Advertisements
Advertisements
प्रश्न
Explain the following term/concept.
Insurance
Advertisements
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.
APPEARS IN
संबंधित प्रश्न
Distinguish between the following:
Life insurance and Fire insurance
Explain the types of fire insurance policies.
_____________ policy covers all types of risks of a vessel while it is anchored at the port for a particular period of time.
Find the odd one.
In ________ policy, several ships belonging to one owner are insured under the same policy.
Answer in one sentence.
What is 'subject matter' in insurance?
Study the following case/situation and express your opinion.
| Mr Jagan is a salaried person. He wants to take policy for his two children which assures them protection as well as completes their financial needs once they become major by age. |
- Suggest him a policy which can satisfy the requirements of his children.
- Who are beneficiaries of policy?
- In the above case which principle is involved?
Explain marine insurance policies.
What is insurance?
Match the correct pairs.
| Group A | Group B |
| A. Sprinkler policy | 1. provides a regular percentage of the sum assured |
| B. Child insurance | 2. marketing |
| C. Money back policy | 3. demand made by insured to insurer for loss occurred due to mishap |
| D. Claim | 4. profit |
| E. Insurance | 5. proposal |
| 6. protection from financial loss | |
| 7. for voyage | |
| 8. ULIP | |
| 9. suitable for children | |
| 10. 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:
Fire Insurance and Marine Insurance
Give one word or phrase for the following sentence:
Name of the policy where several ships belonging to one owner are insured under the same policy.
What is Fire Insurance?
Distinguish between.
Life Insurance and Marine Insurance
Life Insurance and Fire Insurance.
Distinguish between Life Insurance and Fire Insurance.
