers damages caused due to terrorist activities, lightning, fire (including bushfire and forest fire), flood, storm and inundation, strikes or riots, etc.
Below are some other Rural Insurance plans offered by the New India Assurance Company:
- Animal Driven Cart Insurance
- Dog Insurance
- Camel Insurance
- Elephant Insurance
- Duck Insurance
- Eproduct for Laghu Bima Cattle
- Epidemic Poultry Insurance
- Eproduct for Laghu Bima Health
- Eproduct for Laghu Bima Personal Accident
- Eproduct for Laghu Bima Hut
- Gobar Gas Insurance
- Horticulture Insurance
- Group Janta Insurance
- Inland Fish Insurance
- Horse Donkey Poly Mule Insurance
- Janata Personal Accident
- Lift Irrigation
- Kisan Credit Card Yojana
- Pig Insurance
- Sheep and Goat
- Silkworm Insurance
- Farmers Package Insurance
- Floriculture Insurance
- Pedal Cycle Insurance
- Personal Gramin Insurance
- Personal Janata Insurance
- Pump Set Insurance
- Rabbit Insurance Scheme
- Raj Rajeshwari Mahila Kalyan Yojana
- Seeds Fertilizers Pesticides
- Zoo And Circus Animal Insurance Scheme
New India Marine Insurance Plans:
Marine Insurance, as the name suggests, covers all the damages or losses caused to the terminals, cargos during transport, ships, etc. The New Indian Assurance has various Marine Insurance policies to offer which include:
New India Charters Liability Insurance:
Charters Liability Insurance policy is an annual policy covering the liabilities of the Charter. This liability may happen due to the charter being an employee of the hired ship and it is a charter’s responsibility to ensure the safety of the vessel or the ship. However, the vessel or the ship must be covered under the Hull and Machinery Insurance policy of the New India Assurance to be issued a Charters Liability Policy.
New India Duty Insurance:
New India Assurance Company offers Duty Insurance only on imported goods (in India). This policy is given to the company to whom the import license has been issued. This insurance is not granted on ‘Duty’ or the ’Increased Value’ after the arrival of the carrying vessel or ship to its destination port.
New India Voyage Insurance:
New India Voyage Insurance covers the vessel for a particular voyage from one port to another port. The Voyage Insurance by New India Assurance is subject to Institute Voyage Clause. This cover begins with the inception of the voyage and is terminated when the voyage is completed.
New India Tea Crop Insurance:
The Tea Crop Insurance provides cover to the tea crops from any physical damage or loss. New India Tea Crop Insurance is only issued garden-wise. Nevertheless, if the factories don’t have any garden, the New India Assurance Company may issue policies factory-wise.
Mentioned below are some other Marine Insurance plans offered by New India Assurance:
- ALOP Insurance
- Annual Policy
- Annual TurnOver Policy
- Hull and Machinery
- Marine Builders Risk
- Marine Hull - War Risk
- Marine Ship Repairs Liability
- Offshore Energy Policy
- Open Cover Agreement
- Open Cover Certificate
- Open Policy
- Post Package Policy
- Sellers Interest Insurance
- Ship Breaking Insurance
- Specific Voyage
New India Assurance Renewal Process:
In order to continue your chosen coverage, you must renew your New India Assurance policy regularly. In the age of technological advancement, you can carry out New India insurance online renewal instantly. Instant quotes can be availed on the kind of plan you wish to buy from the official website of the New India Assurance Company. Here is the step-by-step process for New India Assurance policy renewal online:
- Visit the New India Assurance official website
- Choose the product from the listed products that you wish to renew
- Select the New India insurance renewal option
- Enter the required personal details including policy number, customer ID, etc. to continue with the online renewal process of your policy.
- Once this is done, proceed further to the payment options to confirm your New India policy renewal online.
- After you pay for your premium, you’ll get a soft copy of the confirmation of your successful policy renewal
How Can You File Claim with the New India Assurance?
Why do you buy insurance policies? Of course, to avail its benefits at the time of need by filing a New India Assurance claim. The claim process of New India Assurance is simple, swift and transparent. New India Assurance has a good reputation in terms of settling the claims. Different products of the company have different claims processes. For instance, the health insurance claim process is different from that of the motor insurance claim process. However, there are a few steps, which are common for all the products and you must follow them to file any claim with the New India Assurance:
- In order to file any claim with New India Assurance, you are required to inform the insurance provider at the earliest. For instance, if you’re registering a health insurance claim with the New India Assurance, there are two kinds of claim processes namely, Reimbursement Claim and Cashless Claim. You can choose any of these and the process for both are different to some extent.
