Frequently Asked Questions —
Insurance Made Simple

PolicyRaj™ is a registered trademark of Mr. Sachin Kathuria, an IRDAI-licensed individual insurance advisor with 22+ years of experience. PolicyRaj is not a company or insurer — it is Sachin Kathuria's personal advisory brand. He helps individuals, families, NRIs, and businesses find the right insurance with complete independence and no insurer bias. Advisory is offered at no charge to clients. Call 9013976999 for a personal consultation.

Yes, completely complimentary. Our advisory is offered at no charge to clients — ever. You receive expert, unbiased guidance with no hidden fees and no consultation charges. This is simply how we build relationships that last a lifetime.

We are empanelled with 20+ leading insurers including HDFC ERGO, ICICI Lombard, Bajaj Allianz, Niva Bupa, Tata AIG, HDFC Life, LIC, and many more. This gives us access to 500+ plans, so we can always find the best fit for you.

Absolutely! We help with renewals, policy reviews, coverage upgrades, and most importantly — claims support. Sachin Kathuria personally assists clients with claim disputes and follow-ups. Call 9013976999.

For most policies, you can get covered within 24–48 hours. Term life and health insurance can often be issued digitally the same day. Sachin will guide you through the fastest route based on your situation.

We primarily work via phone consultation to ensure you get personalized advice, not a cookie-cutter plan. After understanding your needs, we help you buy directly from the insurer — either online or offline. Call 9013976999 or WhatsApp at 919013976999.

IRDAI (Insurance Regulatory and Development Authority of India) is the government regulator for the insurance industry. An IRDAI-licensed advisor is a certified professional authorized to sell and advise on insurance products. Sachin Kathuria holds an active IRDAI license with 22+ years of practice.

Yes! Many people are underinsured (too little coverage) or overpaying. A free policy review by Sachin Kathuria often reveals gaps in coverage or better alternatives — saving money or adding important protection you didn't have.

An individual plan gives each person their own dedicated sum insured. A family floater provides one combined sum insured shared across all members. Floaters are economical but carry a shared coverage risk — if one member requires extensive hospitalisation, others may have reduced cover. For families where any member has a chronic or pre-existing condition, individual plans offer more dependable protection.

For a family of 4 in a metro city, minimum ₹10–15 lakh. For a nuclear family in a tier-2 city, ₹5–10 lakh is a reasonable start. However, medical inflation is 14% per year, so we always recommend a top-up or super top-up plan to extend coverage affordably. Call Sachin at 9013976999 for a personalized recommendation.

Waiting periods are time limits before you can claim for specific conditions. There are 3 types:

1. Initial waiting period — 30 days for most claims, except accidents.
2. Pre-existing disease waiting period — usually 2–4 years.
3. Specific disease waiting period — certain conditions like hernia, cataract may have 1–2 year waits.

Always check your policy's waiting periods before buying.

Yes, but only after the waiting period (usually 2–4 years depending on the insurer and plan). This is why it's critical to buy health insurance early — before you develop any conditions. Once you have a pre-existing disease, it will have a waiting period and some conditions may be permanently excluded.

TPA stands for Third Party Administrator. They are intermediaries hired by insurers to process health claims. They manage the cashless network hospitals, verify your coverage, and process reimbursement claims. When you're hospitalized, the hospital's TPA desk coordinates with your insurer on your behalf.

Yes! IRDAI allows portability — you can move to a different insurer at renewal without losing your no-claim bonus or waiting period credits. Apply at least 45 days before your renewal date. PolicyRaj can help you identify if porting makes sense for you.

Most standard health insurance plans don't include maternity in the base plan — it's usually an add-on rider or available only in premium plans. There's also a waiting period of 2–4 years for maternity coverage. If you're planning a family, buy a plan with maternity cover well in advance. Some plans like Niva Bupa ReAssure 2.0 include it as standard.

NCB rewards you for not making claims — your sum insured increases by 10–50% each claim-free year, at no extra cost. For example, if you have ₹5 lakh cover and get 50% NCB over 2 years, your effective cover becomes ₹7.5 lakh without paying extra premium. Some plans offer 'NCB Super' which grows even faster.

'Life insurance' is a broad category covering term plans, ULIPs, endowment plans, money-back plans, and more. Term insurance is the purest form — it pays a lump sum only if you die during the policy term. It has no savings component but gives maximum coverage for minimum premium. Sachin recommends term insurance as the foundation of financial planning.

The thumb rule is 10–15x your annual income. If you earn ₹8 lakh per year, aim for ₹80 lakh–₹1.2 crore cover. But also factor in: outstanding loans (home loan, car loan), children's education costs, spouse's income dependency, and inflation. Sachin can calculate the exact amount you need — call 9013976999.

Yes, but with conditions. Smokers pay 25–50% higher premiums. Diabetics (Type 2, well-controlled) can usually buy term insurance after medical tests — with a loading on premium. The key is to disclose everything honestly. Non-disclosure is the #1 reason claims get rejected.

The nominee is the person who receives the death benefit when the policyholder dies. You must designate a nominee when buying the policy. The nominee can be a spouse, child, parent, or any person you choose. You can change the nominee at any time by submitting a nominee change form to the insurer.

There's a grace period — usually 15 days for monthly plans and 30 days for annual plans. If you pay within the grace period, coverage continues normally. If you miss the grace period, the policy lapses. A lapsed policy can often be revived within 2–5 years by paying all dues plus interest and sometimes a medical re-evaluation.

