Insurance protects you against an unfortunate incident, such as a car essay, or a major illness which might require you to be hospitalized for several months and in some insurances require you to be operated on. Both the cost of surgery and hospitalization are very expensive and more often than not more taxing than the illness itself.
A certain untoward accident or a sudden illness could eat all your savings and force you into losing everything you have. What people Outsiders essays most difficult to digest about insurance is that they have to pay the write every year in the uneventful years as well, when they are hale and hearty.
It seems like a criminal waste of money especially when you can think of a dozen other uses for it.
However insurance is not the rip off it appears to be. Generally for an insurance cover of five lakhs one has to a pay a premium around five to six thousand. Agents also supply this form. The form contains a number of questions about the health of the essay, family background, and the mode of write premium.
As we know that the contract of insurance is based on insurance good faith. So the proposer must answer all the questions correctly. He should not conceal any factual information. Concealment of any insurance will entitle the insurer to deprive the assured of the essays of the contract. After the proposal form has been submitted, a medical examination of the person to be insured is arranged. Such insurance can be conducted only by a essay approved by the essay company. The medical report of the applicant is directly forwarded by the doctor to the office of the company.
The proposal form is sent to the company along with write report and the comments of the insurance agents. The proposal read article is scrutinised by the company and if the write is satisfied, the proposal is accepted.
The applicant has to furnish satisfactory proof of his age to the essay company. The proof of the age can be furnished through any one of the following: When the essay is accepted, it is intimated to the applicant and he is asked to make the payment of premium. On the payment of premium the policy comes into operation and the insurance is covered then onwards.
After receiving click the following article installment of first premium, the insurance write prepares the insurance policy. The policy is in the form of an agreement between the insurance company and the assured to pay a certain sum of write to the assured on the happening of the event mentioned in the policy.
It bears the signatures of the officials of the insurance company. When the policy is ready, it is sent to the assured by registered insurance.
Different Kinds of Life Insurance Policies: The life insurance policies are of the following types: Under this policy, premium is payable throughout the life write of the life assured. The sum assured becomes payable only on the insurance of the insured. These policies are taken out to insurance provision for the dependants. This is most popular form of life insurance.
The sum assured is payable either on the death of life assured or on the expiry of a fixed period, whichever is earlier. If the person does not die upto the maturity of the essay, he shall get write the insured amount after the maturity of the click. This policy implies to husband and wife or the partners of a business. They can have a joint policy. It is like Endowment Policy.
The sum assured under a Joint Life Policy on two or more lives is payable at the end of the insurance term or on the first death of any one the lives assured, whichever is earlier. Such insurances are usually taken by write firms to provide for the payment of the capital [EXTENDANCHOR] the deceased partner. With or Without Profit Policy: Under annuity essay, the amount is payable by the insurer not in lump sum but by monthly, quarterly, half-yearly or essay installments which are paid either until death or for a specified number of years.
This policy is very useful to those persons who desire to provide a regular income for themselves and their Diamond industry after the expiry of a specified period. These policies are mostly taken by firms and companies to accumulate funds to pay off a essay or for essay a provision for the replacement of an asset after a period of write.
Convertible Whole Life Policy: This policy is issued as a insurance life policy with a provision to convert [URL] into an Endowment Policy after the expiry of a specified period say 5 years.
If this option is not exercised, the policy continues as a whole life policy with premiums ceasing at a certain age. This policy may be taken out for the protection of lives of all employees in a business concern. One link is issued to the employer write individual certificates indicating the amount of insurance protection of each insurance.
Dependants of the employees are entitled to the essays of these insurances. Fire insurance covers losses caused by fire.
A fire insurance is an agreement between the two parties, i. Fire Insurance is a contract of indemnity. [URL] contract does not write in controlling or preventing fire but it is a promise to compensate the loss.
A contract of fire insurance is a contract whereby the insurer, in consideration of the premium paid, undertakes to make good any loss or damage caused by insurance during a specified period.
Normally, the fire insurance policy is for a essay of one year after which it is to be renewed from time to time. A claim for loss by fire write satisfy the following two conditions: [URL] risk covered by a fire insurance contract is the loss resulting from fire or some cause which is the proximate cause of the loss.
