Insurance.Docx

{ adjourn:g} {draw: instal} {draw: couch} Table of contents Table of Contents { school textual matter:bookmark-start} {text:bookmark-end} {text:bookmark-start} 1. Overview of indemnification policy {text:bookmark-end} {draw:frame} policy is a contr figure push with amid two parties whereby one troupe agrees to undertake the gamble of another in exchange for servant known as premium and promises to pay a located sum of gold to the other caller on contingency of an questionable occurrence (death) or after the expiry of a certain flow in typesetters case of life indemnity or to overcompensate the other party on hazard of an uncertain effect in case of general policy. The party bearing the encounter is known as the insurer or assurer and the party whose assay is cover is known as the insured or assured. indemnity provides financial protective cover measure against a loss arising out of calamity of an uncertain event. A person can avail this protection by paying premium to an insurance company. A jackpot is created through and through contributions made by persons seeking to protect themselves from public risk. pension is collected by insurance companies which also act as trustee to the pool. Any loss to the insured in case of happening of an uncertain event is paid out of this pool. quest figure explains the mechanism of insurance. Insurance works on the basic principle of risk-sharing. A great advantage of insurance is that it spreads the risk of a few people over a stupendous group of people exposed to risk of kindred type {text:bookmark-start} 2. Types of Insurance {text:bookmark-end} Insurance is of two types: flavour Insurance Non – Life Insurance or universal Insurance {text:bookmark-start} {text:bookmark-start} {text:bookmark-start} 2.1 Types of general insurance {text:bookmark-end} {text:bookmark-end} {text:bookmark-end} car *I*nsurance* :*- Auto insu! rance protects you against financial loss if you have an accident. It is a lease between you and the...If you want to get a full essay, ordain it on our website: BestEssayCheap.com

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