National Insurance Company Limited is the oldest non-life insurance company in India. National Insurance Company is one of India’s four general insurance companies PSU. National Insurance is the first general insurance company to offer customized general insurance plans and is well known for its customer-focused services.

To support Swadeshi’s movement and Swaraj’s national aspirations, the National Insurance Company (NIC) was founded on December 5, 1906, in Calcutta and was a subsidiary of the General Insurance Corporation of India. In 1972, the NIC was nationalized and is now fully owned by the Government of India. Even after 111 years of founding, NIC is considered a pioneer in non-life insurance.


National Insurance Company Limited

Operates in All over India and Nepal
Industry Insurance, Financial services
Products Insurance
Headquarter Kolkata, West Bengal, India
Establish Date5th December, 1906
Company type Public sector (Nationalization in 1972)
Company Name National Insurance Company Limited

National Insurance Stats

  • NIC’s mission is to provide customers with world-class products and services. NIC has 14,902 qualified employees and offices throughout India. The National Insurance Company, the second-largest general insurance company, also has offices in Nepal.
  • In 2015, the maximum market share of auto insurance in India was that of the National Insurance Company.
  • The National Insurance Company receives a B ++ rating from A.M., which at best means good financial strength and is also rated as a credit rating of the issuer “bbb +”

Claims Ratio for Financial Year 2018-19: 103.19%

National Insurance Limited Company Offers

  • The National Insurance Company offers various types of general insurance to meet the demand of its clients.
  • To meet the growing demand for insurance products, NIC offers various types of non-life insurance products, such as individual and commercial needs. Each insurance product has variants to meet the different needs of different customers.

National Insurance Products and Services

  • Commercial Insurance
  • Rural Insurance
  • Personal Accident Insurance
  • Car Insurance
  • Two Wheeler Insurance
  • Industrial Insurance
  • Health Insurance

Health Insurance

NIC offers many health insurance policies to meet different customer needs. Health care plans aim to minimize the cost of ongoing medical expenses.

The cost of medical treatment can go far beyond your savings, but with good health insurance, you can stay covered.

Also Read: Top 5 Best Health Insurance In India 2019

Health Insurance Plans by National Insurance Company

1.National Parivar Mediclaim:

  • The Parivar Mediclaim National Policy is an ideal family health program offered by the National Health Insurance.
  • The plan offers the opportunity to insure family members – you can insure yourself, your spouse, your dependent children (even your newborn) and your parents with a single policy for a sum insured.
  • You can opt for a sum insured of 1 to 10 lakh. You can also opt for additional coverage by paying an additional premium. You receive a 5% discount on the basic premium for each year without claim.
  • Under this plan, you will also receive maternity, hospital and ambulance fees. In addition, you can opt for an optional benefit for serious illnesses.

2.National Parivar Mediclaim Plus:

  • Parivar Mediclaim Policy Plus is a comprehensive family health program.
  • There are 3 variants in this plan: Plan A, Plan B, and Plan C.
  • You can opt for this plan to insure your family members – you can insure yourself, your spouse, your dependent children (even the newborn). Your parents under a single policy with a sum insured. You can opt for health insurance of up to 50 lakh.
  • Other benefits: maternity protection, ambulance fees, hospital care, costs for the treatment of infertility.
  • These plans provide good health incentives every 2 years, regardless of the requirements. You can also opt for additional coverage by paying an additional premium.
  • Every year without a claim you will receive a 5% discount on the basic insurance premium.

3.National Mediclaim Plus Policy:

  • Mediclaim Plus National Policy is a comprehensive coverage plan that helps cover medical expenses.
  • There are 3 variants in this plan: Plan A, Plan B, and Plan C.
  • You can opt for this plan to insure your family members – you can insure yourself, your spouse, your dependent children (even the newborn). Your parents/parents’ laws under a single policy with a sum insured. You can opt for health insurance of up to 50 lakh.
  • Further benefits: maternity leave, ambulance fees, hospital care. These plans provide good health incentives every 2 years, regardless of the requirements. You can also opt for additional coverage by paying an additional premium.
  • Every year without a claim you will receive a 5% discount on the basic insurance premium. And every 2 years you get a doctor’s visit, regardless of your claim.
  • All versions of National Mediclaim Plus offer the opportunity to seek a second opinion from the best medical centers in the world if the insured person is diagnosed with a serious illness.

