especially the insurance part, I was reminded of the advice that I offer to family, friends, and clients regularly. I would never want to sound like your typical salesman, in fact I make it a point not to; but my number one concern is that the people I love and care for are adequately and appropriately covered. I always try to provide my clients with all of the knowledge up front so that they can make their best decisions based on their individual or family needs. As an insurance agent, I am not
INTRODUCTION INSURANCE Insurance means equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a risk management form primarily used to hedge against the risk of uncertain loss. An insurer is selling the insurance; the insured is the person buying the insurance policy. The money to be charged for a certain amount of insurance coverage is called the premium. The insured receives a contract which is called the insurance policy, it details with
reason why people normally insure their property and even their loved ones. You will note that there are several insurance companies that you can choose from. It is important that you choose a good insurance company in order to insure your property or your loved ones. Insurance coverage basically covers several things. It can protect you, your family and so forth. You will note that the insurance company can help you pay medical bills, auto damages and even losses in the event of fire and other natural
coping with risk. Crop insurance is a coping mechanism and ex-ante adaptation measure by which risk is transferred from the insured to the insurer. Crop insurance compensates the farmer if there is ultimate crop failure in spite of all the precautionary measures taken by him. In this mechanism, a payment of a certain small amount of premium ensures usually the receipt of a larger amount of compensation depending upon the occurrence of an uncertain loss event. Thus, insurance involves the substitution
result in disability. Therefore, we need an insurance to solve this problem. Insurance can be defined as an economic institution based on the principal of mutuality, form for a purpose of establishing a common fund, the need for which arise from chance occurrences of nature, whose probability can be estimated. When you buy an insurance policy, you are transferring the risk of a potential financial loss to the insurance company in exchange for a fee. The insurance company, in return, promises to provide
coverage while the first regulations of maritime insurance can be found in the Talmud. Talmud regulates that the owner who loses a ship without own fault has the right to get a new ship from the shipping community (Andrijašević and Petranović 1999). The first known insurance contract dates back to 1347 and is concluded in the form of notary document. The first insurance policy dates back to 1384, and was published in Pisa. Foundations of life insurance date back to the Middle Ages. Guilds were paying
the risk of the loss of life – “Life Insurance”. The concept of life insurance is existing in the mankind since the medieval historic age, the soldier those who loose their life in battle, their dependent were provided certain sum of money so that they can move their life. But the concept has been changed in todays world, the purpose of Insuring is not only cover of risk but also investment, tax benefit , savings etc. Insurance provides you with that unique sense of
can insure your car and save money at the same time The car insurance is the contract between the car owner and the insurance company. The owner of the car agrees to pay the premium amount and the company agrees to pay for the losses that are mentioned in the insurance policy document. Depending on the country and the location, certain terms of the car insurance might vary depending on the legal regulations. Some lower degree car insurance might offer additional benefits like the sustained from the
Motor Insurance Motor insurance covers all damages and liability to a vehicle against various on-road and off-road emergencies. A comprehensive policy even secures against damage caused by natural and man-made calamities, including acts of terrorism. Motor insurance offers protection to the vehicle owner against: • Damage to the vehicle • It also pays for any third party liability determined by law against the owner of the vehicle Motor insurance is mandatory in India as per the Motor Vehicles
Life Insurance - Identify Your Rights Life insurance is one of kind investment option. Not only does it help you build corpus in the long run to take care of your loved ones, but also is one of best tax saving options. Life insurance when done right can bring in a lot of benefits. But is everyone aware of the right, terms and conditions that it beings along? Why is Life Insurance So Important? Life insurance is not a single plan. There are several kind of insurance plans and you need to figure out