Business insurance is an important financial security tool that can help people reduce their financial burden when facing risks such as accidents or illnesses. However, different commercial insurance products have different coverage and terms, so it is important to understand the coverage and terms when purchasing business insurance.
1. Scope of Protection.
The coverage of commercial insurance usually includes the following aspects:
1.Accident Insurance: Covers bodily injury or death caused by accidents, such as traffic accidents, accidental falls, fires, etc.
2.Health Insurance: Covers medical expenses caused by illness or accidental injury, including hospitalization, outpatient expenses, surgical expenses, etc.
3.Life Insurance: Provides financial protection for families in the event of death or total disability due to illness or accidental injury.
4.Property insurance: Protects the safety of family property, such as houses, vehicles, furniture, etc.
II. Terms. The terms of commercial insurance usually include the following aspects:
1.Policyholder: refers to a person who purchases commercial insurance, and needs to meet certain age, health status and other requirements.
2.Insured: refers to the object of commercial insurance, such as the person protected in life insurance and the property protected in property insurance.
3.Sum Insured: Refers to the maximum amount paid out by commercial insurance, which is usually determined based on the premium paid by the policyholder and the type of insurance.
4.Insurance period: refers to the time frame of commercial insurance coverage, usually short-term and long-term.
5.Premium: Refers to the amount paid by the policyholder to the insurance company, usually based on the coverage and the amount insured.
6.Deductible: Refers to the minimum amount paid out by commercial insurance, which is usually borne by the policyholder within a certain range.
7.Beneficiary: refers to the beneficiary of the commercial insurance payment, usually a relative or friend of the insured.
8.Compensation method: refers to the method of commercial insurance payment, usually including cash compensation and reimbursement of medical expenses.
In conclusion, it is important to understand the coverage and terms when purchasing business insurance. Different commercial insurance products have different coverage and terms, so you need to choose the right commercial insurance product according to your own needs and actual situation. At the same time, you also need to carefully read the terms and conditions of the insurance contract to ensure that your rights and interests are protected.