Go Back   The Finance Forums > Finance forums > Insurance



Insurance Life assurance, car insurance, holiday insurances, etc - discuss insurance and ask questions about insurance and insurance companies here.

Reply
 
Thread Tools
  #1  
Old 01-29-2014, 11:05 PM
mira mira is offline
Junior Member
 
Join Date: Jan 2014
Posts: 18
Default Insurance

Insurance is a policy in which insurer compensates loss caused by unforeseen events in the future in exchange of premiums paid by the policyholder. It is a way of diversifying risk. There are two types of policies: life insurance and non-life insurance.
Life insurance policies are of two types: whole life insurance, term life insurance (also called endowment life insurance). It is better to get term life insurance than whole life insurance. Many companies claim to offer cheap term life insurance, however we can determine which fits our needs by comparing them only.

Non-life insurance policies are of various types. They are marine insurance policy, automobile insurance policy, real estate insurance policy, etc.
Reply With Quote

Old Sponsors
  #2  
Old 07-25-2014, 06:36 AM
rossi100 rossi100 is offline
Junior Member
 
Join Date: May 2014
Posts: 4
Default Re: Insurance

You cannot prevent the calamities that are about to strike your beautiful house. Nevertheless, you can shield it against these possible catastrophes by procuring a house insurance cover. In order to protect your valuable household possessions, you have to purchase a cheap home insurance scheme. GreenLife Insurance Broking Limited gives you access to a bouquet of plans out of which one can be selected and bought directly online. There are seldom any formalities like other online portals except filling a form with just few personal details. So protect your expensive residential property by finding a sensible house insurance quote at GIBL.
Reply With Quote

  #3  
Old 11-05-2014, 01:12 AM
JennyMorrow JennyMorrow is offline
Member
 
Join Date: Jan 2014
Posts: 46
Default Re: Insurance

One of the most important and must have insurance is the medical Insurance / health care insurance. Each and every family member’s should have medical insurance policy to cover hospitalization expenses especially if anyone is living in other countries. In UAE, ADCB offers comprehensive health insurance coverage for inpatient facilities across major hospitals in India for NRIs, with a maximum insured sum of Rs. 500,000. Visit 'adcb.com' for more info.
Reply With Quote

  #4  
Old 02-12-2015, 12:27 PM
jeffnev jeffnev is offline
Junior Member
 
Join Date: Dec 2013
Location: South East England
Posts: 25
Default Re: Insurance

That's an interesting fact about the UAE, is that why so many expats head that way? I know many people who have set up a comfortable residency there.

The truth is many people don't want to think about having life-insurance, especially if there within the early stages of their lives, but the truth is it's important to set-up a policy that covers you and your family against financial downfalls after your death.

There's also many cases of poorly sold insurance that does not cover the intended person from anything; PPI anyone? But knowing how to claim PPI can help people avoid such mistakes, or at least rectify the situation if they do.
Reply With Quote

  #5  
Old 12-07-2015, 08:15 AM
zakikalb zakikalb is offline
Junior Member
 
Join Date: Dec 2015
Posts: 3
Default Re: Insurance

Absolutely true, insurance is a way of diversifying risk. Protection plan helps us to protect our life, our family and other important belongings. I personally feel that each human being should have insurance which will help us to protect the important things our lives and planning for the safe future.
Reply With Quote

  #6  
Old 12-07-2015, 09:03 AM
zakikalb zakikalb is offline
Junior Member
 
Join Date: Dec 2015
Posts: 3
Default Re: Insurance

Reputed banks like UAE BANKS FEDERATION, ADCB, Commercial Bank of Dubai, Mashreq Bank, Central Bank offers online remittances service, the safest way to transfer money to India that exists today.
Reply With Quote

  #7  
Old 05-28-2016, 06:37 AM
finheal finheal is offline
Member
 
Join Date: May 2016
Location: India
Posts: 34
Default Re: Insurance

Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or banner-page carrier, is a company selling the banner-page; the insured, or policyholder, is the person or entity buying the banner-page policy. The amount of money to be charged for a certain amount of banner-page coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
Reply With Quote

  #8  
Old 06-10-2016, 06:40 AM
finheal finheal is offline
Member
 
Join Date: May 2016
Location: India
Posts: 34
Default Re: Insurance

Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or banner-page carrier, is a company selling the banner-page; the insured, or policyholder, is the person or entity buying the banner-page policy. The amount of money to be charged for a certain amount of banner-page coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.

finheal.com/insurance
Reply With Quote

  #9  
Old 12-13-2016, 12:41 AM
elizabethgrimm's Avatar
elizabethgrimm elizabethgrimm is offline
Member
 
Join Date: Nov 2016
Posts: 47
Default Re: Insurance

One of the most important parts of business is insurance. Insurance provide protection when your business are in effected by fire, earth quick etc.
Reply With Quote

  #10  
Old 01-29-2017, 04:01 AM
stewartdean98 stewartdean98 is offline
Junior Member
 
Join Date: Jan 2017
Posts: 23
Default Re: Insurance

Top 5 biggest life insurance myths

There are several misconceptions about life insurance. It is a popular notion that older or married individuals with kids should invest in one, or that the insurance only offers post-death benefit. Here we debunk some of the biggest life insurance myths…

Life insurance policy is critical to any financial planning. Yet it is never prioritized and is often considered complicated to decode. But it is always a good idea to invest in life insurance, more so sooner than later. Especially, since not having one when you need it can be devastating.

