IVA Insurance


An insurance policy is an agreement between you and your insurance provider for the coverage they will provide you as per the terms and conditions of the policy.
The concept of insurance is simple. You pay a monthly or yearly premium to insure your life, health, home, vehicle and for other purposes like travel. In return, the insurer compensates the damages or loss you incur due the insured peril.
A lot of people think insurance is an unnecessary expenditure. They feel that they can tackle all kinds of emergencies with their savings. Unfortunately, the presumption and reality are vastly different. Years of savings can vanish in a minute in situations like medical emergencies
No matter how much savings you have, an unplanned event could burn a big hole in your savings and jeopardize your financial stability. For example, if you do not have a proper medical insurance plan and you contract a critical illness, then most of your savings will be drained for treatment. If you had a medical insurance, then you do not have to worry about treatment costs as the insurance policy would come to your rescue.
Under Section 80C of the Income-tax Act, 1961, the money invested in any life insurance plan is eligible for tax deductions of up to ₹1.5 lakh per year. The proceeds of a life insurance policy on its maturity or the death of the policyholder are tax free under Section 10 (10)D of the Income-tax Act, 1961.
A Life Insurance policy is a contract between the policyholder and the insurance provider wherein the latter promises to pay a pre-decided sum assured to the policyholder’s family in the event of the policyholder’s death during the policy period. Some life insurance policies come with an investment component as well.
There are two types of Health Insurance policies. A hospitalization policy will cover your medical expenses related to hospitalization as defined in the policy. Expenses usually include in-patient hospitalization charges, ambulance, surgery, daycare procedure, hospital room bill and medical practitioners’ fees. It will also pay for specified pre- and post-hospitalization expenses.
There are other health policies that pay out a pre-decided lumpsum on diagnosis of a specified illness or when a specified surgery becomes necessary. These are called benefit policies. While a hospitalization policy pays claims based on actual expenses and is renewable for life, a benefit policy pays the applicable sum assured and coverage is terminated after the claim is paid.
IVA insurance is a leading online insurance broking site. The site helps users to buy insurance policies online. Users can buy policies at a better premium rate and policy features. The site provides a facility to compare policies in the market to buy the best.
People can buy insurance policies at any time. The site provides a platform to compare and buy several kinds of insurance policies including motor, home, family, group, health, life and travel insurance policies from multiple insurance firms. The entire buying process is quick, simple, and transparent.
IVA Insurance does not charge the customer any fees. IVA Insurance is an IRDAI Licensed Insurance Broker. We earn a standard brokerage from the insurance companies whenever a customer purchases their policy through our platform.