Making Insurance Simple
Explore the Turtlemint Blog to get answers to many questions related to Health, Life, Motor Insurance and much more!
Health
We have decoded health insurance just for you
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GST Reform 2025: No More GST on Health Insurance Premiums in India
Introduction Big news for policyholders in India — starting September 22, 2025, health insurance premiums will no longer include Goods and Services Tax (GST). Until now, customers had to pay 18% GST on top of their health insurance premium, making policies significantly more expensive. This reform, announced after the 56th GST Council Meeting, is expected…
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Revolutionising Health Insurance – Cashless Hospital Treatment Everywhere
When you choose a health insurance plan, it is often suggested that you choose an insurer that allows you the cashless treatment advantage in a wide network of hospitals. For instance, you have shortlisted two health insurance plans that look equally appealing. However, one comes with a network of 5,000 hospitals, while the other has…
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Best Health Insurance Policy in India 2024
Health insurance is a must-have product in today’s time because of the rise in the number of lifestyle diseases and expensive treatments. However, finding the right health insurance coverage is difficult when the market is flooded with so many different health insurance companies offering a wide range of health insurance plans. This article talks about…
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How Senior Citizens Can Save Tax With Medical Bills Under Section 80D?
Table of Contents Healthcare expenses during old age can put a significant burden on finances. Investing in a comprehensive health insurance plan is a must to manage the expenses of regular medical care as well as unexpected medical emergencies. The premium paid towards health insurance also helps save income tax for senior citizens under section…
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Network vs Non-network Hospitals – Key Difference Between Network and Non Network Hospitals
Table of Contents Hospitalisation often triggers worry. Separation from home, medical procedures, and uncertainties about recovery can induce anxiety in the patient and also the family members. However, choosing the right hospital can ease the treatment. A well-suited facility offers specialised care, skilled staff, and advanced resources that can help streamline your medical journey. The…
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Health Insurance Plans Covering Pre-existing Diseases (PED) from Day 1
Recent reports reveal that more than 101 million people in India suffer from diabetes1, especially people over the age of 45. About 42 million people2 have some kind of thyroid. Over 25% of people suffer from hypertension worldwide3. The list can go on. Diabetes, hypertension, and thyroid are some of the common diseases that affect…
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No Claim Bonus – Different Types of NCB in Health Insurance
The discovery of numerous diseases, high medical inflation of 14%, and unhealthy lifestyles are some of the reasons that make health insurance nothing less than a basic necessity. Beyond providing financial protection in times of illness or accidents, health insurance policies also offer other benefits and rewards as well. One such appealing benefit that you…
Life
Know all about the right life insurance cover
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Top Life Insurance Companies in India (Updated List 2024)
Table of Contents Introduction to Life Insurance Life insurance is a mutual agreement between an insurance company and a policyholder. Under this agreement, the insurer provides the nominee of the insured a death benefit or fixed sum of money in the event of the demise of the insured within the policy duration. This ensures financial…
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What is Mobile Insurance? Compare Mobile Phone Insurance – A Detailed Guide, 2024
Mobiles have become the part and parcel of the modern generation. It is no longer just a means to talk with people, mobiles today have become multifaceted which allow you to click pictures, chat through messages and even shop online. In fact, mobiles have become so important that many people have not one but two…
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Difference Between Annuity & Life Insurance
Life is full of surprises. Understanding and planning before any unforeseen events give you the benefit of financial stability. Knowing your financial requirements and retirement plans can give you an upper hand in choosing the optimal insurance scheme. Both life and annuity insurance are great long-term insurance schemes. However, they differ in their meanings, benefits,…
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Employees’ State Insurance Scheme – All you need to know about ESIS
Table of Contents What is the ESIS? What is the Employees’ State Insurance Corporation? Employees’ State Insurance Corporation Composition Eligibility for ESIS Features of ESIS How does ESIS work? What is covered under ESIS? Why is ESIS beneficial? The success of the scheme How to register for ESIS? Documents required for registering with ESIS In…
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YSR Pension Kanuka Eligibility Criteria, Benefits & Types
Table of Contents What is YSR Pension Kanuka? Y.S.Jagan Mohan Reddy, the Chief Minister of Andhra Pradesh announced YSR Kanuka Pension Scheme in June 2019. YSR Pension Scheme has been launched by the state government of Andhra Pradesh for providing financial help to vulnerable sections of society. The vulnerable sections of the society include old…
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Deferred Annuity: Meaning, Benefits, Types & How It Works
Financial planning is important in all phases of life. But planning for retirement is vital to secure social status and financial stability in your old age. A deferred annuity is one such retirement plan to secure your funds for the future. It is a retirement plan that provides your financial independence after a certain age. …
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Assignment vs Nomination in Life Insurance
Table of Content: Difference between nomination and assignment What is nomination in life insurance? Types of nominees in life insurance 1. Beneficial Nominee 2. Minor Nominee
General Insurance
Get to know about various types of general insurance
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Top 5 Financial Tips you must follow on the auspicious occasion of Diwali in 2022
The Diwali season is here and most households are fervently engaged in the Diwali cleaning procedure, a tradition that is carried out every year. While you try to shine every nook and cranny of your home, do you ever think about cleaning your investment portfolio? Unconventional – yes, irrelevant – no! Your investment portfolio also…
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What Is General Provident Fund (GPF): Know How it works & Benefits
The provident funds allow residents to save funds for retirement with monthly deposits and calculated interest. There are three provident funds, namely, the general provident fund (GPF), the public provident fund (PPF) and the employee’s provident fund (EPF). All the three funds vary in their policies, eligibility, terms and conditions. General Provident Fund or GPF…
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Types of General Insurances in India General Insurance Guide
General insurance policies are those that cover non-life risks, i.e. risks not associated with life. They cover various types of financial risks that you might suffer in unexpected contingencies. There are different types of general insurance plans available in the market to cover the different types of risks that you face. All these plans cover…
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Why an e-Insurance Account is a Must in Today’s Age?
