Derive The Most Out Of These 5 Lesser Known Insurances

By:B2B Desk 2018-08-31

Insurance is an agreement with the help of which the company or state assures and guarantees to give a compensation for a loss of some specified belonging of any individual or the damage or illness or the death by paying a premium in return. 

Now a question arises as to what is it that you can insure? One get almost anything and everything insured against some eventuality. Accidents come unannounced, don't they? A wise man takes care of his family in every possible way. It is always wise to get a thing or some belonging of a person which is prone to damage or wear and tear insured so that he can derive some benefit out of it which will prove to be beneficial for the family of the person!

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Insurance Benefits You Little Did Know About

Did you know that there are insurance covers which come with the air tickets? These covers make the airline companies totally liable to pay all the compensation for any kind of loss or damage that may be caused to the luggage or other belongings of a person due to the fault of the aviation company. Interesting isn't it? There are a large number of insurance benefits that we can enjoy which were barely aware of. Discussed in this article are some of the lesser known insurances covers that we can claim.

Insurance Covers For Gas Cylinder Accidents

This, however, doesn't imply to all the members of the victim’s family! If death occurs in the family due to a gas cylinder, then the kin of the dead person will have to make an appeal in court for the compensation. The court then decides the amount based on the age and family income of the victim and other conditions. 

Insurance Covers For Deposits In Bank

With the size of the cover-up to 1 lakh, there are insurance covers for the bank deposits as well. How satisfactory it is to know that the money that a person deposits in the bank is insured! Now a question arises that by whom is this cover offered? It is the Deposit Insurance and Credit Guarantee Corporation which is a subsidiary of RBI that offers this cover. The principal amount and the interest of the depositor are secured and insured up to 1 lakh in case that the bank is not able to pay the money back which may happen because of liquidation or in case that the license is canceled.

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Insurance Covers On Mobiles

The cover size on the insurance covers on mobiles depends on the model of the phone. This cover is, however, is confined only to the cases of burglary or any accidental damage. You see what joys this little box of happiness can bring?

Insurance Covers With The Company Deposits

Under this, it is obligatory for the companies to buy cover worth up to 20,000 for the corporate deposits otherwise they will be subject to fine. Woosh!

Insurance Covers On Air Travel

These days it is also easy to get your entire luggage and your life on board insured so that any damage incurred to them by the company in due course of the flight is entitled to some compensation.

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