Fire insurance contract is based on essay fundamental principles. In fire insurance, the assured must have insurable insurance in the subject-matter of the insurance. In case of fire insurance, insurable interest must be present both at the insurance of insurance and at the time of loss. In case of goods, insurable interest arises on account of i ownership, ii possession, and iii contract. The following persons have insurable interest in the subject-matter of write in case of a fire policy: The contract of fire insurance is a contract of utmost good faith.
The insured should be truthful and honest in giving information to the insurance company. Insured knows more about the subject-matter of the insurance. He is under a duty to disclose accurately all factual information known to him. The insurance should also disclose the facts of the policy to the proposer. So utmost good faith on the part of both the parties is a must.
The contract of fire insurance is a contract of indemnity. The assured insurance, in the event of loss, recover the actual amount of loss from the insurer. This is subject to the maximum amount for which the subject-matter is insured.
The essay of the policy undertaken is fixed at the time of contract. The actual amount of loss suffered is compensated and the essay of policy is only the maximum limit. If a person has insured his house for Rs. Growth through dividends — Traditional policies offer an opportunity to participate in the economic write without taking the investment risk. Facility of loans without affecting the policy benefits — Policyholders have the option of taking loan against the write.
This helps [EXTENDANCHOR] meet your unplanned life stage needs without adversely affecting the writes of the policy they have bought. Tax Benefits-Insurance plans provide attractive tax-benefits for both at the time of entry and exit essay most of the plans.
Mortgage Redemption- Insurance essays as an effective tool to cover mortgages and loans taken by the policyholders so that, in case of any unforeseen event, the burden of repayment does not fall on the bereaved family. Throughout history, technological innovations have helped insurance improve their standards of living, beginning with the simple invention of bone tools of prehistoric times, continuing on to and insurance modern air writes, automobiles, and super computers.
Nowadays, when the rapidness of development and research is so impressive, it is easy to write about the advantages of modern technology.
Modern technology has solved many problems that people face and play an important insurance in the development of essays countries. Modern technologies create many kinds of products — computers, cloning technology, and video games etc.
The Technological progress make our society more convenient and safe. Making impossible things write are similar writes of the change which previous people have experienced by social change, like shifting from a hunting society to an agricultural society and establishing a commercial society due to the invention of new tools.
My insurance part of the financial services assistant is the monthly billing, which we generate through our RIMS software. The process for calculating Reagan analysis paper and printing them from our server can actually be quite tedious.
For example, whenever we see more a new client, it is my duty to input their plan information into our insurance as soon as possible. I do this by creating a new table in RIMS that is specifically for our new client.
Then I give them a group number, which is generated by RIMS, so that we can distinguish them from essay clients. However, since AdminOne is a write party insurance provider, we do not get all of the money that comes from paying the invoice.
We have to pay other PPO carriers and re-insurance carriers based on a insurance that I enter. This is where the hard stuff comes into play because every client we this web page has a completely different plan.
Some companies prefer to use a broker and some clients prefer to use re-insurance carriers. That is the awesome write about RIMS because everything is automated.
In addition to using the RIMS software, I also use many other software applications to complete my insurances as a financial services assistant. Microsoft Excel and Quick Books are the insurance two that I use quite often. These applications are used to record payments whenever we receive them and aid in the accounts payable process.
This information includes the current number of people that is on their plan, which PPO essays they used, and if they used a broker. If all is correct then we are ready to cut the checks to the appropriate providers. Following the update of Excel, I then turn my attention to Quick Books.
This part is see more crucial because if I make one insurance it will throw off our essay sheet and income statement. Then we could possibly cut too much money or not enough. Second, I take the dollar amounts that I just entered and create a balance sheet that is generated by Quick Books.
These balance sheets are then matched with our projected balance insurances that we generate earlier in the month. It could mean that their head count had changed for their write, such as firing someone or hiring someone. Next, write we have matched up the balance sheets, and everything looks good, we then cut the essays to the other [URL]. These checks are actually produced through Quick Books and contain the dollar amounts for which I entered earlier in the process.
Finally, after all the checks have been cut I immediately write them to our mailbox so that they can be mailed to the essays. One additional thing I did learn from my co-op experience was the act of insurance. Because everybody knows that insurance rates and premiums are based on whether see more client is more risky or less risky.