Insurance Loans: INSURANCE POLICIES

<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal">
<div style="text-align: justify;">
The information 
given by the proposer in the personal form in is checked by agent field
officer from the their personal knowledge . In 
additional they give a special report called confidential report . In
case the proposer is an employee in an organizations , it is possible to check
the details with his employees if required, If the proposer is a female ,
the  insurer can insist  on certain minimum  educational qualification if she is not
employed.  Normally an insurer may grip
give up to Rs. 50,000 for un employed persons and Rs. 1,00,000 for other male
lives under what can be called as, non medical  
general category up to the age of 40. 
There can be another category called non medical special, which is a
meant for the both male and female employed category up to the rs. 8,00,000 .
Age  restrictions  can be there up to age of 45.  Special categories of people can be
considered under non medical scheme  like
people working in defense  service and
also professional like doctors, engineers, chartered accountants,  architects etc., </div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMGvqYdF1RWS-NAt0OBtB9H6qe789VFdUe2om996cf_BgJqKcLilZ9ka_ET_1SZ4JH7E4pIIUw5UuyejhIRbf8gsTbaOWiyrwKcsnaKHyxythBkZn2lPtGASfVV52NLD3DUObQorr8Nfg/s1600/loans2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMGvqYdF1RWS-NAt0OBtB9H6qe789VFdUe2om996cf_BgJqKcLilZ9ka_ET_1SZ4JH7E4pIIUw5UuyejhIRbf8gsTbaOWiyrwKcsnaKHyxythBkZn2lPtGASfVV52NLD3DUObQorr8Nfg/s400/loans2.jpg" width="400" /></a></div>
<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal">
<div style="text-align: justify;">
  Here the sum assured can go up to the Rs.
8,00,000. Similarly  ladies who are
income tax payees in view of their income from rentals, business, investments
etc.,  Provided  they are fairly educated can be
considered  under non medical categories
.  There can be a few restrictions  with regard to the products, term maximum
maturity age, etc.,  depending  on the life. 
Age being the basis of premium calculations  has to be the proved beyond doubt by the
means of evidences like the school leaving 
certificate  , employer’s
certificate  passport etc., </div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjO5xXWO3XDKo_OGeA5MlHUzud4nUw5-ZF58M0Qk7eIoH-LRV7j_1hC4_LXdIl3q0f_fzso7nIjbQnUESV1wE6aoY0WsYcfx63R9yXtZbRNKylyDh5bdSngMPvaiMlSpE3rKd6HU1P7cxE/s1600/fgfg.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjO5xXWO3XDKo_OGeA5MlHUzud4nUw5-ZF58M0Qk7eIoH-LRV7j_1hC4_LXdIl3q0f_fzso7nIjbQnUESV1wE6aoY0WsYcfx63R9yXtZbRNKylyDh5bdSngMPvaiMlSpE3rKd6HU1P7cxE/s400/fgfg.jpg" width="266" /></a></div>
<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal">
<div style="text-align: justify;">
  MEDICAL UNDERWRITING:  Beyond 
the non medical limits it is necessary to take the help of a medical
report to assess the risk. The non medical 
format takes care of the factors that a person should normally be aware
of the whereas the medical format goes to the beyond it to give the insurer
certain vital information. After the field worker’s initial scrutiny hence they
are called the primary underwriters , comes the role of a medical examiner in
assessing the risk. The examination brings out certain information that the
proponent may be knowing but still intentionally  trying to suppress it or he may not be  revealing 
them inadvertently or he may be a it is the  ignorant of that information. </div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhx7rz-KdcXNjVayULDGHxh9M4Bv9Jb0e1Algf9Kl4B79_evNhAWhkM0g09RQC_JQn6E7dxwSq3MACV5LvDCqeH-kI0SU3KOzvpZlfiBszgbEaHslTs2rkuq-MQavzySU3yZvVgUFX-r0M/s1600/Insurance5.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="211" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhx7rz-KdcXNjVayULDGHxh9M4Bv9Jb0e1Algf9Kl4B79_evNhAWhkM0g09RQC_JQn6E7dxwSq3MACV5LvDCqeH-kI0SU3KOzvpZlfiBszgbEaHslTs2rkuq-MQavzySU3yZvVgUFX-r0M/s320/Insurance5.jpg" width="320" /></a></div>
<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal">
