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There are multiple benefits of taking an insurance policy at an early age, especially term insurance. We all know risk on life increases with age and so does insurance premium. As you age, you are at greater risk of contracting critical illnesses such as diabetes, cancer, etc., as well as...

You, as an investor, can choose any premium paying term as you see fit. However, since term insurance plans pay a death benefit only in case of death during the policy tenure, it only makes sense to choose a long tenure for your term life policy. There are insurance companies...

Before we explore the area of LOP extensions, we need to appreciate the difference between Material damage insurance policy  and the other policy, known by different names- like Consequential Loss (CL)/ Loss of profit (LOP)/ Business interruption (BI) policy. Material damage policy covers the physical damage to a machinery or a...

In our previous blog we had discussed the material damage provision being- deemed extended to a premises of   Supplier/Customer ( beyond the Insured manufacturing unit) for purposes of trigger for LOP liability.  Denial of access follows the same logic, extending the physical loss or damage to "vicinity" (which may be...

Going back to the basics, a Business Interruption policy covers the loss of profit due to interruption caused by material damage at the insured location (and in some cases- at other specified location/s). The revenue generated by the business, the profit lost and other financial details required in event of...