4.Parivar Mediclaim:

  • National Insurance offers the Parivar Mediclaim policy, which protects policyholders and their families. It covers the treatment costs in hospitals for illness/injury/ accident. This is a family pension in which the entire family, including the individual, his / her spouse and two dependent children (aged from 3 months to 25 years) are covered by a single policy with one insurance.

Commercial Insurance

National Insurance also offers commercial insurance products that meet the growing demand for loss and damage coverage. NIC offers a variety of plans such as standard fire and special perils, dealer insurance, marine insurance, and credit insurance.

Commercial Insurance Plans:

  1. Standard fire and special dangers:
  • This policy covers all movable or immovable property (with the exception of land costs) in different locations against the risks mentioned in the policy. However, the coverage of the contract can be extended by an additional premium, and some risks can be eliminated by reducing the premium rate.
  • NIC also offers specific types of inventory (declaration and float), buildings, facilities, and machinery. In addition, long-term policies are available.

2. Shopkeepers insurance:

  • This policy covers the building, contents, money, bicycle, glass, signs, luggage, personal accidents, trustedness, civil liability and interruptions of use.
  • This policy is aimed at shopkeepers, shopping malls and commercial complexes, shops or showrooms, as well as resellers whose insurance cover does not exceed Rs. 2 billion.

3. Credit insurance:

  • Cover your commercial buildings with credit insurance provided by the National Insurance Company (NIC). It is a comprehensive protection plan for the company’s homes.
  • Credit insurance is really a financial risk management plan that improves the debt management process.

4. Marine Insurance – Marine Cargo Special Declarations Policy:

  • This is an open 12-month policy with insured coverage for policyholders with an estimated annual turnover of 2 crores or more.

5. Marine insurance – Open cover:

  • Open Coverage is essentially a contract and not a policy that is completed for 12 months and ensures all supplies or deliveries of the insured.

6. Marine insurance – service insurance:

  • This is not a valued policy. This policy covers the rights actually paid in the port or the sum insured, whichever is lower.

7. Marine insurance – Marine Cargo STOP:

  • This policy covers export sales, imports, transfers, etc. during an exercise.

Rural Insurance

National Insurance provides microinsurance plans to ensure the lower-income class. NIC offers health coverage and a personal accident.

Rural Insurance Plans

  1. Gramin Suswasthya microinsurance policy:
  • It is a family floater health insurance that covers the hospital costs of the entire insured family. In addition, it offers the insured and his spouse personal accident insurance.
  • It covers insured persons and spouses in case of inpatient hospital costs, personal accidents and accidental OPD costs for patients in the open air. Any Indian aged 3 months to 60 years can choose this plan.

2. Gramin Suraksha Bima Directive

  • The National Insurance Company offers a microinsurance plan covering three areas for lower-income individuals.
  • Section II covering the insurance area and insurance area of ​​the insured territory.
  • Any Indian aged 3 months to 60 years can choose this plan.

Personal Accident Insurance

Individual Accident Insurance

  • The insured person is insured against accidental death and permanent disability.
  • The personal accident insurance grants the beneficiary a death benefit in case of the accidental death of the insured. Full Disability (PTD) due to an accident.
  • You can also opt for an additional accidental hospitalization and a daily allowance for accidental hospitalization. There is also no health check-up required.
  • Other personal insurance plans of the National Insurance Limited Company:
  1. Janta Personal Accident Policy:
  2. Household insurance:

Janta accident insurance

  • Janta’s accident insurance covers the insured person in case of permanent total disability, permanent partial disability, and death. Admission criteria: It covers all years from 70 to 70 years, regardless of gender, occupation.
  • Coverage: One person can receive coverage of Rs. 25,000 / year by paying a premium of Rs. 15. The maximum coverage can be Rs.1.00.000 / year if you pay a premium of Rs.60.
  • In addition, you can take out long-term insurance covering one person up to 5 years.

