insurance is safe guard machine. It is free style to how u can live without tension. And u wil sure protect your family against you. Today more company is working in insurance sector. But only one is trustable l.i.c of india
Wednesday, September 21, 2011
Saturday, August 27, 2011
life insurance
insurance is best way of risk of life and its make to be sure your family and its make to fine and tension free of your family and future and its make to dontworry of your life.
insure is best way and today many company of life insurance some give more benifit and risk free of life.
1. life insurance of india
2. bajaj allince
3. icici produntal
4. tata aig
5. relicence life
insure is best way and today many company of life insurance some give more benifit and risk free of life.
1. life insurance of india
2. bajaj allince
3. icici produntal
4. tata aig
5. relicence life
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Earn upto Rs. 9,000 pm checking Emails. Join now!
Sunday, May 22, 2011
INSURANCE PROGRESS
15. The mechanism of insurance is very simple people who are exposed to the same risks come together and agree that it any one of htem surer a loss the others will share the loss and make good to the person who lost. All people who send goods by ships are exposed to the same risks. Which are related to water damage sinking of the vessel piracy etc. those owning factories are not exposed to these risks.fire hailstorms earthquakes. Llike this different kings of risks can be identified and separate groups maden including those exposed to such risks. By this method the heavy suffer such losses at the same thime is divided into bearable small losses by all the others in the group. In other words the risk is spread among ther community and ther likely big impact on one is reduced to smaller manageabnle impacts on all. Insurance helps to spread the costs on risks.
16. if a jumbo jet with more that 350 passenger crashes the loss would run into several crores of rupees. No airline would be able to bear such a loss. It is unlikely that many jumbo jets will crash at the same time. If 100 airline companies flying jumbo jets come panies flying jumbe ojets come together inro an insureanc3e pool when ever one of the jinbo jets come together in to an insurance pool whenever one of the jumbo jets in the pool crashes the loss to be borne by each airline would come down to a few lakhs of rupees .thus insurance is a business of sharing. It makes an unbearable loss.bearable….
17. there are certain principles whick make it possible for insurance to remain a preferred and fair arrangement. The first is that it is difficult for any one individual to bear the consequences of the risks that he is exposed to. It will become bearable when the community shares the burden./ the second is that the per8l should occur in an accidental manner. Nobldy should be in a position to make the risk happened. In other words none in the grup should set fire to his assets and ask other to share thate loss. This wold be taking unfair advantage of any arrangement put into place to protect people from the accidental risks they are exposed to. The occurrence has to be random accidental and not the deliberate creating of the insured person.
18. the manner in which the loss is to be shared can be determined beforehand. It can be equal among all. It can also be proportional to the risk that each person is exposed to. The trader who has sent rs. 100 lacks worth of goods on a ship will bear double ther loss to be borne by another trader who has got rs.50 lakhs worth of goods on the same ship. Current practice is to make the sharing proportional to the exposure to risk. The share could be collected from the members after the loss has occurred or the likely shares may be collected in advance at the time of admission to the grop. Insurance companies
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16. if a jumbo jet with more that 350 passenger crashes the loss would run into several crores of rupees. No airline would be able to bear such a loss. It is unlikely that many jumbo jets will crash at the same time. If 100 airline companies flying jumbo jets come panies flying jumbe ojets come together inro an insureanc3e pool when ever one of the jinbo jets come together in to an insurance pool whenever one of the jumbo jets in the pool crashes the loss to be borne by each airline would come down to a few lakhs of rupees .thus insurance is a business of sharing. It makes an unbearable loss.bearable….
17. there are certain principles whick make it possible for insurance to remain a preferred and fair arrangement. The first is that it is difficult for any one individual to bear the consequences of the risks that he is exposed to. It will become bearable when the community shares the burden./ the second is that the per8l should occur in an accidental manner. Nobldy should be in a position to make the risk happened. In other words none in the grup should set fire to his assets and ask other to share thate loss. This wold be taking unfair advantage of any arrangement put into place to protect people from the accidental risks they are exposed to. The occurrence has to be random accidental and not the deliberate creating of the insured person.
