Annuity Plan in India
Annuity plans are usually characterised by their low returns, lack of tax benefits and complex product structure. However, immediate annuity plans, which provide lifelong income benefits at monthly, quarterly or…
What is Annuities? Types, Features, Tax Treatment
What is Annuities? An annuity is defined as a contract that provides periodic payments for a certain period of time, such as a number of years or for life. The…
What is Life Insurance? Types, Need, Classifications, Tax Incentives, Contractual Provisions, Computation
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…
Requirements for Insurance Contract
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
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? Areas
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…
Methods for Marketing Insurance Products
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…
What is Ratemaking? Methods: Class, Loss Ratio, Merit rating, Schedule, Experience, Retrospective
What is Ratemaking? Ratemaking is a process of deciding the amount of the premium for insurance. Thus, it is also known as insurance pricing. As an insurance company is a…
Buying Insurance: Prerequisites, Common Errors, Need, Selection of Agent
An insurance policy acts as a safeguard mechanism for an individual/organization to reduce the effect of loss caused by various risks. There are different ways for buying an insurance policy.…
What is Cost of Insurance? Costing of Life and General Insurance, Methods
What is Cost of Insurance? The cost of insurance refers to the premium amount that an individual or a business pays to an insurance company in exchange for coverage and…
