INSURANCE

PRESENTED BY:
SYBMS.
  PRESENTATION GROUP
MEMBERS.

1. BEAULA RADHAKRISHNAN.
2. PINKY DHAMI.
3. BHAGYASHREE PATEL.
4. VIKRANTI MAURYA.
5. DIVYA PANDEY.
  INSURANCE
Insurance is a way of reducing your potential or
hardship. It can help cover the cost of
unexpected events such as theft, illness or
property damage . It can also provides with a
financial payment upon death.
  CHARACTERISTICS OF
INSURANCE:
1. pooling of losses.

2. payment of fortuitous losses.

3. Risk Transfer.
  NEED AND PURPOSE OF
INSURANCE:
 Insurance caters to the 3 areas.

1. Individual.

2. Business.

3. Society.
INDIVIDUAL.
1. Insurance provide security and safety.
2. Insurance eliminates dependency.
 BUSINESS.
1. Welfare of employees.
2. Business-efficiency is increased with
insurance.
 SOCIETY.
1. Wealth of the society is protected.
2. Economic growth of the country.
  INSURANCE POLICY

According to this principle, the insurance contract

must be signed by both parties (i.e insurer
and insured) in an absolute good faith or belief or
trust. ... The principle of Uberrimae fidei applies
to all types of insurance contracts.
  TYPES OF INSURANCE:

 Insurance in India is mainly of two types:

1. Life insurance.

2. Non-life insurance / General insurance.

 LIFE INSURANCE
• Life insurance is a policy that may be bought from a life insurance
company , which helps beneficiaries Financially after the owner of the
policy dies.
• Life based contracts tend to falling to two major categories :
1. Protection policy.
2. Investment policy.
  TYPES OF LIFE INSURANCE:

1. Term Insurance.
2. Endowment Insurance.
3. Whole life Insurance.
4. Money-Back Insurance.
5. Unit Linked Insurance Plans (ULIP).
6. Pension plan.
 BENEFITS OF LIFE INSURANCE:

1. Life risk cover .

2. Death benefits.
3. Return on investment .
4. Tax benefits .
5. Loan options .
6. Life stage planning .
7. Assured income benefits .
  GENERAL INSURANCE
General Insurance Definition. General insurance
covers insurance of property against fire, burglary,
theft; personal insurance covering health, travel and
accidents; and liability insurance covering legal
liabilities. This category of insurance virtually covers
all forms of insurance except life.
 TYPES OF GENERAL INSURANCE:

1. Motor Insurance.
2. Health Insurance.
3. Travel Insurance.
4. Home Insurance.
5. Marine Insurance.
6. Commercial Insurance.
THANK YOU.