subject: Fire, Group Accident, And Personal Accident Insurance [print this page] Gone were the days when running smooth lives were not feasible as it is today. Numerous advantageous concepts and their implementation over time have facilitated a secured and safe living. Yes, we are delving on the concept of insurance. The term insurance is not limited to only one segment but various segments. You can think of getting insured for almost everything right from your assets to health, travel, including personal accident insurance, fire insurance, group accident insurance, and the list goes on. The premium you pay differs from segment to segment and from policy to policy. And against a meager premium which may me yearly or two-yearly that can also be paid in installments facilitated by banks, the benefits you get in return amounts to lakhs. Dont you gain a competitive advantage then? So, if you have not yet got fire insurance or group accident insurance or personal accident insurance, go for them; it is not yet too late. You will only regret once any such untoward incidents occur and you dont have an insurance policy to claim the expenses!
Fire insurance covers your residence, business assets, etc. against sudden and accidental loss or damage. Few companies facilitate insurance of consequential loss of profits following damage to assets due to insured perils. Look for an insurance service provider that offers such benefits and get it. Unless add-on cover is chosen, most fire insurance policies wont cover fire because of terrorism, earthquake, spontaneous combustion, etc. Look for such clauses and add-ons before you buy fire insurance.
What is the difference between personal accident insurance and group accident insurance? Well, accidents occur unexpectedly; no one can predict when it will happen! While personal accident insurance covers death, permanent total disability, permanent partial disability and temporary total disability of the insured victim, group accident insurance covers employees of a certain organization against accidental bodily injury, death or disablement.
Personal accident insurance cover can be bought for the family so that all family members are covered. Accidental death is covered by life insurance; and this is covered by this scheme as well. When against a meager premium, you can even get cover for disablement, especially in case of loss of earning capacity, you only gain a competitive advantage. Even if you have health insurance go for it and get double security!
Group accident insurance not only covers employees but also their dependents, i.e. spouse, children, and parents.
by: RobenWilliams
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