<div style="text-align: justify;">
  FEMALE LIVES UNDERWRITING:  IN view of the physiological conditions of
women, their increased risk due to the child birth, gynecological conditions ,
the social factors pertaining to their 
status like married, spinster, widow etc.,  we have a large number of factors
affecting  their mortality which are
described below.  In view of the need for
insurance as well as a  the capacity to
pay, it is a essential to divide the women into 3  categories as followed: 1. Women who are
gainfully employed and having an income. 
2. Women who are not employed but are in receipt of certain  income like rentals business investments  etc., 
3.  Women who have no income.  A part from the above risk assessment  include their marital status like married
single widow etc.,  The women who are
working are and earning independently  
come on par a with working men. The women who have only unearned  income are still eligible for life insurance
in view of status like income  tax
assessee, wealth  tax assessee, etc., The
third group needs a careful examinations as there will not be the any monetary
loss in that heir absence . The premiums are normally paid by their  husband or beneficiaries . The questions of
moral hazard is crucial in these cases and with the abundant cautions the
insurer may offers pure savings plans or deferred annuity plans, so that no
body  gains unduly by the death of the
assured. The widow with a young child may be considered  with the offspring being the nominee.,  Similarly in the case of married women with
no income  there is no obvious need for
life insurance . However in view of the emotional loss due to the death of the
wife and the wife being a  source of
indirect  income of the family in
the  shape of the household duties  rendered by her to the family, the
insurers  may be considered
favorably  subject to the husband’s
insurance children insurance.  A part of
the from the above the cultural background of the family to which the lady
belongs and the place of residence like metro city or rural area where medical
facilities are not available immediately 
also plays the part in the deciding the quantum of life insurance .
Undoubtedly expect the earning 
category  women, the other cases
come under medical  category  preferably medical examinations being  done by a lady medical examiner. </div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaLaOGcXZKlFZPQGmQdIVh4qGshQVyJi17aBYJ9lxrtxFtardxkUYOxfsA_63KoyAdFTZZTu5mTz48Heo0ocEplVeaoW9CiT1bJBkcmRZ5XcrQuCfhqMMJToc_wTtq7APpnNURGnMfJVc/s1600/leadership-businesswoman.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaLaOGcXZKlFZPQGmQdIVh4qGshQVyJi17aBYJ9lxrtxFtardxkUYOxfsA_63KoyAdFTZZTu5mTz48Heo0ocEplVeaoW9CiT1bJBkcmRZ5XcrQuCfhqMMJToc_wTtq7APpnNURGnMfJVc/s400/leadership-businesswoman.jpg" width="400" /></a></div>
<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal">
<div style="text-align: justify;">
If a male
gynecologist does the tests it should include the pervaginal examination with
the proposer’s  consent , which is the
compulsory  for virgins too up to a
certain age. A female extra premium is being charged  wherever required especially in the case of
semi-literate  /illiterate ladies.  In view of peculiar  physiological conditions of ladies, it is
necessary to impose a few restrictions 
like pregnant ladies beyond 3 months of pregnancy will not be
considered. Proposals within 6 months of normal delivery  and within 1 year of caesarian delivery  will not be 
entertained. However if regular menstruation  has commenced 
then the proposal can be considered 
3 months after delivery.  In a few
cases we may accept the proposal with 1 year pregnancy  clause if menstruation has not recommenced. A
clause  is normally a restrictive
condition in the policy imposed by the insurer going by the few factors
affecting mortality  with reference to the
particular  risk being underwriting  . Wherever a normal full-time delivery  has not taken place, the proposal can be
accepted with a one time single extra premium.</div>
</div>
</div>

