Medi Claim

 In fire insurance, all 12 perils are already covered like a riot,  fire, inundation, stampede, flood, lightning, etc. While purchasing the fire policy we have to give the following details:- 1. Nature of business 2. Total Annual Turnover 3. Premises Details (including plinth and foundation) 4. Sum Assured requirement 5. Riders required 6. Electrical and Electronics utensils. 7. Plant and machinery. 8. Stocks 9. Fixtures. 10. Furniture etc All the above information is needed to capture our actual insurance required. Here we have to see which type of riders are needed by us. 1. If we have cash transactions in business then, a. Money in Safe b.Money in Transit c. Money in Drawer All the above riders are for cash transactions, we have to choose as per our requirement. Here at the time of inception of the policy or before issuance of policy we have to give a limit is Rs. per transit or money, we keep in a safe or drawer. 2  Burglary if our business requires. 3. Earth Quake 4....

 There is a difference in group mediclaim policy and individual or family floater policy. One is for corporate employees, other is for individual families. There are the following major differences between these two: 1. Coverage 2. Pre-existing decease 3. Sum Assured 4. Portability 5. Maternity 6. Parents 7. Time Frame. We will see all one by one  .In coverage only employees of a particular organization are added to GMC  while anyone or one with a family can take the policy in retail mediclaim. The employer bears the cost of insurance in GMC while the individual pays a premium for the policy. In GMC pre-existing decease are covered from day one while retail mediclaim as per policy wordings. As far as  Sum Assured is concerned in GMC  generally SA is 5L, in retail you can choose as per your need. A large corporation with large no. employee take maximum SA( it is customized as per corporation ) Portability is allowed in retail where your existing benefit is transf...