18. the manner in which the loss is to be shared can be determined beforehand. It can be equal among all. It can also be proportional to the risk that each person is exposed to. The trader who has sent rs. 100 lacks worth of goods on a ship will bear double ther loss to be borne by another trader who has got rs.50 lakhs worth of goods on the same ship. Current practice is to make the sharing proportional to the exposure to risk. The share could be collected from the members after the loss has occurred or the likely shares may be collected in advance at the time of admission to the grop. Insurance companies
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Friday, May 20, 2011
indian insurance
12. A third classification is between dynamic and static risks. Dynamic risks are caused by perils whick have national consequence, like inflation calamities technology, political upheavals, etc. Static risks are caused by perils which have no consequence on the national exonomy like a fire or theft or misappropriation.
13. Fundamental risks are those that affect large populatins while particular risks affect only specific persons. A train crash is a fundamental risk while a gheft is a particular risk. Life Insurance business deals with particular rish but fundamental risks aggect the life insurance company’s expericenc. As many persons will be aggected at the same time, when there is an. Earthquake, flood or riot.
13. Fundamental risks are those that affect large populatins while particular risks affect only specific persons. A train crash is a fundamental risk while a gheft is a particular risk. Life Insurance business deals with particular rish but fundamental risks aggect the life insurance company’s expericenc. As many persons will be aggected at the same time, when there is an. Earthquake, flood or riot.
LIFE IS BIG
10. 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 it the losss is total like in a tsunami, wiping out everything. It can also happen if the deceased person was heavily in debt. Important risk may not spell doom. But may upset family or business finances badly, requiring a lot of time to recover. The adverse effects of an economic recession is one such. Less damaging are unimportant risks, like remporary illness or accidents.
11. Another classification is beteen Finanacial and non financial risks, referred to in an earlier paragraph. Insurance is concerned with only finanacial risks.
12. A third classification is between dynamic and static risks. Dynamic risks are caused by perils whick have national consequence, like inflation calamities technology, political upheavals, etc. Static risks are caused by perils which have no consequence on the national exonomy like a fire or theft or misappropriation.
13.
11. Another classification is beteen Finanacial and non financial risks, referred to in an earlier paragraph. Insurance is concerned with only finanacial risks.
12. A third classification is between dynamic and static risks. Dynamic risks are caused by perils whick have national consequence, like inflation calamities technology, political upheavals, etc. Static risks are caused by perils which have no consequence on the national exonomy like a fire or theft or misappropriation.
13.
Thursday, May 19, 2011
LIFE INSUREANCE
5. Late , were established the cooperative assurance in Lahore, the Bombay life (originally called the swedeshi life). The Indian mercantile, the new India and the Jupiter in mumbai and lakshmi in new delhi.these were all Indian companies started as a result of the swadeshi movement in the early 1900s. by the year 1956. when the life insurance business was nationalized and the life insurance corporation of India (lic) was formed on 1st September 1956, there were 170 companies and 75 provident fund societies transaction life insurance business in India. After the amendments to the relevant laws in 1999, the L.I.C. did not exclusive privilege of doing life insurance business in India by 31.8.2007, sixteen new life insurers had been registered and were transacting life insurance business in India.
6. assets aare insured because they are likely to be destroyed or made non- functional before the expected life time. Through accident at occurrences such possible occurrences are called perils, fire, floods, breakdowns, lifhtring, earthquakes, etc. are perils. It such perils can cause damage to the asset, we say that the asset is exposed to that risk. Perils are the events. Risks are the consequential josses or damages. The risk to a owner of a building, because of the peril of an earthquake may be a few lakhs or a few crores of rupees, depending on the cost of the building the contents in it and the extent of damage.
7. the risk only means that there is a possibility of loss or damage. The damage may or may not happen. The earthquake may occur, but the building may not have been affected at all. insurance is done against the possibility that the damage may happen. There has to be an uncertainty about the risk. The word possibility implies uncertainty. Insurance is relevant only if there are uncertainties. If there is no uncertainty about the occurrence of an event, it cannot be insured against. In the case of a human insured, being death is certain but the time of death is uncertain. The person is insured, because of the uncertaint. about the time of his death. In the case of a person who is terminally ill. The time of death is not uncertain, though exactly known. It would be soon. He cannot be insured.
