Introduction Indemnity insurance, also known as an indemnity policy, is a crucial risk management tool that provides financial protection to individuals and businesses against potential liabilities or losses. It serves as a safeguard, ensuring that indemnity policy holders can recover financially from unexpected adverse events. In this blog, we will delve into the essential aspects of […]
Articles Tagged: indemnity policy
What are the advantages and disadvantages of a group-based indemnity policy?
A Group-based indemnity policy comes with both advantages and disadvantages. Advantages of Group based policy – 1. Waiver of medical underwriting – Medical tests are not mandatory for group insurance schemes. Hence, guaranteed policy issuance for members who may have pre-existing medical conditions. 2. Waiver of waiting period for pre-existing diseases – Individual policies generally […]