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What Is Insurance And Its Types Pdf

what is insurance and its types pdf

File Name: what is insurance and its types .zip
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Published: 04.05.2021

In life, any unexpected situation can disrupt your family's well-being. For such scenarios, different types of life, health and general insurance policies are available in India that offer comprehensive financial protection to your loved ones and yourself. At the same time, you can opt for an insurance cover to protect your assets and property.

Insurance Definition Types Benefits Features India

Insurance is a means of protection from financial loss. It is a form of risk management , primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier or an underwriter. A person or entity who buys insurance is known as an insured or as a policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship. The insured receives a contract , called the insurance policy , which details the conditions and circumstances under which the insurer will compensate the insured.

Types of Insurance

Life insurance is a contract that offers financial compensation in case of death or disability. Some life insurance policies even offer financial compensation after retirement or a certain period of time. You either make a lump-sum payment while purchasing a life insurance policy or make periodic payments to the insurer. These are known as premiums. In exchange, your insurer promises to pay an assured sum to your family in the event of death, disability or at a set time. Life insurance can help you support your family even after retirement.

Insurance is the most effective risk management tool which can protect individuals and businesses from financial risks arising out of various contingencies. The emotional and psychological loss can never be compensated, but at least the financial loss can be compensated with insurance. Though there are uncertainties in life which you cannot mitigate, but insurance will surely help you transfer the financial risk associated with the same. Insurance is a legal contract between two parties- the insurance company insurer and the individual insured , wherein the insurance company promises to compensate for financial losses due to insured contingencies in return for the premiums paid by the insured individual. In simple words, insurance is a risk transfer mechanism, where you transfer your risk to the insurance company and get the cover for financial loss that you may face due to unforeseen events. And the amount that you pay for this arrangement is called premium.

what is insurance and its types pdf

7 Types of Insurance

The major types of life insurance contracts are term, whole life, and universal life, but innumerable combinations of these basic types are sold. Term insurance contracts, issued for specified periods of years, are the simplest. Protection under these contracts expires at the end of the stated period, with no cash value remaining.

Types of Insurance for the Individual

Кругом стояла тишина, и эту тишину вдруг нарушил чей-то голос. Кто-то звал. Он попытался оторвать голову от пола. Мир кругом казался расплывчатым, каким-то водянистым. И снова этот голос. Он присел на корточки и в десяти метрах от себя увидел чей-то силуэт. - Мистер.

 Ассоциативный ряд? - по-прежнему недоумевал Дэвид. - Стандартная для АНБ процедура. Мне нужно знать, с кем я имею.  - Глаза ее смотрели сурово.  - Доктор. - Зюсс.  - Он пожал плечами.

 Что. Этого не может. Он заперт внизу. - Нет. Он вырвался оттуда.

 Нуда, конечно… С удовольствием. Беккер достал блокнот.

Внезапно откуда-то появился пожилой человек, подбежал к Танкадо и опустился возле него на колени. Халохот замедлил шаги. Мгновение спустя появились еще двое - тучный мужчина и рыжеволосая женщина. Они также подошли к Танкадо. - Неудачный выбор места, - прокомментировал Смит.

Types of Insurance

Если цена не превышала тысячи долларов, Фонтейн никак не реагировал. Тысчонка за сеанс.

Сотрешь всю электронную почту Хейла. Все, что относится к его переписке с Танкадо, где упоминается Цифровая крепость. - Хорошо, - сказала Сьюзан, стараясь сосредоточиться, - я сотру весь накопитель Хейла. И все переформатирую.

5 Comments

  1. Germaine M.

    05.05.2021 at 08:40
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  2. Florus B.

    07.05.2021 at 07:10
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    In addition, it's important to note that an insurance policy is a legally binding insurers will make some kinds of insurance (such as earthquake insurance in.

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  5. Balthazar C.

    12.05.2021 at 01:03
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    Certain terms are usefully defined at the outset.

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