The wave of technological development has been sweeping the nation far and wide. Fat wallets have slimmed down due to mobile wallets and e-payment gateways, physical shopping has given way to e-commerce and the world has shrunk down to your computer and mobile screens. Even when it comes to insurance, buying it has been simplified…
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e-Insurance Plans – Benefits & Process of Opening e-Insurance Account
The digital age is moving at a tremendous speed and almost everything is now available online. When it comes to your important documents too, there is an online locker, called Digi Locker, wherein you can store all your important documents. Even for your insurance policies, the Insurance Regulatory and Development Authority of India (IRDAI) introduced…
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Complete Guide on Credit Insurance – Coverage, Claims & Exclusions
Businesses and companies work on credit. The raw materials that they buy and the finished goods which are sold are sold in large quantities. Buyers seldom pay cash upfront for the goods bought from businesses. They buy the goods on credit and then repay their debt over a specified period. But what would happen if…
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Renters Insurance: Everything You Need to Know (Detailed Guide)
A home insurance policy is said to be important to protect against the financial loss suffered if the house is damaged due to any natural or man-made calamities. That is why homeowners invest in home insurance plans so that they can face financial loss if their property is damaged. But, what about tenants? Do they…
Car
Know everything about car insurance before buying
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What is Insured Declared Value (IDV) and How to USE IDV Calculator?
Table of Contents What is IDV Full Form? What is IDV in Insurance? Calculation of Insured Declared Value (IDV) Depreciation Rate of the vehicle Importance of IDV How to calculate the insured declared value? Points to remember while calculating IDV Motor insurance is a compulsory requirement to ply your vehicle on Indian roads. When it…
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What is Commercial Vehicle Insurance? Benefits, Coverage and Full Policy List
Every vehicle plying on the Indian road needs to be mandatorily insured. If you are running a business, Insurance is needed for commercial vehicles also such as passenger-carrying vehicles, goods-carrying vehicles, and miscellaneous vehicles such as Cranes, Trailers, and tractors. It is important to have comprehensive coverage for commercial vehicles as road mishaps can result…
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6 Tips On How College Kids Can Lower Their Car Insurance
As a college student, you are always looking for options to save money. If you are a kid with a car, the petrol costs must already be burning a hole in your pocket. What is disheartening is that the car insurance premium for a student is higher than that of any adult older than a…
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Everything First-Time Car Buyers Must Know About Car Insurance
Your first car always brings a sense of euphoria, it brings a sense of freedom and independence. It also means that now you are responsible to inculcate good driving practices and ensure the upkeep of your car. Among the many decisions that you need to make, one additional decision would be regarding the car insurance…
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5 Easy Ways to Increase the Cost-Effectiveness of your Car Insurance
A car has become an indispensable part of the modern-day lifestyle. It facilitates easy commute, is cost-effective and convenient. In fact, in 2021, even despite the shortage of semi-conductors car sales grew by 27% (Source: TOI) and crossed the 30 lakh units milestone, a feat repeated only three times in history so far! While the…
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5 Best Add-on Car Insurance Covers in 2024
Comprehensive car insurance plans allow all-around protection for your beloved car. These plans cover the mandatory third-party liability and also give financial assistance if your car is damaged or stolen. To add icing to the cake, comprehensive car insurance plans also offer optional add-ons so that you can further widen the coverage as per your…
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Everything You Need To Know About Electric Car Insurance
Flaunting an electric vehicle has become a new trend all over the globe. Speaking of India, they are gaining a lot of momentum in the entire market. This is because of the number of benefits it covers. Generally, electric cars are low maintenance, easy to drive, noiseless, and help you save tons considering the increasing…
Bike
Know how to protect your most prized possession
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Two-Wheeler Renewal is Not only Easy but is also the Right Thing to Do!