National Household Insurance

  • This is a comprehensive insurance policy that allows homeowners to have a shield against house construction and household contents.
  • Cover your home against fire and related hazards, break-ins, burglaries, etc. In addition, you can also cover the structure of your building (house) with additional fire and special risk policy covering your building structure.

Also Read: What Is Personal Accident Insurance Concept

Car Insurance

The National Insurance Company offers car insurance for your car. NIC’s car insurance plans are easy to use, so you do not have to dig a hole in your pocket in an unfortunate accident.

Car insurance plans of the National Insurance Company:

Third-Party Liability:

  • The National Automobile Insurance Policy financially protects you against the financial liability that results from an injury to the victim by the insured vehicle. The car insurance covers you even with damage to the property of third parties.

Comprehensive insurance:

  • Car insurance offers financial protection against damage to the vehicle caused by natural or man-made accidents. Your car is insured against fire, explosion, storm, theft, etc.
  • Thanks to a global package policy, you are financially protected against unknown natural or artificial risks that could damage your car. With comprehensive insurance, you also get liability insurance. This also covers the liability insurance.

Motor Insurance Plans:

  • NIC car insurance companies also offer accident insurance for the driver. There are optional supplementary insurance policies that can be added to your car insurance, which increases the insurance coverage of the insurance plan.

Also Read: Top 5 Best Car Insurance In India 2019

Two Wheeler Insurance

The National Insurance Company offers motorcycle/two-wheeler insurance covering the loss and damage of the insured vehicle.

Two Wheeler Insurance Plans

NIC offers two types of insurance policies for two wheels:

Third-Party Liability policy:

  • Insurance against third parties covers all damage suffered by the third party by the insured vehicle. It covers personal injury and property damage caused to third parties by the insured two-wheeler.

Fully comprehensive insurance on two-wheelers:

  • It’s a complete set for your two wheels. The policy covers the cost of damage to your vehicle due to a natural or man-made hazard.
  • Full two-wheeler insurance also includes liability insurance. In this way, you are insured against the financial loss of third parties or the personal injury caused by the insured motorcycle of the victim after an accident.
  • Two-wheeler insurance also provides compulsory accident insurance for the driver.

Also Read: Top Best Two-wheeler Insurance Companies In India

National Industrial Insurance Policy

The National Insurance Company (NIC) provides industrial insurance plans covering various industrial risks related to the construction of a plant, machine, contractor, factory and machine, electronic equipment.

Industrial insurance plans

Erection all risk:

  • NIC’s Comprehensive Insurance offers insurance against industrial projects involving erections and similar erections.

Machinery insurance:

  • NIC offers the protection of machinery and equipment against the backdrop of rotating machinery and equipment.

Insurance for electronic devices:

  • NIC offers an electronic equipment risk coverage plan under the Electronic Equipment Insurance Plan. However, the risk is against conditions that are not affected by minor changes in environmental conditions.

Other industrial insurance:

  • Contractor All risks
  • Contractor Plant and Machinery

Premium Payment Process of NIC

Online payment via NIC

  • You can buy National Insurance Online and pay the premium with debit cards, credit cards, gold net banking and so on.

Offline payment via NIC

  • You can pay the NIC directly at one of the nearest branches. The National Insurance Company also offers payments to its customers.
  1. Drop boxes
  2. You can pay in cash or by check
  3. Pay premiums with National Insurance agents and brokers

National Insurance Limited Company- FAQ

Que.1 Is the National Insurance Company a state-owned company?

Ans: National insurance company. National Insurance Company Limited (NICL) is a public general insurance company in India. The company is “Trusted Since 1906”. The Calcutta-based company was founded in 1906 and nationalized in 1972.

Que.2 Can I extend the national insurance online?

Ans: Online renewal process at the National Insurance Company
You can now extend your non-life insurance – car, bike, health online. An online extension of an insurance contract is the simplest way of extending it. It is advisable to extend the validity of your insurance.

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