insurance
Health insurance is a type of general insurance that provides financial security to an individual against several illnesses and injuries and their treatment. Like other types of insurance policies, a…
What is Retirement Risk? Retirement risk can be defined as the retired person’s probable risks to financial security. Retirement risks can lead to unexpected costs and expenses or a reduced…
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? 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? 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…
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…
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