Health insurance

covers the whole or a part of the risk of a person

incurring : medical expenses, spreading the risk over a large number of persons.

By estimating the overall risk of health care and health system expenses over the risk
pool, an insurer can develop a routine finance structure, such as a monthly premium
or payroll tax, to provide the money to pay for the health care benefits specified in the
insurance agreement.

The benefit is administered by a central organization such as a government agency,

private business, or not-for-profit entity.

Types of Health Insurance

1. Individual Health Insurance: This policy covers the health expenses and
hospitalization expenses of individual who has taken the policy. Premium under this
policy is determined as per the age of insured.
2. Family Health Insurance Plan: Under this policy, an individual can include all
the family members against multiple diseases under a single cover. Family health
plan offers a fixed sum assured for the family members, which can be availed by all
members of the family or by any one individual in the family.
3. Senior Citizen Health insurance Plan: This policy is designed for the senior
citizens or individuals over 60 years of age offering protection from health issues
during old age.
4. Surgery and Critical Illness Insurance Plan: This plan is suitable for the insured
that requires treatment against critical illness, such as kidney failure, paralysis, cancer,
heart attack etc. As the medical expenses of these treatments are very high, the
premium applicable to these types of policies is also high.
5. Maternity Health Insurance Plan: This policy covers costs, including pre and
postnatal care, child delivery expenses of newborn babies. This policy is also covered
for the newborn up to a certain period of time as mentioned in the plan. Ambulance
costs are also covered.
6. Personal Accident Plan: This policy covers hospitalization expenses in the event
of an accident. Premium amount is depending upon the amount of cover taken.
7. Unit Linked Health Plan: These plans offer a unique combination of insurance
and savings both at the same time. This policy helps in building a corpus which can be
used to meet those expenditures which are not covered by the insurance policy.
Aviation insurance

Aviation insurance is a policy that offers property and liability coverage for aircraft. It
covers losses resulting from aviation risks that come about due to the maintenance and
use of aircraft, property damage, loss of cargo, or injury to people. It protects both its
owners and aircraft operators from unforeseen losses.
 Aviation insurance is also known as aircraft insurance.
Aviation insurance is divided into several types of insurance coverage
available.[6]
In-flight coverage
This provides coverage against damages that can happen to the aircraft while it is mid-
air (in motion). Though this is expensive, it is worth it as most accidents happen when
a plane is mid-air.
Hull all risk
This coverage is ideal for flying clubs which operate small planes, private jets
belonging to celebrities/politicians/business tycoons, aircrafts used for agricultural
praying, etc. The policy covers any physical loss/damage faced by the insured plane.
It also protects the plane against total loss and disappearance.
Hull/Spares War Risk
Protection is provided to the insured plane and its spares in case of loss or damage
resulted by anti-social activities like war, invasion, riots, hostilities, martial law,
strikes, civil commotion, malicious activities and sabotage.
Loss of License
It is a mandate for every aircraft crew member to hold a valid license. A license can
be suspended on medical grounds leading to a financial loss for the crew member.
This cover takes care of the financial loss incurred. The crew member can get the
coverage in case of permanent total disablement or temporary total disablement due to
bodily injury or illness.
Spares All Risk Insurance Policy
If any loss/damage is incurred to the spares, tools, equipment and supplies of the
insured aircraft or any damages caused to a property by the aircraft, it is covered.
Aviation Personal Accident (crew member)
This is usually granted annually and protects the insured crew member against injury,
disablement or death as a result of an aircraft accident/mishap.
 Benefits of Aviation Insurance Policy:
 In this age when all of us are hard-pressed for time, and are required to travel (for
business or for leisure) taking a flight has become an indispensable part of our lives.
Though flying comes with a huge amount of life risks, it is unavoidable. Be it
turbulent weather, terrorist activities leading to hijacks, mysterious disappearance of
flights, auto/technical failure, or a plane crash; taking a flight is never devoid of
these life threatening dangers. As they say, better safe than sorry; a comprehensive
aviation insurance policy covers you against the aforementioned dangers.
 In flight insurance provides coverage against damages that can happen to the
aircraft while it is mid-air (in motion). Though this is expensive, it is worth it as
most accidents happen when a plane is mid-air.
 You are protected from a series of natural weather turbulences and also man-made
calamities.
 You are duly compensated for any damages sustained which can happen after you
have boarded a flight.