Insurance is done for the purpose of accidental damage or theft in any case. There are certain things we need to consider before we go ahead and apply for insurance for our car. There is a list of factors which the car insurance providers will
Assignment 3: Life Insurance is a mandatory life policy that one needs to procure. It can be defined as a contract between an insurance policy holder (the insured) and the insurance company (insurer), where the insurer undertakes to pay a sum of money plus the interest accrued to the insured’s beneficiaries upon their death, in exchange for premiums. This article will discuss the life policy with specific reference to endowments, disability insurance, retirement annuities and income protection. Life Policy: The life insurance policy certifies that one’s dependents are financially secure in the event of the insured’s death or disability. The life policy substitutes the insured’s income with a lump sum, enabling the dependents of the insured
Liability insurance policies are generally different from all the other insurance policies as they are complex to cover. Therefore the underwriters must be familiar with the liability risks that are likely to be associated and affect commercial businesses, individuals and professionals. Therefore this generally means the underwriters have to be updated about the liability laws and court trends in order for them to be able to accurately distinguish between high risk applicants and the rest. Future risk must also be determined hence to avoid reoccurrence, past losses and judgments have to be taken into account when underwriting. There are a number of basis that are used some of them highlighted below with the drawbacks that the underwriters face
Life insurance Coverage (or commonly final expense insurance or life assurance, mainly in the Commonwealth) is often a contract between an insured (insurance Coverage holder) as well as an insurer or assurer, the location where the insurer plans to pay a delegated beneficiary a amount of money (the "benefits") in substitution for a limited, upon the death from the insured person.With respect to the contract, other events including like terminal illness or critical illness may also trigger payment. The Insurance policy holder typically pays Resonably limited, either regularly or Jointly lump sum payment. Other outlays (For example funeral expenses) may also be within the benefits. Life plans are legal contracts as well as the Contract terms
The general idea about getting an insurance coverage is to ensure protection for the insured in exchange of a given amount of money as premium. Flood insurance is no exception, with some limitations though. Here are the details. Fact: the premiums of flood insurance policies depend on the result of the applicant’s risk analysis. If the house and its contents are very expensive and also the house’s location and other topographical features deem necessary then the policy can be a costly one.
The other shareholders namely, Eileen, Li Rong and Emily will not be liable. (c) Advise Karen and Eileen whether they would be successful in amending RRF’s constitution, and ultimately proceeding with the investment plan. [6 Marks] Law Entrenching provisions may be inserted upon formation of the company or anytime thereafter. It can only be inserted in the constitution after the formation of a company, provided all the members in the company agree. S.26(4) CA states that an entrenching provision is a provision which stipulates that other specified provisions may not be altered in the manner provided by the CA, or may not be altered except by a majority greater than ¾ or where other specified conditions are met.
Realizing that the facts that all forms of loss cannot be made good, thus, the most possible way to reduce the risk is through the purchase of insurance. Insurance is a process of pooling of risk of the participants and policyholders. Basically, the losses suffered by the participants is spread to and borne to many. The primary function of insurance is to act as a risk mechanism. Through
UNDERSTANDING INSURANCE CLAIM LEAKAGE Finance experts say that having an insurance is a wise investment move. Among the benefits it can give you are: risk coverage, protection against unforeseen expense, secured future, and the list goes on. Almost anything can be insured these days: real properties, automobiles, appliances, health, life, disablity – you name them all. There are even rumors that celebrities insure some of their asset body parts! Why do people want to be insured?
However, this is not the only importance of insurance. You are required by law to purchase automobile insurance, also by car lots and finance institutions. Auto insurance may be considered too expensive for some buyers, but it is important to have in the event of an accident. Insurance is something you do not want to be caught without. In reference to house insurance, who does not want their home, belongings, and memories protected?