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: … Read more
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 … Read more
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 … Read more
Types of Life Insurance Term life insurance and whole life insurance are the two main types of life insurance policies. However, depending upon the nature of insurance and the desire of the policyholders there can be many types that those two. So, let’s understand the main types of life insurance policies. Term Life Insurance Term … Read more
Factors Affecting Life Insurance Premium A life insurance policy is one of the best ways to protect your loved ones when something bad, say, death happens to you. When you have a valid life insurance contract, you may be confident if unforeseen happens to you, your family will be protected. For this, you have to … Read more
Advantages and Disadvantages of Life Insurance One of the advantages of a life insurance policy is that it can help your loved ones when you no longer exist on the ground. And, one of the disadvantages of a life insurance policy is that it can be much more expensive when you age. Let’s understand the … Read more