Kotak Secure Shield is a Benefit Product designed keeping this in mind to shield you & your family
against such adversities and provide a financial cushion.
This document provides information about HDFC ERGO's Critical Illness insurance plan called "Silver". It covers 8 critical illnesses including heart attack, cancer, and stroke. The plan pays a lump sum benefit up to the sum insured if the policyholder is diagnosed with one of the covered critical illnesses after surviving for 30 days. Premiums vary based on factors like age, sum insured, and policy term (1 or 2 years). The document outlines coverage and exclusions in detail.
This Insurance Policy provides a comprehensive protection and is specifically designed to guard you and your family against the trauma you face for repayment of your loan in the event of unfortunate incidences.
Assure is a comprehensive health insurance coverage plan from Religare Health Insurance. It covers Critical Illness, Surgical Procedures, Medical Events as well as give Personal accident cover.
One Underwriting General & Products Liability Insurance Clubs and HotelsMatrix Insurance Brokers
This document provides the policy wording for a General and Products Liability Insurance policy arranged by One Underwriting Pty Ltd for clubs and hotels.
It outlines key sections of the policy including definitions, exclusions, conditions, limits of liability, and dispute resolution procedures. Important notices are also provided regarding duties of disclosure, privacy, and the Insurance Contracts Act.
The policy indemnifies the insured for legal liability for injury, property damage and advertising injury claims that arise from the insured's business operations, and provides defense costs in addition to the liability limit. Various extensions of coverage are also included.
Aviva Health Secure is a health insurance plan that pays you a lump sum amount in case you are diagnosed with any critical illness and procedures as listed ahead.
Buy online Corona Kavach Health Insurance Policy for COVID-19 to safeguard your family members from hospitalisation expenses arising due to Coronavirus.
Bajaj Allianz Personal Guard insurance plan is a plan that covers the policyholders against bodily injury or death caused due to accidents along with the benefits such as medical expenses arising out of accident etc
This document provides an overview of various types of personal property and liability insurance policies. It discusses householder's insurance which provides comprehensive coverage for homeowner risks. It also covers motor vehicle insurance, including third-party liability insurance and comprehensive motor insurance. Other liability insurances discussed include directors' and officers' liability insurance, professional indemnity/liability insurance, products liability insurance, general liability insurance, public liability insurance, and workmen's compensation insurance.
This document provides information about HDFC ERGO's Critical Illness insurance plan called "Silver". It covers 8 critical illnesses including heart attack, cancer, and stroke. The plan pays a lump sum benefit up to the sum insured if the policyholder is diagnosed with one of the covered critical illnesses after surviving for 30 days. Premiums vary based on factors like age, sum insured, and policy term (1 or 2 years). The document outlines coverage and exclusions in detail.
This Insurance Policy provides a comprehensive protection and is specifically designed to guard you and your family against the trauma you face for repayment of your loan in the event of unfortunate incidences.
Assure is a comprehensive health insurance coverage plan from Religare Health Insurance. It covers Critical Illness, Surgical Procedures, Medical Events as well as give Personal accident cover.
One Underwriting General & Products Liability Insurance Clubs and HotelsMatrix Insurance Brokers
This document provides the policy wording for a General and Products Liability Insurance policy arranged by One Underwriting Pty Ltd for clubs and hotels.
It outlines key sections of the policy including definitions, exclusions, conditions, limits of liability, and dispute resolution procedures. Important notices are also provided regarding duties of disclosure, privacy, and the Insurance Contracts Act.
The policy indemnifies the insured for legal liability for injury, property damage and advertising injury claims that arise from the insured's business operations, and provides defense costs in addition to the liability limit. Various extensions of coverage are also included.
Aviva Health Secure is a health insurance plan that pays you a lump sum amount in case you are diagnosed with any critical illness and procedures as listed ahead.
Buy online Corona Kavach Health Insurance Policy for COVID-19 to safeguard your family members from hospitalisation expenses arising due to Coronavirus.
Bajaj Allianz Personal Guard insurance plan is a plan that covers the policyholders against bodily injury or death caused due to accidents along with the benefits such as medical expenses arising out of accident etc
This document provides an overview of various types of personal property and liability insurance policies. It discusses householder's insurance which provides comprehensive coverage for homeowner risks. It also covers motor vehicle insurance, including third-party liability insurance and comprehensive motor insurance. Other liability insurances discussed include directors' and officers' liability insurance, professional indemnity/liability insurance, products liability insurance, general liability insurance, public liability insurance, and workmen's compensation insurance.
