Oriental Insurance Company Ltd, simply referred to as Oriental Insurance, is an Indian public sector general insurance company. It is headquartered in New Delhi and has over 1,800 branches across the country. The company was set up in 1947 in Mumbai (then Bombay) as a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd. From 1956 to 1973, it was a subsidiary of LIC India. In 2003, all shares of the Oriental Insurance company held by the General Insurance Corporation of India were transferred to the Central Government. And in early 2018, National Insurance Company Limited and United India Insurance company merged with Oriental Insurance. The company has also set up offices in Nepal, Kuwait and Dubai.
Oriental Insurance offers over 170 insurance plans and it can be challenging for you to find out the right insurance policy. In this case, you can compare different insurance plans by reading their features and benefits on the company’s website. You can also use the Oriental Insurance premium calculator to see the list of plans as per your needs.
How to Use Oriental Insurance Premium Calculator?
Oriental Insurance company has an online premium calculator on its website. At the bottom of the page, use the box ‘Get a Quote’ to know the premium for various products. You can also use the premium calculator on any insurance aggregator portal to find out the approximate amount to be paid towards any Oriental Insurance policy by entering the necessary details.
Here is a step-by-step tutorial to use Oriental Insurance premium calculator :
- Premium for Motor Insurance Policy
To know the estimated premium for motor insurance policy, you need to give certain details about the vehicle. These factors play an important role in deciding the premium amount. You need to select the type of the vehicle for which you want the insurance, the type of the policy, the date of the first registration of the vehicle, the RTO zone and the name of the city where you purchased the vehicle. Hit the ‘Get Quote’ button at the end to get the estimated premium value.
- Premium for Personal Accident Policy
In case of a personal accident policy, the sum insured is an important factor in deciding the premium. Other points to be noted are monthly income of the person who will pay the premium, and the type of risk, such as high or low. If you plan to get the insurance for your family members, you need to mention that in the space provided. You are entitled to get discounts on your premium if you plan to get the entire family insured. Hit the ‘Get Quote’ button at the end to get the estimated premium value.
- Premium for Individual Mediclaim Policy
The Oriental Insurance premium calculator for individual mediclaim policy is a simple one. The form will need details like date of your birth and the sum insured, ranging from Rs 1 lakh-10 lakh. You have to specify whether you want the policy for your spouse, dependent children or the entire family. Hit the ‘Get Quote’ button at the end to get the estimated premium value.
- Premium for Overseas Mediclaim Policy
The overseas mediclaim policy is available for Indian nationals only. The calculator needs details like the names of countries you are visiting and the duration of your stay. But if the countries happen to be the U.S. or Canada, then you need to fill in a separate section. Other points to be noted are the policy plan, the duration of the stay and the period for which you want the insurance. After filling all the details, hit the ‘Get Quote’ button at the end to get the estimated premium value.
- Premium for Happy Family Floater Policy
The Oriental Insurance premium calculator for happy family floater policy needs details like the sum insured, your personal details and the plan you want to buy. You also have to specify whether the policy will include your spouse, dependent children, father, mother, father-in-law and mother-in-law. One all the details are given, hit the ‘Get Quote’ button at the end to get an estimated premium value.
Benefits of Using Oriental Insurance Premium Calculator :
- Save Time: You can save a lot of time if you use the Oriental Insurance premium calculator instead of doing the complex calculations manually. If you follow the instructions properly, you will get a set of insurance plans best suited for you within minutes.
- Gives Youa Good Starting Point: The premium value provided by the Oriental Insurance premium calculator is just an estimate since the actual premium will be calculated based on your individual profile. However, it still gives you a good idea of the premium you will have to pay. It gives you a good starting point to select an insurance plan compared to other plans offered by the company.
- Compare Insurance Plans: When you use an insurance premium calculator, you get a set of plans with their respective (approximate) premium value. This gives you an opportunity to compare the insurance plans based on your budget right there. Since these plans are already the best suitable for you, you can directly choose the one that you think best suits you without the need for any other information.
FAQs
Q1. Oriental Insurance has withdrawn the insurance plan I bought from them. What should I do now?
Please do not panic as this is not going to have an impact on you. Insurance companies like Oriental Insurance come up with new insurance products all the time to meet the needs of their customers. They also withdraw any insurance plans that they think are not relevant to the masses anymore. However, this does not affect the benefits of the policy. You will enjoy the benefits of your insurance policy as stated in the policy document. The only difference is that after the withdrawal of the plan, customers cannot buy that policy anymore. Existing policyholders will not be impacted.
Q2. I am a 25-year–old healthy female. Should I still get a health insurance policy?
In one word, yes. And we have two reasons to support our answer. First, you are healthy today and it is a great place to start preparing against any uncertainties related to health that can arise in the future. It will give you the necessary peace of mind since you know you are covered against critical health problems. Second, being a healthy and young female, you will have to pay less premium compared to someone 5 or 10 years older to you. And the simple reason behind this difference is the risk of older people suffering from more health problems compared to younger ones. So start as early as possible.
Q3. How can I renew my Oriental Insurance policy?
Oriental Insurance policy makes it easy for you to renew your policy both online and offline. If you want to renew your insurance policy offline, you need to visit your nearest Oriental Insurance branch. It is recommended to renew your insurance policy before it expires.
However, if you want to renew your Oriental Insurance policy online, you need to follow the steps mentioned below :
- Visit the company’s official portal at https://orientalinsurance.org.in
- Click on the “Renew” tab at the top of the page
- Select the Oriental Insurance policy you want to renew
- Fill up the details,such as policy number, etc. in the form
- Select your chosen mode to pay the premium out of the options
- Credit card
- Debit card
- Net Banking
- RuPay
- IMPS
- UPI
- E-wallet
- After payment, save the payment receipt for future reference