Life Insurance
What is Life Insurance?
Life insurance is a contract between an insured and a Life insurance company, where the insurance company pays a lump sum amount after a certain period or upon the death of the insured in exchange for the premium.
IMPORTANCE & BENEFITS
An untimely death is unfortunate and so are the financial liabilities that need to be borne by the family of the deceased. This affects not only the lifestyle of your dear ones but also hampers their future dreams. The best way to mitigate this risk is to cover oneself through a Life Insurance Plan.
The perks of buying a life insurance policy are beyond just protecting the policy holder’s family in tough times
Health Insurance
What is Health Insurance?
A Health insurance policy is a contract between the insurance company and the policyholder, wherein the insurer pays for the medical expenses incurred by the life insured. The insurer will either provide a reimbursement for your medical expenses or ensure you are eligible for cashless treatment for injuries or illnesses covered under the policy at one of the network hospitals.
IMPORTANCE
A Health cover protects against exorbitant hospitalization expenses in case of an illness or accident. Medical expenses are rising faster than the increase in disposable income and this is a cause of concern when one or one’s family is looking to medical treatment. A comprehensive health insurance with an adequate sum insured is an absolute must have for every individual.
Motor Insurance
What is Motor Insurance?
Motor vehicle insurance is the most important document for all vehicle owners/drivers. Its main objective is to give complete protection against physical damage or loss sustained by the insured vehicle from natural & man-made calamities. The policy ensures peace of mind & security on roads.
IMPORTANCE & BENEFITS
Travel Insurance
Why Do You Need It ?
Traveling has become an integral part of our modern society. We could be traveling for reasons like a business trip or much awaited vacation. But one cannot deny the fact that there are several things that could go wrong when one travels. Disruptions like cancellation of flights, loss of baggage, medical emergency- are some of the unforeseen events that could catch you off guard. So whether you are off to your favorite destination for a holiday or going on a business trip – an adequate & complete travel insurance is a must have.
Types of Travel Insurance
Fire Insurance
What is Fire Insurance ?
Fire insurance is property insurance covering damage and losses caused by fire. The purchase of fire insurance in addition to homeowner’s or property insurance helps to cover the cost of replacement, repair, or reconstruction of property, above the limit set by the property insurance policy. Fire insurance policies typically contain general exclusions, such as war, nuclear risks, and similar perils.
Fire Insurance Policy Coverage ?
Fire insurance covers a policyholder against fire loss or damage from many sources. Sources include fires brought about by electricity, such as faulty wiring and explosion of gas, as well as those caused by lightning and natural disasters. Bursting and overflowing of a water tank or pipes may also be covered by the policy.
If the home is considered a total loss, the insurance company may reimburse the owner for the current market value. Typically the insurance will offer a market value compensation for lost possessions, with the total payout capped based on the home’s overall value. For example, if a policy insures a house for $350,000, the contents are usually covered for at least 50-70% of the policy value, or $175,000 to $245,000. Many policies limit how much reimbursement is for luxury items such as paintings, jewellery, gold, and fur coats.
Marine Insurance
It is known that water transport is the best and most viable option when it comes to transferring heavy goods and cargo from one country to another. But for any transportation route, accidents and risks cannot be completely ruled out. Piracy or theft of goods has always been a major concern.
These situations cannot be completely avoided but by insuring your goods, cargo and any other important belongings you can save a lot of money on such damages and stay rest assured while your goods are in transit. At RV BIZSERVE, you can get the best marine insurance policy in India for your cargo ship that goes along with it.
We provide you with all marine insurance needs at one single stop starting from commercial marine insurance, import-export insurance, inland transit and container insurance. We make sure that our customers get the best deal for their insurance requirements.
Workmen Compensation
The Workmen Compensation Act, 1923 is an enactment that was issued by the tral Government and was implemented by various State Governments which gives social security to workers. This security is offered by the law for people who work.
The Act was formed after it was noted that laborers were getting more exposed to danger with the use of advanced and sophisticated machinery. The common law had it that the employer would only take up the compensation responsibility if it is found that the industrial accident was a result of his negligence. In India, the issue of compensating workmen after fatal and major accidents hit the road in 1884. It was then in 1885 that the factory and mining inspectors realized that the Fatal Accidents Act, 1885, was not enough to attend to the intended purposes.
The State offered a hearing ear when members of the Legislative Assembly, employers representatives, workers and experts in medicine and insurance formed a committee that gave a report that led to the enacting of the Workmen’s Compensation Act in 1923.
The passing of the Act put a stop and offered a relief for workers who would have gone through court processes that are often expensive, an effort to seek compensation whenever they acquired an injury during employment.
