This article throws light upon the two types of insurance. The types are: 1. Life Insurance 2. General Insurance. Type # 1. Life Insurance: There is a life insurance council that decides entire norms relating to life insurance in India; In fact life insurance plays different type of roles. As conceived by the Life Insurance council the Life Insurance is [...]
After reading this article you will learn about:- 1. Meaning of Insurance 2. Definition of Insurance 3. Nature 4. Basic Types 5. Need 6. Characteristics 7. Working 8. Functions. 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 upon the happening of a stipulated [...]
After reading this article you will learn about the meaning and types of reinsurance. Meaning of Reinsurance: Reinsurance means where a risk is considerable any insurance company would like to insure the risk up to a certain amount themselves. And put the excess risk out to a re-insurance company, or to a more than one, on the principle of diversifying [...]