COVID-19 has made every industry rework on its strategies, be it for managing in-house/external operations, dealing with market instability/remote working logistics, or providing customer service, and the insurance industry is not an exception to it. In fact, the insurance industry has been hit hard the most since corona positive patients are requesting insurers to cover their expenses under health coverage.This surely has made things complicated for the insurers, since, at one surface, they … [Read more...] about Insurance Industry’s Behavior During and Post COVID-19!
Insurance
Difference between Regular Insurance and Medicare Insurance
Insurance is an agreement between an individual and a company in which the individual gets financial reimbursement against damage, illness, loss, or death.Insurance comes handy when an unexpected situation comes up in life. For example, there could be a car accident, a sudden death, or a medical emergency. Such reasons generate the need for insurance.In these types of scenarios, the insurance company will repay for the loss or emergency. In the US, insurance can be acquired either … [Read more...] about Difference between Regular Insurance and Medicare Insurance
Know it before Claiming Phone Insurance
Life is uncertain and unpredictable. No one knows what next moment holds. Anything is possible, so we should always try our best stay prepared before any uncertainty. This highlights the need of different types of insurances in our life. The growing need for insurance has shown why types of insurance policy are important.There are many types of insurances like, health insurance, life insurance, auto insurance, long term disability coverage, property insurance, fire insurance, pet insurance, … [Read more...] about Know it before Claiming Phone Insurance
Workers Compensation: The Benefits All Aussies Have
The latest statistics of the Australian Bureau show that many Australians fail to understand the importance of Workers' compensation claims. Figures indicate that the majority of Australians suffering from chronic diseases or at risk of being injured in a work accident, fail to protect themselves from temporary loss leading their financial security at risk.In some cases, it also affects their ability to earn for their family. It is compulsory to apply for a worker's compensation scheme in … [Read more...] about Workers Compensation: The Benefits All Aussies Have
The Growing Need for Insurance in 2020
Insurance is among the most rising sectors in the world and will proceed to see where protection is increasingly required. The industry has changed and is now seeking new development in various fields. Insurers have felt obliged to find alternative ways of investment because of the constantly growing insurance industry. The ambitious steps for capital allocation, increases in efficiency and financial investment will be decided on a company's long-term growth.The home alarm insurance … [Read more...] about The Growing Need for Insurance in 2020
7 Insurance Tips to Secure your Business
Business is one of the most powerful terms that is recognized today. So a business can be an occupation, profession, or any commercial activity. Every type of business is different from other businesses based on organizational activity. It is very hard to secure business when it comes to the crisis we face in 2020.Business owners face hectic life, which can be in the form of making final decisions, selecting the right step in keeping employees satisfied. Every week or so, many websites and … [Read more...] about 7 Insurance Tips to Secure your Business
Why Health Insurance is Important?
How many times have you encountered an unfortunate visit to the emergency room that turned out to be something serious? Apart from the stress one thing that adds to your problems can be the hefty hospital bill that can keep pilling up.In order to avoid huge amounts of financial pressure in the case of a medical emergency, a health insurance can be very helpful for every working person. Through it you can avoid many future problems that you may encounter in terms of health.Reasons why a … [Read more...] about Why Health Insurance is Important?
What You Need to Know About Contractor Income Protection
Contractors play an important role in construction projects. More often than not, they coordinate with companies and people looking to build an estate and connect them with the material, labor, and other essentials required for the successful building of construction projects. Whether it is a retail store, home, or an interior overhaul, contractors are the unsung heroes in the industry of modern establishments.However, contracting jobs are project-based. As a contractor, it is not very easy … [Read more...] about What You Need to Know About Contractor Income Protection
Principles of Life Insurance Policy
Life assurance may be defined.A contract in which insurer agrees to pay a specified sum on the happening of a particular event. .A contract whereby the amount insured become payable after the consideration of the premium either at death or at a particular age.An economic and social device by which protection may be provided for the insured at a stated age.The primary purpose of different life assurance policies is to afford financial protection to dependents when the earning … [Read more...] about Principles of Life Insurance Policy
Things Making Valid Marine Insurance Contract
Marine Insurance is the oldest known type. It is a contract of indemnity in which the underwriter agrees to compensate the insured against specified perils in consideration of a certain premium. Some writers define marine insurance. “It is a contract of indemnity whereby the assure undertakes to indemnify the insured in a manner and to the extent thereby agreed against the loss caused in connection with a marine adventure.” It is primarily concerned with the loss imposed by some maritime perils. … [Read more...] about Things Making Valid Marine Insurance Contract
Types of Life Assurance Policy
Whole Life PolicyThis policy covers the whole life of the insured person. The assured amount is payable only after the death of such comparatively lower and are paid throughout life for a specific period. This policy is useful to provide protection to the family. It is also named a straight life policy.Term PolicyThis is the oldest type of policy which is issued for a fixed period of time. If the assured person dies within the specified period the insurance company has to … [Read more...] about Types of Life Assurance Policy