Banking and insurance
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Insurance is a legal contract that transfers risk from a policyholder to an insurance provider. There are two main types of insurance: life insurance and general insurance. Life insurance pays a sum of money upon death or illness, and can be term or permanent. General insurance covers non-life risks like property, motor, health, travel, and home insurance. It provides financial protection from events such as accidents, injury, damage, or theft. Insurance allows individuals and businesses to mitigate risks from unforeseen events.
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Banking and insurance chapters
This document provides an overview of basic banking concepts and operations. It discusses key terms like bank accounts, checks, deposits, and reconciliations. It also covers customer due diligence processes like Know Your Customer (KYC) guidelines and anti-money laundering procedures. Finally, it outlines banker responsibilities around lending, credit monitoring, priority sector lending, and non-performing asset management.
Consumer finance ppt
Consumer finance refers to granting credit to consumers to purchase goods for everyday use through installment plans. There are different types of consumer credit like revolving credit (credit cards), fixed credit (loans), and cash loans. Sources of consumer finance include traders, commercial banks, credit card companies, NBFCs, and credit unions. Factors driving demand for consumer finance are increasing income, installment payment plans, and growth in households. Products covered include cars, appliances, and electronics. Terms of financing evaluate borrowers' income, employment, guarantees, interest rates, and fees. While consumer credit allows purchases and economic growth, it can also lead to overspending, insolvency, high costs, bad debts, and economic instability.
Insurance
Insurance can be defined as the equitable transfer of risk of loss from one entity to another in exchange for payment. It involves an insurer, insured, a premium, and compensation for loss due to a specified peril or risk. Key principles of insurance include utmost good faith, insurable interest, indemnity, subrogation, contribution, proximate cause, and mitigation of loss. Insurance provides important social and economic benefits but also involves costs like business costs and fraudulent claims. Regulations ensure transparency and consumer protection in the insurance industry.
Insurance intermediaries
This document defines and describes different types of insurance intermediaries according to IRDA act 1999, including brokers or agents who represent consumers and match their needs with suitable insurance products. It discusses insurance agents, brokers, bancassurance where banks sell insurance, and micro insurance agents. For agents, it covers eligibility, education, training, functions, rights, and termination. For brokers it discusses licensing and code of conduct regarding clients, sales practices, and more. It also provides details about bancassurance partnerships in India.
Reserve bank of india
The Reserve Bank of India is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934.
Bank deposits
This document discusses bank deposits, including the types of deposits, factors that affect deposits, and measures to increase deposits. It also covers pricing deposits, "Know Your Customer" guidelines for opening accounts, deposit insurance, and non-deposit sources of funds for banks.
Functions of rbi
The Reserve Bank of India (RBI) was established in 1935 and nationalized in 1949. It serves as the central bank, monetary authority, and regulator of the banking system in India. The RBI's key functions include monetary policy, regulating banks, managing foreign exchange, issuing currency, acting as a banker to the government and banks, and facilitating development initiatives. Dr. Urjit Patel currently serves as the Governor of RBI.
Net assets value of mutual fund
The document discusses how net asset value (NAV) of a mutual fund is determined. It states that NAV is calculated by dividing the total market value of all the securities in the mutual fund's portfolio by the total number of outstanding units. It also notes that short-term mispricing of the underlying securities can result in over- or undervaluation of the mutual fund's NAV, in direct proportion to the mispricing of the securities owned by the fund. The document emphasizes that the price of mutual fund shares is not determined by the forces of supply and demand, but solely by the value of the underlying securities in the fund's portfolio.
Recommended
Banking and insurance chapters
This document provides an overview of basic banking concepts and operations. It discusses key terms like bank accounts, checks, deposits, and reconciliations. It also covers customer due diligence processes like Know Your Customer (KYC) guidelines and anti-money laundering procedures. Finally, it outlines banker responsibilities around lending, credit monitoring, priority sector lending, and non-performing asset management.
Consumer finance ppt
Consumer finance refers to granting credit to consumers to purchase goods for everyday use through installment plans. There are different types of consumer credit like revolving credit (credit cards), fixed credit (loans), and cash loans. Sources of consumer finance include traders, commercial banks, credit card companies, NBFCs, and credit unions. Factors driving demand for consumer finance are increasing income, installment payment plans, and growth in households. Products covered include cars, appliances, and electronics. Terms of financing evaluate borrowers' income, employment, guarantees, interest rates, and fees. While consumer credit allows purchases and economic growth, it can also lead to overspending, insolvency, high costs, bad debts, and economic instability.
