Types of insurance provided by Muthoot Finance

An average person goes through different phases in his lifetime and each phase may have a different financial goal. He saves or makes investments to fulfill these financial obligations. However, there are things and situations that could occur that are beyond our control. A sudden illness, an accident, loss to property, etc are largely sudden and unexpected. However, many a time, our savings fall short of covering these financial losses. In such situations, an insurance policy can help protect you and your family, assets/property from financial risk and losses. And not just any policy, but a comprehensive insurance cover from a reliable insurance company. And who better than a top-rated insurance company like Muthoot Finance? Muthoot Insurance Brokers Pvt. Ltd is the insurance provider for Muthoot Finance. It is a 100% subsidiary company of Muthoot Finance Ltd that issues many types of insurance to help you to mitigate your financial losses due to an unforeseen event.

Types of insurance provided by Muthoot Finance

Muthoot Finance- a name that has become synonymous with trust, reliability, and stellar customer service is constantly evolving to meet customer requirements and expectations. Once known only for gold loans, it is now one of the top insurance companies in India. It offers a wide basket of innovative, cost-effective, customized insurance products and services to its valuable customers.

Muthoot Life Insurance

Life insurance is a contract between an insurer and a policy owner. A life insurance policy guarantees that the insurer pays a sum of money to named beneficiaries when the insured dies in exchange for the premiums paid by the policyholder during their lifetime.

You can buy the following main types of life insurance policies from Muthoot:

Term Insurance: It has a specific period, expires at the end of the term, and has affordable premiums. It is a pure protection plan. Some of the best term life insurance companies offer critical or terminal illness coverage.
Endowment Plans: These are ‘Protect and Save’ insurance plans. They offer you a life cover along with a lump sum amount at maturity.
Unit Linked Insurance Plans (ULIPs): They offer a life cover along with market-linked investment opportunities. They typically have a 5-year lock-in period.

Health Insurance

Muthoot is also one of the top health insurance companies. Muthoot Health insurance helps cover medical expenses related to treatment and hospitalization. The best health insurance companies cover a wide gamut of medical costs. Since the premiums are calculated based on the details furnished by you on the application, you should never hide your correct medical details.

Individual Health Insurance policy – This policy covers the medical expenses of an individual, singly. Premium is paid based on the age, past medical records, and pre-existing disease(s) of the individual only.
Family Health Insurance policy – Popularly known as the family floater health insurance policy, this policy covers the medical expenses of the entire family consisting of the individual, the spouse, and children only.
Critical Illness Insurance - In this, the health insurance company pays the policyholder a large lump sum figure, in case of being diagnosed with a life-threatening disease. The list of such illnesses is shared at the time of purchase of the policy and is restricted to the same.

Vehicle Insurance

Vehicle Insurance policy is commonly referred to as car insurance policy. Most car insurance companies cover the vehicle from risks and damages due to accidents, theft, and natural calamities.

Car Insurance: The best car insurance policies from Muthoot can be taken by individuals for their standalone vehicles or even by corporates for their fleet of vehicles. You can buy car insurance online from Muthoot.
Two-wheeler insurance policy: Muthoot offers the best two-wheeler insurance policies that cover bikes and scooters. You can also buy bike insurance online.
Commercial Vehicle Insurance: Muthoot offers the best car insurance policies for Commercial vehicles that are used for transporting passengers or cargo.

Travel Insurance

Under travel insurance, an insurance company offers protection against unforeseen losses that the insured may incur while travelling. It can cover medical expenses, lost luggage, flight cancellation, emergencies, or other losses that an individual may incur when they are travelling.

Suggested Read: Buying The Right Travel Insurance For You

Property Insurance

This is the coverage that the insurance company offers for losses and damages incurred by the insured person’s house or shop because of natural disasters or man-made incidents like theft, riots, etc. In exchange for a premium paid for a set duration, the insured person will be compensated for the incurred damages and losses.

Group Insurance Policies

Being one of the top insurance companies, Muthoot Finance, through its subsidiary Muthoot Insurance Brokers, provides comprehensive group insurance policies as well. Group Business Home Insurance, Group Term Life, Group Health Insurance, and Group Jewel Cover insurance are some of the most popular types of insurance covers for specific groups.