Insurance.Docx

{ remove:g} {draw: instal} {draw: retch} Table of contents Table of Contents { school schoolbook:bookmark-start} { textual matter:bookmark-end} {text:bookmark-start} 1. Overview of indemnification policy {text:bookmark-end} {draw:frame} policy is a contr figure push finished and through amongst two parties whereby one troupe agrees to undertake the put on the line of another in exchange for servant known as premium and promises to pay a located sum of cash to the other caller on contingency of an ambiguous grammatical shimmy (death) or after the expiry of a certain termination in case of life indemnity or to reanimate the other party on hazard of an uncertain pillowcase in case of general indemnity. The party bearing the peril is known as the insurer or assurer and the party whose danger is cover is known as the insured or assured. restitution provides financial certificate measure against a loss arising out of calamity of an uncertain event. A person can avail this protection by paying premium to an insurance company. A jackpot is created through contributions made by persons seeking to protect themselves from public risk. premium is collected by insurance companies which also act as trustee to the pool. Any loss to the insured in case of happening of an uncertain event is paid out of this pool. following figure explains the mechanism of insurance. Insurance works on the introductory principle of risk-sharing.

A great advantage of insurance is that it spreads the risk of a few people over a deep group of peopl e exposed to risk of kindred geek {t! ext:bookmark-start} 2. Types of Insurance {text:bookmark-end} Insurance is of two types: animation Insurance Non – Life Insurance or universal Insurance {text:bookmark-start} {text:bookmark-start} {text:bookmark-start} 2.1 Types of general insurance {text:bookmark-end} {text:bookmark-end} {text:bookmark-end} car *I*nsurance* :*- Auto insurance protects you against financial loss if you have an accident. It is a lease between you and the...If you want to get a full essay, ordain it on our website: BestEssayCheap.com

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