Tags |
|
|
Links |
|
|
Will You Add? - Understand Your Insurance Contract
Chances are you could be missing important business opportunities if your email Inbox utilizes a spam filter. Take a few minutes now to investigate your email screening procedures for messages received from unknown senders. You might even discover a new client hiding among the spam!Email inquiries from new business prospects, which by definition are unknown and unexpected when they arr
Doctrine of utmost good faith
This means that both the parties are expected to disclose any information, important to the contract. For example, when applying for life insurance, it is your duty to disclose any permanent ailments that you might have. Likewise, your insurer
Does a product that offers higher commissions means that it will be better for me to promote? This is the question that most affiliates will have when they are first starting out on affiliate marketing.Most of the affiliates will assume that the one that will gives them the highest commissions will be the best affiliate programs. This is not totally true at all. It is always nice to have
Your filling the proposal form and sending it to the insurance company is the ‘offer’ and when the insurance company accepts your proposal it is the ‘acceptance’ part of the concept. The amount you pay as premium is considered as the ‘consideration’ part of the contract. The concept of ‘legal capacity’ also applies to insurance contracts. It requires both the parties to be legally capable of entering a contract. Your insurance contract is based on ‘legal purpose’, which means that the contact is not meant for encouraging illegal activities. The other legal principles that govern the contracts are:
Principle of Indemnity:
This principle requires the insurer to pay an amount, not more than the actual loss suffered, in case of loss. The amount paid as claim by the insurance company should not be more than the sum assured in the insurance contract. The aim is to provide a claim amount that will help the claimant to regain the lost financial position. In some indemnity contracts, the amount payable by the insurance company is subject to the amount of actual loss. Some indemnity contracts also have a provision for the claim to be paid only if the actual loss exceeds a certain amount. For example, in an auto insurance contract of 3000 dollars, you would be eligible for the claim amount only if your actual loss exceeds 3000 dollars. In case, the actual loss amount is below 3000 dollars, you would be liable to bear all the costs.
Insurable Interest
In this insurance cover, the insurance contract covers only those properties or events specified at the time of investment. For example, if you live in your uncle’s house and apply for a homeowners’ insurance, the insurance company will reject the claim, since you are not the owner of the property and do not suffer any personal financial loss in case the house gets damaged.
Principle of Subrogation
The principle of subrogation enables the insured to claim the amount from the third party responsible for the loss. It allows the insurer to pursue legal methods to recover the amount of loss, which the company has paid the insured via the insurance claim. For example, if you get injured in a road accident, due to reckless driving of a third party, the insurance company will compensate your loss and will also sue the third party to recover the money paid as claim.
Doctrine of utmost good faith
This means that both the parties are expected to disclose any information, important to the contract. For example, when applying for life insurance, it is your duty to disclose any permanent ailments that you might have. Likewise, your insurer a
Every so often a Government Agency is so blatant in its shear and utter incompetence and waste of taxpayer’s money that it wins a prize. The Federal Trade Commission always seems to be at the top of my list. Perhaps you have considered such a list in your mind as well. Some agencies go around analyzing everything to death and in the end come up with what any ordinary observer of the situation c
Principle of Indemnity:
This principle requires the insurer to pay an amount, not more than the actual loss suffered, in case of loss. The amount paid as claim by the insurance company should not be more than the sum assured in the insurance contract. The aim is to provide a claim amount that will help the claimant to regain the lost financial position. In some indemnity contracts, the amount payable by the insurance company is subject to the amount of actual loss. Some indemnity contracts also have a provision for the claim to be paid only if the actual loss exceeds a certain amount. For example, in an auto insurance contract of 3000 dollars, you would be eligible for the claim amount only if your actual loss exceeds 3000 dollars. In case, the actual loss amount is below 3000 dollars, you would be liable to bear all the costs.
Insurable Interest
In this insurance cover, the insurance contract covers only those properties or events specified at the time of investment. For example, if you live in your uncle’s house and apply for a homeowners’ insurance, the insurance company will reject the claim, since you are not the owner of the property and do not suffer any personal financial loss in case the house gets damaged.
Principle of Subrogation
The principle of subrogation enables the insured to claim the amount from the third party responsible for the loss. It allows the insurer to pursue legal methods to recover the amount of loss, which the company has paid the insured via the insurance claim. For example, if you get injured in a road accident, due to reckless driving of a third party, the insurance company will compensate your loss and will also sue the third party to recover the money paid as claim.
Doctrine of utmost good faith
This means that both the parties are expected to disclose any information, important to the contract. For example, when applying for life insurance, it is your duty to disclose any permanent ailments that you might have. Likewise, your insurer
Web hosting is the method of putting a website on the Internet with the use of a server. Once a website has been placed on a server, people from all over the world who have access in the Internet will be able to view and visit the website anytime they want.Why is web hosting important? Web hosting is needed if a company or an individual would like to become visible on the Internet. Web h
Insurable Interest
In this insurance cover, the insurance contract covers only those properties or events specified at the time of investment. For example, if you live in your uncle’s house and apply for a homeowners’ insurance, the insurance company will reject the claim, since you are not the owner of the property and do not suffer any personal financial loss in case the house gets damaged.
Principle of Subrogation
The principle of subrogation enables the insured to claim the amount from the third party responsible for the loss. It allows the insurer to pursue legal methods to recover the amount of loss, which the company has paid the insured via the insurance claim. For example, if you get injured in a road accident, due to reckless driving of a third party, the insurance company will compensate your loss and will also sue the third party to recover the money paid as claim.
Doctrine of utmost good faith
This means that both the parties are expected to disclose any information, important to the contract. For example, when applying for life insurance, it is your duty to disclose any permanent ailments that you might have. Likewise, your insurer
Search Engine Optimization, optimizing your website for it to be visible in the search results of a search engine’s query or in a search result of a directory.Basically, SEO is a marketing strategy for your site. To be included in the top ten search results of an impressive search engine/directory guarantees a return of investment. Search Engine Optimization can be viewed as a new form o
Principle of Subrogation
The principle of subrogation enables the insured to claim the amount from the third party responsible for the loss. It allows the insurer to pursue legal methods to recover the amount of loss, which the company has paid the insured via the insurance claim. For example, if you get injured in a road accident, due to reckless driving of a third party, the insurance company will compensate your loss and will also sue the third party to recover the money paid as claim.
Doctrine of utmost good faith
This means that both the parties are expected to disclose any information, important to the contract. For example, when applying for life insurance, it is your duty to disclose any permanent ailments that you might have. Likewise, your insurer
Outsmart ThemCategory benefits are a poor substitute for brand meaning and brand definition. It is one of the major pratfalls in brand development and a trap into which many brands fall victim. Defining your brand by such benign promises is a sure fire bet to promote the market leader — not exactly what you have in mind when your goal is to grab market share and outsma
Doctrine of utmost good faith
This means that both the parties are expected to disclose any information, important to the contract. For example, when applying for life insurance, it is your duty to disclose any permanent ailments that you might have. Likewise, your insurer also is expected to be clear on the illnesses that are not covered under the contract.
Once you become familiar with the principles, you will be able to understand the scope of your insurance contract. This makes you independent of the insurance advisor.
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.atriclecheck.com/article/121116/atriclecheck-Understand-Your-Insurance-Contract.html">Understand Your Insurance Contract</a>
BB link (for phorums):
[url=http://www.atriclecheck.com/article/121116/atriclecheck-Understand-Your-Insurance-Contract.html]Understand Your Insurance Contract[/url]
Related Articles:
Web Directory Submission-Powerful Yet Under Utilized
Promoting Your Online Radio or Television Station
Bookmark it:
|