Insurance
Insurance can be defined as the equitable transfer of risk of loss from one entity to another in exchange for payment. It involves an insurer, insured, a premium, and compensation for loss due to a specified peril or risk. Key principles of insurance include utmost good faith, insurable interest, indemnity, subrogation, contribution, proximate cause, and mitigation of loss. Insurance provides important social and economic benefits but also involves costs like business costs and fraudulent claims. Regulations ensure transparency and consumer protection in the insurance industry.
Insurance intermediaries
This document defines and describes different types of insurance intermediaries according to IRDA act 1999, including brokers or agents who represent consumers and match their needs with suitable insurance products. It discusses insurance agents, brokers, bancassurance where banks sell insurance, and micro insurance agents. For agents, it covers eligibility, education, training, functions, rights, and termination. For brokers it discusses licensing and code of conduct regarding clients, sales practices, and more. It also provides details about bancassurance partnerships in India.
Reserve bank of india
The Reserve Bank of India is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934.
Bank deposits
This document discusses bank deposits, including the types of deposits, factors that affect deposits, and measures to increase deposits. It also covers pricing deposits, "Know Your Customer" guidelines for opening accounts, deposit insurance, and non-deposit sources of funds for banks.
Functions of rbi
The Reserve Bank of India (RBI) was established in 1935 and nationalized in 1949. It serves as the central bank, monetary authority, and regulator of the banking system in India. The RBI's key functions include monetary policy, regulating banks, managing foreign exchange, issuing currency, acting as a banker to the government and banks, and facilitating development initiatives. Dr. Urjit Patel currently serves as the Governor of RBI.
Net assets value of mutual fund
The document discusses how net asset value (NAV) of a mutual fund is determined. It states that NAV is calculated by dividing the total market value of all the securities in the mutual fund's portfolio by the total number of outstanding units. It also notes that short-term mispricing of the underlying securities can result in over- or undervaluation of the mutual fund's NAV, in direct proportion to the mispricing of the securities owned by the fund. The document emphasizes that the price of mutual fund shares is not determined by the forces of supply and demand, but solely by the value of the underlying securities in the fund's portfolio.
Underwriting in Insurance
The document discusses the process of insurance underwriting. Underwriting involves evaluating risks to determine whether to issue an insurance policy to an applicant. It aims to select applicants that will likely have claims below assumed losses to ensure a profit. The underwriter considers the applicant's exposure, pricing alternatives like modifying coverage, and monitors policies to maintain satisfactory results for the insurance company. Underwriting balances risks across policyholders and ensures adequate premiums are charged for expected losses.
Principles of Life insurance by Dr. Amitabh Mishra
The document discusses the key principles of life insurance, including:
1) The principle of insurable interest which requires a financial loss upon death or injury.
2) The principle of utmost good faith which requires full disclosure between insurer and insured.
3) The principle of large numbers which allows insurers to predict risks by analyzing large pools of policyholders.
4) Life insurance has also evolved with increasing digitization, the creation of e-insurance accounts, and the growth of alternative distribution channels such as brokers, banks, and online aggregators.
commercial banks
Commercial banks play a vital role in a country's economic development by providing short-term loans and credit. They accept deposits from the public and use those funds to issue loans. In India, many commercial banks were nationalized in 1969 and 1980 in order to increase government control over credit and promote lending to priority sectors like agriculture. Nationalized banks have expanded branches, especially in rural areas, but still need to improve lending and deposit mobilization. Commercial banks perform functions like accepting deposits, lending funds, operating checking accounts, and transferring money. They include public sector banks, private banks, foreign banks, and regional rural banks.
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The Reserve Bank of India is the central bank of India established in 1935. It regulates banking, manages currency and monetary policy in India. It acts as a bank for the government and regulates commercial banks. It issues currency, manages foreign exchange reserves, implements monetary policy tools like repo rate, CRR, and SLR to regulate inflation and control money supply. It also oversees functions like licensing banks, inspecting banks, and managing clearing houses.
