The main function of insurance is that eliminates the uncertainty of an unexpected and sudden financial loss. Basic Types 5. Meaning of Insurance: If one goes by the word meaning insurance is a contract between two parties whereby the insurer agrees to indemnify the insured […] Payment at Contingency. If you continue browsing the site, you agree to the use of cookies on this website. Working 8. Both the parties to the contract, that … Insurer under fire insurance contract compensates when some contingency occurs resulting in losses and damages. Explain the purpose and basic characteristics of life insurance. (ii) Insurance provides protection: The main function of the insurance is to provide protection against the probable chances of loss. The shipping company wants the safety of the […] 4.1 OBJECTIVES At the end of this lesson you will be able to know: z Various principles applicable to life insurance contract. Some life insurance policies even offer financial compensation after retirement or a certain period of time. Travel insurance applies to different modes of transportation, to ensure a … Clipping is a handy way to collect important slides you want to go back to later. For different kinds of an insurance policy; suitable and conditions are added which are called insurance contract clauses. occurrence of a specific event. Health insurance is a product that covers your medical expenses. The owner of the policy pays premiums until the end of the term. ADVERTISEMENTS: After reading this article you will learn about:- 1. the deductible), and the insurer pays the rest. Payment and Tax Load - The service provider makes payment of indirect taxes and this is transferred to a final consumer.. ADVERTISEMENTS: Nature: Marine insurance is concerned with overseas trade. Definition of Insurance 3. 2. Features 1: Term Life Insurance. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. International trade involves transportation of goods from one country to another country by ships. Deductibles ... – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: 4a564-ZDc1Z See our Privacy Policy and User Agreement for details. Now customize the name of a clipboard to store your clips. individual, company or other entity in the case of unexpected loss. Car Insurance PowerPoint Template & Keynote Presentation. 4. Collective risk bearing — Insurance is an instrument to share the financial O loss. ; Indemnity for third party property damage up to a limit of Rs. marine, fire and general insurances. There are Life Insurance• Life insurance provides a monetary benefit to a descendants family or other designated beneficiary, and may specifically provide for income to an insured persons family, burial, funeral and other final expenses. Private insurance tends to play a different role depending on a country's wealth and institutional development. Easy to change the slide colors quickly. This is one of the biggest worries of a business. The time and amount of loss are uncertain and at the happening of risk, the person will suffer loss in absence of insurance. Meaning of Insurance: If one goes by the word meaning insurance is a contract between two parties whereby the insurer agrees to indemnify the insured […] If car insurance is renewed within 90 days of car insurance expiry, then the NCB remains intact. 11. Nature 4. General Insurance. Also, read: Digital Insurance: Insights on Digital Trends in Insurance Industry What is Life Insurance. Looks like you’ve clipped this slide to already. ... Can be used for term or permanent life insurance. comprehensive coverage with affordable premiums. Definition of Personal Accident Insurance 2. pus on dies while the contract is in force, the insurance company pays a specified sum of money to the person on persons you name as beneficiaries. See our User Agreement and Privacy Policy. It is a comprehensive package policy that covers all valuables. Premiums are periodical payment and A Home Insurance Policy protects your valuable and other assets. If you continue browsing the site, you agree to the use of cookies on this website. UNIT 1 2: Whole Life Policy. Insurance is in reality a protective cover against economic loss, by apportioning the risk with others. Availability of term insurance riders, viz. It facilitates financial protection against by reimbursing losses during crisis. Slide contained in 16:9 and 4:3 format. At its core, a life insurance policy is a promise: to provide financial protection to your loved ones if you’re not there.The way a policy carries out that promise is defined by a few key features: The death benefit: The amount of money the insurance company will pay when the insured person dies.Typically, this benefit is income-tax free. Sharing of Risk. the premium to be paid. Living a healthy life is a difficult path when we have so much junk and such … 1.3 FEATURES OF FIRE INSURANCE: (Dear learner, most of the features to be discussed in the following paragraphs of Fire Insurance you must have studied under Principles of General Insurance in other module) 1) Offer & Acceptance : It is a prerequisite to any contract. Type of Insurance Policy.  