Everywhere doctors are considered to be living god on the earth because they saves many of our lives. Be it in India or any other part of the world, doctors are given most importance in our society. After all, they take away all our pain and worries. Being a doctor has to compromise a lot on their time, health, family life and many things.They always feel burdened with the pressure of doing the best of their abilities to resolve people’s mental and physical health issues, without letting the stressful condition occur again. However, there’s more to it. A doctor also has to keep themselves prepared for multiple external risks that are associated with commercial units. Doctors should deal with accountability issues that patients in most parts of the country have started raising. In other words, patients are becoming less respectful and demanding more accountability towards doctors
Professional Indemnity Insurance :- Fighting legal cases is one of the biggest deal for the doctors. We all are known that medical outcomes for individual cases are not that easy to predict or control. However, whenever there is a negative outcome, it is immediately linked with doctor’s negligence. Litigation and compensation demand from patients get too much for doctors to handle, especially when courts have a reputation of deciding in favor of patients. Whether the doctors lose or win, it gets important for them to hire lawyers to defend themselves in these suits. Professional indemnity insurance plays a significant role in protecting doctors from claims of patients that are linked with negligence, or errors with doctors. This specific insurance covers costs incurred during the investigation period as well as expenses related to representation and compensation.
Personal Accident Insurance:-This insurance policy that’s becoming of great importance for doctors is personal accident insurance. To protecting doctors from physical assault incidents, personal accident insurance provides best protection from accidental injuries and disabilities. With cases of doctors being verbally as well as physically assaulted by the relatives of the patients, it is becoming extensively important for doctors to start buying personal accident insurance and protect themselves from physical assaults, resulting in injuries and disabilities.
Property Liability Insurance :-Property liability insurance is an insurance type doctors should invest in so that they can safeguard the buildings that they own or their business property and inventory against physical loss or damage. Let’s take the example of a fire hazard. In such a case, there are minimal chances of expensive equipment and other assets being saved from any kind of damage. In order to cover damages to assets owned, it is important for doctors to secure themselves against risks and damages of such types.
Public Liability Insurance :-Those new to the concept of public liability insurance, It is also known that it is an insurance type that is specifically designed to provide protection to you against your legal liability to pay compensation for injury or damage suffered by third party.Public liability insurance holds massive importance for doctors so that they can safeguard themselves from numerous litigation cases involving injuries and property damage to others.
LIC’s Group Credit Life Insurance is a non–linked, non-participating single premium group term insurance plan. This plan offers an insurance cover on death of the group member during the policy term. The amount of insurance cover i.e. sum assured shall depend on the loan amount, rate of interest, moratorium period, if any, and nature of […]
From the past few years, expenditure incurred on healthcare has been on the rise, encompassing expenses on preventive medical check-ups, medical insurance, etc. Income-tax Act, 1961 (the Act) provides certain tax deductions for an individual in respect of such expenditure happened on self or dependents, which have been discussed in this article. Medical claim/Health insurance […]
Early Stage Cancer Benefit shall be payable only once for the first ever event and Life Assured shall not be entitled to make another claim for the Early Stage Cancer of same or any other cancer. However, the coverage for the Major Stage Cancer under the policy shall continue until the policy terminates. (ii) Once […]