This document summarizes an HDFC ERGO Health Suraksha Top Up Plus insurance plan. Key points include:
- It provides additional health insurance coverage once a deductible amount is exceeded from claims in a policy year.
- Coverage includes hospitalization, pre-and-post hospitalization, day care procedures, domiciliary treatment and organ donor expenses.
- There are eligibility criteria for individuals and families to be covered on individual or floater basis.
- Premiums vary based on sum insured, deductible amount, age and number of family members covered.
Securing one's family's future is the document writer's top priority. The ICICI Pru iCare II plan allows one to protect their family financially even in the event of one's unfortunate death. The plan offers flexibility to choose coverage amounts and payment options. It provides a death benefit equal to the chosen sum assured, and an additional accidental death benefit up to Rs. 50 lakhs. The plan aims to ensure one's family is financially secure and comfortable without worries, even in one's absence.
This document provides an overview of insurance planning and various insurance concepts. It discusses risk and risk management, the concept of insurance, principles of insurance including utmost good faith, insurable interest, and indemnity. It also covers types of insurance policies for life and general insurance, products, tax benefits, underwriting, and claims processes. Key terms related to insurance are defined throughout the document.
Kotak Health Shield Brochure Feb 2022.pdfviralAgarwal
The document provides information about the Kotak Health Shield insurance plan, which offers financial protection for critical illnesses like cancer, cardiac issues, liver disease, neurological conditions, and accidents. The summary plan provides lump sum payouts for diagnosis of early or major stages of covered critical illnesses. It also offers benefits like waiver of premium, daily hospital cash, and income benefit as optional riders. The document explains the various plan options available under the policy and details of the payouts under each plan for minor and major illnesses or conditions.
More Health Insurance Policy Wording by Reliance Health Insurance. MORE as a product primarily aims in making make health insurance Easy-to-choose, Easy-to-buy and Easy-to-use.
Buy here: https://www.reliancehealthinsurance.com/buy-health-insurance-plans-online.html
The document discusses various types of insurance, including life, general, health, and property insurance. It provides definitions and classifications of insurance, explains concepts like premiums and insurers, and gives examples of specific insurance policies and plans like health, home, and renter's insurance. Key details covered include classifications of insurance, definitions of terms, common policy elements and exclusions, health insurance initiatives and schemes in India, and importance of property and health insurance.
This document outlines the terms and conditions of a life insurance policy that provides funeral services instead of cash payments upon the death of insured individuals. Key details include:
- The policy covers up to 12 lives with minimum and maximum entry ages depending on the relationship to the primary insured.
- There are 8 packages that determine the value of funeral services provided, ranging from GHS10,000 to GHS100,000.
- Core services like funeral arranging and mortuary services make up at least 70% of the package value.
- A claims process is described along with exclusions like suicide within 2 years and high risk activities.
Explore the ManipalCigna Lifestyle Protection - Critical Care Prospectus to understand the features and coverage options of the Critical Illness Insurance Policy. Choose between Basic and Enhanced plans offering coverage for a range of critical illnesses, including cancer, heart attack, stroke, organ failure, and more.
Kanoe India Healthcare, A division Of Kanoe Softwares proposes a special Medical insurance plan sponsored by Universal Sompo General insurance Co. Limited in joint venture with Allahabad Bank Limited, Indian Overseas Bank, Karnataka Bank Limited, Dabur Investments Corp and Sompo Japan Insurance Incorporation in Public Private Partnership (PPP), aiming to provide assurance of Government/Public sector and superb, hassle free service from private bodies.
This document summarizes Section 45 of the Insurance Act of 1938 as amended in 2015, which governs when an insurance policy can be called into question. It states that a policy cannot be called into question for any reason after 3 years except in cases of fraud. For fraud, a policy can be questioned within 3 years. It also defines fraud and outlines the process for an insurer to repudiate a policy within the 3 year period.
The document summarizes Section 45 of the Insurance Act, 1938 regarding provisions on when a life insurance policy cannot be called into question. It lists 9 key points:
1. No policy can be questioned after 3 years on any grounds except fraud.
2. A policy can be questioned within 3 years for fraud. Fraud includes intentional misrepresentation or concealment.
3. Insurers cannot repudiate a policy if the insured can prove misrepresentation was unintentional and not meant to hide a material fact.