Insurance is cooperative form of distributing a certain risk over a group of persons who are The advanced features of the insurance policy management software have modernized the way insurers manage the policy administration process. IRDA - Insurance Regulatory Development and Authority is the statutory, independent and apex body that governs and supervise the Insurance Industry in India. purchaser can select as per own convenience and preference. Winner of the Standing Ovation Award for “Best PowerPoint Templates” from Presentations Magazine. Although private insurance markets are most well developed in wealthier countries, almost half (46%) of these countries are in the low and lower-middle income categories. Insurance is a device to share the financial losses which might befall on an individual or his family on the happening of a ... 2. Car insurance PowerPoint template and keynote is a professional design for a detail and exclusive presentation on the benefit of general insurance. How Covid-19 Might Affect Your Auto Insurance - As with some other types of insurance, Covid-19 won’t necessarily have an impact upon your auto policy, but you might find yourself struggling to keep up with the payments. You can change your ad preferences anytime. Yet they often know very little about the features … Preamble Days of grace Entire contract clause Misstatement of Age clause Reinstatement clause Suicide clause 10. Functions. Insurance cannot arrest the risk from taking place, but can for sure allow for the losses arising with the risk. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Insurance is designed to protect the financial well-being of an Functions. Basic Types 5. Tools and calculators. 2. Although each of the authors have defined Insurance Promote Healthy Living. Insurance Plan Presentation Free Google Slides theme and PowerPoint template. Agreeing to the terms of an insurance policy creates Health insurance also covers preventive care – i.e., doctors visits and tests before you get sick. (called premiums), the insurer agrees to pay the policy holder a sum of money upon the It is a risk-management technique used for hedging against various uncertain losses. a periodic payment. Maximum limits of coverage. (Table #1). The insurance can be used to pay for damages and corresponding repairs. Insurance is a contractual agreement between two parties in which one party promise to protect another party from uncertainties and losses. Meaning of Insurance – Insurance means a promise of compensation for any potential future Chapter 01 concepts and principles of insurance, TYPES OF LIFE INSURANCE POLICIES IN INDIA, No public clipboards found for this slide. As an individual, you will be covered under the Life insurance policy. See our User Agreement and Privacy Policy. Medical Expense Coverage. As you’re less likely to fall sick in this stage, insurance companies offer health insurance plan at a lower premium considering the low-risk appetite. Contract Of Indemnity. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. General Insurance 1. The time and amount of loss are uncertain and at the happening of risk, the person will suffer loss in absence of insurance. 2] Protection Life insurance is a contract that offers financial compensation in case of death or disability. Type of insuranceLife Insurance Home Insurance Property Insurance Auto Insurance Health Insurance 4. 3 insurance exceeding 5% of total health expenditures. Co-operative Device: The most important feature of every insurance plan is the co- operation of large number of persons who, in effect, agree to share the financial loss arising due to a particular risk which is insured. Several insurances provide GENERAL INSURANCE Live worry-free! ; Unlimited Liability for Third Party death/ injury Claims. Term insurance is a life insurance product offered by an insurance company which offers financial coverage to the policy holder for a specific time period. Contract of ‘Uberrimae fidei’ or Contract of Utmost good faith. A general insurance compensates you for financial loss due to liabilities related to your house, car, bike, health, travel, etc. Beneficiary clause. If you continue browsing the site, you agree to the use of cookies on this website. Nature of Insurance Contract - Features of Insurance Contract - Types of Insurance - Concept of Intermediaries – Market Players and their Roles - Agents, Brokers, Surveyors & Loss Assessors, Health Third Party Administrators, Certification of Insurance Professionals, Training Organizations. Disnadle There are many dangers during the transhipment. exposed to it. Most business property insurance policies are broad form policies. Vehicular insurance is usually counted on when there is an accident concerning a car or another vehicle. Loss to Car From Natural or Man-Made Calamities Natural calamities such as flooding, earthquake, landslide, lightning, heavy storms, etc. different insurers offer diverse premium options. In spite of rising costs of medical treatments and increasing awareness about buying health insurance, people are still unaware of what makes a health insurance policy a winner. The insurance guarantees the payment of loss and thus protects the assured from sufferings. LIC's Accidental Death and Disability Benefit Rider and LIC's New Critical Illness Benefit Rider. Ghosh and Agarwal 3. PowerPoint Templates > Insurance . Even with insurance, an individual should still have funds to pay the deductible and co-insurance There are several types of insurance for specific purposes 1.10.1.G1 The periodical insurance premiums are Presented By:Ria John (10090)Rini Thomas(10091) 2. Ppt insurance ... 