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प्रश्न
What is 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 the risk of a contingent or uncertain loss. Insurance is a contract between the insurer and the insured, whereby the insurer agrees to compensate the insured against loss. The insured has to pay a certain fixed sum of money on a timely basis to the insurer.
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संबंधित प्रश्न
Distinguish between the following:
Life insurance and Fire insurance
Explain the types of fire insurance policies.
The principle of ______ is not applicable to life insurance.
In ________ policy, several ships belonging to one owner are insured under the same policy.
Correct the underlined word and rewrite the following sentence.
Insurance helps to maximize the risks in the business.
Explain the following term/concept.
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?
Distinguish between Life Insurance and Marine Insurance.
State four life insurance policies?
Justify the following statement.
Principle of subrogation is applicable to all contracts of indemnity.
Explain marine insurance policies.
In ___________ policy subject matter is insured for specific voyage irrespective of time.
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 |
Correct the underlined word and rewrite the sentence.
The person who is protected against certain losses is known as insurer.
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:
Explain the following term/concept:
Insurable Interest
What is Fire Insurance?
Distinguish between Life Insurance and Fire Insurance.
Distinguish between.
Life Insurance and Fire Insurance
Life Insurance and Fire Insurance.
Distinguish between Life Insurance and Fire Insurance.
Distinguish between Life Insurance and Fire Insurance
Distinguish between LIfe insurance and Fire insurance.
Distinguish between Life Insurance and Fire Insurance.
