Professional indemnity Insurance – Essential for Professionals

Bajaj Capital Insurance

As a professional, you have a duty to offer 'reasonable skill and care', as part of the service you provide. If you fail to exercise this duty and are subsequently proven to be negligent, you may be liable for any losses incurred by your customers or other third party. Proving your innocence isn’t cheap so in today’s litigious climate it pays to be protected.

Professional indemnity insuranceis something that is often overlooked with devastating consequences unfortunately, no matter how good we are at our jobs or how good our attention to detail may be there is always the potential for small mistakes to be made.

Anyone who offers their knowledge, experience or skills as a paid service could benefit from professional indemnity cover. It’s now a common requirement for many professions such as solicitors, financial advisors, designers, accountants, architects, insurance brokers, builders and PR and marketing consultants.

The policy covers all sums which the insured professional becomes legally liable to pay as damages to third party in respect of any error and/or omission on his/her part committed whilst rendering professional service.     

This type of cover could help protect you financially if you are faced with a negligence claim. If you make a mistake or offer flawed advice which has a negative impact on your client or customer, they may seek some compensation.

Now these days most of the insurer in the market will provide the cover against

•    Neglect, error or omission including breach of contract
•    Dishonest, fraudulent, criminal or malicious acts or omissions of any person employed at any   

     time.
•    Unintentional breach of, or unauthorised use of, confidential information, trade secrets, patents

     and copyrights of the systems or programs of third parties
•    The publication or utterance of a libel or slander.
•    All costs, charges and expenses incurred in replacing or restoring any documents that have been

     lost, damaged, destroyed, mislaid, distorted or erased.
•    The negligence of any specialist consultants or sub-contractors acting on your behalf or for

     whom you are responsible.
•    Any retroactive cover for all work since the start of the policy.

.
Today’s savvy consumer is highly aware of their legal rights and today’s blame culture has been found to be largely responsible for the increase in claimants against a whole manner of service providers.

In Professional Indemnity policy, many insurers  include a retroactive date within their policy. This covers for work completed during that period i.e. if you have 2 years retroactive cover, you will be covered against claims connected with work you’ve carried out during the previous 2 years. This is an essential option if you have undertaken a lot of high-risk work in the past.

 While professional indemnity may be compulsory insurance for some businesses, for others it gives significant peace of mind which is just as valuable.

Ultimately, by preparing for a number of legal eventualities, it is a sensible way to ensure you are looking after the long term future of your business while protecting yourself at the same time.

Don’t leave yourself vulnerable – make sure your business is protected with comprehensive professional indemnity insurance. Make sure any risks associated with being self-employed are fully protected.

It is advisable that you examine the terms of any professional indemnity policy before you make a purchase as the extent of cover can vary between insurers.

HEALTH INSURANCE – Saving with Security

Bajaj Capital Insurance

Life is full of uncertainties. Risk lurks in every nook and corner of human life. In short, life is unpredictable. We need to be prepared for such circumstances. Leading a happy life, involves good planning and analysis for your personal health. Accidents do happen and you need to be prepared for such situations. In times of high health cost, you need to get covered for health risks.

Health insurance comes in handy in case of severe emergencies. The term health insurance (popularly known as Medical Insurance or Mediclaim) is a type of insurance that  protects you and your dependents against any financial constraints arising on account of a medical emergency. It sometimes includes disability and long term medical needs. In Mediclaim, you pay a premium and in return the insurer commits to pay a predetermined sum of money to meet the claims.

Most insurance companies have health plan options that allow you to choose from among health insurance policies that have lower monthly premiums if you consent to pay more out-of-pocket costs, such as a yearly deductable and copayments for services and prescription medications. If you are healthy and do not anticipate any   medical spending in the coming year, choosing a plan with larger out of pocket expenses may make sense for you.

For some consumers, buying health insurance is the only health coverage option. However, some of them may still be an option to save money.

Health plans are available in two formats, individual and group plans. In an individual policy you are personally the owner of the policy. While in a group plan, the sponsor owns the policy and the people covered under it are called its member

Saving with Security

Saving :-Along with the support of medical care that a policy provides, it is also important to note financial benefits that it gives. You save in two different ways with a medical insurance policy.

Firstly, you save on the cost of treatment, which can include the cost of hospitalisation, pre and post hospitalisation care, cost of expensive diagnostics etc.

Secondly, the Indian government gives heavy tax benefits in the form of deductions and exemptions from the total taxable income to anyone paying premium towards a mediclaim insurance policy. If you have two mediclaim policies, one for your family and another for your parents, then you can get a sizeable tax deduction from your total taxable income. 

Security : Health insurance policies are plans that are designed to be used when you have any health related problem. A health care insurance policy can be thought of as a contingency plan made to make things easier for you when the going gets tough. A policy not only protects you, but your whole family. The best health insurance companies offer "family floater" plans. A "family floater" plan can cover two adults and two children and comes out to be more efficient than four individual policies for each family member. Furthermore, best health insurance policies should include other bonus features such as "cashless hospitalisation", free health check-ups, inclusion of pre-existing diseases etc. 

Support for emergencies: In emergency situations that are the hardest to control because you do not know when, where and to whom it might happen. The mediclaim insurance companies have come up with plans on how to tackle emergencies and make it easier for you, and has also come up with the clause of "cashless hospitalisation”. This feature allows you to get hospitalised without the hassle of cash. This is a especially designed feature for emergencies where it is quite impractical to expect a patient to withdraw cash from a bank before heading to the hospital to get admitted. All you have to do is check whether the hospital you are headed to is on the panel of the medical insurance company or not, pick up your health card and get admitted. 

