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Coverage

When discussing insurance, we often come across the term "coverage". This refers to the amount of insurance purchased from an insurance company. In other words, it is the monetary value that the policyholder is protected for in case of an event covered by the insurance policy. This is an essential concept to understand when it comes to managing risks and protecting our assets.

After Tax Rupees

Discretionary income, as defined by the Income Tax Act, is the remaining income a policy holder has after taxes have been paid for a specific financial year. It is the amoun...

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Conditional contract

A fundamental concept in finance is the idea of a contract, where one party agrees to perform certain actions in exchange for another party's compensation. This is particula...

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Double Cover

In the world of finance, there exists a term known as "additional sum". This term refers to an amount of money that is equivalent to the sum assured and is paid out when a c...

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Treaty reinsurance

Reinsurance treaties are mutually beneficial agreements between insurance companies and reinsurers. In this arrangement, both parties agree to automatically accept a certain...

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