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Best Lesson Today What Is Insurance 2023 The Auto Insurance 2023 Car Insurance Auto Insurance

What is the meaning offer insurance types op insurance principles up insurance

Difference who do life insurance and general insurance types of life insurance and types of general insurance ah what is the meaning of insurance and at into into a which company all the state undertakes to provide a guarantee of competition for speech weight loss damage illness er det in return for payment of a special right premium now let’s see which are the different types of insurance did at two types of insurance

Foster’s life insurance and at the other is jindal insurance or non life insurance now we’ll see but insults have insurance first principle it’s principle of at most a good fit according to this principle of the insurance contract must be signed by both parties that is insurer and insured in an absolute good fit or belief or trust they should not hide anything from each other then the second principle is principle of insurable interest the principle of insurable interest states that the bus and getting ensure must have insurable interest in the object of insurance that vince you cannot get the insurance policy for the nip


A scar all for the nimbus get you shall have the insurable interest in the in the property or the person that he got in missed taking the insurance plan the toad insurance principle is principle of indemnity according to the principal of indemnity and insurance contract is signed only for getting protection against and but addicted financial losses are rising do to shooter uncertainties that vince the that the role of the in ensure that is to provide the good to the last happened the next principal principal them before is so


Principal of contribution it applies to all contracts of indemnity if the insured has taken out more than one policy on be same subject matter according to this principle the insured can claim to compensation only to the extent of actual last either from all insurer or from anyone in sure if one insurer based pool compensation then that ensured can claim protection proportionate claim from other insurers so if you’re caught has hundred thousand rupees or princip indemnity then you can take maximum of to that amount the next but but it’s principal op’s obligation according to the principle of sub litigation when the insured is compensated for the losses due to damage to the to his ensured property then the or

Ownership rights of such property ships due to the insurer principal number six his principal hoopla lost many major issue according to the principle of last minimisation insured must always tried his best to minimise the loss of is in short property in guess of certain you it’s like a fire broke out or blast etc you shall call the ensured person shall call the police or the fire brigade and he should put all his effort words to minimize the loss to the product or the property


And the next and in the last principle is principal off cause up doc zuma or nearest cause proximate cause is concerned with how the actual opens loss or damage happened to ensure party and with that it is a desert of and insured bet it it looks forward is the reason behind the loss is that is and in short barrel or not know the difference between life insurance and general insurance life insurance is an insurance contract which covers the life at risk of the boss and in short whereas the jungle insurance eat anything which is not coward under life insurance like motor have held at sector they are gentle insurance life insurance is a form of investment wettest general insurance is


Is only a contract op indemnity life insurance is for short or long to tom but it’s dental insurance is short term for see for two months one year old three years in life insurance premium has to be paid over the year however in general insurance premium has to a bead on lump sum


A life insurance a multi speed either on the occurrence on of the event or on maturity that is in the journal insurance losses it imposed or liability will be repaid on the occurrence of uncertain events in life insurance must be present the insurable interest must be present at the time a contract that as in general insurance and the interest must be present at the time or for contract as well as at the time of loss and the the last days policy value


-life insurance it can be done for any value best on the premium policy that as into general insurance the amount payable and that the life inch under the insurance contract is to the actual last suffered so the maximum amount you get is the last happened that types of life insurance first is tom insurance it is the pure insurance form it feared your nominee the some ensured in kiss off your demise they didn’t the policy done it does not how any some assured or unity among premium is very low second is endowment plan these plans


These are insurance and investment plan a certain portion of the premium his speed for protection of the life address them all these invested in law risk that instrument sort of the time of maturity the insured person gets a pre defined amount parties you’ll unit licked insurance plans these are newly introduced plans or couple of decades i will do will last you libs offer life production as well as the opportunity for capital appreciation by investing in various forms of reading degree of risks just like endowment policy in the ellipse a certain portion of the premium goes in providing life color they generally invest in equity market there for the return is not redefine it depends on the market return it has certain locking period see three years or five you up to that time you cannot withdraw the


Insurance then we come to the dental insurance types of general insurance the first end of the important is held in showed us a general health insurance plan is an indemnity planned that fees for hospitalization expenses up to the summit short while you can avail as stand alone health policy can to float to plan for cover companies to all the members of your family


Next it motor insurance motor insurance covers your vehicle against accident damage tapped vandalism and sought the form of insurance comes in two forms comprehensive and third party your colors three sixty degree of your car registered party gives you protection from towed by the damages happened due to your week


Hello then the home insurance a home insurance policy protects your home and eat it’s belongings from the damage suffered due to manmade or natural disasters some home instances insurance policies also provide coverage for temporary living expenses in guess you are living your rent do to your home undergoing that innovation then when other important insurance general insurance policy is so


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