1. How is general insurance different from Life Insurance?
General Insurance is varied. It can be taken health, vehicle, home, and more. The sum
is assured under the contract, where you will be paid for the losses that are covered
under the general insurance. But life insurance is a sum paid only during the death of a
person or when the premium amount is matured.
2. Can we take the loan against the general insurance policy?
Based on the policy taken, Service Adda can help in processing the loans. However,
usually, the loan amount is determined by the 80 or 90% surrender value. Basically, a
value that you obtain when you voluntarily terminate the insurance.
3. What are the determinant factors for the approval of general insurance?
The factors that cover general insurance is not specific. Based on the policy chosen and
the things that you want to cover under the policy, these factors will be different.
4. What are the coverage aspects of general insurance?
General insurance is liable for financial losses. Usually, they cover the contact that
compensates for all that you have lost. However, the limitation comes to life or death.
5. Does general insurance have a fixed tenure?
No! There is no fixed tenure like life insurance. However, there is a contract period for
insurance to be covered and claimed.
6. Why is Life Insurance important to me?
Life Insurance is a smart investment, especially when you have a dependent family.
They offer more purposes, especially to support the family with financial benefits after
the death of the policyholder. Usually, the amount of maturity will be 8 to 10 times higher
than your annual salary.
7. What are the types of Life Insurance does Service Adda has?
Service Adda offers multiple benefits with Life Insurance policies. We mainly have the
following Life insurance options available
Whole Life insurance
Unit Linked Insurance
8. When can you expect the claim for Life Insurance policy?
In the event of the death of the policyholder, the claim will be guaranteed to the
beneficiaries. However, there is a lot of flexibility with life insurance. You can choose to
withdraw the matured amount in case of emergency. And a part of the maturity amount
is given during the survival only.
9. Do you get interested in Life insurance?
When you choose the premium payments, the cash value for the insurance policy will be
divided. One portion will be allotted for the death benefit policies. The other premium
pays on the policy will help you earn more interest.
10. How much does the life insurance cost?
The cost of life insurance will be different from one another. Based on the plan chosen,
you may have to pay the premium. The age and income play an important role when it
comes to the type of insurance.
11. What does Service Adda Property Insurance cover?
At Service Adda, we help in the property insurance coverage for all the damages and
risks caused by the unnatural occurrences. This will include theft, manmade damages,
natural calamities, fire, and more.
12. How do I claim the policy amount for the damaged households?
Usually, when you report with the home damage, the experts from Service Adda will be
inspecting the home. Based on the evaluation done, the amount for the repairs will be
determined. Initially, the advance is made, and later the full amount can be claimed.
13. Why is home insurance important?
The purchase of a home is the most significant occurrence in one’s life. But due to
various reasons, the home may happen to unavoidable face damages. Hence the
insurance will help you cover the expense during the hard times.
14. Is commercial space part of property Insurance? If so, what is the document
Yes! At Service Adda, we also make coverage for the commercial spaces. The property
bought or being rented can be included in the policy. Hence if there are any damages to
the place, then we will be assuring a certain amount against the damage made.
15. How do we claim for the insurance due to natural calamities?
Service Adda has premium concern over the damages for the property due to the natural
disaster. You will be asked to submit the FIR copy of the occurrence followed in which
the inspection will be conducted. We ensure that the policyholder gets maximum
benefits against the insurance taken.
1. What is third-party insurance?
To put it simply, in third party insurance, the liability is against a different insurer. You will
be considered as the first party, the insurer from whom you can make the claims will be
considered as the second party. While the claim of the insurance made by a different
person (generally who is the reason for damage) will be the third party.
2. If I plan to buy a new vehicle, can I transfer my already existing policy to the new
With the Service Adda Insurance solution, it is always easy to transfer the insurance
policy from one vehicle to another. However, you will be asked to submit the application
before the substitute vehicle, which is newly purchased.
3. What documents are mandatory for commercial vehicle insurance?
At Service Adda, we evaluate the vehicle before the policy is assured. You will be asked
to submit the following
- Service Adda application form for Commercial vehicle insurance
- RC copy but original will be asked during the process
- Driving license of the person
- Pollution Certificate
4. In case of an accident, what will be the process for the claim?
- The process at Service Adda is very simple. If you are already our insurance
policyholder, then here are the following steps to be followed.
- Insurance claim form to be filled
- License copy of the person who was driving during the accident
- FIR copy must be submitted
- In case Third party, then insurance details for the damage caused
5. What coverage assurances are guaranteed by Service Adda?
We at Service Adda assure vehicle insurance at different levels
- Bodily injured liability
- Covers the claim of the people who got injured in an accident
- Property damage liability – A damage occurrence for the third party primarily or any
- Medical payments – The policy covers the medical expense for the passengers
- Cover losses due to collision
- Damage except for collision
4. Why is it necessary to have school vehicle insurance?
School vehicle insurance is important as they involve the lives of children and the staff
who are traveling. Also, the damage can affect the organization financially, and it will
take a longer time to recover. Hence Service Adda School Vehicle insurance can be
5. What are the school goods supplies available at Service Adda?
At Service Adda, we offer sports goods and supplies to the schools. We have a wide
variety of sports products, athlete goods and also the gym equipment. Depending on the
number of students, we certainly offer the products to the schools. We also help in
printing the jerseys for the students.
6. Can I take a loan for the sports goods for my school?
Service Adda is one of the very few financial services that offer loans and installments
for the sports goods purchased. We thoroughly understand the needs of the school;
hence the payment can be processed in small installments.
7. Is patent important for my products?
The patent gives new hope for innovation by an individual or company. For the standard
method or process or even the actual product, you can apply for the patent, and the
market will be liable in case if they use the same.
8. How can Service Adda help my patent registration?
Service Adda helps in patent registration. We have an end to end service starting from
documentation until they are registered. Our expert teams conduct various reviews to
ensure the patent is confirmed for your product or the process.
9. How long does it normally take to get the patent for my products?
Usually, the patent is published only after 18 months in India. However, the process
request can be made within 1 month at Service Adda. We always do regular follow-ups,
reviews, offer updates, and push the process faster.
Financial Advisor and Franchise
10. Why should I choose Insurance Agent from Service Adda?
Our Insurance agents usually have a friendly approach to the customers. More than an
agent, we are a mentor who can help you choose the right policy at the right time. Our
agents also help in customizing the policies depending on the needs and requirements.
11. I am highly uncertain about financial investments and decisions. How can Service
Don’t worry! Service Adda helps in making the financial decision right from scratch.
Maybe you are new to insurance policies or newly earning, our financial advisors can
help you put you in the right place. You will be happy with the important smart decisions
that you have taken in your life.
12. What are the qualifications to become a financial advisor at Service Adda?
If you wanted to become a financial advisor at Service Adda, we don’t have any complex
process. You may have a basic college education and at least an idea of statistics,
accounts, and finance. However, been if not, we can help you train if you have an
13. Can I start Service Adda Franchise in my own city?
Yes! Absolutely. Currently, Service Adda is also expanding India wide, and we are
looking for financial enthusiasts and experts. If you are interested in creating a financial
solution for the city or understand that financial advisory is much needed at your place,
then you can get in touch with us for starting Service Adda in your own city.