While there are quite a few common myths about life insurance, here is a list of the five biggest ones.

Myth 1: Single, without dependents. I don't need coverage
At the risk of sounding morbid, singles too need enough coverage to cover the costs of personal debts and medical bills. If uninsured, they could leave unpaid expenses for families to deal with. Even if single people are not saddled with such dire situations, it is a good way to leave a legacy to some cause. Also, many policies allow insurers to purchase additional coverage in the future. For example, HDFC Life offers Life Stage Protection – under Life option where the insurer can increase the insurance cover on certain key milestones of life like marriage, child birth without fresh medical test. So, the policy can be continued with changes if and when he or she decides to have a family.

Many employers too provide employees with life insurance. And even if it does seem like enough, what happens when one loses or leaves the job? Many insurance companies offer to convert optional insurance to an individual policy, but it may turn out to be more expensive than purchasing a policy in the long run. It is rather prudent to consider employer-provided insurance as a bonus.

Myth 2: Too young to think about coverage
There is no such thing as too young for life insurance. If you earn a salary, you might as well have insurance. Several independent studies and the Insurance Regulatory and Development Authority of India (IRDAI) observe that the insurance sector is a colossal and growing at a speedy rate. However, although the awareness about life insurance is increasing, the Indian youth is still misinformed about the cost.

Speaking in terms of smart finance, life insurance is financially more economical when opted for at a young age. The price of the policy is based on the age and health of the person being insured. Typically, premiums are less expensive when one is younger and healthier. When say a healthy 25-year old opts for a term policy the premium charges would be a fraction of what he/she would need to invest at later stages of life. Also, there is always a risk of developing a medical condition later on, which can make a policy much more expensive.

Myth 3: Only men need life insurance
While many families are prompt in getting a life insurance policy for the male breadwinner, coverage for the working woman is rarely factored into the financial planning. Most don’t even bother to insure the homemaker as they don’t have financial earnings. What if something were to happen to the lady of the house? Besides the emotional repercussions, the harried head of the family may need to get help to take care of the kids. And that, even in a developing nation like India, can cost a lot of money. Besides, this coverage will also give the father a chance to take time off and help the family adjust to their loss.

Myth 4: Insurance is of no use unless you die
It is critical to understand the type of life insurance that one needs to integrate in the financial plan. Term insurance is a life insurance product offered by an insurance company that offers financial coverage to the policyholder for a specific time period. Endowment plans, unit linked insurance plans (ULIPs), money back and more also cover life for limited term and post that if you survive the term – the plans provide returns unlike a term plan.

One can start by buying a term insurance, since it’s easier on the pocket and later on add other insurance products to the financial portfolio at various instances as and when required. However, the main reason for purchasing insurance is to provide financial protection for your loved ones in your absence; so it shouldn't be evaluated for returns. Also, it’s crucial to know that insurance policies are tax free.

Myth 5: Better to invest the money rather than lock it up in life insurance of any kind
Everyone, irrespective of their financial standing, needs life coverage. Solely depending on investments is not wise. It could mean that in case of an untimely death, the investor would leave very little provision for dependents. That would hit the family finances really hard after the depletion of assets.

It is important to think of life insurance as a way out to help in continuing life as usual when something unusual happens, and not as an instrument where money would be locked in for a long period.

Amidst its several offerings, HDFC life offers Additional Protection against Critical Illness where the policyholder is offered a lump sum payout on diagnosis of specified critical illnesses. Under Additional Income Benefit, the company also offers monthly income for 10 years on total permanent disability due to accident.

Illness can befall anyone without any notice, so better to be prepared than ignorant. It’s therefore best to opt to invest in a life insurance policy sooner rather than later.
Source: http://www.business-standard.com/con...0500285_1.html
Reply With Quote

  #11  
Old 02-01-2017, 05:44 AM
maxgadgetuk's Avatar
maxgadgetuk maxgadgetuk is offline
Junior Member
 
Join Date: Jul 2016
Location: UK
Posts: 16
Default Re: Insurance

Thanks for Sharing the post..

___________________
Freelancer Web Designer & Blogger
Best Hong Kong Tailors Casio Watches in UK
Reply With Quote

Old Sponsors
  #12  
Old 02-14-2017, 07:02 AM
elizabethgrimm's Avatar
elizabethgrimm elizabethgrimm is offline
Member
 
Join Date: Nov 2016
Posts: 47
Default Re: Insurance

Insurance is a means of security from financial loss. It is a form of danger administration primarily used to hedge against the risk of a contingent, uncertain loss.
Reply With Quote

Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



» Boards




All times are GMT -4. The time now is 10:38 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.