Insurance is nothing but saving the life of the people by giving the compensation for their unexpected happenings. Insurance can be used as a money banker but at the same time no bank will provide sum insured amount for unexpected happenings, whereas an insurance company provides this facility. How safe will be an insured person? An insured person will be like not worried about the future happenings. (E.g. accidents, sudden illness). When will you make your life safe? You will make your life safe only when you are insured. What makes differences from the foreign insurance & Indian insurance? Recently, the countries like Japan and US are under stress when compared to Asian insurance companies. What is the
reason behind for the failure of the insurance companies globally? This is happened & happening because of low level of capitalization, and low level of returns on the portfolios of investments. People are online casino still not aware of the types of insurance policies available. There are different types of insurance policies. The insurance saves both living & non living being life. E.g.: Insurance for human being & insurance for costly furniture’s & home appliances & even for theft. How does an insurance policy save the life of a corporate person? There is something called “Income protection” for corporate people. A person gets his retirement in the age of 55 years. But, if something happens when he or she is on the job, this policy pays 65 to 75% of the gross amount of his salary. E.g.: A particular person meets some illness or accident so then he may be unable to earn the salary. Because of this the family will lose an income. This is being compensated by an insurance company and the particular policy is named as income protection policy.