4. Policies can be questioned within 3 years if any statement materially affected risk expectations.
5. Premiums collected till repudiation must be paid within 90 days
The document provides information on individual disability income insurance products from The Standard. It describes The Protector+ policy which offers benefits such as guaranteed renewable coverage to age 66/67, a definition of total disability, waiver of premium if disabled, and optional riders for additional coverage like cost of living increases or a noncancelable option. It also briefly outlines a similar individual policy called The Protector.
The document discusses health insurance in India. It begins with a brief history of health insurance in India since 1947. It then defines health insurance and lists some key reasons for purchasing health insurance, such as preventing financial burden from medical costs and receiving tax benefits. The document also compares the differences between life insurance and health insurance. It outlines some common technical terms used in health insurance and describes the typical cycle of a health insurance claim. Finally, it discusses some popular health insurance products in India and highlights factors considered during the underwriting process.
The document provides details about the group health insurance program offered by Cactus Communications Pvt Ltd to its employees. It summarizes the key benefits of the insurance including family floater coverage of Rs. 4 lakhs, pre-existing ailment coverage from day one, waived waiting periods, maternity benefits, and cashless coverage at network hospitals. It also outlines the claims process, list of documents required for claims, and common exclusions under the policy. Frequently asked questions are answered to help employees better understand the scope of coverage offered by the insurance.
Topic 8 – Risk Management & Insurance
BAFI 1016 Personal Wealth Management
Introduction A financial plan must take into account the possibility of risks such as disability and premature death may occur and aim to:
Eliminate them, or
Minimise their effectA systematic approach should be taken to identify and manage these risks
Risk
Speculative riskArises where there is a chance of a loss or a gainExamples:
Gambling; Once the bet is placed, there can only be a win or a loss
Setting up a business; The business will succeed or fail
Risk continued
Pure riskArises where there is only a
possibility of loss or no lossCategories of pure risk
Personal
Property and (see next slide)
Risk continued
Liability
Common law – e.g. negligence
Statute law – e.g. faulty product
Contract – e.g. construction
Risk Management
Risk management process can be divided into 3 broad steps:
1. Identification and evaluation of potential risks
Identify possible losses and their costs
Risk Management continued
2. Management of identified risks
Seek to avoid and minimise risks
3. Program review
Regularly reassess to ensure ongoing protection
Personal Risk Management
1. Identification
Premature death
Prolonged illness or injury
Medical costs
Business risks
Personal Risk Management continued
2. Evaluation of personal risks
a. Lump sum costs in the event of premature death include:
Burial and associated expenses
Estate administration costs
Final medical and associated care
Debt clearing
Adjustment expenses
Personal Risk Management continued
b. Provision for dependents
The multiple approach
- Relatively simple to calculate
- Ignores individual resources and
commitments
- Assumes constant resources and
inflation
Personal Risk Management continued
The needs approach
- Requires relatively detailed dynamic budgeted information necessitating reassessment from time to time
c. Disablement costs can include:
Medical expenses
Other costs associated with the disability
Provision of an income to support
any dependants
Personal Risk Management continued
3. Control measures
Lifestyle factors such as fitness, diet, smoking and alcohol.
4. Financing measures
Retention: losses met from
individual’s own resources or via insurance excess
Transfer: financial responsibility
passed to another party – typically via insurance
House and Contents Risk Management
1. Identification
e.g. fire, storm, water damage, burglary, impact by vehicles and earthquake
2. Evaluation
Value only considered for building and contents as land will always remain
3. Control measures
Smoke detectors, burglar alarms, deadlocks etc
House and Contents Risk Management continued
4. Financing measures
Adequate insurance
Replacement value
Indemnity value
Consider value of contents
Consider impacts of a ‘co-insurance or average clause’ which seeks to pass on some of the financial impacts of underinsurance to insured
House and Contents Risk Management continuedExa ...
Insurance products 2 ( General Insurance)Rohit Kumar
General Insurance refers to non-life insurance that covers risks other than death, such as home, auto, commercial risks. It is also called property and casualty insurance. General insurance policies are formed through an offer and acceptance process, where the insured pays a premium in exchange for the insurer's promise to provide indemnity. Common types of general insurance include health, liability, motor, marine, and property insurance. Health insurance covers medical costs, while liability insurance covers legal responsibilities. Motor insurance covers car risks, and marine insurance covers shipments. Property insurance protects homes and possessions.