- You can make a call on New India Assurance’s helpline number to register the claim right away. You’ll be required to fill the New India Assurance Claim form.
- Once you fill-up the New India Assurance claim form, you’ll be channeled to the further procedure of the claim process. The company may subject you to verification. Once the company settles and approves everything, you’ll be required to present the necessary documents and details related to your insurance claim. Then, you’ll get the amount of the claim depending on the sum assured.
New India Assurance Company: Premium Payment Process:
The premium payment process of the New India Assurance Company includes both online as well as offline mode.
Offline Premium Payment - New India Assurance:
Offline payment services are offered by the New India Assurance for its consumers who are not tech-savy. Different modes to be used in offline payment process are as follows:
- Drop boxes
- Payment Collection Centre
- Cash/Cheque Collection Centre
- Company Branch
- Insurance brokers/agents representing the New India Assurance Company
New India Assurance Online Payment Process:
The New India Assurance Company also provides an online payment facility for its customers. This online payments service allows you to make payment of the premiums in just simple clicks. You can make use of New India Assurance premium calculator to get an estimate of the premiums. Moreover, you can pay the premiums online. All you have to do it choose a quick payment option; enter your ID along with the quote number and pay via credit or debit card or net banking. Once you pay the premium, in no time, the insurer will issue the policy.
New India Assurance Premium Calculator:
If you’re planning to purchase any insurance plan from the New India Assurance Company and are confused about which one to select, you have to look at several factors to make a well-informed decision. Some these factors include:
- Your specific requirements namely, life cover, savings, investment, etc.
- Special advantages of holding the insurance plan i.e. the regular payouts, maturity benefits, etc.
- Your annual, quarterly, or monthly premium
As the first factor is clear for most people, you can begin your hunt for insurance plans and the information on the website of the company answers your questions that are related to the second factor. However, it is your insurance premium that can be the actual deciding factor. You can make a comparison between various policies and see which policy offers the maximum benefits and is economical for you.
How to Make Use of New India Assurance Premium Calculator?
There is no specific online premium calculator on the official website of New India Assurance. Nevertheless, you can still make use of the premium calculator on the portal of web insurance aggregators to get a rough idea about the premium to be paid against your policy.
There are some important details that you have to enter in the New India Assurance premium calculator to get an approximate premium amount. The factors determining the premium may vary from policy to policy. You may require the following details:
- Age/date of birth
- Marital Status
- Annual Income
- Number of Kids
- Term of the Policy
- Smoking Habits
- Life Cover
Once you’ve submitted the aforementioned details, you’ll receive the approximate sum that you will have to paytowards your insurance plan. If you’ve chosen to pay monthly premiums, you can switch your payment frequency to quarterly or yearly if it suits you more.
Factors Determining your New India Assurance Insurance Premium:
There are a number of factors that contribute to determining your New India Assurance insurance premium. They are discussed below:
Your insurance policy premium depends on your chosen life cover.
Here your premium goes with the saying ‘early bird catches the worm’. Basis the statistics, it is recommended that it is better to buy an insurance policy at an early age as the possibility of you having health issues tends to be less, and hence, your premium is low.
Women tend to pay a lower insurance premium than their male counterparts. The reason being women tend to see a doctor more often than males so the probability of them finding out health issues earlier and getting the medical procedure is possible in comparison to men.
New India Assurance - FAQs
Q1. Why buy New India Health Insurance Plan?
You must buy the Health Insurance policy by New India Assurance for the following reasons:
- This health insurance policy offers plans for senior citizens, which covers pre-existing ailments after a certain period of time.
- It provides a personal accident policy to pay-off the policyholder who has suffered injuries because of an accident.
Q2. Why buy New India Car Insurance Plans?
Car insurance is the smartest way to safeguard your prized possession. The reasons to buy New India Car Insurance policy are:
- The third-party insurance provides a cover against death, property damage, or any bodily injuries to the third-party.
- New India Assurance offers a comprehensive car insurance policy that covers the necessary third-party fiscal liability along with the damages the car faces.
Q3. Why am I required to fill-up a form to buy insurance?
Insurance is a contract between the policyholder and the insurance provider. The documentation is proof of the agreement. The citations incorporate the necessary data and information for a proper disbursal of the coverage mentioned in the contract.
Q4. What is Reinsurance?
Reinsurance is an agreement through which the insurance providers distribute their risks by buying insurance plans from other insurance providers to limit their losses to the original insurance company in case of accidents and higher claims. All the insurers involved in the reinsurance share the premium amount paid by the policyholder.
Q5. What is a deductible?
A deductible is an amount that the policyholder bears in all cases or instances and this sum is first subtracted from the full charged payable claims amount before the policyholder determines the coverage liability.
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