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  • Needs and InsuranceRisks arise because there are needs to be fulfilled. The risks attached to early death arise because of the need to maintain the family that is left behind. If there were no needs, there would be no risks. Insurance is therefore, related to the needs...
  • Advantage of Insurance
    on Dec 7, 2011 in Advantage of Life Insurance
    Advantage of Insurance:Life Insurance has no competition from any other business. Many people think that life insurance is an investment or a means of saving. This is not a correct view. When a person saves, the amount of funds available at any time...
  • What is an Insurance Premium
    on Dec 5, 2011 in Insurance Premium
    What is an Insurance Premium: The Insurance Premium is calculated on the basis of assumptions relating to future experiences on mortality, interest rates and expenses. These assumption are based on the insurer's own experience in the past and therefo...
  • What is Premium
    on Dec 4, 2011 in Insurance Premium
    In a contract of insurance, the insurer promises to pay to the policy holder a specified sum of money, in the event of a specified happening. The policy holder has to pay a specified amount to the insurer, in consideration of this promise."Premium" i...
  • Role of Insurance in Economic DevelopmentFor economic development, investments are necessary. Investment are made out of savings. A life insurance company is a major instrument for the mobilization of saving of people, particularly from the middle and lower income groups. These saving are c...
  • Business of Insurance
    on Dec 2, 2011 in Insurance Bussiness
    Business of Insurance of Companies are called insurers. The Business of insurance is to (a) bring together persons with common insurance interests (sharing the same risks), (b) collect the share or contribution (called premium) from all of them, and...
  • The Human Asset
    on Dec 1, 2011
    The Human Asset: A human being is an income generating asset. One's income generating ability depends on one's skills, (manual, professional, problem solving, entrepreneurial, etc). These are the assets. The value of the asset can be measured by cons...
  • How Insurance Works
    on Dec 1, 2011
    How Insurance Works:The mechanism of insurance is very simple. People who are exposed to the same risks come together and agree that, if any one of them suffers a loss, the other will share the loss and make good to the person who lost. All people wh...
  • Classification of Risk
    on Dec 1, 2011
    Classification of Risk:Risks are classified in various ways. One Classification is based on the extent of the damage likely to be caused. Critical or Catastrophic risks are those which may lead to the bankruptcy of the owner. It Would happen if the...
  • History of Insurance
    on Nov 30, 2011
    History of Insurance: Insurance has been known to exist in some form or other since 3000BC. The Chinese traders, traveling treacherous river rapids would distribute their goods among several vessels, so that the loss from any one vessel being lost, w...
  • Need of Insurance
    on Nov 30, 2011
    Need of Insurance:Assets are insured, because they are likely to be destroyed or made non-functional before the expected life time, through accidental occurrences. Such Possible occurrences are called Perils. Fire, floods, breakdowns, lightning, eart...
  • What is Insurance
    on Nov 29, 2011
    What is Insurance:The business of insurance is related to the protection of the economic values of assets. Every Asset has a value. The asset would have been created through the efforts of the owner. The asset is valuable to the owner,because he expe...