Assignment 7, Chapter 15 NAME _______________________________
FIN 3610
1. a. Explain the various definitions of disability that are found in disability-income insurance. Not sure about the answer
The definition of total disability is stated in the policy. There are several definitions of total disability:
(1) Inability to perform all duties of the insured’s own occupation
(2) Most insurers today use amodified own occupationdefinition of total disability. Because of injury or sickness, you are unable to perform the material and substantial duties of your own occupation, and are not engaged in any other occupation.
(3) Inability to perform the duties of any occupation for which the insured is reasonably fitted by education, training, and experience
(4) Inability to perform the duties of any gainful occupation
(5) Loss-of-income test in some companies
Some individual disability income policies have a two-part definition. For some initial period of disability, such as two to five years, total disability is defined in terms of your own occupation. After the initial period of disability expires, the any occupation definition of disability is applied.
b. Briefly explain the following disability-income insurance provisions: Residual disability, Benefit period, Elimination period, Waiver of premium. Not sure about the answer
(1) Residual disability means that a pro rata disability benefit is paid to an insured whose earned income is reduced because of an accident or sickness.
(2) The benefit period is the length of time that disability benefits are payable after the elimination period is met.
(3) An elimination period is a waiting period during which time benefits are not paid. Insurers offer a range of benefit periods, such as 30, 60, 90, 180, or 365 days.
(4) Most policies include a waiver-of-premium provision. The insured must meet the definition of disability stated in the policy. If the insured is totally disabled for 90 days, future premiums will be waived as long as the insured remains disabled.
2. Identify five major provisions of the Affordable Care Act that will have an impact on individuals and families. Document your source and attach a copy of your information.
Need plz Document your source and attach a copy of your information.
Plz look for website about these info.
Provisions in the Affordable Care Act that will affect individuals and families include the following:
Individual mandate. Beginning in 2014, most citizens in the United States and legal residents must have qualifying health insurance or pay a financial penalty.
Preexisting conditions exclusions prohibited. Children under age 19 with a preexisting condition cannot be denied coverage or rated up because of a preexisting condition. Beginning in 2014, adults cannot be denied coverage or rated up because of a preexisting condition.
Retention of coverage until age 26. The new law allows young adults to remain on their parents’ policy until age 26.
Guaranteed acces ...
This document provides information about life insurance policies in India. It discusses different types of life insurance policies like term insurance, whole life insurance, endowment policies, money back plans, children's policies, annuity plans, and unit linked insurance plans. It also answers frequently asked questions about life insurance policies, including how premiums, surrender values, and claims are calculated for conventional and unit linked policies. The document aims to educate policyholders about various aspects of life insurance.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
This document summarizes an HDFC ERGO Health Suraksha Top Up Plus insurance plan. Key points include:
- It provides additional health insurance coverage once a deductible amount is exceeded from claims in a policy year.
- Coverage includes hospitalization, pre-and-post hospitalization, day care procedures, domiciliary treatment and organ donor expenses.
- There are eligibility criteria for individuals and families to be covered on individual or floater basis.
- Premiums vary based on sum insured, deductible amount, age and number of family members covered.
Securing one's family's future is the document writer's top priority. The ICICI Pru iCare II plan allows one to protect their family financially even in the event of one's unfortunate death. The plan offers flexibility to choose coverage amounts and payment options. It provides a death benefit equal to the chosen sum assured, and an additional accidental death benefit up to Rs. 50 lakhs. The plan aims to ensure one's family is financially secure and comfortable without worries, even in one's absence.
This document provides an overview of insurance planning and various insurance concepts. It discusses risk and risk management, the concept of insurance, principles of insurance including utmost good faith, insurable interest, and indemnity. It also covers types of insurance policies for life and general insurance, products, tax benefits, underwriting, and claims processes. Key terms related to insurance are defined throughout the document.
Kotak Health Shield Brochure Feb 2022.pdfviralAgarwal
The document provides information about the Kotak Health Shield insurance plan, which offers financial protection for critical illnesses like cancer, cardiac issues, liver disease, neurological conditions, and accidents. The summary plan provides lump sum payouts for diagnosis of early or major stages of covered critical illnesses. It also offers benefits like waiver of premium, daily hospital cash, and income benefit as optional riders. The document explains the various plan options available under the policy and details of the payouts under each plan for minor and major illnesses or conditions.
