Thursday, November 22, 2007

Buy peace with marriage insurance

The hazards attached to getting married is the last thing on the head of Gaurav
Patil, who binds the knot on December 7. The immature executive director just insured his
wedding for Rs 5 lakh, and bought
peace. This December, when
Indians shell out stopping point to Rs 50,000 crore over couples taking the vow, many of
the glitzy wedding ceremony ceremony ceremonials would be covered against fire and accidents to
either the bridegroom or bride, cancellation of the wedding and differences between
the bride and the bridegroom or their
families. “The marriage
insurance marketplace at Rs 30 crore is growing 50% year-on-year ,” states Kartik
Jain, selling caput of ICICI Lombard. “Consumer consciousness is on the rise
and the demand for the merchandise would not be restricted to any period,” he
says. “We are planning to come up out with a selling scheme for this
segment,” adds radon Ghelani of Asian Insurance
Company. Lately, the high and
mighty of the society have got been disbursement mega vaulting horses on weddings. People do take
care to make this once-in-alifetime event a memorable one. “In lawsuit of any
postponement or cancellations, there is a certain hazard of important monetary
loss. The wedding ceremony coverage bundle can counterbalance the pecuniary loss,”
says tantalum Ramalingam, head-underwriting, Bajaj Allianz General Insurance. Bajaj Allianz offers to insure
anything between Rs 20 hundred thousand and Rs 70 hundred thousand the insurance premium on the amount would range
between Rs 3,770 and Rs 14,276. Though there is no lower limit and upper limit limits
for the coverage , Mumbai-based clients travel for Rs 40 hundred thousand and above basket, it
is learnt. According to
industry beginnings the recent wedding ceremony of histrions Abhishek Bachchan and Aishwairya
Rai was also insured by a immense amount. Amitabh Bachchan, the junior
Bachchan’s father, however, declined to comment. Many other wedding ceremonies of
Bollywood personalities were also insured. “This section is growing at the
rate of 50% A year,” states Rahul Aggarwal, main executive director of Optima
Insurance Brokers. He indicates to the fact that most wedding ceremony counselors these
days advice their famous person clients to travel for insurance, and over 60% of their
clients agree.” And the
middle class, too, is realising the benefits. Says RK Patel, an Ahmedabad-based
businessman who have got insured his daughter’s matrimony scheduled in the last
week of December, “I have had a bad experience with a matrimony function
where there was a larceny at my cousin’s house and all the jewelry and
ornaments and other valuables got stolen. I make not desire to travel through that, and
don’t head paying a premium.”

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