Professional insurance for lawyers / law firms
Querist :
Anonymous
(Querist) 03 November 2011
This query is : Resolved
What is the role of professional insurance in India for lawyers and Law firms. Is it a criteria for getting foreign assignments.
Regards
Shonee Kapoor
(Expert) 03 November 2011
Means????
Did not get the query.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Advocate. Arunagiri
(Expert) 03 November 2011
Mr.Shonee,
In some of the foreign countries, they have professional insurance. If there is any income loss in their job or profession the insurance company will protect the loss.
I dont think the professional insurance is implemented in India.
prabhakar singh
(Expert) 04 November 2011
Such insurance packages are still not available in India.
@Mr.Shonee!
Highly compensated Professionals often consider building additional benefit structures into their financial strategies. Though the monthly maximum benefit for Personal Disability Insurance is often $10,000 a month (or in some cases $15,000 a month), there are several ways for physicians, dentists, or other highly compensated professionals to obtain more monthly benefits.
There are two ways to increase overall Monthly Benefits in the event of a Disability include: protecting Retirement Plan Contributions and Payments to Tax-Advantaged Cash Accumulation Vehicles.
Querist :
Anonymous
(Querist) 04 November 2011
Thanks a lot to all of you, but I had one more small query related to legal profession.
If legal drafting is done from India for a foreign firm, is it permissible keeping in view of Bar Regulations in India. Please explain.
Regards
Sailesh Kumar Shah
(Expert) 04 November 2011
Of course, you shall follow the rules and regulations of the BCI.
Querist :
Anonymous
(Querist) 04 November 2011
Drafting job from foreign law firm can be undertaken or not. Please clarify.
Thanks in advance & Regards
Sailesh Kumar Shah
(Expert) 04 November 2011
Advocate act and rules of bci is silent about this. So, you can do drafting work.