More Health Insurance Policy Wording by Reliance Health Insurance. MORE as a product primarily aims in making make health insurance Easy-to-choose, Easy-to-buy and Easy-to-use.
Buy here: https://www.reliancehealthinsurance.com/buy-health-insurance-plans-online.html
The document discusses various types of insurance, including life, general, health, and property insurance. It provides definitions and classifications of insurance, explains concepts like premiums and insurers, and gives examples of specific insurance policies and plans like health, home, and renter's insurance. Key details covered include classifications of insurance, definitions of terms, common policy elements and exclusions, health insurance initiatives and schemes in India, and importance of property and health insurance.
This document outlines the terms and conditions of a life insurance policy that provides funeral services instead of cash payments upon the death of insured individuals. Key details include:
- The policy covers up to 12 lives with minimum and maximum entry ages depending on the relationship to the primary insured.
- There are 8 packages that determine the value of funeral services provided, ranging from GHS10,000 to GHS100,000.
- Core services like funeral arranging and mortuary services make up at least 70% of the package value.
- A claims process is described along with exclusions like suicide within 2 years and high risk activities.
Explore the ManipalCigna Lifestyle Protection - Critical Care Prospectus to understand the features and coverage options of the Critical Illness Insurance Policy. Choose between Basic and Enhanced plans offering coverage for a range of critical illnesses, including cancer, heart attack, stroke, organ failure, and more.
Kanoe India Healthcare, A division Of Kanoe Softwares proposes a special Medical insurance plan sponsored by Universal Sompo General insurance Co. Limited in joint venture with Allahabad Bank Limited, Indian Overseas Bank, Karnataka Bank Limited, Dabur Investments Corp and Sompo Japan Insurance Incorporation in Public Private Partnership (PPP), aiming to provide assurance of Government/Public sector and superb, hassle free service from private bodies.
This document summarizes Section 45 of the Insurance Act of 1938 as amended in 2015, which governs when an insurance policy can be called into question. It states that a policy cannot be called into question for any reason after 3 years except in cases of fraud. For fraud, a policy can be questioned within 3 years. It also defines fraud and outlines the process for an insurer to repudiate a policy within the 3 year period.
The document summarizes Section 45 of the Insurance Act, 1938 regarding provisions on when a life insurance policy cannot be called into question. It lists 9 key points:
1. No policy can be questioned after 3 years on any grounds except fraud.
2. A policy can be questioned within 3 years for fraud. Fraud includes intentional misrepresentation or concealment.
3. Insurers cannot repudiate a policy if the insured can prove misrepresentation was unintentional and not meant to hide a material fact.
4. Policies can be questioned within 3 years if any statement materially affected risk expectations.
5. Premiums collected till repudiation must be paid within 90 days
The document provides information on individual disability income insurance products from The Standard. It describes The Protector+ policy which offers benefits such as guaranteed renewable coverage to age 66/67, a definition of total disability, waiver of premium if disabled, and optional riders for additional coverage like cost of living increases or a noncancelable option. It also briefly outlines a similar individual policy called The Protector.
The document discusses health insurance in India. It begins with a brief history of health insurance in India since 1947. It then defines health insurance and lists some key reasons for purchasing health insurance, such as preventing financial burden from medical costs and receiving tax benefits. The document also compares the differences between life insurance and health insurance. It outlines some common technical terms used in health insurance and describes the typical cycle of a health insurance claim. Finally, it discusses some popular health insurance products in India and highlights factors considered during the underwriting process.
The document provides details about the group health insurance program offered by Cactus Communications Pvt Ltd to its employees. It summarizes the key benefits of the insurance including family floater coverage of Rs. 4 lakhs, pre-existing ailment coverage from day one, waived waiting periods, maternity benefits, and cashless coverage at network hospitals. It also outlines the claims process, list of documents required for claims, and common exclusions under the policy. Frequently asked questions are answered to help employees better understand the scope of coverage offered by the insurance.
