Non-life insurance refers to bearing the customer's risk against insurance premiums. Non-life Insurance pre-tax earnings consist of the balance on technical account, investment income and other income and expenses. The balance on technical account comes from insurance premium revenue less claims incurred and operating expenses.
The most important profitability indicator is the combined ratio showing the proportion of claims incurred and operating expenses to insurance premium revenue. Non-life insurance profitability is secured, for example, by risk-based premium rating, proactive loss prevention, reinsurance on the greatest individual risks and efficient claims settlement.
With respect to investment operations, Non-life Insurance is tasked with investing assets covering technical provisions and equity in a safe and profitable way conducting a policy of sufficient risk diversification
Health insurance is a must for you and for every member of your family. In return for premiums you have the satisfaction that god forbid, there is an accident or an illness in the family, you have help from the health insurance plan in paying the expensive hospital bills.
These days we take insurance for the house at the time we buy it.
People have also started insuring household goods and we have been insuring our cars for quite some time now. But what about the most important asset of all our health? Because all the riches and luxuries are worth naught if you don't have the health to enjoy them.Health insurance is a must for you and for every member of your family. In return for premiums you have the satisfaction that god forbid, there is an accident or an illness in the family, you have help from the health insurance plan in paying the expensive hospital bills.
A simple operation requiring an overnite stay at the hospital can make you poorer by Rs.50, 000 to a lakh and the complicated ones cost far more. This can cause quite a dent in your savings if you have to use your own funds.
Often some other goals for which you were saving and investing would need to be adjusted, postponed or even cancelled. You may be covered by a company plan but with austerity measures kicking in, this is not an option to be banked on. Moreover you are most likely not going to stay with the same company for the rest of your working life. What if the next company you move to doesn't have adequate health cover; or you and your spouse are covered but not other members of your family?
A decent health plan for yourself and every member of your family taken independent of your company or your spouse's company is a good precaution and addon to company provided health plan. It ensures that your assets are protected from the risk of any illhealth or accident in the family.
Customer is the king now with many variation and combinations being launched in this space, especially by private insurers. Take advantage of this and take at the very least a floater plan of Rs.3 lacs to Rs.5 lacs that covers all the members of your family.
Why Should Everyone Get Health Insurance?
• People fall sick time and again. It is not always possible to stay away from illness. Despite going to the gym or for walks, and following a healthy diet and healthcare routine, they cannot always remain away from healthcare problem. Even when people do not drink, smoke, or chew tobacco, they have the chance of contracting mouth cancer (which most believe affect only those who chew tobacco). Similarly, although there may be higher chances of obese persons suffering heart diseases, a thin and skinny person may also get a heart attack.
• The prime motive for people who follow a religious workout routine and go to the gym is to live fit and healthy lives. Just imagine the condition of an individual who has taken all the steps required to remain healthy but still falls sick. The thought itself is scary. A worse thought is not having the money needed to get the needed medical attention. This is where the medical policy can take care of the expenses incurred while the policy holder focuses on the treatment.
• Making an investment in a mediclaim policy is the best means to make certain that your health is secured at all times. A mediclaim plan enables folks to get treatment without having to pay the medical expenses out-of-pocket. Despite all other preventions that are adopted by individuals, they remain vulnerable to falling ill and the hence need for always having a medical policy ensues. When the time comes, people can use the plan to get treated without facing any monetary drawbacks.
• Most individuals have a tough time understanding how a medical policy would enable them to live healthy. Can you imagine the relief you would get if you did not have to deal with healthcare expenses? This is the simple reality of why health insurance makes life more peaceful and easy-going. There is no need for people to get worked up thinking about coping with healthcare costs. There are in fact, many health insurance plans that actually encourage the individual to keep a check on their health by providing coverage for medical check-ups.
• It has been proven through a number of studies that a person who has health insurance is much healthier than a person who does not have one. Since the former has no need to worry about steep healthcare costs, whenever they fall ill, they get treated immediately. Even if the policy holder does not use the plan, it is still useful in that health insurance gives tax benefits to the person buying the plan and bonuses for not using it!
Home, Factory, office Insurance
Fire and Theft Insurance