The growth in the housing loans in India has also accelerated the market for the Home insurance market. The need, popularity, and acceptability of these products are indeed quite high. This insurance policies help the borrower to reduce the risk factor on his shoulder.
It has now been made mandatory to avail insurance in India along with loan to purchase a new home. It takes only a small premium to give the much-needed financial cover, emotional security and peace of mind during the repayment tenure.
On the unexpected demise of the borrower of the home loan, the burden of repayment of loan amount falls on the surviving members of the family. In that unfortunate situation, the outstanding loan amount of a home loan is paid by insurance cover. The insurance coverage which is availed by the borrower through small premium helps like a godsend boon.
The concerned insurance company repays the home loan amount and prevents the bank/HFC from taking over the underlying house to recover the dues. This type of insurance is meant for borrowers who have no alternate source of money to raise capital. Nowadays, most of the banks/HFCs are complemented by an insurance arm - directly or through an associate company – to offer the insurance product along with the home loan.
There is a nominal fee attached with these insurance policies and in some cases it may be free. This insurance can be bought only for the building (structure) of your home, or only the contents (belongings) or both. The policy covers the losses to the structure and contents of your house due to any natural and man made calamities. The indicative list of calamities covered are fire, riot, strike & malicious damage, explosion & implosion, earthquake, lightning, storm, cyclone, tornado, hurricane, flood & inundation and damage due to impact by vehicles.
The premiums are not high as the policy is a term insurance product. The borrower may opt for the product from the market at a low cost independently. As the loan amount increases the payback amounts also increases . The repayment of the loan is generally made through equated monthly installments (EMIs). EMIs also increase with the increase in loan amount. so, if the borrower is looking for a higher loan amount, he should keep in mind that the risk factor is more. He should reduce the involved risks by going for a home loan insurance policy.
9/08/2009
How to make Christmas decorating safety
Many families and homes in the United States do some type of home decorating during the months of November and December. Christmas is, by far, the most decorated holiday in this country. However, decorating accidents and injuries are also quite common around the holidays. According to the Consumer Product Safety Commission (CPSC), approximately 10,000 people visit emergency rooms each year due to accidents related to holiday decorating. When decorating your home, it's important to follow good safety procedures to protect yourself and your property.
First and foremost is Christmas tree fire safety. Some people believe that real trees are fire hazards. For the most part, this is untrue, provided that they are kept watered. A well-hydrated real Christmas tree is no more of a fire hazard than a fire-retardant artificial tree. There are automated Christmas tree waterers on the market today that make the task of watering your tree much easier. Instead of having to remember to water the tree every day, just fill up the tree waterer's reservoir, and it will do the work for you for several days or up to a week.
It's also important to check your holiday lights before using them. Strings of lights should be checked for frayed cords, broken bulbs, or other signs of damage. Don't take any chances with old lights! If they look like they've outlived their useful life, discard them. There are many organizations that now recycle holiday lights; check online for a location near you.
Be sure not to plug too many strings of lights into one outlet or extension cord. You should carefully read and follow all safety instructions that come with your lights. A good rule of thumb is no more than 3 strings of lights plugged together into one outlet. Extension cord safety is also important. Be sure not to run extension cords under rugs, as this can cause wear over time. When decorating outdoors, you should also take care not to run extension cords across driveways or sidewalks where they might be a tripping hazard for pedestrians.
Of all the dangers of holiday decorations, candles play the largest role in holiday accidents and injuries. According to the CPSC, as many as 14,000 house fires occur each year due to burning candles, and those fires result in approximately 170 deaths. The best way to play it safe with candles is simply not to use them at all. If you must burn candles, be sure to keep them far away from children and pets. You should never leave a burning candle unattended. It's also important to keep open flame away from anything that might be flammable such as curtains and drapes, wrapped package and other paper, and live and/or artificial trees and greenery.
Candles are not the only source of open flame around the holidays. When the weather turns cold, many families like to have fires in their fireplaces or wood burning stoves. It's important to take precautions with these types of fires, too. Remember to keep young children and pets far away from fireplaces and stoves to avoid burns. Also, it's important to have a good safety screen in front of a fire so that popping sparks don't ignite carpet or other nearby objects. If you like to hang stockings on your fireplace, be sure they are far enough away that the heat or popping sparks won't catch them on fire, either. Special salts used to produce colorful flames should also be kept away from children and pets, as they can be poisonous when ingested.