Topic 8 – Risk Management & Insurance
BAFI 1016 Personal Wealth Management
Introduction A financial plan must take into account the possibility of risks such as disability and premature death may occur and aim to:
Eliminate them, or
Minimise their effectA systematic approach should be taken to identify and manage these risks
Risk
Speculative riskArises where there is a chance of a loss or a gainExamples:
Gambling; Once the bet is placed, there can only be a win or a loss
Setting up a business; The business will succeed or fail
Risk continued
Pure riskArises where there is only a
possibility of loss or no lossCategories of pure risk
Personal
Property and (see next slide)
Risk continued
Liability
Common law – e.g. negligence
Statute law – e.g. faulty product
Contract – e.g. construction
Risk Management
Risk management process can be divided into 3 broad steps:
1. Identification and evaluation of potential risks
Identify possible losses and their costs
Risk Management continued
2. Management of identified risks
Seek to avoid and minimise risks
3. Program review
Regularly reassess to ensure ongoing protection
Personal Risk Management
1. Identification
Premature death
Prolonged illness or injury
Medical costs
Business risks
Personal Risk Management continued
2. Evaluation of personal risks
a. Lump sum costs in the event of premature death include:
Burial and associated expenses
Estate administration costs
Final medical and associated care
Debt clearing
Adjustment expenses
Personal Risk Management continued
b. Provision for dependents
The multiple approach
- Relatively simple to calculate
- Ignores individual resources and
commitments
- Assumes constant resources and
inflation
Personal Risk Management continued
The needs approach
- Requires relatively detailed dynamic budgeted information necessitating reassessment from time to time
c. Disablement costs can include:
Medical expenses
Other costs associated with the disability
Provision of an income to support
any dependants
Personal Risk Management continued
3. Control measures
Lifestyle factors such as fitness, diet, smoking and alcohol.
4. Financing measures
Retention: losses met from
individual’s own resources or via insurance excess
Transfer: financial responsibility
passed to another party – typically via insurance
House and Contents Risk Management
1. Identification
e.g. fire, storm, water damage, burglary, impact by vehicles and earthquake
2. Evaluation
Value only considered for building and contents as land will always remain
3. Control measures
Smoke detectors, burglar alarms, deadlocks etc
House and Contents Risk Management continued
4. Financing measures
Adequate insurance
Replacement value
Indemnity value
Consider value of contents
Consider impacts of a ‘co-insurance or average clause’ which seeks to pass on some of the financial impacts of underinsurance to insured
House and Contents Risk Management continuedExa ...
Insurance products 2 ( General Insurance)Rohit Kumar
General Insurance refers to non-life insurance that covers risks other than death, such as home, auto, commercial risks. It is also called property and casualty insurance. General insurance policies are formed through an offer and acceptance process, where the insured pays a premium in exchange for the insurer's promise to provide indemnity. Common types of general insurance include health, liability, motor, marine, and property insurance. Health insurance covers medical costs, while liability insurance covers legal responsibilities. Motor insurance covers car risks, and marine insurance covers shipments. Property insurance protects homes and possessions.
Assignment 7, Chapter 15 NAME _______________________________
FIN 3610
1. a. Explain the various definitions of disability that are found in disability-income insurance. Not sure about the answer
The definition of total disability is stated in the policy. There are several definitions of total disability:
(1) Inability to perform all duties of the insured’s own occupation
(2) Most insurers today use amodified own occupationdefinition of total disability. Because of injury or sickness, you are unable to perform the material and substantial duties of your own occupation, and are not engaged in any other occupation.
(3) Inability to perform the duties of any occupation for which the insured is reasonably fitted by education, training, and experience
(4) Inability to perform the duties of any gainful occupation
(5) Loss-of-income test in some companies
Some individual disability income policies have a two-part definition. For some initial period of disability, such as two to five years, total disability is defined in terms of your own occupation. After the initial period of disability expires, the any occupation definition of disability is applied.
b. Briefly explain the following disability-income insurance provisions: Residual disability, Benefit period, Elimination period, Waiver of premium. Not sure about the answer
(1) Residual disability means that a pro rata disability benefit is paid to an insured whose earned income is reduced because of an accident or sickness.
(2) The benefit period is the length of time that disability benefits are payable after the elimination period is met.
(3) An elimination period is a waiting period during which time benefits are not paid. Insurers offer a range of benefit periods, such as 30, 60, 90, 180, or 365 days.
(4) Most policies include a waiver-of-premium provision. The insured must meet the definition of disability stated in the policy. If the insured is totally disabled for 90 days, future premiums will be waived as long as the insured remains disabled.