8. insurance does not protect the asset. It does not prevent its loss due to the peril. The peril can not be avoided through insurance. The risk can sometimes be avoided through better safety and damage control measures. Insurance only tries to reduce the impact of the risk on the owner of the asset and those who depend on that asset. They are the ones who benefit from the asset and therefore, would lose, when the asset is damaged. Insurance only compensates for the losses and that too, not fully.
9. only exonomic consequences can be insured. It the loss is not financial insurance ma not be possible. Examples of not economic losses are love and affection of parents., ledadership of managers, sentimental attachments of family hei
rlooms, innovative and creative abilities, etc.
10. risks are classified in various ways. One classification is based on the
6. assets aare insured because they are likely to be destroyed or made non- functional before the expected life time. Through accident at occurrences such possible occurrences are called perils, fire, floods, breakdowns, lifhtring, earthquakes, etc. are perils. It such perils can cause damage to the asset, we say that the asset is exposed to that risk. Perils are the events. Risks are the consequential josses or damages. The risk to a owner of a building, because of the peril of an earthquake may be a few lakhs or a few crores of rupees, depending on the cost of the building the contents in it and the extent of damage.
7. the risk only means that there is a possibility of loss or damage. The damage may or may not happen. The earthquake may occur, but the building may not have been affected at all. insurance is done against the possibility that the damage may happen. There has to be an uncertainty about the risk. The word possibility implies uncertainty. Insurance is relevant only if there are uncertainties. If there is no uncertainty about the occurrence of an event, it cannot be insured against. In the case of a human insured, being death is certain but the time of death is uncertain. The person is insured, because of the uncertaint. about the time of his death. In the case of a person who is terminally ill. The time of death is not uncertain, though exactly known. It would be soon. He cannot be insured.
8. insurance does not protect the asset. It does not prevent its loss due to the peril. The peril can not be avoided through insurance. The risk can sometimes be avoided through better safety and damage control measures. Insurance only tries to reduce the impact of the risk on the owner of the asset and those who depend on that asset. They are the ones who benefit from the asset and therefore, would lose, when the asset is damaged. Insurance only compensates for the losses and that too, not fully.
9. only exonomic consequences can be insured. It the loss is not financial insurance ma not be possible. Examples of not economic losses are love and affection of parents., ledadership of managers, sentimental attachments of family hei
rlooms, innovative and creative abilities, etc.
10. risks are classified in various ways. One classification is based on the
LIFE INSURANCE
INTODUCTION TO INSURANCE
at the end of this lession the student shoul have understood
1. the basic concepts relation to insurance business.
2. The meaning s of the worlds peril and risk.
3. Different kinds of rishs
4. the ways of managing risks.
5. Importance of insurance in society and economy.
WHAT IS INSURANCE :-
1. The Business of insurance is related to the protection of the economic values of assets. Every asset has a velue would have been created through the efforts of the owner. The asset is valuable to the owner, ecause it meets some ot his needs. The benefit may be an income or in some other form. In the case of a factory or a cow, the product generated by it is sold and income is generated. In the case of a motor cas, it provides comfort and convenience in transportation. There is no direct income. Both are assets and provide benifits.
2. Every asset is expected to last for a certain period ot ththim during which it will provide the benefits. After that the benefit may not be available. There is a life time for a machine in a factory or a cor or a motor car. none of them will last for ever. The owner is aware of this and he can so manage his affairs that by the end of that perid or life time. a substitue is made available. Thus he makes sure that the benefit is not lost. However, the asset may get lost earlier. An accident or some other unfortunate event may destroy is or make it incapable or giving the benefits. An epidemic benefits therfrom, would be deprived ot the benefits. the planned substitue would not have been ready . There is an adverse or unplsasant situation. Insurance is a mechanism that hels to reduce the effict of such adverse situation. It promises to pay to the owner or beneficiary ot hte asset a certain sum if the loss occur.
