MICRO AND RURAL FAQs
What does micro insurance policy cover?
A general micro-insurance product is to cover different types of risks that people living in rural areas are exposed to. The bouquet of policies offers a wide coverage ranging from protection in case of death of livestock, tools or instruments to tractor insurance.
How are premium rates determined for rural insurance?
The premium amount differs from plan to plan. It depends on the nature of risk and the size of coverage.
What are the advantages of buying rural insurance?
There are many benefits of buying rural insurance. A few of the benefits are:
- Plans are affordable with low premium rates.
- Plans are designed keeping in mind the customized needs of rural India.
- It is useful for people involved in agriculture and associated activities.
- What is the amount for which I need to insure my commercial vehicle? How is IDV connected to the amount needed to insure vehicle?
- Are there any waiting periods when my expenses will not be settled, in case of a contingency?
- How is rating determined?
- Whom does the policy cover?
- What are the points to be kept in mind while buying the policy?