BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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insurance underwritten for a group as a whole rather than each individual in it
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insurance covering losses resulting from physical damage to or loss of the insured’s real estate or personal property
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coverage provided by a firm to employees for medical expenses, loss of wages, and rehabilitation costs resulting from job-related injuries or disease
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insurance covering losses resulting from medical and hospital expenses as well as income lost from injury or disease
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Detailed explanation-1: -Health insurance is an insurance product which covers medical and surgical expenses of an insured individual. It reimburses the expenses incurred due to illness or injury or pays the care provider of the insured individual directly.
Detailed explanation-2: -Mediclaim insurance provide protection against medical bills. You can avail of the cashless facility at network hospitals. Mediclaim is available for both individual and family. It provides tax benefits on the annual premium.
Detailed explanation-3: -Ans: Liability insurance covers the medical and legal expenses if the insured is held legally responsible for someone else’s damage to the property as well as an injury sustained by a third party.
Detailed explanation-4: -Mediclaim is a type of health insurance plan that takes care of the policy-holder’s healthcare expenses in case he/she gets hospitalized due to an illness or an accident. These policies cover the policyholder for a defined time period and up to a predetermined limit known as the ‘sum assured’.