Fire Insurance is an insurance contract between an insurer and an insured. It protects you from property damages due to fire and other covered perils. What are the principles of fire insurance? Indemnity – It compensates only to the extent… Continue Reading
Under group insurance, 25 people or more can form a group to issue a master policy. Groups like business firms, banks, hospitals, schools, religious organizations, etc can invest in group insurance for various perils. For a group to be recognizable for… Continue Reading
How Does Endowment Work? An endowment is a savings plan that creates a fund for a particular purpose. The purpose is usually a responsibility we have as adults. This could be your children’s higher education, wedding, or retirement. An endowment… Continue Reading
Critical illnesses like cancer, heart diseases, polio, etc cost a hefty amount to get treated for. A normal medical would not be sufficient to cover even 10% of the treatments. A person above the age of 35 should invest in… Continue Reading
In India, there are 5 lakh accidental deaths or disabilities every year, and the ones who suffer the most are the ones who are working and are young. Young people mostly die because of accidents and not natural deaths. Not… Continue Reading
Every Insurance Policy is of two types – Traditional Participatory plans With the guidelines of the IRDA, the money is invested and managed by the insurance provider. This allows your insurer to inform you about the amount and bonuses that… Continue Reading
Since the pandemic, the relevance of the MWPA act has been significantly increased in the insurance industry. By purchasing a Life Insurance policy through the MWPA act, you are creating an asset for your family, and all the rights of that policy… Continue Reading
The primary purpose of investing in life insurance is that it protects the livelihood of family members that depends on the existence of the policyholder. Insurance helps solve the problem of the family members having to fend for themselves by… Continue Reading
Definition of Lapsed Policy A lapsed insurance policy means that the policy and it’s benefits that you had purchased are no longer valid due to the non-payment of the premium amount on the due date. For instance, you bought your… Continue Reading
Is a standard health insurance policy enough? With the economic loss that Covid19 has brought to our country and the growing inflation rate of India, a standard health insurance plan is not enough for you and your family when times get bad.… Continue Reading