Peace of mind: Stress is the number one enemy of health. Stress makes your immune system weak and makes you vulnerable to all kinds of health trouble. With all these benefits of a health insurance policy in your pocket, you can be sure that you can handle anything that life has to offer. You can relax and breathe easy. No more will you have to fret about medical bills or worry about your and your family's future health.

In case an individual is taking the deduction, the medical insurance policy can be take in the name of any of the following: the taxpayer or the spouse, parents or dependent children of the taxpayer.

However, before buying a health insurance policy, plan your requirements carefully. It will save you from buying a policy which might not be appropriate for you and can also be expensive. 

Where to start insurance can be confusing because so many options available in the market, how do you know which one is the best for you.

That is where Bajaj Capital Insurance can help you by allow you a range of insurance policies.

SITTING IS THE NEW SMOKING

SITTING IS THE NEW SMOKING

India has made significant progress in the past several decades in white collared , and Pink collared jobs . The impact of this growth is , rise  of cigarette smoking among youth populations. However we are not going to talk about Smoking today , we all are well aware of consequences of smoking which leads to Cancer. 
 
There is a new smoking in the town and that is more dangerous than any other disease . The most deadliest  disease which kills you slowly is  Silicon Valley Syndrome . Unfortunately all working professionals are on hit list of this disease .  There's no running away from it: The more you sit, the poorer your health and the earlier you may die, no matter how fit you are.

You've no doubt heard the news by now: A car-commuting, desk-bound, TV-watching lifestyle can be harmful to your health. All the time we spend parked behind a steering wheel, slumped over a keyboard, or kicked back in front of the tube is linked to increased risks of heart disease, diabetes, cancer, and even depression-to the point where experts have labeled this modern-day health epidemic the "sitting disease". 

Even if you are a runner there is no way that you can be spared by this deadlies syndrome .A consistent body of emerging research suggests  that sitting increases your risk of death and disease, even if you are getting plenty of physical activity. 

It's a bit like smoking. Smoking is bad for you even if you get lots of exercise. So is sitting too much. Unfortunately, outside of regularly scheduled exercise sessions, active people sit just as much as their couch-potato peers. 

In a 2012 study published in the International Journal of Behavioral Nutrition and Physical Activity, researchers reported that people spent an average of 64 hours a week sitting, 28 hours standing, and 11 hours milling about (non exercise walking), whether or not they exercised the recommended 150 minutes a week. That's more than nine hours a day of sitting, no matter how active they otherwise were. 

We were very surprised that even the highest level of exercise did not matter squat for reducing the time spent sitting. Sitting for an extended period of time causes your body to shut down at the metabolic level, When your muscles, especially certain leg muscles, are immobile, your circulation slows. So you use less of your blood sugar and you burn less fat, which increases your risk of heart disease and diabetes. 

The simple reason is that key gene (called lipid phosphate phosphatase-1 or LPP1) that helps prevent blood clotting and inflammation to keep your cardiovascular system healthy is significantly suppressed when you sit for a few hours. However the worst part is Heart disease and diabetes aren't the only health hazards Its the much more worst . 

The American Institute for Cancer Research now links prolonged sitting with increased risk of both breast and colon cancers. 

Sitting time is emerging as a strong candidate for being a cancer risk factor in its own right .According to Alberta Health Services-Cancer Care in Canada, inactivity is linked to 49,000 cases of breast cancer, 43,000 cases of colon cancer, 37,200 cases of lung cancer, and 30,600 cases of prostate cancer a year world wide.

a 2013 survey of nearly 30,000 women found that those who sat nine or more hours a day were more likely to be depressed than those who sat fewer than six hours a day because prolonged sitting reduces circulation, causing fewer feel-good hormones to reach your brain.

The Cure

Many of us don't recognize the powerful habits we have created around technology-for example, using our phones as alarm clocks means inviting these devices into our beds as we keep checking emails and status updates, all while losing more sleep and potentially increasing our anxiety levels right at bedtime.

Here are few tips which you can follow :

Scared, so straight out of your chair?

1. Stand up and walk : Every time you need to talk to some one get up walk to that person rather than using intercom. 

2. Stand on one leg : Try standing on one leg . 

3. Try nerve glides: Keep a smiley soft ball keep squeezing it after every half an hour. 
     
4. Desk press: This fantastic office exercise will strengthen both your upper body and core . While keeping your body in a straight line using your core muscles, hold a push-up position with your elbows at a 90-degree angle. While holding this position, execute 10 knee-drives, followed by 5 push-ups. Repeat 3 to 4 reps.

However emergency can  knock at your door anytime hence Buying a Online Health Insurance can be a good option coz  health insurance covers those unpredictable moments in life without burdening your pocket with heavy bills. 

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Why you need insurance comparison?

Be Prepared and Pro-Active for any of the situation because life is full with uncertainties. You situation is unique and all the insurance policies are not having equal weightage. It’s very important to have right cover that can cater your specific needs.

Where to start insurance can be confusing because so many options available in the market, how do you know which one is the best for you.

That is where www.bajajcapitalinsurance.com can help you by allow you a range of insurance policies.

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