Protect Your Future with payment protection insurance Plans in India



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Payment Protection Insurance

Payment Protection Insurance

What is Payment Protection Insurance?

Payment protection insurance (PPI) is insurance that will pay out a sum of money to help you cover your monthly repayments on mortgages, loans, credit/store cards or catalogue payments if you are unable to work. This may be as a result of illness, accident, death or unemployment and will be covered on your policy.

Do you pay PPI on life insurance?

This is called Payment Protection Insurance or PPI. PPI can cover your loan repayments if you have to stop work because of illness, an accident, you become disabled or you lose your job. Most policies also include a life benefit which will pay off the outstanding balance on a loan or card if you die.

What is a payment protection plan?

DEFINITION of 'Payment Protection Plan' An optional service offered by some credit card companies and lenders that lets a customer stop making minimum monthly payments on a loan or credit card balance during a period of involuntary unemployment or disability or cancels the balance owed if the borrower passes away.

Can I claim back my mortgage payment protection insurance?

Home cover: Payment protection insurance on a mortgage can be a valuable safety net, but if it would not have paid out, or you were not given the correct information, you may have been mis-sold it. It could protect your mortgage repayments if you are involved in an accident, suffer sickness or become unemployed

Why has PPI been mis sold?

How were the banks mis-selling PPI? Payment Protection Insurance is designed to cover loan or credit card payments if you cannot work, for example, if you become ill or lose your job. Banks and other lenders sold PPI to their customers without fully explaining what it covered.

Insurance Plans by Category

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Life Insurance
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Health Insurance
Individual · Family Floater · Senior Citizen
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Motor Insurance
Car · Two-Wheeler · Comprehensive · Third Party
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Home Insurance
Property · Contents · Renters Insurance
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Business Insurance
Fire · Liability · MSME · Shop Insurance
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Travel Insurance
Domestic · International · Medical Evacuation
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Critical Illness Insurance
Cancer · Heart · Kidney · Stroke Cover
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Group Insurance
Corporate · Employee Benefits · Group Health
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General Insurance
Fire · Marine · Miscellaneous Covers
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Liability Insurance
Professional · D&O · Public Liability

How to Buy Insurance in India — 5 Simple Steps

Get the right coverage in minutes — completely online

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Choose Plan
Select the type — Life, Health, Motor or Business insurance based on your needs
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Compare
Compare premiums, coverage, claim settlement ratios & benefits across providers
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Submit Documents
Upload Aadhaar, PAN, address proof & any required health declarations
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Pay Premium
Pay online via UPI, Net Banking, Credit/Debit Card or EMI options
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Get Policy
Receive instant policy copy on email. Coverage begins immediately

Tax Benefits on Insurance in India

Save more on taxes while protecting your future — dual benefit of insurance

Section 80C
Life Insurance Premium Tax Deduction
Premiums paid towards Life Insurance policies — including Term Plans, Endowment Plans, ULIPs, and Child Plans — qualify for tax deduction under Section 80C of the Income Tax Act.
Max Deduction: ₹1,50,000 per year
Section 80D
Health Insurance Premium Tax Deduction
Health insurance premiums for self, spouse, children, and parents qualify for deduction under Section 80D. Higher limits apply for senior citizen parents.
Self/Family: ₹25,000 · Senior Parents: ₹50,000
Section 10(10D)
Tax-Free Maturity & Death Benefits
Under Section 10(10D), the maturity proceeds and death benefits from life insurance policies are completely tax-free — making life insurance one of India's best tax-efficient instruments.
100% Tax-Free Maturity Proceeds
NPS + Insurance
Additional ₹50,000 Deduction via NPS
Combining your life insurance plan with the National Pension Scheme allows an additional ₹50,000 deduction under Section 80CCD(1B) — over and above the ₹1.5 lakh 80C limit.
Additional ₹50,000 under 80CCD(1B)

Why Insurance is Important & Why Choose Us

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Financial Protection
Insurance acts as a financial safety net during medical emergencies, accidents, property loss, or unexpected death — preventing financial ruin.
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Peace of Mind
Knowing your family, health, vehicle and business are covered lets you live and work without the constant fear of financial catastrophe.
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Risk Management
Transfer financial risks to an insurer. Pay small regular premiums instead of bearing the full cost of large, unpredictable losses yourself.
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Tax Savings
Life insurance and health insurance premiums reduce your taxable income under Sections 80C and 80D — saving thousands every year.
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Quick Comparison
We offer easy comparison of premium rates, claim ratios, and benefits across all top Indian insurers so you get the best value plan.
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Expert Guidance
Get personalised consultation to choose the right coverage amount, policy tenure, and add-ons based on your specific life stage and needs.