3. Insurance has been known to exist in some form or other since 3000 bc. The chinese traders , traveling treacherous river rapids would distribute their goods among serveral vessels so that the loss from any one vessel traders would agree to pay additional sums to lenders as the price for writing off the loans, in case of the shipment being stolen. the inhabitants of Rhodes adopted the principle of gernral average whareby if goods are shipped togetheer the owners would bear the losses in proportion of loss occures. due to jettisoning during distress. CCaptains of ships caught in storms would throw away some of the cargo to reduce the weight and restore balance. Such trtowing away is called hettisoning ) the greeks had stared benevolent societies in the late 7th century AD ti take care of the funeral and families of members who died. The friendly societies of England were similarly constituted. The Great Fiire of London in 1666 in which more that 13000 houses were lost, gave a boost to insurance and the firest fire insurance company. called the fire office was statedd in 1680.
4. The origins of insurance business as in vogue at present is traced to the lloys coffee house in loand. traders who used tio gather in the lloyds coffee house in london agreed to share the losses to theri good while robbed on the high seas or becase of bad weather. spoiling the goods or sinking the ship. In India insurance began in 1818 with life insurance beaing transcted by an English company the oriental .ife insurance co. ltd. the first indian insurence company was the Bombay Mutual Assurance Society Ltd. formed in 1870 in Mumbai. This is folloed by the bharat Insuirance co in 186 in Delhi the cCmpire of Inida in 1897 in Mumbai the united india in Chennai the natinal the nationa lIndian and the Hindusthan Cooperative in Kolkata.
worldbookies.eu
at the end of this lession the student shoul have understood
1. the basic concepts relation to insurance business.
2. The meaning s of the worlds peril and risk.
3. Different kinds of rishs
4. the ways of managing risks.
5. Importance of insurance in society and economy.
WHAT IS INSURANCE :-
1. The Business of insurance is related to the protection of the economic values of assets. Every asset has a velue would have been created through the efforts of the owner. The asset is valuable to the owner, ecause it meets some ot his needs. The benefit may be an income or in some other form. In the case of a factory or a cow, the product generated by it is sold and income is generated. In the case of a motor cas, it provides comfort and convenience in transportation. There is no direct income. Both are assets and provide benifits.
2. Every asset is expected to last for a certain period ot ththim during which it will provide the benefits. After that the benefit may not be available. There is a life time for a machine in a factory or a cor or a motor car. none of them will last for ever. The owner is aware of this and he can so manage his affairs that by the end of that perid or life time. a substitue is made available. Thus he makes sure that the benefit is not lost. However, the asset may get lost earlier. An accident or some other unfortunate event may destroy is or make it incapable or giving the benefits. An epidemic benefits therfrom, would be deprived ot the benefits. the planned substitue would not have been ready . There is an adverse or unplsasant situation. Insurance is a mechanism that hels to reduce the effict of such adverse situation. It promises to pay to the owner or beneficiary ot hte asset a certain sum if the loss occur.
3. Insurance has been known to exist in some form or other since 3000 bc. The chinese traders , traveling treacherous river rapids would distribute their goods among serveral vessels so that the loss from any one vessel traders would agree to pay additional sums to lenders as the price for writing off the loans, in case of the shipment being stolen. the inhabitants of Rhodes adopted the principle of gernral average whareby if goods are shipped togetheer the owners would bear the losses in proportion of loss occures. due to jettisoning during distress. CCaptains of ships caught in storms would throw away some of the cargo to reduce the weight and restore balance. Such trtowing away is called hettisoning ) the greeks had stared benevolent societies in the late 7th century AD ti take care of the funeral and families of members who died. The friendly societies of England were similarly constituted. The Great Fiire of London in 1666 in which more that 13000 houses were lost, gave a boost to insurance and the firest fire insurance company. called the fire office was statedd in 1680.
4. The origins of insurance business as in vogue at present is traced to the lloys coffee house in loand. traders who used tio gather in the lloyds coffee house in london agreed to share the losses to theri good while robbed on the high seas or becase of bad weather. spoiling the goods or sinking the ship. In India insurance began in 1818 with life insurance beaing transcted by an English company the oriental .ife insurance co. ltd. the first indian insurence company was the Bombay Mutual Assurance Society Ltd. formed in 1870 in Mumbai. This is folloed by the bharat Insuirance co in 186 in Delhi the cCmpire of Inida in 1897 in Mumbai the united india in Chennai the natinal the nationa lIndian and the Hindusthan Cooperative in Kolkata.
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