Remember, 'tis the season to deck the halls safely and soundly. No family enjoys a holiday spent in the emergency room! With some good common sense and basic safety rules, you can make the holidays a safe and pleasant time for yourself and your family.
First and foremost is Christmas tree fire safety. Some people believe that real trees are fire hazards. For the most part, this is untrue, provided that they are kept watered. A well-hydrated real Christmas tree is no more of a fire hazard than a fire-retardant artificial tree. There are automated Christmas tree waterers on the market today that make the task of watering your tree much easier. Instead of having to remember to water the tree every day, just fill up the tree waterer's reservoir, and it will do the work for you for several days or up to a week.
It's also important to check your holiday lights before using them. Strings of lights should be checked for frayed cords, broken bulbs, or other signs of damage. Don't take any chances with old lights! If they look like they've outlived their useful life, discard them. There are many organizations that now recycle holiday lights; check online for a location near you.
Be sure not to plug too many strings of lights into one outlet or extension cord. You should carefully read and follow all safety instructions that come with your lights. A good rule of thumb is no more than 3 strings of lights plugged together into one outlet. Extension cord safety is also important. Be sure not to run extension cords under rugs, as this can cause wear over time. When decorating outdoors, you should also take care not to run extension cords across driveways or sidewalks where they might be a tripping hazard for pedestrians.
Of all the dangers of holiday decorations, candles play the largest role in holiday accidents and injuries. According to the CPSC, as many as 14,000 house fires occur each year due to burning candles, and those fires result in approximately 170 deaths. The best way to play it safe with candles is simply not to use them at all. If you must burn candles, be sure to keep them far away from children and pets. You should never leave a burning candle unattended. It's also important to keep open flame away from anything that might be flammable such as curtains and drapes, wrapped package and other paper, and live and/or artificial trees and greenery.
Candles are not the only source of open flame around the holidays. When the weather turns cold, many families like to have fires in their fireplaces or wood burning stoves. It's important to take precautions with these types of fires, too. Remember to keep young children and pets far away from fireplaces and stoves to avoid burns. Also, it's important to have a good safety screen in front of a fire so that popping sparks don't ignite carpet or other nearby objects. If you like to hang stockings on your fireplace, be sure they are far enough away that the heat or popping sparks won't catch them on fire, either. Special salts used to produce colorful flames should also be kept away from children and pets, as they can be poisonous when ingested.
Remember, 'tis the season to deck the halls safely and soundly. No family enjoys a holiday spent in the emergency room! With some good common sense and basic safety rules, you can make the holidays a safe and pleasant time for yourself and your family.
9/07/2009
Health and Safety - Training and Risk Assessment
When we talk about business, there are several risks involved, which take various forms. Right from the business’ inception to its death, these risks generate and spread its roots constantly. The risks we are referring to here are not only the investment risks or the raw materials procurement risks, but also the extremely dangerous heath and safety risks. Health and safety risks can cause illness and may prove to be enormously fatal, even leading to accidental deaths at work. Hence, this calls for immediate preventative measures with the help of an effective health and safety training programme as well as health and safety risk assessment.
Health and safety training contributes greatly in leading successful commercial processes. It assists in:
Ensuring a suitable work atmosphere and hygienic conditions for the workers to avoid injuries and illness.
Establishing a constructive health and safety culture, where safe working becomes a daily practice.
Meeting the employer’s obligation to provide protection to his employees, as per the law.
Hence, it is absolutely imperative to set up a defined health and training programme to ensure a secured work environment.
On the other hand, when it comes to the risks associated with health & safety, a thorough health and safety risk assessment becomes a must. The health & safety risk assessment involves a detailed study of the responsible factors that might cause damage to the people. This evaluation helps in taking trenchant precautions to curb the possible hazards.
Carrying out health and safety risk assessment must be steady and uncomplicated and should involve the employees to gather more and more useful ideas.
The health & safety risk assessment involves 6 crucial steps, namely:
Identifying the health & safety hazards.
Determining the people who might be harmed and affected.
Recognizing the reasons and risks that might harm the people.
Evaluating these risks and accordingly setting precautionary measures.
Recording the findings and executing them systematically.
Reviewing the assessment and revising it if required.
Thus, with the above mentioned approach, health and safety risk assessment can provide safe protection to not only your employees, but also to you.
Other useful techniques to combat the destructive work hazards effectively:
Manual Handling Training:
Most of the occurring injuries at work take place due to faulty manual handling, which involves the transport or the support of loads by either hands or physical force. The key point to be noticed is that these injuries can arise at every workplace; be it a factory, building site, hospital, laboratory, warehouses, and other workplaces. Hence, it is urgently essential to adopt effective manual handling training to prevent these manual handling dangers.
