What is Life Insurance? Life insurance is an agreement under which one party agrees to pay another party a given sum of money known as the sum assured upon the…

An agreement that is enforceable by the law of the land is called a contract. Any party entering into a contract with another is legally bound to follow the terms…

Principles of Insurance The principle of utmost good faith is a fundamental principle of insurance. As per this principle, an insurance contract must be duly signed by both the contracting…

What is Reinsurance? Reinsurance is a contract between two in which one insurance company transfers either all or a portion of its risk of insurance to another company known as…

In literal terms, the act of converting or transforming raw inputs into finished products is known as production. The sales and marketing division of an insurance company is its production…