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During this period, should you find any objectionable clause in your health insurance policy, then you possibly can cancel the coverage and ask for a refund. Note that you will obtain the refund only if no declare has been made in the course of the coverage time period. The amount of refund might be calculated after bearing in mind the expenses incurred on medical check-ups, stamp responsibility, and proportionate risk premium, i.e. the number of days you've been covered for dangers beneath the policy. To know more a few premium refunds, it is suggested to undergo the coverage document.
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Captive insurance corporations may be outlined as limited-purpose insurance corporations established with the particular objective of financing dangers emanating from their parent group or teams. This definition can typically be extended to incorporate a few of the dangers of the parent firm's customers. Captives represent business, economic and tax advantages to their sponsors because of the reductions in prices they help create and for the benefit of insurance threat management and the flexibility for money flows they generate. Additionally, they may present coverage of dangers which is neither available nor offered in the traditional insurance market at affordable prices.
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