Two-wheelers are the most convenient modes of transport, especially in a country like India where traffic jams are the norm and the roads are not in the best shape. If you have not renewed your license on time and you are using your 2 wheeler, even for a short ride, then you are committing a…
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What is IDV in Bike Insurance & Factors Affecting your Bike Insurance IDV?
What’s Inside What is IDV in Bike Insurance? You must have been interested in learning more about IDV and how it affects insurance premiums while you were purchasing coverage for your two-wheeler. When getting two-wheeler insurance, the insured declared value (IDV), which is the maximum compensation amount provided by the insurer during the claim settlement…
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How to Re-Register a Vehicle in India?
Registration is a process of registering the vehicle in some specific person’s name. This is done at the time of purchase of the vehicle. Without a valid vehicle registration, it is illegal to ply the same in India. Once a vehicle is registered, you can officially drive the same anywhere within the geographical boundaries of…
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Complete Information on How to Transfer Two-Wheeler Ownership
Buying a second-hand bike is quite common in today’s age. A second-hand bike is more affordable and it also fulfils your conveyance needs. That is why the used vehicle market is growing as sellers sell off their existing bikes to buy newer models or to invest in a car and buyers looking for affordable options…
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What is Personal Accident cover in Bike Insurance Plans?
When you buy a bike, you need to buy a valid insurance policy on the bike as well. The Motor Vehicles Act, 1988 governs transportation laws in India and one such rule specified by the Act is the need of a valid third party insurance cover on every vehicle being used on Indian roads. So,…
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What Is Insurance all about?
Insurance is an ancient concept. The first form of insurance emerged to limit the loss of goods during inland transit by the Chinese and Babylonian traders. The concept evolved over time to become the modern business of providing protection against various risks. Now, the insurance industry is well established and still evolving with time and…
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Difference Between Comprehensive & Third-Party Insurance
Traffic rules and regulations are laid down in the Motor Vehicles Act, 1988. The Act specifies the rules for driving on Indian roads for all types of vehicles. One such rule specified by the Act is the requirement of a valid insurance policy on the vehicle. The Act states that if a vehicle is to…
Company updates
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Turtlemint wins “InsurTech Company of the year” at the NBFC & Fintech Excellence Awards 2022 by Quantic India
We have done it again! From being recognised for our tech enablement in multiple forums, Turtlemint has now bagged the award for the “InsurTech Company of the year” at the NBFC & Fintech Excellence Awards 2022 organised by Quantic India. The eminent panel of jury at the award function recognises the efforts and the outcome…
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Turtlemint wins the “Best Fintech Startup” by Entrepreneur India at the Start up Awards 2022
The latest feather in the cap for Turtlemint is the “Best Fintech Startup” award by Entrepreneur India at the Start up Awards 2022 event. It indeed is a very prestigious award for Turtlemint for being recognised for its special achievement in the Fintech startup ecosystem. Turtlemint had been launched with the intent of empowering the…
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Turtlemint wins “The Best Digitally-Enabled Enterprise” award hosted by BW Businessworld
The eminent jury comprising industry veterans and seasoned BFSI stakeholders have selected and conferred Turtlemint with “The Best Digitally-Enabled Enterprise.” Being selected by such a prestigious jury is indeed an honor for us. Turtlemint has been recognized for its contribution to the insurance ecosystem by way of adding a layer of digitization which has created…
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Turtlemint Recognized for Building “10X Culture that Employees Love!
Turtlemint, an insurtech start-up, which has pioneered the online-offline model and created the largest insurance advisor network in India, has been working towards creating a great workplace for its employees as well. The company has been adopting new-generation tech-led digital tools that help to increase the overall efficiency of the system. An important adoption of…
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Do Multiple Life Insurance Policies Make Sense?
Did you know that you can buy more than one life insurance policy? Even if you did, how many of you have actually invested in multiple insurance plans? In a country where the insurance penetration (Source: Moneycontrol) is as low as 4.2% of the GDP in FY 2021 , the concept of multiple insurance policies…
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Upskilling the Aspiring Micro-Entrepreneurs in India
While the beginning of this decade has been dominated by ramifications of the COVID-19 pandemic, its middle and end will tell a different story. India, with its aspirations of becoming a USD 5 trillion economy by 2025, is well on its way to becoming a global economic powerhouse. Propelling the country forward is its massive…
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‘Necessity is the Mother of all Invention’ – The Advisor Story
COVID-19 has been tough on all of us. It upended the way we work and live and has, in some cases, precipitated irreversible change. One of the biggest changes that it has affected is in the way we work and interact with each other. Due to the social distancing norms that were mandated in an…
