Author name: Mehesh

advantages and disadvantages of fire insurance

5 Advantages and 4 Disadvantages of Fire Insurance Policy [Explained]

Advantages and Disadvantages of Fire Insurance One of the advantages you can enjoy from your fire insurance policy is that protection for your properties from fire. And, one of its disadvantages is that it can be costly. Let’s understand the main advantages and disadvantages of fire insurance policies. Advantages of Fire Insurance Policy The following […]

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principles of insurance

The 7 Major Principles of Insurance Contract [Explained]

Principles of Insurance Insurance is a legal contract between the insurer (insurance company) and the insured (policyholder i.e. individual or a business). Understanding the principles of insurance and how these principles work can be beneficial for you in deciding whether or not you need the insurance contract or not. Further, these principles let you decide

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Requirements of insurance contract

6 Requirements Of An Insurance Contract [Explained]

Requirements of Insurance Contract Insurance companies normally insure only pure risks but all risks are not insurable. For insurance certain requirements must be fulfilled before a pure risk can be insured. From the insurer i.e. insurance company point of view, there are usually six requirements or essentials of the insurance contract. They are mentioned below:

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pros and cons of insurance

6 Pros and 4 Cons of an Insurance Contract [Explained]

Pros and Cons of Insurance Contract Insurance is a risk management device that protects businesses as well as people from financial losses. The following are the main advantages and disadvantages or pros and cons of insurance contracts. Advantages/Pros of Insurance Provides Financial Security An insurance contract is a way to protect yourself and your loved

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life insurance

What is Life Insurance Policy? Definition, Types, Benefits, and Examples

Life is unpredictable. Tomorrow what will happen, no one can predict exactly. As such, people to reduce the uncertainties from the coming future tend to buy life insurance policies. So, what is a life insurance policy, what are its benefits, let’s discuss. What is Life Insurance? Life insurance is a contract between the policyholder and

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