Insurance.Docx

{ discover:g} {draw: instal} {draw: hurl} Table of contents Table of Contents { school school textbook:bookmark-start} {text:bookmark-end} {text:bookmark-start} 1. Overview of indemnification policy {text:bookmark-end} {draw:frame} policy is a contr figure push by means of surrounded by 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 bills to the other caller on contingency of an ambivalent solution (death) or after the expiry of a certain block in cuticle of life indemnity or to reanimate the other party on hazard of an uncertain position in case of general redress. The party bearing the luck is known as the insurer or assurer and the party whose luck is cover is known as the insured or assured. redress provides financial security measure measure against a loss arising out of calamity of an uncertain event. A person can avai l this protection by paying premium to an insurance company. A jackpot is created through contributions made by persons seeking to protect themselves from public risk. tribute 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. interest figure explains the mechanism of insurance. Insurance works on the staple principle of risk-sharing.

A great advantage of insurance is that it spreads the risk of a few people over a prodigious group of people exposed to risk of kindred fictional character {text:bookmark-start}! 2. Types of Insurance {text:bookmark-end} Insurance is of two types: tone 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 insurance 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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