Term insurance has no maturity benefit (unless you have TROP — Return of Premium variant). For TROP and other life plans, maturity proceeds are tax-free under Section 10(10D) if the premium is less than 10% of the sum assured. The death benefit is always fully tax-free.

ULIP (Unit Linked Insurance Plan) combines insurance and investment. A part of your premium buys life cover; the rest is invested in equity/debt funds. ULIPs have high charges in early years and are locked in for 5 years. Sachin's recommendation: buy term insurance separately and invest in mutual funds separately — you'll get better returns and clarity.

CSR is the percentage of death claims an insurer settles out of all claims received in a year. A 98% CSR means the insurer settled 98 out of 100 claims. HDFC Life leads with 99.3%, LIC at 98.7%. Choose insurers with 97%+ CSR. However, note that most rejections are due to non-disclosure by the policyholder, not insurer bad faith.

Third-party (TP) liability insurance is mandatory under the Motor Vehicles Act, 1988. Driving without at least TP cover can result in fines up to ₹2,000 for a first offence and ₹4,000 subsequently. Own damage cover is optional but highly recommended.

Third-party (TP) insurance only covers damage to other vehicles/property and injuries to third parties — it does not cover your own vehicle. Comprehensive insurance covers both third-party liability AND damage to your own vehicle (fire, theft, accident, natural calamities). Comprehensive is strongly recommended.

Standard motor insurance deducts depreciation on car parts at the time of claim — meaning you pay part of the repair cost. Zero depreciation (zero dep) add-on covers the full cost of parts without any depreciation deduction. It costs 15–20% extra but is well worth it for cars under 5 years old.

NCB is a discount on premium for each claim-free year. After 1 year without claims: 20% discount, 2 years: 25%, 3 years: 35%, 4 years: 45%, 5 years: 50% (maximum). NCB is linked to the driver, not the car — so you can transfer it when you buy a new car. Never make small claims; it's often worth paying out of pocket to protect your NCB.

IDV is the current market value of your vehicle — the maximum amount the insurer pays in case of total loss or theft. IDV decreases as the car ages (depreciation). Always insure for the correct IDV — under-insuring saves premium but gives you less money when you actually claim.

You need: (1) Duly filled claim form, (2) RC copy, (3) Driving license, (4) Policy copy, (5) FIR copy (for theft or accidents with third-party injury), (6) Photos of damage. For reimbursement claims, also keep original repair bills.

If your car is repaired at a network garage (partnered with your insurer), the insurer pays the garage directly — you only pay the deductible and non-covered items. Locate your insurer's network garages via their app or website before taking your vehicle.

Avoid it if possible. A small claim (say ₹5,000–₹10,000) can cause you to lose NCB worth much more over 5 years. For example, losing 5 years of NCB could mean paying ₹15,000–₹25,000 extra in future premiums. Pay minor repairs out of pocket and protect your NCB.

Health reimbursement claims: 30 days from receipt of all documents.
Cashless health claims: 4–6 hours for pre-authorization.
Life insurance death claims: 30 days (extendable to 90 days if investigation needed).
Motor claims: 7–14 days for survey, repair, and payment.

Delays beyond these timescales can be escalated.

Health claims: Within 30 days of discharge for reimbursement; inform within 24 hours for emergencies (cashless).
Life claims: No strict limit, but sooner is better.
Motor claims: Inform insurer within 24–48 hours of accident.
Travel claims: Within 30 days of returning from trip.

Missing these limits can result in claim rejection — always inform promptly.

Yes, if: (1) The claim falls under policy exclusions, (2) You didn't disclose pre-existing conditions at time of buying, (3) The policy has lapsed, (4) The waiting period hasn't passed. This is why full disclosure and understanding exclusions are critical. Call PolicyRaj for help if a claim is rejected — Sachin can assist with escalations and Ombudsman complaints.

The Insurance Ombudsman is a free, independent dispute resolution body for insurance complaints. Approach them if: your claim is unfairly rejected, the insurer delays settlement beyond timelines, or partial payment is made without explanation. File online at cioins.co.in or visit your nearest Ombudsman office. PolicyRaj can help you prepare the complaint.

Immediately: (1) File FIR at the nearest police station, (2) Inform your insurer within 24 hours, (3) Submit all keys and RC copy. After 90 days of the FIR (non-traceable certificate), the insurer settles the IDV value. Never delay the FIR — it's the most critical step.

Pre-authorization (pre-auth) is the approval you need from your insurer/TPA before a planned hospitalization can be processed as cashless. For planned surgeries, apply 3–5 days in advance. For emergencies, the hospital contacts TPA within hours. The insurer/TPA approves the type of room and treatment based on your policy. Always carry your health card.

Step 1: Request written rejection reason from the insurer.
Step 2: Check if the rejection reason is valid per your policy.
Step 3: File a formal grievance with the insurer (they must respond in 15 days).
Step 4: If still unresolved, file with IRDAI's IGMS portal (igms.irda.gov.in).
Step 5: Approach Insurance Ombudsman.

Call Sachin at 9013976999 — he helps clients through this process at no charge.

Yes! Health insurance premiums qualify for deduction under Section 80D: ₹25,000/year for self & family, plus ₹25,000 for parents (₹50,000 if parents are senior citizens). Life insurance premiums qualify under Section 80C (up to ₹1.5 lakh). These can save you ₹15,000–₹46,800 in taxes annually depending on your tax bracket.