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Cute Telugu Actress Kajol Agarwal - Cute Telugu Actress Kajol Agarwal has been one such actress who has reached with great name and fame within short period of time. Much before her debut fli...
16 years ago
PURPOSE OF INSURANCE
Posted by KKThe purpose of insurance is to minimize the loss or damage arising from unforeseen circumstances. Insurance is relevant only when there is uncertainty as to the happening of the event. Insurance envisages sharing of similar risk.
NEED FOR INSURANCE
Posted by KK* Human being is an income generating asset. Unexpected death or incapacitation of the bread-winner will result in the loss of future income thus putting the family under financial crisis. * Life Insurance is aimed at avoiding this eventuality. * Insurance does not avoid the peril; it only mitigates the loss due to the peril.
What are the other alternatives to Insurance ?
Posted by KK* One alternative to Insurance is to provide self-Insurance i.e. the individual has to create a fund to meet risk exigencies. * Specified trusts have also tried to provide insurance by a scheme of self-insurance. However, these are not very popular. * The postal department provides Insurance coverage to all working people. * There are many financial instruments which advocate savings and provide future returns at specific intervals such as the provident fund and pension plans. However, none of these provide for life coverage.
