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Insurance
WHO IS AN INSURANCE BROKER ?
An independent broker represents you and does business with many insurance companies compared to an agent who represents only one insurer. An independent broker is able to offer a wide range of services and products from many insurance companies to make sure your insurance needs are met precisely at the most competitive price. We provide you with the peace of mind of knowing that your broker is acting on your behalf.
 
CAN IIT INSURANCE DEAL WITH MY EXISTING INSURER?
You may be perfectly happy with your existing insurer at present. You can appoint IIT Insurance as your broker and still remain with the same insurer. Each year, we will check to ensure that it is still the best cover for you, and if appropriate, offer you alternative products.
It's still your decision, but we are giving you additional choices and expert advice, so you can't lose.
DO I HAVE TO PAY EXTRA PREMIUM TO AVAIL IIT INSURANCE SERVICES
The amount of premium is determined by the insurance companies, the client will be paying that prefixed amount only. Our brokerage is paid by the insurance companies so our clients don’t have to pay for our services. The cheque that the client issues will be in favor of the insurance companies, as per IRDA rule a client cannot give the cheque of premium in the name of the broking firm.
 
FAQ'S on

Travel Insurence | Motor Insurence | Health Insurence | General Insurence
 
 
What is need of Travel Insurance?
One usually travels abroad for various reasons like pleasure trip, a business trip, study, etc. Every traveling person is exposed to a various kinds of risk like hospitalization, accidental events, personal liability, loss of baggage, etc. A Single trip Overseas Travel Policy protects you from all such kind of risks. For frequent travelers an annual travel policy can be purchased.
 
What are various covers in Travel Insurance?
A Travel Insurance plan covers for loss of passport, checked baggage loss, checked baggage delay, medical emergency, accidental death and dismemberment, personal liability, etc.
 
What is Deductible/Excess?
Deductible/Excess is a small amount, which the client will have to bear at the time of claim. Thereafter the balance amount will be reimbursed by the insurance company.
 
What do you mean by Service Provider/Third Party Administrator (TPA)?
A Third Party Administrator renders specialized services such as emergency assistance and cashless hospitalization for the insurance company. All insurance claims are settled by TPA. Their contact details are provided in the policy document.
 
How do I lodge claim when overseas?
You will find a toll-free number on your travel policy whom you can contact in case of any emergency. The TPA will provide necessary guidance to lodge a claim and get cashless facility.
 
Can I pay premium on behalf of my parents/spouse/ children?
Yes.
 
Can I extend my Travel Insurance policy whilst overseas?
Yes, provided you have not preferred any claim, subject to confirmation of good health and by paying additional premium before expiry of policy.
 
What do you mean by sub-limits?
Sub-limits means irrespective of plan which you have opted, compensation will be payable upto the sub-limit specified in the policy only.
 
What is the meaning of pre-existing diseases?
Pre-existing diseases are those diseases that exist at the time of inception of the policy. Pre-existing conditions are health conditions, which already exist or are being treated.
 
Does the Travel policy cover pre-existing diseases?
Normally, pre-existing diseases are not covered in Travel policies.
 
What are documents required for filing claim?
The original bills and vouchers must be submitted along with all respective claims. In case of sickness, bills / prescriptions / vouchers / reports / discharge summary must be in the name of the insured person. In case of loss of baggage, a property irregularity report or other report usually issued by the carriers to be presented as evidence of loss. In case of personal liability, proof of judicial decision rendered by a court of law would be required. In case of personal accident, disability certificates to be submitted.
 
In how many days will I get my claim settled?
Once you submit all the necessary claim documents, normally the claim will be settled within 30 days.
 
What do you mean by cashless facility? Does policy bought online are having cashless claim facility?
In cashless facility, the client need not pay any amount to the hospital from his own pocket while taking the treatment. All the expenses will be settled by the insurance company to the hospital directly. This facility is available to online buyers also. Only excess expenses will be borne by the insured.
 
Can I file claim after returning to India?
Yes, you can file a claim after returning to India, but intimation has to be given on the toll free number mentioned in the policy while overseas.
 
Is it necessary to be in India before buying policy?
Yes, it is necessary to be in India before you buy your Travel policy.
 
I am 70 years old, can I buy Travel Insurance?
Yes, you can buy Travel Insurance. Some companies are offering policies without a medical checkup. Some companies insist on medical checkup. For persons above 70 years, you will get restricted cover.
 
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