Frequently Asked Questions

Cashless hospitalisation means you don't pay hospital bills upfront. Your insurer directly settles the bills with the hospital (if it's in the network). You just need to show your health card at the time of admission, and the insurance company handles payment directly with the hospital.

A family floater plan provides a single sum insured that is shared by all family members. For example, a ₹10L family floater covers you, spouse and children — any one member can use the full ₹10L in a year. It is more affordable than buying separate policies for each family member.

Yes, most health plans cover pre-existing diseases after a waiting period of 1 to 4 years (depending on the insurer and plan). Some plans offer reduced waiting periods. Always disclose pre-existing conditions honestly — non-disclosure can lead to claim rejection.

No-claim bonus (NCB) rewards you for not making a claim. Your sum insured increases by 10–50% (depending on the insurer) for each claim-free year, at no extra premium. This helps your cover keep up with medical inflation.

As a thumb rule, a family of 4 in a metro city should have at least ₹10–15 Lakh cover. Senior citizens need ₹5–10L individually. Given rising medical costs, we recommend adding a super top-up plan for extra coverage at low cost. Our advisors will help you choose the exact right cover.

Term insurance covers you for a specific period (10–40 years) at low premiums. If you survive the term, there's no payout (pure risk cover). Whole life / endowment plans cover your entire life and also build savings, but premiums are much higher. For pure protection, term plans are the best value.

A good rule of thumb: life cover = 15–20× your annual income. For example, if you earn ₹6L per year, you should have ₹90L to ₹1.2Cr in life cover. This ensures your family can replace your income for 15–20 years without financial stress.

Yes! Life insurance premiums qualify for deduction under Section 80C of the Income Tax Act (up to ₹1.5L per year). The death benefit received by your nominee is also completely tax-free under Section 10(10D).

For term plans, most insurers offer a 30-day grace period. If you miss payment and the policy lapses, you lose coverage. However, you can usually revive a lapsed policy within 2–5 years by paying outstanding premiums with interest. Always set up auto-debit to avoid missing premiums.

Yes, third-party motor insurance is legally mandatory under the Motor Vehicles Act. Driving without valid insurance can result in a fine of ₹2,000 for the first offence and ₹4,000 for subsequent offences, plus potential imprisonment. Comprehensive insurance is optional but strongly recommended.

Zero depreciation (zero dep) is an add-on cover that ensures you get the full claim amount without any deduction for depreciation of parts. Without zero dep, the insurer deducts depreciation on rubber, plastic and metal parts. Zero dep gives you higher claim payouts but costs 10–20% more in premium.

Yes, making a claim typically resets your NCB to zero. However, you can buy an NCB protection add-on which protects your NCB even if you make one claim during the policy year. This add-on is recommended if your vehicle has accumulated significant NCB.

A Systematic Investment Plan (SIP) allows you to invest a fixed amount in a mutual fund every month (as low as ₹500). SIPs automatically invest on a set date, averaging your purchase cost over time (rupee cost averaging). They're ideal for building long-term wealth without trying to time the market.

Mutual funds are market-linked investments and carry risk. Equity funds can be volatile in the short term but have historically given 12–18% annual returns over 10+ years. Debt funds are safer but give lower returns. The key is to match fund risk with your goals and time horizon. Our advisors help you choose the right funds.

ELSS (Equity Linked Savings Scheme) funds qualify for ₹1.5L deduction under Section 80C, saving you up to ₹46,800 in taxes annually (30% bracket). ELSS has a 3-year lock-in — the shortest among all 80C investments — and also offers potential for equity returns.

Most open-ended mutual funds can be redeemed anytime (except ELSS which has a 3-year lock-in). Proceeds are credited to your bank account within 1–3 business days. Some funds may have an exit load (penalty) if redeemed within 1 year, so check the fund's terms before investing.

Call our claims helpline at +91 8008 237 387 immediately. For cashless claims, inform us before or within 24 hours of hospitalisation. We will coordinate with the insurer and hospital on your behalf. For reimbursement claims, submit bills within 30 days of discharge. We handle all the paperwork for you.

For cashless health claims, pre-authorisation is given within 2–4 hours. For reimbursement claims, insurers must settle within 30 days of receiving all documents. Motor claims typically settle within 7–14 working days. 98% of our clients' claims are settled without issues due to our dedicated claim support team.

Don't panic. Contact us immediately. We review the rejection letter, identify the reason, and help you file a formal grievance with the insurer. If unresolved, we escalate to the Insurance Ombudsman on your behalf. We have successfully reversed many wrongly rejected claims for our clients.

Yes, ANR Finserv is fully licensed by IRDAI (Insurance Regulatory and Development Authority of India) under Registration No. ANR/2010/1234. We are also AMFI registered (ARN-123456) for mutual fund distribution. All our advisors hold valid IRDAI/AMFI certifications.

No, our insurance advisory services are completely free for you. We earn a commission from the insurance companies — just like a travel agent earns from airlines. This means our service is free, but our advice is always unbiased. Our goal is to find you the best plan, not the highest commission plan.

We work with 20+ leading insurers including LIC, HDFC Life, ICICI Lombard, HDFC Ergo, Bajaj Allianz, Star Health, Care Health, Tata AIA, Max Life, SBI General, Digit, and more. This breadth ensures we always recommend the best option for your specific needs.