Insurance intermediaries
An insurance intermediary helps consumers purchase insurance policies. The main types are insurance agents, brokers, corporate agents, and bancassurance. Insurance agents work for insurance companies and sell only their products. Brokers can compare policies from multiple insurers. The primary difference is that agents represent insurers while brokers represent consumers. Agents have actual, apparent, and authority of necessity. Their duties include acting in the principal's interests, obtaining instructions, avoiding conflicts, and protecting the principal. Agents' rights include retaining sums due, receiving remuneration, and lien on the principal's property.
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Subscribe to Vision Academy for Video assistance
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This document discusses receivables management. It defines receivables as money owed to a firm by customers from sales. Effective receivables management optimizes profits by balancing investment in receivables with sales levels and costs of maintaining receivables like capital costs and collection costs. Firms must determine appropriate credit policies including credit terms, credit limits, and collection efforts to maximize returns while minimizing bad debts and collection period. Tools like credit analysis, aging schedules, and ratio analysis help firms monitor receivables and collection performance.
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The document discusses the relationship between banks and their customers. It defines key terms like banker, customer, and the various forms the bank-customer relationship can take - as debtor-creditor, trustee, agent, or bailee. It also outlines the types of accounts individuals, HUFs, firms, companies, trusts, clubs, local authorities, and cooperative societies can open. Finally, it discusses important duties of banks like secrecy and reasonable care, as well as rights like lien, set-off, appropriation of accounts, and charging interest.
Term loan
A term loan is a loan provided by banks or financial institutions that has a fixed repayment schedule and floating interest rate over a period of 1 to 10 years. Term loans are used to finance the purchase of fixed assets or provide working capital and are offered to businesses, professionals, and companies. They typically require collateral and have financial covenants to protect the lender. Term loans provide lower-cost debt financing but also impose repayment obligations and restrictions on the borrower.
Forfaiting
Forfaiting is a mechanism where an exporter's rights to export receivables such as letters of credit or bills of exchange are purchased by a financial intermediary called a forfaiter without recourse to the exporter. This converts the exporter's credit sale into a cash sale, absolving the exporter of political or conversion risks while providing up to 100% financing without recourse. The key parties involved are the exporter, importer, forfaiting agency which is typically the exporter's bank, the importer's guaranteeing bank, and domestic export-import banks. Forfaiting provides liquidity to exporters, fixes the financing rate, and keeps the transactions confidential.
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The document discusses the importance of bank lending principles for making sound lending decisions. It outlines several key principles for banks to consider, including the 5 Ps - People, Purpose, Payment, Protection, and Prospects. Major portions of a bank's assets and earnings come from advances/loans, which also carry the greatest credit risk. Following sound lending principles can help ensure loans are given to reliable customers for approved purposes, with adequate collateral and ability to repay, thereby reducing loan defaults and losses.
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This document defines leasing and describes its key features and types. It begins with defining leasing as a written agreement where a property owner allows a tenant to use the property for a specified period in exchange for fixed installment payments. It then discusses the main features of leasing, including that it allows use of an asset without paying the full upfront cost. The document also outlines the main advantages and disadvantages of leasing. Finally, it describes the main types of leasing, including finance leases, operating leases, leveraged leases, sale and lease back, and direct leasing.
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The document provides an overview of the Reserve Bank of India (RBI), including its history, organization, functions, and role in monetary policy. Some key points:
- RBI was established in 1935 and serves as India's central bank, regulating the country's monetary policy and currency.
- Its key functions include financial supervision of banks, managing monetary policy, issuing currency, acting as banker to the government and banks, regulating the financial sector, and managing foreign exchange.
- RBI aims to control inflation through monetary policy tools like repo and reverse repo rates, cash reserve ratios, and open market operations. It also plays a developmental role in agriculture lending and disaster relief.
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Insurance is defined both functionally and contractually. Functionally, it is a cooperative device to spread risk over multiple individuals exposed to the same risk. Contractually, it is an agreement where an insurer takes on the risk of a large loss in exchange for regular premium payments. The primary functions of insurance are providing protection from economic loss, collective risk bearing by sharing losses among policyholders, evaluating risks, and providing certainty. Secondary functions include preventing losses, covering larger risks with small capital contributions, and facilitating development of large industries. Insurance also serves as a savings/investment tool, earns foreign exchange, enables risk-free trade, and provides indemnification for unanticipated losses.
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The document discusses the Euro market, which facilitates trade between member nations of the European Union through a common currency (the Euro) and the free movement of goods and services. It describes the Euro market as comprising multiple nations that use the Euro, acting as a major source of international trade. Additionally, it provides details on related terms like the Eurocurrency market, Euro banks, and features of the Euro market such as being international, independent, competitive, and a short-term inter-bank market.
