Insurance Policy Definition Money
A money back policy is a more complex life insurance policy than a term plan or a standard life insurance cover that pays the sum assured to the insured party on maturity.
Insurance policy definition money. Insurance is a means of protection from financial loss. The policy describes the specific types of coverage life health etc. The money insurance covers the loss of your money whilst in transit and whilst in the premise. It is an endowment plan with the benefit of liquidity.
Money means and includes cash bank drafts currency notes treasury totes cheques postal orders and current postage stamps. An entity which provides insurance is known as an insurer insurance company insurance carrier or underwriter a person or entity who buys insurance is known as an insured or as a policyholder. It provides certain amounts called survival benefits in addition to the sum assured and a bonus from the insurance company based on its performance. A clause in an insurance policy that indicates that the insurer will only cover the least expensive option for treatment repair or remediation.
91 033 4401 7304 7477 f. Insurance policy the contents of an insurance contract. It is a form of risk management primarily used to hedge against the risk of a contingent or uncertain loss. Transit of collections with stopover.
Insurance policy a contract detailing an insurance policy and outlining what risks are insured what insurance premiums are to be paid by the policyholder what deductibles prevail and all the details associated with a policy. Direct transit of collections. Money insurance policy whereas the insured named in the schedule hereto has made to l t general insurance company ltd hereinafter called the company a written proposal by completing a proposal form which together with any other statements made in writing by the insured for the purpose of this policy is deemed to be incorporated herein. Magma hdi general insurance company limited regd.
In a money back plan the insured person gets a percentage of sum assured at regular intervals instead of getting the lump sum amount at the end of the term. Insurance money definition meaning english dictionary synonym see also insurance insurance policy accident insurance fire insurance reverso dictionary. Transit of earnings wages and petty cash. This policy is suitable for risk averse individuals who wish to save through an insurance plan and.
Loss of money in transit by the insured or the insured s authorized employee s occasioned by robbery theft or any other fortuitous cause. 24 park street kolkata 700 016 p.
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