If you own a small business, its expected that youll do your best to make sure that your employees dont have to face illness or injury due to work. Just in case they suffer from illness or face an accident, they can sue your business for the required compensation. This is when you may need Indemnity insurance to protect your business and get coverage against claims made by your employees. What Are The Types of Coverage? Insurers offer two types...more
You have been paying your life insurance for more than five decades and then suddenly, just when you are about to fill up your insurance claims for that lifelong retirement dream, you are told by the insurance company that you still have to pay some fees to be eligible for it. All of a sudden, those dreams of that retirement home along white and sandy beaches came crashing down on you. What do you do in such a situation? Who do you turn to? Where...more
If you are a hotelier, you may have to face risks and legal liabilities. This is when you will need hotel insurance. Read on to find out what the best insurance policy could cover for your hotel. Hotel Insurance Coverage You will get the following coverage through a hotel insurance policy. Public liability cover: Public liability insurance policy covers injuries or illness suffered by guests or material damage claims made by them. The amount of coverage you require should be decided after assessing the hotels risks. It may include the ongoing healthcare expenses of your guests and legal / defence fees. The size of your hotel also affects the amount of policy coverage. Employee Liability Insurance: The law requires you to seek coverage for employee liability insurance. Such coverage will help you compensate for employees illness and injury. It will also cover damage to your employees personal possessions due to their work in your hotel. To find out the coverage for employee liability insurance, calculate the number of employees you have and the risks their job roles can bring to them. The maximum amount can be as high as 10,000,000. However, you should check whether this amount...more
If you run a hotel, it is likely that you will need to purchase a hotel insurance policy. This plan will cover damages or illness caused to your employees or claims made by your guests for damages they have faced while they stayed at your hotel. However, you need to keep in mind certain aspects which will help you get the best coverage to protect...more
With ever changing scenarios and complexities in the life styles and working conditions of people everywhere, there are various risks and perils that can happen to everyone around the globe and this leads to thinking that insurance is needed to protect various items and people. While keeping this aspect in mind while organizing special events as...more
Unit Linked Insurance Plan is a special type of an insurance plan which provides the dual benefit of a risk cover as well as wealth creation. The performance of these insurance plans is linked to equity or debt markets. In a ULIP investment, a part of the premium paid by the policyholder is towards the life cover, whereas the other part is invested in equity or debt instruments, to generate a higher return on investment.ULIP mainly works on the principle of rupee cost averaging and aims to safeguard your investment from short term market fluctuation. Like in mutual funds, for ULIP plans, a daily net asset value (NAV) is declared which determines the performance of the ULIP. These plans are flexible and have a wide array of options to switch between different asset classes. Hence, an investor can decide a policy where the equity exposure is more than debt during favorable market conditions and vice versa. The main advantage of a ULIP is that it qualifies for tax exemption under Sec. 80 C of the Income Tax Act, 1961. Also, the flexibility that one enjoys to choose the term, insurance cover and get the benefit of earning a higher return, if the policy performs well is an added...more
Any construction project involves a big deal of manpower and money. Whenever you implement a construction project, you are risking your property, your money, and the lives of your construction team. Your contractors are risking their health and lives...more
Nightclub insurance is a very important insurance product. Bar insurance policy is an essential sort of insurance that all bar owners should buy, since there are abnormal risks connected with the entire process of this sort of company. If you acquire...more
Whenever you go to a special occasion, you could be so dazzled by the decor, meals, consumes and amusement that you do not give passing thought to all the risks hiding around every corner. However as a party coordinator or host, it's your job not...more
Taxes are unavoidable, whether you are a government employee or a businessman. Most people plan and take bonds, insurance, mutual funds and other ways to reduce their tax amount or at least get some tax benefits. However, insurance plans are not only...more
Most people view insurance as an additional expense they cannot afford while others see it as a luxury that can be overlooked. However, the reality is that everybody needs an insurance cover. Life has become full of uncertainties, some of which are...more
Workers compensation coverage safeguards a business from doling out dollars to the workers, in case they encounter injuries at the workplace. It entitles workers for compensation, but also bars them from suing the business for damages.Earning profits...more