Tag Archives: Life Insurance

The life Insurance deals with different risks

By | Published: December 30, 2009
In last few weeks, we are just dealing about the insurance and its terms. And now i am going to tell about some important terms about insurance. The life insurance business deals with risks relating to life of human beings. The circumstances that create the loss or damage(risks) are mainly two, death and old age. Insurance does [...]
Posted in Insurance Concepts | Also tagged , , , | Leave a comment

Insurable Interest

By | Published: December 29, 2009
All risks are not insurable. Otherwise, an insurance contract would be no different from a wagering contract or betting. It was explained earlier that speculative risks are not insurable. A wagering con tract is speculative in nature and is illegal in terms of  Section 30 of the Indian Contract Act. A subject matter of a [...]
Posted in Insurance Concepts | Also tagged , , , | Leave a comment

LIFE INSURANCE CONTRACTS

By | Published: December 29, 2009
A life insurance policy promises that the insurer will pay to the policyholder a certain sum of money if the person insured dies or any other soecified contingency happens. It is a contract, within the meaning of the Indian Contract Act, 1872. A contrct is an agreement between two or more parties to do, or [...]
Posted in Insurance | Also tagged , , | Leave a comment

Advantages Of Life Insurance

By | Published: November 18, 2009
Life insurance has no competition from any other business. Many people think that life insurance is an investment or a means of saving. This is not a correct view. When a person saves, the amount of funds available at any time is equal to the amount of money set aside in the past, plus interest. [...]
Posted in Insurance | Also tagged , , | Leave a comment