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The Insurance Act of 1938 was the first legislation governing all forms of insurance in India and provided strict state control over the insurance business. It aimed to safeguard policyholder interests and establish norms for smoothly conducting the insurance business and minimizing disputes. Subsequent acts like the Insurance Regulatory and Development Authority Act of 1999 established regulatory authorities to further protect policyholders, regulate the industry, and ensure its orderly growth.
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Profit maximisation vs wealth maximisation
Manpreet Kaur discusses the differences between profit maximization and wealth maximization as objectives for financial management. [1] Profit maximization aims to increase earnings and is a short-term approach, but it can exploit workers and consumers. [2] Wealth maximization seeks to increase long-term shareholder value by maximizing the current stock price, balancing the interests of various stakeholders. [3] While both have drawbacks, wealth maximization is generally considered a more appropriate objective as it considers the time value of money and risk over the long run.
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Any risk that can be quantified can potentially be insured. See the exhaustive lists of the many different types of insurance that exist.
INSURANCE & IT'S TYPES.pdf
This document provides an overview of different types of insurance available in India. It discusses general insurance such as health, motor, home, fire, and travel insurance. It also outlines various life insurance options like term life, whole life, endowment plans, and pension plans. For each type of insurance, the document describes the key components and coverage provided. It provides details on health, motor, home, travel, and fire insurance policies. Finally, it briefly discusses the purpose and process of registering a sale deed for property transactions.
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The document discusses the process of insurance underwriting. Underwriting involves evaluating risks to determine whether to issue an insurance policy to an applicant. It aims to select applicants that will likely have claims below assumed losses to ensure a profit. The underwriter considers the applicant's exposure, pricing alternatives like modifying coverage, and monitors policies to maintain satisfactory results for the insurance company. Underwriting balances risks across policyholders and ensures adequate premiums are charged for expected losses.
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The document discusses the key principles of life insurance, including:
1) The principle of insurable interest which requires a financial loss upon death or injury.
2) The principle of utmost good faith which requires full disclosure between insurer and insured.
3) The principle of large numbers which allows insurers to predict risks by analyzing large pools of policyholders.
4) Life insurance has also evolved with increasing digitization, the creation of e-insurance accounts, and the growth of alternative distribution channels such as brokers, banks, and online aggregators.
commercial banks
Commercial banks play a vital role in a country's economic development by providing short-term loans and credit. They accept deposits from the public and use those funds to issue loans. In India, many commercial banks were nationalized in 1969 and 1980 in order to increase government control over credit and promote lending to priority sectors like agriculture. Nationalized banks have expanded branches, especially in rural areas, but still need to improve lending and deposit mobilization. Commercial banks perform functions like accepting deposits, lending funds, operating checking accounts, and transferring money. They include public sector banks, private banks, foreign banks, and regional rural banks.
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Insurance intermediaries
An insurance intermediary helps consumers purchase insurance policies. The main types are insurance agents, brokers, corporate agents, and bancassurance. Insurance agents work for insurance companies and sell only their products. Brokers can compare policies from multiple insurers. The primary difference is that agents represent insurers while brokers represent consumers. Agents have actual, apparent, and authority of necessity. Their duties include acting in the principal's interests, obtaining instructions, avoiding conflicts, and protecting the principal. Agents' rights include retaining sums due, receiving remuneration, and lien on the principal's property.
Forward and futures - An Overview
This ppt is prepared to provide detailed information regarding Forwards and Futures contracts of Derivatives the topics covered under this are Meaning of Forwards contracts, Underlying Assets of Forwards contracts, FEATURES OF FORWARD CONTRACTS, Tailored made, Why Forwards contracts, FUTURES CONTRACT, What is A Futures Contract, Characteristics of Futures contracts, Mechanism of Trading in Futures Market, Margin requirement, Marking-to-market (M2M), SETTLING A FUTURE POSITION, OFFSETTING, CASH DELIVERY, by Sundar, Assistant Professor of commerce.
Subscribe to Vision Academy for Video assistance
https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
Receivables management
This document discusses receivables management. It defines receivables as money owed to a firm by customers from sales. Effective receivables management optimizes profits by balancing investment in receivables with sales levels and costs of maintaining receivables like capital costs and collection costs. Firms must determine appropriate credit policies including credit terms, credit limits, and collection efforts to maximize returns while minimizing bad debts and collection period. Tools like credit analysis, aging schedules, and ratio analysis help firms monitor receivables and collection performance.
