The following types of groups can purchase group term life insurance on the lives of the group members: Employer-employee Consumer Groups Associations for their Members Non-Profit Organisations Other Self-interest groups formed for a purpose other than to avail a group of insurance An employer can purchase a group term life insurance policy for employee groups […]
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Customising your group health insurance policy
To ensure the health of your business, it is necessary to take care of your employees’ health. By offering a group medical insurance policy, you can take care of your employees’ rising medical expenses that could otherwise be a major burden on their finances. Often, organizations review the background of insurers and the policy but […]
How to Buy the Best General Insurance for Your Business
Looking to make it big in the corporate world? If you are a business person, your primary focus would be to make it a successful venture which cannot be possible until and unless you provide the best facilities to all the people connected to your business! Although you might have invested in all the possible […]
When Relying on Insurance Covers offered by Employer is a Good Idea?
Group Insurance schemes are often looked down upon in comparison to an individual insurance policy (said to have a greater benefit of customization). It seems as if there are no probable advantages to Group Insurance schemes and one can do without them as well. But, the reality differs a bit. Group Insurance provided by any […]
What Is Covered Under Group Health Insurance?
Group health insurance offers many benefits to employees, or their members, covered under the policy. Complete hospitalization expenses incurred by an employee for self and dependents, like spouse, family, and parents, are covered under a group health insurance. Key Takeaways Zero Waiting Periods: Unlike individual plans, group insurance typically covers pre-existing and chronic illnesses (like […]
Why do you need Commercial Property Insurance?
Mr. Kishan Singh owns a textile business in Vadodara and has rented an office in a commercial building for technical operations. Adjacent to it is a Tiffin Service office where fresh food is cooked and delivered to the employees. Once, due to the negligence of the workers in the adjacent office, the fire erupted and […]
Insurance sold by car dealers can be costly
Published in Mint, on 21st Feb 2017 If you are buying a new car, buying insurance for it is perhaps the last thing on your mind. Plus, the car dealer makes insurance purchase easy by bundling the policy with the deal. But the policy from the dealer can be expensive and you may get a […]
Common General Insurance Terms You Should Be Aware Of
Here are some of the commonly used general insurance terms: Insurance: It is a contract between two people (or companies) wherein one of the persons agrees to cover the risk of the former and promises to compensate him in the case of any loss. Proposal: It is the application form for applying for insurance cover. […]
Five types of organisations which must have Professional Indemnity Insurance
All professionals are susceptible to making mistakes due to negligence at work. However, a doctor, lawyer, or financial advisor committing an error, though seemingly negligible, may lead to losses or land their clients in unfortunate circumstances. In case of a lawsuit, these professionals may have to pay from their pockets or even suffer a loss […]
Insurance premiums, including top-ups, get income tax deduction
Published in Mint on Jan 05 2017, Written by Abhishek Bondia I have a 10-year unit-linked insurance plan (Ulip) with an annual premium of Rs30,000. I have received a performance bonus that I want to invest in the same Ulip as a top-up. Will I get a tax deduction benefit on this also under section 80C […]