Results 1 to 7 of 7

Thread: Personal Protection Insurance & Professional Indemnity Insurance

  1. #1
    Banned
    Join Date
    Jun 2012
    Location
    UK
    Posts
    5

    Default Personal Protection Insurance & Professional Indemnity Insurance

    hey. can somone explain whether a software engineer would require both PPI & PII ? or professional indemnity insurance is more suitable for such an engioneer i work for an IT company, it provides web designing services, hardware sale and maintenance and IT consultancy. the Company doesn't currently have any policy regarding insurace coverage for its staff. so im wondering whether i require it or can do without it?




  2. #2
    PW Stalwart Master's Avatar
    Join Date
    Feb 2009
    Location
    Mumbai
    Posts
    438

    Default

    Professional indemnity insurance (PII) cover is to pay the legal costs and compensation arising from any negligence claims made by clients against you.

    Payment protection insurance (PPI), also known as credit insurance, credit protection insurance, loan repayment insurance, is an insurance product that enables consumers to insure repayment of loans if the borrower dies, becomes ill or disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt.

    You should take PII policy.

  3. #3
    Banned
    Join Date
    Jun 2012
    Location
    UK
    Posts
    5

    Default

    Thank you Master Let me clarify, by PPI i meant personal protection insurance? so do you think i would require that?

  4. #4
    PW Stalwart Manish_Kumar's Avatar
    Join Date
    Apr 2009
    Location
    Patna
    Posts
    268

    Default

    Did you mean personal protection insurance, is it same as personal accident insurance?
    Because we don't have any such policy as personal protection insurance in India.
    Everyone has a scheme of getting rich.. Which never works.

  5. #5
    Banned
    Join Date
    Jun 2012
    Location
    UK
    Posts
    5

    Default

    I meant personal protection insurance MANISH i have another question, would my personal protection insurance have any effect on my life insurance? would i even need PPI if i already have life insurance?

  6. #6
    PW Stalwart Manish_Kumar's Avatar
    Join Date
    Apr 2009
    Location
    Patna
    Posts
    268

    Default

    As I said in previous thread there is no such policy as personal protection insurance in India. But you can tailor made it by clubbing personal accident, critical illness and loan protection insurance (if you have any loan outstanding).

    Life insurance has no link with any other insurance. They will pay you in case of any mishappening.
    Everyone has a scheme of getting rich.. Which never works.

  7. #7
    Banned
    Join Date
    Jun 2012
    Location
    UK
    Posts
    5

    Default

    Manish, why do we require an accident insurance or travel accident insurance separately when we already have our life insurance coverage?


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •