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Question
Mr. Amit is a businessman. He has his own factories in Pune and Nashik. He lives in Pune with his wife and 2 daughters aged 5 and 8 years.
- Can Mr. Amit take a life insurance policy for his wife and 2 children?
- Can Mr. Amit take a marine insurance policy for his factories?
- Which type of insurance should Mr. Amit take for protecting his factories from loss due to fire?
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Solution
- Mr. Amit can take whole life policy or term insurance policy for his wife and child insurance policy or money back policy for his daughters.
- Mr. Amit cannot take marine insurance policy for his factories.
- Mr. Amit can take Floating Fire Insurance Policy for protecting his factories at Pune and Nashik.
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