2007-01-22 02:49:59 · 11 answers · asked by pepe 1 in Business & Finance ➔ Insurance
Insurance companies play the role as 'private social welfare organisation'. They help the society in achieving a balance between risk transfer.
Insurance companies are financially stronger party compared to individual (financial weaker party). Individual transfer his risk, for example financial losses risk due to accident to insurance companies by paying an amount of money (we called it premium). The insurance company, in exchange will provide the coverage (we called it sum assured) to the individual.
Normally, for whole life insurance policy, if you pay 3 dollar of premium, you will get 100 dollar of coverage.
With insurance, you can create instant cash when disaster like permanent disability due to accident strike. When every individual has got insurance policy, the society will definitely stable and the problems arise due to loss of income can be reduced to minimum.
2007-01-22 13:13:44 · answer #1 · answered by malaysiainsuranceguide 3 · 0⤊ 0⤋
Basically, Insurance is available for business as general insurance and for individuals as Life protection. They are generating the kind of awareness nowdays which does not exist in the yester years and this all the good for everyone. While few private insurers may be attempting to give rosy picture to attract the new customers, the presence of Public Sector with sober policies is acting as check mate. What is in store for us with participation of FDI in insurance sector is difficult to guess at this stage. Let us wait and see. That is all.
2007-01-22 03:01:54 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Commercial property insurance policy offers protection to commercial establishments against a myriad of risks and perils. As companies grow larger and expand their business, they need to safeguard their business against potential contingencies. Insurance companies provide commercial insurance to a number of businesses ranging from large MNCs to small shopkeepers.
The scope of commercial business insurance extends to the building as well as the contents inside the office. Protection is also offered for loss of income due to business interruption and losses caused by fraud or dishonesty committed by any salaried employee.
2007-01-22 04:18:38 · answer #3 · answered by Kevin 5 · 0⤊ 0⤋
see Insrance comapany have sevral and big contributor of indian economy ..right
1. they provide life cover and secure life which covers life for financial purpose.
2. tax saving for salaried person
3. Investment solution so that proper finacial planing can b done for life and faimly
4. companies like ICICI prudential are having direct intrection with equity market.. which is miror of indian ecnomy....
5. providing and offering jobs and huge salaries to highest number of youth in india....means giving number of imployment...
for further query feel free to contact
sapan bhuriya
financial services consultant
ICICI prudential life insurance co. ltd
Vasant kunj new delhi
contact : 9873913189,9891343998
sapan.bhuriya@iciciprulife.com
2007-01-22 03:06:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Ensuring your interests (life/property)are protected by paying a small amount of premium.
Helping you to be independent during your old/non-earning age.
Helsp you live with Self Respect.
2007-01-22 05:21:09 · answer #5 · answered by A.Mohamed Ali 1 · 0⤊ 0⤋
They find new market to loot money of common man.
2007-01-22 02:56:31 · answer #6 · answered by Ashish N 4 · 0⤊ 0⤋
spread awarness of getting insured
2007-01-23 21:26:58 · answer #7 · answered by injain1161 1 · 0⤊ 0⤋
it adds to safe life.decreases the mt. everest high stresses going in our life.It also allows us to live life more lively.
2007-01-22 02:55:59 · answer #8 · answered by vipin s 1 · 0⤊ 0⤋
economical security to human life and other things
2007-01-22 03:11:21 · answer #9 · answered by khanna S 2 · 0⤊ 0⤋
I don't know but their stocks sure suck right now... I regret that mess!
2007-01-22 02:57:10 · answer #10 · answered by Anonymous · 0⤊ 0⤋