Insurance & Banking
The document discusses the relationship between banks and their customers. It defines key terms like banker, customer, and the various forms the bank-customer relationship can take - as debtor-creditor, trustee, agent, or bailee. It also outlines the types of accounts individuals, HUFs, firms, companies, trusts, clubs, local authorities, and cooperative societies can open. Finally, it discusses important duties of banks like secrecy and reasonable care, as well as rights like lien, set-off, appropriation of accounts, and charging interest.
Term loan
A term loan is a loan provided by banks or financial institutions that has a fixed repayment schedule and floating interest rate over a period of 1 to 10 years. Term loans are used to finance the purchase of fixed assets or provide working capital and are offered to businesses, professionals, and companies. They typically require collateral and have financial covenants to protect the lender. Term loans provide lower-cost debt financing but also impose repayment obligations and restrictions on the borrower.
Forfaiting
Forfaiting is a mechanism where an exporter's rights to export receivables such as letters of credit or bills of exchange are purchased by a financial intermediary called a forfaiter without recourse to the exporter. This converts the exporter's credit sale into a cash sale, absolving the exporter of political or conversion risks while providing up to 100% financing without recourse. The key parties involved are the exporter, importer, forfaiting agency which is typically the exporter's bank, the importer's guaranteeing bank, and domestic export-import banks. Forfaiting provides liquidity to exporters, fixes the financing rate, and keeps the transactions confidential.
Principles of bank lending
The document discusses the importance of bank lending principles for making sound lending decisions. It outlines several key principles for banks to consider, including the 5 Ps - People, Purpose, Payment, Protection, and Prospects. Major portions of a bank's assets and earnings come from advances/loans, which also carry the greatest credit risk. Following sound lending principles can help ensure loans are given to reliable customers for approved purposes, with adequate collateral and ability to repay, thereby reducing loan defaults and losses.
Lease finance
This document defines leasing and describes its key features and types. It begins with defining leasing as a written agreement where a property owner allows a tenant to use the property for a specified period in exchange for fixed installment payments. It then discusses the main features of leasing, including that it allows use of an asset without paying the full upfront cost. The document also outlines the main advantages and disadvantages of leasing. Finally, it describes the main types of leasing, including finance leases, operating leases, leveraged leases, sale and lease back, and direct leasing.
RBI AND FUNCTIONS
The document provides an overview of the Reserve Bank of India (RBI), including its history, organization, functions, and role in monetary policy. Some key points:
- RBI was established in 1935 and serves as India's central bank, regulating the country's monetary policy and currency.
- Its key functions include financial supervision of banks, managing monetary policy, issuing currency, acting as banker to the government and banks, regulating the financial sector, and managing foreign exchange.
- RBI aims to control inflation through monetary policy tools like repo and reverse repo rates, cash reserve ratios, and open market operations. It also plays a developmental role in agriculture lending and disaster relief.
FUNCTIONS OF INSURANCE
Insurance is defined both functionally and contractually. Functionally, it is a cooperative device to spread risk over multiple individuals exposed to the same risk. Contractually, it is an agreement where an insurer takes on the risk of a large loss in exchange for regular premium payments. The primary functions of insurance are providing protection from economic loss, collective risk bearing by sharing losses among policyholders, evaluating risks, and providing certainty. Secondary functions include preventing losses, covering larger risks with small capital contributions, and facilitating development of large industries. Insurance also serves as a savings/investment tool, earns foreign exchange, enables risk-free trade, and provides indemnification for unanticipated losses.
Euro Market
The document discusses the Euro market, which facilitates trade between member nations of the European Union through a common currency (the Euro) and the free movement of goods and services. It describes the Euro market as comprising multiple nations that use the Euro, acting as a major source of international trade. Additionally, it provides details on related terms like the Eurocurrency market, Euro banks, and features of the Euro market such as being international, independent, competitive, and a short-term inter-bank market.
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The Money Market is a place for large institutions and the government – to manage their short term cash needs.
3. Trading - Types of derivatives
Descriptions and explanation of all types of derivative instruments to trade with on the capital market.
http://www.koffeefinancial.com/Static/Learn.aspx
Ppt insurance ...
