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Health Insurance

A medical insurance policy, also called as health insurance, covers medical expenses for illnesses or injuries. It reimburses your bills or pays the medical care provider directly on your behalf. A comprehensive medical insurance covers the cost of hospitalisation, day-care procedures, medical care at home (domiciliary hospitalisation), ambulance charges, amongst others.

A health insurance plan helps you stay covered against various diseases. Additionally, it helps you boost tax savings. Under section 80D of the Income Tax Act, 1961, you can claim tax benefits against your health insurance premium.

Anywhere Cashless

Have the freedom to choose any hospital for your & your family’s treatment without worrying about your finances. Avail cashless hospitalisation benefits not just at network hospitals but at any hospital near you. You no longer have to find a network hospital or wait for the claim refunds. With cashless hospitalisation benefits at any hospital, you can fast-track your and your family’s recovery without any added stress from hospital bills.

Benefits of a Health Insurance Policy: A comprehensive health insurance plan in India comes with many advantages.

a. Covers complete OPD requirements: Health Insurance Policies are tailored to cover the expenses of all your minor and severe health concerns, including teleconsultation with the doctor, pharmacy, and routine diagnostics on a cashless basis.

b. Covers Pre and Post Hospitalization: One of the key benefits of a health insurance policy is that it covers your medical expenses incurred just before and after hospitalization.

c. Covers Pre-existing Diseases: A health plan covers you for a pre-existing disease once you have completed the waiting period mentioned in the policy certificate.

d. Provides cashless treatment: At the time of hospitalisation, you don’t have to worry about arranging cash to pay your hospital bill. Your health insurance company will settle it directly with the hospital if it is in their network.

e. Tax Benefit: You can claim a tax deduction on health insurance insurance premium under section 80D of the Income Tax Act, 1961.

f. Provides additional sum insured: Keeping healthy has its own benefits. You can enjoy additional sum insured for every claim-free year as per the policy certificate of your health

Term Insurance
Term insurance is a type of life insurance that provides coverage for a specific period of time or years, i.e., a term. This type of life insurance provides a financial benefit to the nominee in case of the unfortunate demise of the insured during the policy term. Fixed premiums can be paid at once or at regular intervals for the entire policy term or for a limited period. Premium amount varies basis the type of the premium payment method opted by the buyer.

Anyone with financial dependents should buy a Term Insurance Policy. This includes married couples, parents, business people and self-employed, SIP investors, young professionals with dependent parents, and in some cases, even retirees.

Parents: Parents are generally the sole source of financial support for their children. The needs of children extend from school fees and living expenses to hefty university fees, later on in life. An unfortunate event with a parent can jeopardise their future and deprive children of life’s opportunities. Parents must ensure that this scenario does not come to pass, by purchasing a term insurance policy. This policy will pay out a lump sum and/or income to satisfy their children’s expenses, in the event of any mishap of the parent(s).

Newly-married couple: Roses, chocolates and movie tickets are great, but here’s a truly long-lasting gift for your spouse – term insurance. This gift will give your spouse more than momentary joy, and it will secure their future. Term Insurance assures the spouse of financial support in case of a mishap with the insured person and should be purchased as soon as possible by married couples.

Working Women: The women of today are on an equal footing with men, whether it be managing their finances or providing for their family. Today, a family is as dependent on the woman’s income as it is on the men. This dependency brings with it the need to financially secure your loved ones in case something happens to you. A Term Insurance plan assures that your parents/spouse/children are financially secured even in your absence.

Young Professionals: Young professionals are just starting their careers. Many of them are not yet married and have no financial dependents. However, this is likely to change in the future as they get married or support their parents/relatives. Such individuals should buy term insurance now rather than wait. This is because once a policy is purchased, the premiums stay the same throughout an individual’s life. On the other hand, waiting to buy term insurance in future can force customers to pay higher premiums with increase in age.

Self Employed: As a self-employed person, you face many challenges. Unlike salaried individuals, you do not earn a fixed monthly income; you have an uneven source of income that depends on the ups and downs of the market. Plus, you may have also taken a business or personal loan from creditors, banks, or even your family and friends. Hence, buying a term insurance plan to secure your family becomes even more important for you.

Basic Term Plan: he basic term plan comes with a life cover that is paid in the form of a lump sum in case of an unfortunate event with the policyholder during the policy term. There is no maturity benefit in this plan.

Term Insurance with Critical Illness cover: In addition to life cover, this term plan comes with a critical illness cover that is paid out in case the policyholder is diagnosed with any of the 34 specified critical illnesses like cancer, heart attack, or any other critical illness.

Term Insurance with Accidental Death Cover: A term plan that gives additional cover in case of any mishap due to an accident.
Term Insurance with Limited Pay: A term plan that lets you get done with all your premium payments in a few years while the plan benefits continue for the entire policy term.

All in One Term plan: All in One is a term plan that offers all benefits under one plan itself. High life cover, 34 critical illnesses cover and accidental cover – complete protection for you and your loved ones.
Term plan with Return on Premium: A term insurance with return of premium provides a life cover and returns the premiums paid during the tenure of the policy. Upon surviving the policy term, you get a survival benefit that is the sum total of all your premiums.

“My Rupee Mantra” s Role
Our experts are associated with different General/Health/Life Insurance Companies. They properly assess the profile of clients, their existing and future obligations, their financial strengths, health conditions, family requirements. The analyse and suggest the best term policy from the insurance companies for them at a reasonable premium to meet their aspirations. With right term insurance policy in place from “My Rupee Mantra’s team the clients can enjoy a stress-free and happy life.


My Rupee Mantra is one of the leading Financial Consultancy The Company’s promoter has more than 40 years of experience in the field of Retail Banking, MSME Advances/ Loans and management of stressed assets.