SAFEGUARDS IN NON MEDICAL UNDERWRITING

The information given by the proposer in the personal form in is checked by agent field officer from the their personal knowledge . In ...

<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal">
This policy is to
offer comprehensive  and adequate
insurance protections against  all risks
involved in the erections  of machinery
and plant  as well as steel structures of
any kind of the . This policy has become 
an indispensable  part of the
progress  in all industrialized  countries. Large projects such as the  erections of thermal power station,
Fertilizer plants oil refineries of the installations  of complete factory facilities, bring about
so much  many risks for both the
contractors and the principles that it is so only  possible 
to bear the risks in an economical manner by the taking out an EAR
insurance. SCOPE OF COVER: This is a comprehensive insurance cover that is
available  to the client in respect  of any sort of the contingency  from the moment  the materials are unloaded  on the site of the project   works and the continuous during  storage, physical erections and till the test
run is the over which covers all physical losses or damage as under:<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgewJCtRKNusaRDR1v85fkh87hzG0l4-gZIkBJagWYmjlWlNDIj0wIGeZSgv1bvj7Xy16lMXSZ1sI3OUyF553jx66De5BBP624Xc-Ydfzd4XJhGoA2reF-B3N4-w0mxwZL-y8iJ6GIKHgQ/s1600/business2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="271" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgewJCtRKNusaRDR1v85fkh87hzG0l4-gZIkBJagWYmjlWlNDIj0wIGeZSgv1bvj7Xy16lMXSZ1sI3OUyF553jx66De5BBP624Xc-Ydfzd4XJhGoA2reF-B3N4-w0mxwZL-y8iJ6GIKHgQ/s400/business2.jpg" width="400" /></a></div>
</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
LOCATION RISK: Fire, Lightning , Theft
and Burglary.  (2).  HANDLING RISKS: Impact  from falling 
objects , collision,  failure  of chanes or tackles.  (3). OPERATIONAL RISKS:   Failure 
of safety  devices, leakage of the
electricity  insulations failure short
circuit , tearing apart on the account 
centrifugal forces, explosion.  
(4).  RISKS OF HUMAN ELEMENT:
Carelessness, Negligence, defaults  in
erections Malicious damage, strike and riots., 
(5).  ACTS OF GOD: Storm,
Tempest,.  Hurricane, Flood,
Earthquake.,   UM INSURED;  The sum insured is the value of the  machinery plant which has to be replaced at
the time and condition it was a  just
prior to the accident. The sum insured should represent totally  erected value of the property as at the site
in the questions  and hence comprises
numerous elements  besides  the basic cost of materials imported and
indigeneously  procured. The sum  insured for a project  is arrived at as given below: Prime cost of
machinery Bare cost, Freight  Duties
Excise paid that the point of origin by the if any, + Super visions cost that
the  at the point of destination if any +
Super vision cost of the point of loading 
if any + customs excise  duty at
the point of discharge  if any+
warehouses  charges if any + clearing  and forwarding  expenses 
+ Fabrication charges+ Handling 
charges+ Erections super visions 
and other incidents  and other
overheads. It is to be noted that various 
above expenses  are reimbursed at
the time of the claim to the extent they are included in the sum insured.  </div>
<div class="MsoNormal">
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisxhgvfxwDg70vr8FhfMABDGKignT_MIU2zcRv9mR9lxfD1CsJEwdDhJMA8z_IG0ZTFliVGmoymgARUhoy4kWXSF8rc4wh9TvTRYw-oGL43ua-eu-IFK5M539B_-1XfI6olYaNbIyFXAY/s1600/frtr.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisxhgvfxwDg70vr8FhfMABDGKignT_MIU2zcRv9mR9lxfD1CsJEwdDhJMA8z_IG0ZTFliVGmoymgARUhoy4kWXSF8rc4wh9TvTRYw-oGL43ua-eu-IFK5M539B_-1XfI6olYaNbIyFXAY/s400/frtr.jpg" width="400" /></a></div>
<br /></div>
<div class="MsoNormal">
BASIS OF INDEMNITY:   In the event of the  loss or damage , the insured will be
indemnity  for the expenses
necessary  to restore  the damage machinery or plant to its
conditions  immediately before the
occurrence of the damage. Partial repair costs are met if the same be part of
the final repairs and do not increases total repair costs, of the cost  of repairs to be in excess of the value of
the item  before the loss, the settlement
will be as for total loss. The cost  of
the any improvement and modification 
will not be any event be the insurer’s 
liability and conditions of average will apply.  On payments 
of a claim the insured shall be   reinstate the sum insured by payments of a
pro-rata premium from date of loss to expiry 
date.  Extra charges towards
overtime, night works, work on a holidays payable, if the same was initially
agreed  upon the and requisite additional
premium paid there of. Express freight does not include air freight . It refers
only to the faster surface  freight.
Express  freight does not include air
freight. It refers only to faster freight. Risks  with totally erected  value 
exceeding  Rs. 50 crores  should be referred to TAC for rating
through  Regional office/ Head office.
The rates are all tariffed according to the type of risk. Any deviation
adhering  to the terms and rates will be
construed as a breach   of tariff. It is
hence, necessary  that in the case of the
doubt, , references should be  made to
Regional Office/ Head office. Even  where
provisional rating the is involved , it should be as per regulations<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicE4k7I3CZdc4gyw8z7_PoysNuz1LNbEa8-8tjBMC063BN6kJp72OnkESU7jAsSt7NJDNslLrXfAKsGjEK7knBIMkBlpi9p1RlwgWuMqpy_ImUFfswjm22v2KmaKYnIZoDIQcYvayIYs0/s1600/business-women.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicE4k7I3CZdc4gyw8z7_PoysNuz1LNbEa8-8tjBMC063BN6kJp72OnkESU7jAsSt7NJDNslLrXfAKsGjEK7knBIMkBlpi9p1RlwgWuMqpy_ImUFfswjm22v2KmaKYnIZoDIQcYvayIYs0/s400/business-women.jpg" width="400" /></a></div>
<br /></div>
</div>

ERECTION ALL RISKS (EAR ) INSURANCE

This policy is to offer comprehensive and adequate insurance protections against all risks involved in the erections of machinery and p...

Insurance Loans

SAFEGUARDS IN NON MEDICAL UNDERWRITING

ERECTION ALL RISKS (EAR ) INSURANCE

Popular Posts

Blog Archive

Labels