The Insurance Act of 1938 was the first legislation governing all forms of insurance in India and provided strict state control over the insurance business. It aimed to safeguard policyholder interests and establish norms for smoothly conducting the insurance business and minimizing disputes. Subsequent acts like the Insurance Regulatory and Development Authority Act of 1999 established regulatory authorities to further protect policyholders, regulate the industry, and ensure its orderly growth.
Markowitz model
The Markowitz Model assists investors in selecting efficient portfolios by analyzing possible combinations of securities. It helps reduce risk through diversification by choosing securities whose price movements are not perfectly correlated. The model determines the efficient set of portfolios and allows investors to select the optimal portfolio based on their preferred risk-return tradeoff. Markowitz introduced diversification and showed holding multiple lower-risk securities can reduce overall portfolio risk compared to a single higher-risk security. The model calculates expected returns, variances, and correlations between securities to determine the minimum risk portfolio for a given level of return.
Profit maximisation vs wealth maximisation
Manpreet Kaur discusses the differences between profit maximization and wealth maximization as objectives for financial management. [1] Profit maximization aims to increase earnings and is a short-term approach, but it can exploit workers and consumers. [2] Wealth maximization seeks to increase long-term shareholder value by maximizing the current stock price, balancing the interests of various stakeholders. [3] While both have drawbacks, wealth maximization is generally considered a more appropriate objective as it considers the time value of money and risk over the long run.
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Presentation on the life insurance and its product along with the premium calculation and payment options for the life insurance
Insurance
Insurance is a means of protection from financial loss and a form of risk management. It involves an insured assuming a small known loss of paying a premium to an insurer in exchange for the insurer's promise to compensate for larger covered losses. There are various types of insurance like life, health, car, home, and education insurance that provide protection against different risks. Insurance plays an important role by spreading risks and costs to provide financial and medical support. It also provides tax benefits and is essential for protecting individuals and businesses from uncertainties.
All about insurance in india
Learn all about insurance ,the types of insurance plans, their various benefits and how to buy a insurance policy.
Presentation 1
Insurance provides protection from financial losses by allowing individuals to pool risks. There are various principles of insurance including utmost good faith, insurable interest, indemnity, subrogation, proximate cause, mitigation, and contribution. The main types of insurance are life, fire, and marine. Life insurance provides protection for death and funds for retirement. Fire insurance covers property losses from fire. Marine insurance protects goods and cargo being shipped by sea.
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Banking and insurance
- 1. INSURANCE AND TYPES OF INSURANCE (PRESENTED BY JAGANNATH OJHA AND RANJAN KUMAR DALAI ) IPSAR B-SCHOOL
- 2. Insurance is a legal contract that transfers risk from a policyholder to an insurance provider. An agreement that states something is protected if it is damaged ,hurt , or stolen. insurance is a means of protection from financial loss. An entity which provide insurance is known as insurer ,insurance company or insurance carrier • A person who buys insurance is known as an insured, or policy holder.
- 4. •Life insurance can be defined as an agreement between the policy owner and the insurer where the insurer agree to pay sum of money upon the occurrence of individual deaths or other event such as illness and critical illness. •Life insurance can be divided into two types 1-Term life insurance 2-permanent life insurance
- 5. •Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term.. •These policy are usually for 5, 10 , 15 ,20 years..
- 6. •Permanent life insurance provides life long protection and the ability to accumulate cash value on tax deferred basis •It is also called whole life insurance because it provide life time coverage with benefit
- 7. •General insurance or non life insurance policy including auto mobiles and home owners policy •General insurance is typically defined as any insurance that is not determined to be life insurance •There are many types of General insurance such as –motor insurance ,Health insurance ,Trvel insurance ,Home insurance
- 8. •Motor insurance can be divided into two group ,one is four wheeler insurance and other is two wheeler insurance •Its primary use is toprovide financial protection from physical damages
- 9. •Health insurance covers your medical expenses due to diseases and accident •Health insurance is a contract between individual/group and the insurer •It include individual health ,family insurance
- 10. •Travel insurance can be help ful in many way ,It protect travelers from the unexpected •It is an insurance policy that to covers medical expenses ,flight delays and loss of bag , •Travel insurance can be arranged at the time of booking of a trip or it can be arranged later
- 11. •Home insurance covers certain events like fires ,and some natural disaster. •Home insurance doesnot cover flood, act of war or earthquake