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BUSINESS LAW REPORT 5 Business Law Report Name of the University Author Name

   

Added on  2021-06-15

9 Pages2176 Words137 Views
Running head: BUSINESS LAW REPORTBusiness Law ReportName of the StudentName of the UniversityAuthor Note
BUSINESS LAW REPORT 5 Business Law Report Name of the University Author Name_1
1BUSINESS LAW REPORTCONTENTSINTRODUCTION...........................................................................................................................3SCOPE OF TOTAL AND PERMANENT DISABILITY INSURANCE......................................3APPLICABILITY OF TPD INSURANCE.....................................................................................4CASE STUDIES..............................................................................................................................6REFERENCES................................................................................................................................9
BUSINESS LAW REPORT 5 Business Law Report Name of the University Author Name_2
2BUSINESS LAW REPORTINTRODUCTIONThe Insurance is designed to help take the pressure off a person financially in cases whenhe suffers an illness or injury leaving him totally and permanently disabled. The lumpsumbenefitpaid is often used to eliminate debts, pay for medical expenses orfundpermanentlifestyle changes.When an insured becomes permanently disabled due to anyillness or any accident, the insured is paid a lump sum amount. This insurance helps in runningthe finances of anyone who has been permanently disabled due to any accident or illness. Thefamily of the insured is freed from the tension in case the person cannot finance himself, the totaland permanent disability insurance pays the amount for him. Similar to life insurance, where theinsured has an option of choosing which cover he would want to be covered with, the same ruleapplies in case of Total and permanent disability insurance. SCOPE OF TOTAL AND PERMANENT DISABILITY INSURANCEAccident Cover: This will cover the insured in cases of accidents which are explicitlymentioned in the policy schedule. If the person can prove that the disability occurred as a resultof the accident, he will be covered by the Accident Cover. Accidents that are covered under thisscheme are accidents sustained in a road traffic accident or during transportation. (Rivera 2015).These also include injuries arising out of sports accidents which are covered under the Cover.Illness cover: This covers an insured in cases of permanent disability arising out any illnesswhich has been mentioned in the policy scheme. The diseases that can be considered under thepolicy scheme as debilitating to cause disability are cancer, heart disease, organ failure and anyother deadly disease.
BUSINESS LAW REPORT 5 Business Law Report Name of the University Author Name_3

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