1. The persons who are importing the goods will like to ensure the safe arrival of their goods. Fire insurance indemnifies for losses on occurrence of contingency. Accident Insurance After studying this topic the learners would be able to know about the different types of Accidental insurance policies and their distinct features and similarities. Our tools and calculators can help you see where the gaps might be. Term life insurance provides benefits to a named beneficiary for a specific term from the initiation of the policy. Characteristics of Insurance:- When preparing a business plan for your insurance company, we know how important it is to find a presentation that makes you feel confident and covers any potential problem that may arise. | PowerPoint PPT presentation | free to view  The collective bearing of risk is insurance. General insurance includes Property Insurance, Liability Insurance, and Other Forms of Insurance. Insurance is a means of protection from any unforeseen losses and contingencies. Regulatory Environment – Specific Legislations Insurance Consulting Presentation Free Google Slides theme and PowerPoint template. Such a group of persons may be brought together voluntarily or through publicity or through solicitation of the agents. In this article: Health insurance basics In a country like India, the rate of illiteracy is very high and the rural economy has dominance in the national economy. The insurance is not only a protection but is a sort of investment because a certain sum is returnable to the insured at the death or the expiry of a period. The life insurance and general insurance differ in the way that life insurance covers the life risk, whereas general insurance does not cover the risk of life. Purpose:- to safe guard the interest of insured, setting the norms for carrying out the business of insurance smoothly, Minimizing disputes. Most property insurance policies and business owner policies cover fire losses. Types of Health Insurance. are inevitable and could leave … World's Best PowerPoint Templates - CrystalGraphics offers more PowerPoint templates than anyone else in the world, with over 4 million to choose from. Easy to Get Insurance. More. The insurer ... General Insurance: Property Insurance: Marine Insurance: Fire Insurance: 3. Indemnities under Personal Accident Insurance 1. 2. World's Best PowerPoint Templates - CrystalGraphics offers more PowerPoint templates than anyone else in the world, with over 4 million to choose from. Disability ... MEDICAL INSURANCE POLICY FEATURES AND DEFINITIONS. losses. • General Insurance – The risks that are covered by general insurance are: • Property Loss • Liability arising from damage caused by yourself to a third party • Accidental death or injury – The main products of General Insurance Includes: • Motor Insurance • Fire / house owners / Householders insurance • Personal accident insurance • Medical and Health insurance • Travel insurance Types of Insurance: Life Insurance: Life insurance is different from other insurance, in that sense, the subject matter of insurance is the life of a human. More. Buying a health insurance has become a necessity. Related: Life Insurance Bonus: Definition, Features, Types. The Insurance Act of 1938 was the first legislation governing all forms of insurance to provide strict state control over insurance business. Need 6. The insurance services depend on effective promotional measures. PARTS OF INSURANCE CONTRACT. COLUMBIA, S.C., Nov. 17, 2011 /PRNewswire/ --Purchasing life insurance is one of the most important financial decisions consumers make. Meaning of Insurance 2. 200,000+ satisfied customers worldwide! Learn how premiums are calculated and how to manage them. Premiums explained. 7.5 lakhs. Meaning of Insurance 2. They'll give your presentations a professional, memorable appearance - the kind of sophisticated look that today's audiences expect. 3.4 TERMINAL QUESTIONS: 1. In other words, a promise of compensation for specific potential future losses in exchange for Running a business has its difficulties, especially when it comes to protecting yourself from losses and managing liabilities. Nature – Initially, indirect taxes used to have a regressive nature. INSURANCE An ideal plan for high net worth individuals. 5. Small Business Insurance: What Agents Want You to Know, Dyman & Associates Insurance Group of Companies - Every business should be insured, but as a first-time business owner, you may find it hard to navigate through the maze of plans and providers. Importance of Health Insurance and Its Features For every individual in India, health insurance has become a necessity. COLUMBIA, S.C., Nov. 17, 2011 /PRNewswire/ --Purchasing life insurance is one of the most important financial decisions consumers make. Insurance contracts are subject to certain special principles evolved under common law in UK and are followed by the Indian courts. (ii) Insurance provides protection: The main function of the insurance is to provide protection against the probable chances of loss. Yet, now with the coming of GST, they have become quite progressive. This modern insurance illustration of PowerPoint is useful in … Insurance Classroom teaching, PPT’s 5. Meaning of Insurance. Winner of the Standing Ovation Award for “Best PowerPoint Templates” from Presentations Magazine. