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19
Mar
2017
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Role of compensation in life of policy holder

At the very threshold a question rise that what is personal injury? A physical or psychological

Damage made by the means of disease, illness or accident injuries. Also death is counted as personal injury. Examples of personal injuries for the eligibility for Claim Insurance are mentioned below:-

An injury received as a gift of using faulty goods or services, an injury originated if you trip over paving stones, an injury at work. This contains work-related sicknesses such as a disease caused by working with chemicals, a psychological illness experienced as a consequence of abuse as a child, an injury reasoned by errors in hospital cure or by inoculations, a mental illness caused by tension at work, an injury caused in a traffic mishap etc. Now, Compensation is a friend or life-saver or bless to someone who is standing at a critical turn of life. Sometimes it comes as hand of God to some people; when nobody is there for them this can drag them out of danger. May this not happen to any of us but whenever an accident happens, each of us thinks that “Am I eligible to get the compensation from Claim Life policy?” the answer lies in damages- how much cost you the injury you got.

In most cases, the plaintiffs or insurers are paid money as compensation by the concern company who is responsible legally as the contract between them is concern. Compensation can be agreed upon after a settlement between the sides as per the agreement signed between them. Now the followings are some types of personal injury cases and their explanation.-

Compensatory means the concern company is willing to compensate the victim for the lost due to the injury from a monetary standpoint. This means the consequences of a mishap is being calculate or counting equal to a currency figure.