Complete Insurance Directory — A to Z

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Casualty Insurance Catastrophe Bonds Chargeback Insurance Collateral Protection Insurance Computer Insurance Condo Insurance Contents Insurance Credit Insurance Critical Illness Insurance
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Rent Guarantee Insurance Renters' Insurance Retrospectively Rated Insurance Satellite Insurance Shipping Insurance Stop-Loss Insurance
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Terminal Illness Insurance Terrorism Insurance Total Permanent Disability Insurance Trade Credit Insurance Travel Insurance Tuition Insurance UCC Insurance Uninsured Employer
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Vehicle Insurance Wage Insurance War Risk Insurance Weather Insurance Workers' Compensation Workers' Compensation Employer Defense Zombie Fund

Frequently Asked Questions About Insurance in India

The best insurance plan depends on your needs. For income protection, Term Insurance offers the highest coverage at the lowest cost. For medical expenses, a Health Insurance plan with minimum ₹10 lakh coverage is recommended. Motor Insurance is mandatory for vehicle owners under Indian law.
Experts recommend at least ₹5–10 lakh coverage for individuals and ₹10–25 lakh for families. With medical inflation exceeding 14% per year in Indian cities, higher coverage through Super Top-Up plans is very advisable. For senior citizen parents, opt for ₹10–20 lakh coverage.
Yes, you can easily compare and purchase insurance completely online in India. Major insurers like LIC, HDFC Life, ICICI Prudential, Star Health, and Bajaj Allianz all offer online portals. Online policies are often cheaper than offline ones due to lower distribution costs.
Term Insurance is a pure life cover that pays a death benefit if the insured dies within the policy term. It has no maturity value but offers very high coverage (₹1 crore+) at low premiums. Life Insurance (whole life or endowment) includes a savings or investment component and may pay a maturity benefit if you survive the policy period.
Yes. Third-Party Motor Insurance is mandatory under the Motor Vehicles Act 1988 for all vehicles in India. Driving without valid insurance can result in a fine up to ₹2,000 for a first offence. Comprehensive insurance is optional but strongly recommended for full protection against own-damage, theft, and natural calamities.
Life insurance premiums qualify for deduction under Section 80C (up to ₹1.5 lakh per year). Health insurance premiums qualify under Section 80D (up to ₹25,000 for self/family; ₹50,000 for senior citizen parents). Life insurance maturity proceeds are tax-free under Section 10(10D).
A Family Floater Health Insurance Plan covers the entire family — spouse, children, and sometimes parents — under a single policy with a shared sum insured. It is generally more economical than buying individual policies for each member, and covers all members against hospitalisation, surgery, and day-care expenses.
A ULIP (Unit Linked Insurance Plan) is a life insurance product that combines investment and insurance in a single plan. Part of your premium goes towards life cover and the remainder is invested in equity or debt market funds. ULIPs offer market-linked returns with life cover benefits and tax savings under Section 80C.
Critical Illness Insurance provides a lump-sum payout upon diagnosis of serious illnesses like cancer, heart attack, kidney failure, stroke, or organ transplant — regardless of actual hospitalisation costs. It is recommended for anyone with family history of critical illness or high-stress lifestyle. The payout can be used for treatment, income replacement, or any purpose.

About MazaIndia Insurance Services — Complete Guide

Finding the right insurance plan in India can be overwhelming with hundreds of options. MazaIndia simplifies this by offering a comprehensive directory of every major insurance type — from life insurance and health insurance to motor insurance, travel insurance, and specialised covers for businesses.

Insurance in India has grown tremendously, with the IRDAI regulating over 60 insurance companies offering thousands of policy variants. Whether you are a first-time buyer looking for a simple term plan, a family seeking a family floater health plan, or a business owner needing property insurance — MazaIndia guides you to the right choice.

Beyond the most common plans, we also cover niche insurance types like pet insurance, earthquake insurance, terrorism insurance, satellite insurance, and even weather insurance — helping every individual and enterprise understand the full spectrum of financial protection available in India today.

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