The Union Budget and Insurance Policy

In India's new government came into power in May 2014. They made multiple changes with regard to the existing laws. One of the latest changes was proposed by our new finance minister, Arun Jaitley. In the latest Union Budget, he is attempting to increase the Foreign Direct Investment (FDI) limit from 26% to 49%. This increase brings about relief in the insurance sector in particular. It allows for greater capital flow, and therefore also enables its spread into the rural areas.

With the deduction in home loan interest rates, more people are able to afford a house. However, ownership does not come without responsibility. Property too is susceptible to loss or damage. Therefore, a house insurance policy becomes the ideal go-to in such situations. It would aid in covering a majority of the expenses at the time of damage, without leading to financial distress. Another necessity in today's time is a vehicle. A motor insurance policy has been made mandatory. Bumps and scratches are an everyday experience. Without insurance, car maintenance alone would prove too expensive.

Apart from these basic needs, travelling is a growing trend among many. With the fast-paced life of today we always require a break, and travelling is the perfect solution. But what about when all our hard earned money is lost? Cancellation of flights due to storms, and loss of baggage is unfortunately not unheard of. In such events travel insurance comes in handy. It allows for a safety net in the event of an unwelcome surprise.

Another very important insurance is health insurance. Good health, today, has become a necessity. Medical and hospital bills usually run high, and it is important to have this cover in case of any unexpected illnesses. Oftentimes the lack of money may keep one from being treated for an illness. It is therefore important, for the sake of one's well being, to be aware of such potential expenses and be covered for the same.

The increase in FDI to 49% leads to a greater fraction of the population being able to avail of the benefits of insurance. It would also lead to the use of international insurance products and improved customer service. 

The Union Budget also declares life insurance policies as exempt from taxes. It therefore makes it more affordable, encouraging more people to opt for it. This emphasis on insurance policies not only allows more of the population to have a safety net, but also leads to a high amount of growth in the industry. It causes an economic and financial boost for the country.

On the whole, the latest changes in the Union Budget seem to positively affect the general insurance industry. It aims to aid the population at an individual level. Therefore it is more considerate of the population and its needs.

Health Insurance Plans Limits On A Budget

Most of the people think of taking health insurance for which we search and do research on many insurance companies and try to get in to the company which provides high standard services. Instead of searching all those plans, you can visit the blue cross blue shield health insurance plan. Once you come across the plan you will never go to other alternative. It is the company which offers insurance plans for any budget and for every need.

Health Insurance Plans by blue cross

You can buy an individual policy or the group policy from the insurance agents. You can also take the insurance policy from the online vendors. There is also a facility to purchase your policy from the direct site of the blue cross Halifax. You can decide which plan suits you according to your budget and other needs. This is by comparing various plans in the online site by seeing them side by side. Hence purchasing and finding the best insurance plan for individual or for the company will not be difficult and confusing.

The blue shield insurance plans are made to fit the needs of any one including family, group, and individual. For seniors, there are some other plans which enable them to cover other expenses including prescription medications. For formal and non formal medications, the prescription medications are covered by the blue cross blue shield health insurance plans. 

There are some other available plans and they vary in out of pocket expenses, co pays, and deductibles. Depending on your plans there are many other options. The plans may include preferred provider organization also called as point of service plan, health maintenance organization.

The website of them provides all the other information which is not covered here. There will be small fee but you can purchase the policies which may be individual or family online. If the people having severe chronic disease want to apply for health insurance, they will be denied by some companies considering them as insurable. Not all insurance companies do this. 

Some companies charge substantial premiums for the people suffering from chronic health diseases. There is a way to clear all your doubts. You can contact the customer service representatives of the blue cross blue shield health insurance get the information you want to know on their insurance plans.