The term Insurance,
broadly defined, is that of an agreement in which both
parties agree to the sharing of risk. Basically, the
client pays a sum of money called the Premium
and in turn the Insurance firm would commit to pay a
predetermined sum of money to meet the customer's claims.
Health insurance and Life Insurance
will protect you and your dependants against any financial
constraints arising on account of a medical
emergency.
Insured against what risks?
a. Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act.
b . Riot and strike; terrorism; earthquake; flood, cyclone and inundation
c. whilst in transit by rail, road, air, elevator, lift. Perils under can be deleted and a discount in premium availed.
d. Liability for third party injury/death, third party property and liability to paid driver.
e. On payment of appropriate additional premium, loss/damage
to electrical/electronic accessories, PA cover for drivers,
insured or any named person, unnamed passengers can
also be taken. Certain discounts in premia are also
available.
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