Insurance And Financial Services

Our philosophy is to be the leading company with the service above par, with integrity, excellence and professionalism. While it is a good idea to make sure you are not paying for insurance that you don’t need, you should always think about what would happen if disaster struck and you didn’t have cover to protect you. Whether you’re new to insurance or need to brush up on your coverage options, we’re here to help get you in the know. It’s our mission to make insurance simple and straightforward — so you’re confident in all your insurance decisions.

Insurance Consultants

On approval of the claim, a letter is sent to the insured giving the approved amount of settlement along with the discharge voucher. Provide relevant information, which includes your policy number and other details regarding your claim. EFU is committed to the highest standards of corporate governance, business integrity and professionalism in all its activities. An insurer will take two important factors into account when working out the premium they will charge.

The premium is determined by the insurer based on your or your business's risk profile, which may include creditworthiness. There are also insurance policies available for very specific needs, such as kidnap and ransom (K&R), medical malpractice, and professional liability insurance, also known as errors and omissions insurance. Policies issued by American General Life Insurance Company , Houston, TX, except in New York, where issued by The United States Life Insurance Company in the City of New York . Issuing companies AGL and US Life are responsible for financial obligations of insurance products and are members of American International Group, Inc. .

However, since about 1996 insurers have begun to take a more active role in loss mitigation, such as through building codes. If the Insured has a "reimbursement" policy, the insured can be required to pay for a loss and then be "reimbursed" by the insurance carrier for the loss and out of pocket costs including, with the permission of the insurer, claim expenses. Insurance involves pooling funds from many insured entities to pay for the losses that some may incur. The insured entities are therefore protected from risk for a fee, with the fee being dependent upon the frequency and severity of the event occurring.

It usually insures a business for losses caused by the dishonest acts of its employees. Terrorism insurance provides protection against any loss or damage caused by terrorist activities. In the United States in the wake of 9/11, the Terrorism Risk Insurance Act set up a federal program providing a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism. The program was extended until the end of 2014 by the Terrorism Risk Insurance Program Reauthorization Act 2007 . Auto insurance protects the policyholder against financial loss in the event of an incident involving a vehicle they own, such as in a traffic collision. Insurers may prohibit certain activities which are considered dangerous and therefore excluded from coverage.

Group Life & Pension Plans

Disability insurance policies provide financial support in the event of the policyholder becoming unable to work because of disabling illness or injury. It provides monthly support to help pay such obligations as mortgage loans and credit cards. Short-term and long-term disability policies are available to individuals, but considering the expense, long-term policies are generally obtained only by those with at least six-figure incomes, such as doctors, lawyers, etc. Short-term disability insurance covers a person for a period typically up to six months, paying a stipend each month to cover medical bills and other necessities.

You may contact the insurance company through telephone, email or by visiting the branch. It is highly recommended that you ask all the questions, when the insurance agent/ sales person visits you to provide information about the insurance policy. You should clear any confusion that you may have about the insurance product. Life insurance can offer a combination of protection and saving components, and the proportion of these components in an insurance product may vary depending on the product type and consumer needs and preferences.

Auto insurance is a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft. In exchange for your paying a premium, the insurance company agrees to pay your losses as outlined in your policy. In the United States, the tax on interest income on life insurance policies and annuities is generally deferred. However, in some cases the benefit derived from tax deferral may be offset by a low return.

Additional benefit of Home tenants free rent is provided Upto Rs.35,000 spread over 3 months if the premises is rendered uninhabitable as a result of damage by any of the insured perils. We are in the business of providing a full range of non-life insurance products and services customized to meet the varied needs of a wide spectrum of businesses and individuals. As the insurance sector has taken proactive measures upon the outbreak of COVID-19, PolicyBazaar is also offering Coronavirus term insurance and coronavirus health insurance. What if all the precision and expertise we associate with finely crafted things were applied to insurance? Glass Coverage provides coverage from windshield damage, which is common. Some auto policies include no-deductible glass coverage, which also includes side windows, rear windows and glass sunroofs.

Term Life Insurance

It covers your day-to-day costs and larger expenses like your mortgage while you focus on your health and recovery. Sign Up To be a forum of active exchange on matters relating to insurance. To promote, support and protect common interests of member companies carrying on the business of insurance in Pakistan and to endeavor to increase insurance awareness and penetration in the country. Say no to spending hours and days in queues doing the paperwork for your insurance policy. The entire process from selecting the best insurance policy to getting it issued takes just 5 minutes on InsuranceDekho. There must be some way to determine whether a loss has occurred and how great that loss is.

The insured must first pay the hospital expenses/consultant/doctor's fee/laboratory charges and cost of medicines on their own. Subsequently through your employer you need to submit these bills to IGI for reimbursement on periodical basis. At policy inception of cover, a Health Card is issued to each insured employee with essential information about the employee and his dependants with benefits available to them. Health Sure offers a managed care solution to corporate clients and organizations to provide healthcare needs backed by professional staff, financial strength and insurance experience accumulated over a period of fifty years. In Regular family plan the spouse is covered upto 65 years, and children from 1 month to 18 years. We will reimburse based on the maximum shown in the Schedule of Benefits, for the cost of replacement of the baggage and its contents.

When insured parties experience a loss for a specified peril, the coverage entitles the policyholder to make a claim against the insurer for the covered amount of loss as specified by the policy. The fee paid by the insured to the insurer for assuming the risk is called the premium. Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims – in theory for a relatively few claimants – and for overhead costs.