Prajna Capital - An Investment Guide

Here’s a ready reckoner on wedding insurance, why you should opt for it and major exclusions of the policy. Customised Convenience Wedding insurance is a customised event insurance plan that includes all specific risks related to marriage. The typical coverage includes the cancellation or postponement of wedding due to unforeseen circumstances, accident to bride/ groom, accident to blood relatives resulting in hospitalisation within seven days prior to the printed/ declared wedding date, damage to property and money in safe, burglary and public liability. For instance, if the marriage hall gets flooded or in occurrence of an earthquake, the irreversible cost of the wedding is reimbursed as per the policy terms and conditions. Further, the public liability cover safeguards you against legal liability arising towards third parties for accidents resulting in injury or damage occurring at the venue of the insured event. In India, most insurance companies such as Bajaj Allianz, ICICI Lom...

Motor insurance is not just a legal requirement. Read the fine print before signing on the dotted lines to save money AT A TIME when motown customers are facing heat over high fuel prices and soaring interest rates, shouldn’t they strive to extract every penny they spend on their automobile purchase? Valid question, you may say, but most customers choose to ignore an important component while purchasing a vehicle — motor insurance. They just consider it a legal requirement without which they can’t bring their new vehicle on road. Indeed, motor insurance is a necessity which covers you against damage to your own vehicle and damage to the third party. Broadly, there are two types of auto insurance — 1) Comprehensive policy and 2) Third party insurance . 1) Comprehensive policy In comprehensive insurance, you get full cover for every possible damage, including dents, technical problems, repair, accidents and even for car theft. To make sure that an individual gets the best deal w...

With rising awareness and courts getting consumer friendly, more aggrieved clients are taking professionals to court. How indemnity insurance minimises the financial impact of such adverse rulings? Read on………. SAMPLE this: An Illinois jury recently awarded the parents of a seven-year-old boy $12 million in a medical malpractice case against the doctor who delivered the ‘disabled’ child. In another case last year, an elderly man’s death brought a $5.25-mn malpractice verdict against a Texas doctor, while a Washington, DC, judge filed a $67-mn lawsuit against his drycleaner just for losing his favourite pair of pants! If you, however, thought such things can happen in western world only, think again. For, India’s premier medical institution AIIMS was also some time back ordered to pay Rs 5 lakh in damages to a woman for surgically removing one of her body parts after wrongly diagnosing that it was affected by cancer. And that’s not the ‘lone’ case of medical negligence or error wh...

But luck may not always be on your side. With the frequency of such attacks, as also other risks and unforeseen accidents growing, a wedding insurance is something you may want to look at if a marriage is being planned in the family. Event insurance plans like this is still in its nascent stages due to low awareness. And given the sacred nature of the ritual, nobody wants to discuss or think negative. But as wedding spends and risks grow, it makes sense to cover the potential monetary loss. The policy in those countries even covers the loss of the wedding ring, the wedding gown not reaching on time and even the expenses/loss due to late or non-appearance of the photographer which may mean staging the event once again for the photograph. In India, most insurance companies — including ICICI Lombard General Insurance, Oriental Insurance, Bajaj Allianz and National Insurance — offer wedding insurance. The policy is tailor made to individual requirements and needs. The sum insur...