Manual handling Training requires careful considerations to be taken regarding the nature of work. Manual handling should be made comfortable or preferably avoided as much as possible to restrict the possibility of the arising injuries. Wherever required, establishing substitutes to manual handling like building pipes for liquid flow, using gravity to enable downward movement of the materials, etc. can play a helpful role in manual handling training.
Moreover, manual handling training needs constant technological upgradation and regular assessment so as to make necessary alterations in the training programme. This will ensure better health and safety prospects for the employer and the employees alike.
Fire Marshal Training:
Fire hazards are other treacherous risks that can occur at a workplace. For instance, problems may arise in the electrical systems or the appliances that can lead to fatal accidents. In such cases, it is vital to implement fire marshal training with no waste of time. Fire marshals or fire wardens, as known in the UK, are responsible for fire safety and evacuation. They are especially trained to combat fire and assist in fire safety processes at businesses and other organizations, with greater emphasis on the employee safety.
Fire Marshal Training involves a deep study about all the aspects related to fire, the use of fire extinguisher, and so on. It requires careful steps and a planned approach to ensure maximum safety. Furthermore, Fire Marshal Training focuses on strategies to carry out immediate measures and successful evacuation activities.
Therefore, it is highly recommended to adopt the necessary Fire Marshal Training techniques and enable a safe and healthy workplace.
Health and safety training contributes greatly in leading successful commercial processes. It assists in:
Ensuring a suitable work atmosphere and hygienic conditions for the workers to avoid injuries and illness.
Establishing a constructive health and safety culture, where safe working becomes a daily practice.
Meeting the employer’s obligation to provide protection to his employees, as per the law.
Hence, it is absolutely imperative to set up a defined health and training programme to ensure a secured work environment.
On the other hand, when it comes to the risks associated with health & safety, a thorough health and safety risk assessment becomes a must. The health & safety risk assessment involves a detailed study of the responsible factors that might cause damage to the people. This evaluation helps in taking trenchant precautions to curb the possible hazards.
Carrying out health and safety risk assessment must be steady and uncomplicated and should involve the employees to gather more and more useful ideas.
The health & safety risk assessment involves 6 crucial steps, namely:
Identifying the health & safety hazards.
Determining the people who might be harmed and affected.
Recognizing the reasons and risks that might harm the people.
Evaluating these risks and accordingly setting precautionary measures.
Recording the findings and executing them systematically.
Reviewing the assessment and revising it if required.
Thus, with the above mentioned approach, health and safety risk assessment can provide safe protection to not only your employees, but also to you.
Other useful techniques to combat the destructive work hazards effectively:
Manual Handling Training:
Most of the occurring injuries at work take place due to faulty manual handling, which involves the transport or the support of loads by either hands or physical force. The key point to be noticed is that these injuries can arise at every workplace; be it a factory, building site, hospital, laboratory, warehouses, and other workplaces. Hence, it is urgently essential to adopt effective manual handling training to prevent these manual handling dangers.
Manual handling Training requires careful considerations to be taken regarding the nature of work. Manual handling should be made comfortable or preferably avoided as much as possible to restrict the possibility of the arising injuries. Wherever required, establishing substitutes to manual handling like building pipes for liquid flow, using gravity to enable downward movement of the materials, etc. can play a helpful role in manual handling training.
Moreover, manual handling training needs constant technological upgradation and regular assessment so as to make necessary alterations in the training programme. This will ensure better health and safety prospects for the employer and the employees alike.
Fire Marshal Training:
Fire hazards are other treacherous risks that can occur at a workplace. For instance, problems may arise in the electrical systems or the appliances that can lead to fatal accidents. In such cases, it is vital to implement fire marshal training with no waste of time. Fire marshals or fire wardens, as known in the UK, are responsible for fire safety and evacuation. They are especially trained to combat fire and assist in fire safety processes at businesses and other organizations, with greater emphasis on the employee safety.
Fire Marshal Training involves a deep study about all the aspects related to fire, the use of fire extinguisher, and so on. It requires careful steps and a planned approach to ensure maximum safety. Furthermore, Fire Marshal Training focuses on strategies to carry out immediate measures and successful evacuation activities.
Therefore, it is highly recommended to adopt the necessary Fire Marshal Training techniques and enable a safe and healthy workplace.
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