Training on General Insurance for BYST entrepreneurs by Mr. Neelakanth Phadke
on 3rd Sep 2005 @ Pune region
I

Mr. Neelakanth Phadke conducted a training program on “General Insurance” for the BYST entrepreneurs. The training programme was conducted at the BYST premises only. Ms Poonam R Bajpai executive officer BYST, gave the introductory remark. Then everybody gave the self-introduction.

Mr Phadke started by defining the insurance then he explained long term & short term benefits of insurance. He spoke about the commission on life insurance. He told that there is 35-40 % commission is there on life insurance. Then he told about the various categories of insurance benefits; accidental, natural, and suicidal.
He then explained about the various policies of insurance by giving example of using honesty in ones life. He urged to entrepreneur for following honesty in life because honesty is best policy. Some important policies he explained are mentioned below-

Indemnity policy: as we all know that when problem comes it does not inform us, & when it comes brings other obstacles also. So to it is very important to have indemnity policy to be safe. He gave an example of JAPAN to explain this policy. Japan is the capitalized country there is no much difference in salary of top level person & low level person. They people follow the humanitarian principle. All the companies provide their employee with indemnity policy.

Mediclaim Policy: it is a must have for every one. For Rs50000/- one has to pay Rs700/- to 800/- as premium annually. If somebody has heart related problem then he could not take mediclaim policy.

After knowing about the mediclaim policy entrepreneurs asked so many questions to Mr Phadke & he answered each question asked very satisfactorily. There are different rules & regulations of insurance for different businesses.

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