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प्रश्न
Explain the following term/concept.
Insurance
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उत्तर
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against contingent or uncertain losses. Insurance is a contract between the insurer and the insured, under which the insurer agrees to compensate the insured for loss. The insured must pay a fixed sum to the insurer on time.
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संबंधित प्रश्न
Distinguish between the following:
Life insurance and Fire insurance
Explain the types of Life Insurance Policies?
Explain the types of fire insurance policies.
In ________ policy, several ships belonging to one owner are insured under the same policy.
Answer in one sentence.
What is 'subject matter' in insurance?
Correct the underlined word and rewrite the following sentence.
Insurance helps to maximize the risks in the business.
Mr. Amit is a businessman. He has his own factories in Pune and Nashik. He lives in Pune with his wife and 2 daughters aged 5 and 8 years.
- Can Mr. Amit take a life insurance policy for his wife and 2 children?
- Can Mr. Amit take a marine insurance policy for his factories?
- Which type of insurance should Mr. Amit take for protecting his factories from loss due to fire?
Justify the following statement.
Principle of subrogation is applicable to all contracts of indemnity.
What is insurance?
In ___________ policy subject matter is insured for specific voyage irrespective of time.
Explain the following term/concept.
Marine Insurance
Explain the following term/concept.
Life Insurance
Explain the following term/concept.
Fire insurance
Study the following case/situation and express your opinion.
Mr. Sadagopan is a businessman he has two factories in Indore and Bhopal. He lives in Bhopal with his wife and two daughters aged 5 and 8 years.
- Can Mr. Sadagopan take life insurance policy for two children?
- Is child insurance is suitable for a wife of Mr. Sadagopan?
- Which type of insurance should Mr. Sadagopan take for protecting his factories from loss due to fire?
Distinguish between Life Insurance and Fire Insurance.
Find the odd one:
What is Fire Insurance?
Life Insurance and Fire Insurance.
