For BBA students

1.  Insurance is a contract/ legal agreement
between two parties i.e.., the individual
named insured and the insurance company
called insurer. The contract itself is called the
policy.

2.  Insurance provides security to both individuals and businessmen
against possible risks and the financial loss of the policyholder.
 Insurance thus gives safety against economic difficulties to the
businessmen and families.
 The benefit of insurance is managing cash flow uncertainty.
 Insurance provides payment for covered losses when they occur.
 It improve Efficiency…
 It helps the economic progress..
 It protects your income from unexpected expenses…
 It protects the money you are saving for future plans…

3.  Life Insurance.
 Health Insurance.
 Automobile Insurance.
 Marin Insurance.
 Fire Insurance.

4. It is defined as a contract or agreement,
according to which the insurer(insurance
company), in consideration of a premium paid
in lump sum or in periodic installments
undertakes to pay a specified amount of money
either on the death of the insured or on the
expiry of the specified number of years in the
life policy.

5. Health insurance is an insurance that covers the
whole or a part of the risk of a person incurring
medical expenses, spreading the risk over
numerous persons.

6. Auto insurance is a contract between you and the
insurance company that protects you against
financial loss in the event of an ancient or theft.

7. Is the oldest kind of insurance. Its major
purpose was to provide to the loss of ships and
cargo at sea. In recent times, it has been
subdivided into the following two major forms
of transportation coverage.

8. Fire insurance is a contract between the
insurance company and the policy holder,
where in the insurance company undertakes, in
exchange of payment of premium, to indemnity
the any accidental loss or damage caused to the
insurance property of the insured due to fire.