it is necessary to insure both these assets. Friends, we are going to cover the business insurance concept in two parts in two videos, in the second part we will talk about insuring physical assets.
in which we will cover product insurance, profit insurance, asset insurance or marine insurance in today’s video we will talk about employee insurance, in which we will cover employee employer insurance main insurance partner insurance and professional indemnity insurance if you are a If you are a business man, then this video is very important for you, we will tell you many such ways, with the help of which you can protect your business hundred percent and even if you are an employee, this video is very important for you because today we are going to tell you Will tell how with the help of a business insurance, as much benefit can be taken by an organization, as much benefit is also available to an employee, so friends, you should see this site till the end.
So it is ver important for any organization to retain its employees for long term for which it is necessary to understand the problems of employees and solve them. See all the employees know that as long as they are with the organization Yes, they will continue to get money, but there is a big problem with them regarding their retirement period that when they are not working then where will the money come from or God forbid if any mishappening happens to them, then their family will be affected by this pest. Who will do it? And understanding this problem of employees, organizations sign an employee-employer contract for their employees. In this contract, basically the organization takes a policy for the employee, whose regular premiums are paid by the organization and the maturity value received in the hands of the employee. comes or if any mishappening happens to the employee, its complete death benefit is given to the employee’s family. There is a contingent liability on the organization in the employee-employer contact
It is not necessary that the maturity is going to be given to the employee only, see there are conditions that either if the organization has signed a contract with the employee earlier that you will work in the organization for ten years or five years. If it is to be done, it is necessary for the employee to work till the time that he stays in the organization or the employee works till his retirement period or till the death of the employee, he is making it with that organization only then that maturity value comes in the hands of the employee. Is or death comes in the hands of his family Advise policy is surrendered and the money whatever is the surrender value comes in the hands of the organization Right and talk about taxation then all the premiums paid in this policy are the expenses of the organization come into the account, due to which the under section thirty seven one organization does not have to pay any tax on the event amount of premium but the maturity value received in it which comes in the hands of the employee is fully taxable, now there is tax saving to do
The employee has an option for this, many life insurance companies give such an option that the employee can get a pension made from the complete corpus drain, will it be that the amount of pension that the employee will make in a year, the same amount will be taxable and if If the employee does not have any other source of income, then that pension is not going to be such a taxable income. Apart from this, there are some employees in every business who play a key role for the organization and in the absence of these employees, the organization faces a big loss. To avoid these huge losses that may have to be faced, business houses resort to the main insurance policy. They issue a term plan in the name of their key employees, with the help of which the organization is insured in the event of the employee’s death. The company gets a huge corpus amount, so that it can cover all its liabilities and provide financial support to the employee’s family. Similarly, in a partnership firm, there is right support for the partner’s insurance. do two partners
If mishappening happens with a partner in an organization, then there the family of that partner says that we do not want to continue this business or not, if we will be able to do this business then what do you have to do? Fifty percent of the business, whatever the partner’s city is, he has to sell off and give the money to his family, due to which good big businesses can also be closed, now suppose, there are two partners and you have one office in the business, There is a godown, now if mishappening happens with a partner, then you will sell the office or if you sell anything in the godown, then your business is not going to go ahead, for which you can get a partner insurance, imagine the worth of your business. 10 crore rupees, then you can take a term plan of 10 crore rupees for both the partners, now there will be a mishappening with the commodity partner as well, then from there a corpus of ten crore rupees will be provided by the insurance company, that ten crore rupees, commodity partner There is a mishappening with him, his family gets it and this ten crore, business partner who is his life comes to him.
This gives support to the family as well and your business also does not face any kind of loss, apart from this there is a fourth type of insurance, professional indemnity insurance, friends, this insurance does not protect everyone’s business, it is made for professionals like doctors. , Engineers, Chartered Accountants, Accountants or Financial Advisors who do not deal in any kind of products, but provide services or advisory to their customers. Now if you have taken professional indemnity insurance, then if ever a customer suffers loss due to your wrong advisory. Due to this and the customer claims his losses from you, on your behalf, your insurance company, that loss pays it off and pays off your liabilities and any professional should have a professional indemnity insurance for himself before starting his business. It is very important to take these four types of insurance policies, with the help of which we can insure all the employees of our organization and protect our business hundred percent.
Hi I hope you must have liked the site, I will see you soon, till then see you in the second part of the site, Tata bye bye
