Group health insurance plans are a type of medical insurance package that covers a group of people, or employees working in an organization, or of a society, or of a registered residential apartment. The plan covers medical benefits for the employees (insured), their spouse, their children, and the dependent parents (if mentioned). Key Takeaways The […]
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What are the advantages of a Commercial Liability Insurance plan?
Key Takeaways Defective Product Bodily Injury Protection: Manufacturing flaws can trigger massive lawsuits, but a policy covers legal expenses and pays compensation if a sold item breaks and injures a child. Premises Slip-and-Fall Coverage: Everyday upkeep can lead to major accidents, which is why a policy saved money for a restaurant owner when a customer […]
What is Property Insurance definition?
Property insurance as the name suggests provides cover against damage and theft of property to the owner or tenant of the property. It can be used to cover the structure of a building, or the contents kept inside the building by its owner(s) or tenants. Key Takeaways The Portfolio Consolidation Advantage: Modern property insurance operates […]
Individual life insurance is relatively more economical than joint life plans
Published in Mint on Nov 25, 2016, Written by Abhishek Bondia I want to extend my life insurance coverage to include my wife. Should I go for it or would it just be better to get another plan instead? —Atul Shandilya Yes, you should get a separate plan for your wife. There are limited options […]
How professional indemnity insurance protects doctors against legal liabilities?
The Surat District Consumer Disputes Redressal Forum recently held a doctor guilty of medical negligence. The panel asked the doctor to pay Rs 4.8 lakh with a compound interest of 9%, and Rs 1.5 lakh to the patient’s relatives. So, what’s new in this information? It is common to hear about alleged doctors’ negligence causing […]
Don’t be like Mr. Verma, Know your Group Personal Accident Insurance in detail
Mr. Suresh Verma, a 35-year-old, was working as an IT professional in an MNC in Delhi for the last six years. Being tied up with office work, Suresh never knew what benefits his company’s personal accident insurance offered. He only knew that a certain amount of his income was deducted from his salary every month […]
What are the advantages of a Group Health Insurance ?
What are the advantages of Group Health Insurance? Group health insurance offers coverage to a group of people, as members of a society or employees of a company. The organization can either self-design a plan or choose a pre-planned insurance policy from the insurer. Key Takeaways The “Auto-Cover” Mechanism: Simply being part of the organization […]
What is the Workmen Compensation Insurance Policy?
Today’s global work environment has turned the spotlight on employees’ rights. To safeguard organizations from the threat of costly lawsuits and other financial liabilities insurers offer the Workmen Compensation Insurance Policy (WC Policy). It covers the statutory liability of an employer for the death, injury or occupational disease of an employee at the workplace. As […]
What is covered under a Critical Illness Insurance Policy?
Due to a sedentary lifestyle, even the younger generation is also suffering from life-threatening ailments like cancer, chronic kidney disease, cancer, diabetes, etc. According to the World Health Organisation (WHO), every year nearly 1.7 billion hearts stop working. Further, more and more youngsters are suffering from oral cancer as they hook on smoking, tobacco, or […]
What is covered under a Fire Insurance Policy?
A fire insurance policy covers all properties- movable or immovable- against various perils. The fire insurance policy has been renamed as the standard fire and special perils policy. So, in this article, we must discuss what is covered under a Fire Insurance Policy. Key Takeaways The Spontaneous Combustion Gap: Standard fire insurance excludes damage from […]