Risk is something we just cannot avoid in life. You can be extremely careful, but that doesn't mean you won't fall sick or need hospitalisation. That is exactly why people buy insurance products — both life and non-life — that offer cover for multiple risks such as life, hospitalisation, personal accident, public liability and so on. However, the real challenge is keeping track of these policies and renewing them year after year on time. This issue leads to two possible scenarios: one, most people do not buy insurance cover; two, even if they buy, many fail to renew it on time. To address this issue non-life insurance companies have come out with the concept of 'bundling'. The known form of bundle is the ' family floater' health insurance policies. For the uninitiated, one can buy a health insurance policy for an individual to pay for the actual expenses incurred due to hospitalisation in future, subject to the limits set by the insurer. This is term
Simple! Sensible!!
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