2. Identify five major provisions of the Affordable Care Act that will have an impact on individuals and families. Document your source and attach a copy of your information.
Need plz Document your source and attach a copy of your information.
Plz look for website about these info.
Provisions in the Affordable Care Act that will affect individuals and families include the following:
Individual mandate. Beginning in 2014, most citizens in the United States and legal residents must have qualifying health insurance or pay a financial penalty.
Preexisting conditions exclusions prohibited. Children under age 19 with a preexisting condition cannot be denied coverage or rated up because of a preexisting condition. Beginning in 2014, adults cannot be denied coverage or rated up because of a preexisting condition.
Retention of coverage until age 26. The new law allows young adults to remain on their parents’ policy until age 26.
Guaranteed acces ...
This document provides information about life insurance policies in India. It discusses different types of life insurance policies like term insurance, whole life insurance, endowment policies, money back plans, children's policies, annuity plans, and unit linked insurance plans. It also answers frequently asked questions about life insurance policies, including how premiums, surrender values, and claims are calculated for conventional and unit linked policies. The document aims to educate policyholders about various aspects of life insurance.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
2. Unforeseen medical expenses tend to burn a hole in our pockets & eat into our savings. The cost of
medical procedures & treatments are rising at an alarming rate, medical inflation being more than
general inflation.
Gone are the days when critical illnesses like heart attack, cancer etc. were rarely heard of. So how does
one shield against such unforeseen expenses and make sure that there is no compromise on the quality
of healthcare?
Kotak Secure Shield is a Benefit Product designed keeping this in mind to shield you & your family
against such adversities and provide a financial cushion.
You can opt for critical illness, personal accident and / or Loss of Job Benefit (due to illness / accident).
Key Benefits of
Kotak Secure Shield
Free look period
We understand that buying a health insurance policy is an important decision, hence
we allow you a free look period of 15 days to familiarize yourself with the policy features
& details. You can choose to cancel the policy within 15 days of receipt of the policy
document, if you are not satisfied.
3
Income tax benefit*
Avail tax benefits on the premium paid towards Critical Illness section of your policy
under Section 80D of the Income Tax Act, 1961.
`
Flexible policy period of 1 to 3 years
Choose from a flexible policy period of 1 to 3 years depending on your convenience.
You can renew your policy at the end of every policy period chosen.
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2 3
Loss of Job Benefit (due to illness / accident)
Loss of Job Benefit (due to illness / accident) is applicable for loan linked policies taken
by Salaried persons.
Child Education Benefit
An extension of the Personal Accident Benefit, ensures that a child’s future is not
financially impacted as a result of accidental death or permanent total disability of the
insured parent.
Personal Accident Benefit
The policy provides financial stability for the family in case of death of the insured due to
an accident or permanent total disability.
Critical Illness Benefit
Provides financial cushion by paying a onetime Sum Insured covering 18 types of critical
illnesses, procedures & medical events.
Are you prepared?
3. Critical Illness Benefit
First diagnosis of the below-mentioned Illnesses:
a. Cancer of specified severity
b. Kidney failure requiring regular dialysis
c. Multiple Sclerosis with persisting symptoms
d. Motor Neurone Disease with Permanent Symptoms
e. Benign Brain Tumor
f. Primary (Idiopathic) Pulmonary Hypertension
g. End Stage Liver Failure
Undergoing for the first time of the following surgical procedures:
Occurrence for the first time of the following medical events:
h. Major Organ / Bone Marrow Transplant
i. Open heart replacement or repair of heart valves
j. Open chest CABG
k. Aorta Graft Surgery
l. Coma of Specified Severity
m. Stroke resulting in permanent symptoms
n. Permanent Paralysis of Limbs
o. Myocardial Infarction (First Heart Attack of specific severity)
p. Third Degree Burns
q. Deafness
r. Loss of Speech
4. Entry Age Minimum 18 years & Maximum 65 years
Life long renewals allowed
1, 2 & 3 years
30 days for renewals
Renewal Age
Policy Period
Grace Period
Age Band
18-25 18-25
1 2 3
2,879 4,125
4,511
5,476
6,634
12,376
21,061
31,290
50,783
75,197
3,120
3,747
4,471
8,090
13,976
21,407
34,675
51,322
1,391 2,782 5,757 8,250
9,022
10,952
13,268
24,751
42,121
62,579
101,565
150,394
6,240
7,494
8,942
16,179
27,952
42,813
69,351
102,643
1,488
1,825
2,115
3,659
6,554
10,028
16,204
23,972
26-30 26-30
31-35 31-35
36-40 36-40
41-45 41-45
46-50 46-50
51-55 51-55
56-60 56-60
61-65 61-65
Policy Period
Age Band
Policy Period
Sum Insured - `5 Lacs
Child Education Benefit - `50,000
Sum Insured - `10 Lacs
Child Education Benefit - `100,000
Coverage, Sum Insured and Premium illustration table for non-loan linked
customers for(Critical Illness + Personal Accident and Child Education Benefit)
Sum Insured and Premium Details
`
Eligibility
All Premium exclusive of applicable taxes.
