In a life assurance contract, the claim is payable to the life assured on happening of an event. This claim is paid against the premiums paid by the proposer in a specific mode. The rates of this premium forms an important part of life assurance...

Reinsurance

Reinsurance is a procedure in which an insurance company enters into a contract with another insurance company. The later insurance company is known a Reinsurance company. Under this contract, the insurance company has the right to transfer all or...

Insurance, one of the glorious branch of financial department is growing everyday.Because of the vast area of insurance,there are numerous policies to pick.Since,in today's world insurance is very important one for everybody.We can get insured...

5 tips to save money on your car insurance

Car insurance differs from life insurance or health insurances in one aspect; it is mandatory while the latters are not. That being said, if you think you are in good health you may not opt for a health insurance (but that is not advisable anyway)....

Are you going for a life insurance? Congratulations, because many of us still do not understand the necessity of taking a life insurance. I often hear excuses like I do have dependants so I do not need to go for a life insurance at all, or I would...

Key Man Insurance

  Today, rapid growth and development is taking place in almost every business sector of the country. This has resulted in great demand of technicians and experienced managers. Since these are the persons responsible for the growth and development...

Health Insurance

Health insurance is popularly known as mediclaim. It is one of the most rapidly growing sectors in India. In many developed countries, health insurance works as an independent kind of insurance. Health insurance is made compulsory and legally...

Insurance Claim Management

  The last stage of an insurance contract is claims. The main formula of an insurance contract is, “You pay the premium and if any mishap happens then I will give you compensation in the form of claim.” Hence claim is the soul of insurance...

Online policies save you premium: buy online

Time to buy an online policy We can see that people are opting for online shopping in different areas particularly where they do not have to bargain and are sure that the price they are paying for the particular item is competitive mostly in...

  సాధారణంగా  ఈ రోజుల్లో ప్రతి ఒక ఉద్యోగి భీమ పాలసి కట్టకుండ లేరు.  చాల మంది ఒక పాలసి కాకుండా అనేక పాలసీల తోటి డబ్బును పొదుపు చేస్తున్నామని అనుకొంటారు. కాని అది తప్పు. అంతే కాకుండా దీర్ఘకాలిక ఎండోమెంట్ పాలసీలతోటి తాము ధీమాగా ఉన్నామని అనుకుంటారు....

Insurance as a Risk Transfer Mechanism

  Three important principles from the foundation for the risk transfer mechanism of Insurance:   Sharing the losses of the Unfortunate Few by Many A large amount of people who face the same risks have been grouped together and the risk suffered...

Classification of Risks

Risks can be classified according to their origin and consequences.  Pure Risks Pure Risks are associated with uncertainties which may cause loss. In a pure risk situation, either a loss occurs or no loss occurs – there is no possibility for...

Accidental Insurance - must for everyone

  Accident means an unexpected or sudden event which occurs by violent or external means and results in body injuries. It does not include prolonged illness or disease. It is unknown and can happen anytime, anywhere and by any means. It is easier...

Insurer and Insurable Risks

  To the layman, risk means exposure to danger. The process of managing risk is called Risk management.The importance of Risk management has been recognised and organisations now employ risk managers to specifically manage the risk. Insurance, as...

Death - Survivor - Executor Tips and Regulations

Death-Survivors - Tips and Cautions. Death of a person close to you is always sad and emotional. Unfortunately, within a short time after death, many are contained. Possibly there is a will, or is an executor of the wishes of the deceased informed....

Changes in Indian Insurance Industry

From 1st September , 2010 onwards a lot of changes has happened in insurance industry. IRDA realized the need of a long term investment portfolio in case of ULIP products. Now a minimum of 5 years lockin has been introduced. Also the various...

Basics Of Life Insurance

LIFE INSURANCE Basics Of Life Insurance  The purchase of Life Insurance is one of the most important decision that one makes in his/her lifetime.When one doesn't care about owning a Life Insurance he/she is making a big mistake. When one doesn't...

Insurance Claims

OBJECTIVES At the end of this lesson,the student should have understood .The procedures follwed for settlement of claims under line insurence policies .Therationa;e behind such procedures .The risks and necessary safeguards to be aplied while...

Property Insurance

Under the property insurance property of a person/persons ae insured against a certain specified risk. The risk may be fire or marine perils,theft of property or goods,damage to property at accident. (a) Marine Insurance. Marine insurance provides...

KINDS OF INSURANCE FROM RISK POINT OF VIEW

1.Personal Insurance The personal insurance includes insurance of human life which may suffer loss due to death,accident and dease. Therefore the personal insurance is further sub-classified into life insurance,personal accident insurance and...

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