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. These principles are known as the fundamental principles of the law of Insurance and these are discussed in the following chapters. TYPES OF INSURANCE “Take Charge of Your Finances” Advanced Level If you continue browsing the site, you agree to the use of cookies on this website. Features of the Health Insurance PPT templates: 100 % customizable slides and easy to download. PPT - Indian Financial System Financial System Financial system is an interaction of various intermediaries, market instruments, policy makers, and various regulations to aid the flow of savings from savers to investors and managing the proper functioning of the system. The insurance has the following characteristics which are, generally, observed in case of life, The insurance guarantees the payment of loss and thus protects the assured from sufferings. Instead of this uncertainty, it provides the certainty of regular payment i.e. Elements of Insurance Contracts are basically 2 types; (1) the elements of the general contract, and (2) the element of special contract relating to insurance. Common insurance … This modern insurance illustration of PowerPoint is useful in … Another way to state this is to say that “Insurance is a transfer of risk with the added features of (i) combination of risks (ii) an estimate of future losses”. CONTINUED.. War clause. 1. Liability of Tax – Here the seller or service provider makes payment on indirect taxes which are transferred to final consumer.. different insurance companies that offer wide range of insurance options and an insurance Insurance Policy Management Software - Advanced Features - The advanced features of the insurance policy management software have modernized the way insurers manage the policy administration process. 93% of Fortune 1000 companies use our PowerPoint Products Standing Ovation Award Winner: Best PowerPoint Template Collection Network Solutions protects your online transactions with secure SSL encryption. Insurance is not Charity: Charity is given without consideration but insurance is not possible without … WHAT IS GENERAL INSURANCE? More. The insurance company promises to pay you a sum assured to cover damages to your vehicle, medical treatments to cure health problems, losses due to … Co-operative Device. You can change your ad preferences anytime. Car insurance PowerPoint template and keynote is a professional design for a detail and exclusive presentation on the benefit of general insurance. Ratings Of Insurance Companies In India - Top 5 Companies LIC ICICI Prudential Life Insurance Co Ltd SBI Life Insurance Co Ltd Bajaj Allianz Life Insurance Co Ltd Reliance Life Insurance Co Ltd Market Share (2009) 13.10/0 9.8 Market Share (2008) 8.93% 6.99% 7.36% 2.96% (Source: Insurance review) Dr. Amit Gupta 1 / 1 0/201 8 40 PowerPoint slide on Health Insurance compiled by Dr. Amit Gupta. They'll give your presentations a professional, memorable appearance - the kind of sophisticated look that today's audiences expect. As an individual, you will be covered under the Life insurance policy. Insurable interest. Nature 4. The policyholder pays regular premiums until his death, upon which the corpus is paid out to the family. Check the amazing features of the insurance solution now. If you compare, the same premium that you pay at your 30s will cost you double in your 50s. Explain the Explain the various features of any commercial contract. In case of minor policyholder, Premium Waiver benefit is applicable. Personal Accident Cover for you, your paid driver and the occupants in the car. Insurance premium is termed as contribution on the part of insured in fire insurance contract. At the end of the term, if the insured is alive, the policy ends and no longer offers benefits. The insurance can help as tax-deductible expenses. a contract between the insured and the insurer. Insurable interest refers that the insured must suffer if the loss takes place in the … Some important definitions of insurance are as follows: Some forms of insurance are Free Insurance Presentation Template Features Screen size 16:9 This Template is fully editable, and you can modify its colors (mainly Beige,Black,White,) photo and text. Main Features of Social Insurance: We can, point out certain well-marked features of social insurance: (1) It involves the establishment of a common monetary fund out of which all the benefits in cash or kind are paid, and which is generally built up of the contribution of the workers, employers and the State. Protection from loss of car or damage to your car. 1. Life insurance ppt 1. The stages in this process are payment, medicine, life, … Car Shield Key Features . Looks like you’ve clipped this slide to already. Digit Insurance gives protection for Home against Burglary, Loss/Damage of Jewelry, Fire and Natural Disasters. Clipping is a handy way to collect important slides you want to go back to later. Characteristics 7. Warranties are an integral part of the contract, i.e., these are the basis of the contract … Now customize the name of a clipboard to store your clips. Working 8. Any sort of 'non-life' insurance policy falls under General Insurance It is also called as property & casualty insurance General Insurance covers property against : Fire Burglary Theft Flood storm Earthquake and so on It also covers Machinery against breakdown Hull of ships Motor vehicles …  Insurance is an instrument of distributing the loss of few among many. It is essential to have both personal and impersonal promotion strategies. In most cases, the policy holder pays part of the loss (called Well-crafted template with instant download facility.
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