1 2 3
2,975
3,651
4,230
7,318
13,108
20,056
32,408
47,944
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5. It is important to understand the exclusions not covered under the policy to avoid any inconvenience in
the event of a claim. Following are some of the general exclusions under this policy. A complete list of
exclusions can be found in the Policy Wordings on our website www.kotak insurance.com.
general
Any Pre-existing Diseases will not be covered for a period of 48 months of continuous coverage
under the policy
First occurrence of any medical condition or event within 90 days of policy commencement
Any claim arising or resulting from Insured Person committing any breach of the law with
a criminal intent.
War, invasion, act of foreign enemy, hostilities (whether war be declared or not) civil war,
rebellion, revolution, insurrection, mutiny, military or usurped power, seizure, capture, arrests,
restraints and detainment of all Heads of State and citizens of whatever nation and of all kinds
and acts of terrorism.
Ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear
waste or from the combustion of nuclear fuel. For the purpose of this exclusion, combustion
shall include any self-sustaining process of nuclear fission. Nuclear weapon materials.
Usage, consumption or abuse of substances intoxicants, hallucinogens, alcohol and/or drugs.
Self-destruction or self inflicted injury, attempted suicide or suicide.
Any consequential or indirect loss or expenses arising out of or related to any event giving rise to
a Claim under the Policy.
While serving in any branch of the Military or Armed Forces of any country during war or warlike
operations.
Any act of terrorism regardless of any other cause or event contributing concurrently or in any
other sequence to the loss. The Policy also excludes loss, damage, cost or expenses of
whatsoever nature directly or indirectly caused by, resulting from or in connection with any
action taken in controlling, preventing, suppressing or in any way relating to action taken in
respect of any act of terrorism.
Policy Exclusions
6. How to claim?
Kotak Mahindra General Insurance Company Ltd.
Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 4000051. Maharashtra, India.
CIN: U66000MH2014PLC260291. IRDAI Reg. No. 152.
The advertisement contains only an indication of covers offered. For more details on risk factors, terms, conditions and exclusions, please
read the policy document carefully before concluding a sale. Taxes will be charged extra as per the applicable rates. Trade logo displayed
above belongs to Kotak Mahindra Bank Ltd. and is used by Kotak Mahindra General Insurance Company Ltd. under license. *Tax benefit
u/s 80D of the Income Tax Act, 1961 mentioned herein is subject to the fulfillment of conditions mentioned in Income Tax Act. Please
consult your tax advisor for details. #Additional 1% Kerala flood cess on the premium (excluding GST) shall be levied in the state of Kerala
as per the Kerala Finance Act, 2019 and the Kerala Flood Cess Rules, 2019.
ARN: KGI/20-21/II/P-BR/865. KOTAK SECURE SHIELD UIN: KOTHLIP21350V042021.
Statutory warning: Section 41 of the Insurance Act, 1938 states
1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an
insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable
or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any
rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.
2) Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to `1,000,000/-
Critical Illness Claims
Intimate us in writing within 10 days of first occurrence/diagnosis of a Critical Illness.
Submit all relevant documents* related to claim within 30 days.
Personal Accident Claims
Intimate us in writing within 7 days of any injury due to an accident which is likely to give rise to a claim.
Submit all relevant documents* related to claim within 30 days.
Loss of Job Benefit (due to illness / accident) Claims
Intimate us in writing along with the necessary information & documentation* within 30 days of the
Insured Person’s termination, temporary suspension from employment.
For a complete list of documentation required for claim settlement,
please refer to the Policy Wordings on our website www.kotak insurance.com.
general
1800 266 4545 care@kotak.com kotakgeneralinsurance.com
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