The essentials of any Insurance Contract are discussed as under with reference to the life Insurance only. 1. Offer & Acceptance: In Life Insurance an offer can be made either by the Insurance company or the applicant (proposer) & the acceptance will follow. e.g., subsequently (a) An offer made by the Insurance company to proposer that Life insurance contains the element of investment and protection, while the accidental, sickness or health insurance contain the element of indemnity only. Property Insurance: Contract of property insurance is a contract of indemnity. Proof by the assured of loss is an essential element of property insurance. All insurance contracts, however, will essentially contain the same principles and processes. Such policies will usually assume the risk of an event that may or may not occur, and they will likewise pay the cost of a claim if such events do occur. Your life insurance contract is the most important part of the whole insurance process.

Read about the different types of life insurance policies available in India and what makes term insurance the  A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment,  MEANING OF LIFE INSURANCE “ A contract of Life assurance is that I which one party agrees to pay given sum on the happening of a particular event  A life insurance policy is a contract with an insurance company. In this policy, a person has to make regular payments(known as premiums)to the insurance  Types of Life Insurance Policies in India: There are 8 types of life insurance plans which includes term insurance, ULIPs, endowment plans, retirement plan and  Insurer is ERGO Life Insurance SE Eesti f liaal. • Policy holder is a person who has an insurable interest and has entered an insurance contract with the insurer.

The insurance contracts, which deal with disability, accidental death alone, sickness etc. are excluded from the purview of life insurance. However, life insurance contracts can have benefits payable on the accidental death or disability of the persons insured as additional benefits on the basic life insurance contracts.

Universal life policies are also more flexible in regard to premiums and face value. Premiums may be increased, decreased, or deferred, and cash values can be  Read about the different types of life insurance policies available in India and what makes term insurance the  A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment,  MEANING OF LIFE INSURANCE “ A contract of Life assurance is that I which one party agrees to pay given sum on the happening of a particular event  A life insurance policy is a contract with an insurance company. In this policy, a person has to make regular payments(known as premiums)to the insurance  Types of Life Insurance Policies in India: There are 8 types of life insurance plans which includes term insurance, ULIPs, endowment plans, retirement plan and  Insurer is ERGO Life Insurance SE Eesti f liaal. • Policy holder is a person who has an insurable interest and has entered an insurance contract with the insurer.

A pure protection plan, such as a term insurance policy, offers only the death benefit. However, there are several types of life insurance policies that offer savings in 

Know about different types of life insurance policies to secure your family's future with plans such as ULIP, term insurance, whole life insurance and others. A pure protection plan, such as a term insurance policy, offers only the death benefit. However, there are several types of life insurance policies that offer savings in  With a life insurance contract, the insurer binds itself to pay a certain sum upon the death of the insured. In exchange, the policyowner pays premiums. The  Life Insurance plan is a contract between an individual (policyholder) and an insurance company (insurer). Under the contract, the policyholder pays a certain   Life insurance ppt 1. Presented By:Ria John (10090)Rini Thomas(10091) 2. Life Insurance can be termed as an agreement between the policy owner and the insurer, where the insurer for a consideration agrees to pay a sum of money upon the occurrence of the insured individuals or individuals death or other event, such as terminal illness, critical illness or maturity of the policy.12/28/2011 Explain the purpose and basic characteristics of life insurance. 1 in 5 households have no life insurance. Can be used for term or permanent life insurance. – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: 242c1-YTQxZ

Read about the different types of life insurance policies available in India and what makes term insurance the 

The essentials of any Insurance Contract are discussed as under with reference to the life Insurance only. 1. Offer & Acceptance: In Life Insurance an offer can be made either by the Insurance company or the applicant (proposer) & the acceptance will follow. e.g., subsequently (a) An offer made by the Insurance company to proposer that Life insurance contains the element of investment and protection, while the accidental, sickness or health insurance contain the element of indemnity only. Property Insurance: Contract of property insurance is a contract of indemnity. Proof by the assured of loss is an essential element of property insurance.

Types of Life Insurance Policies in India: There are 8 types of life insurance plans which includes term insurance, ULIPs, endowment plans, retirement plan and 

With a life insurance contract, the insurer binds itself to pay a certain sum upon the death of the insured. In exchange, the policyowner pays premiums. The  Life Insurance plan is a contract between an individual (policyholder) and an insurance company (insurer). Under the contract, the policyholder pays a certain   Life insurance ppt 1. Presented By:Ria John (10090)Rini Thomas(10091) 2. Life Insurance can be termed as an agreement between the policy owner and the insurer, where the insurer for a consideration agrees to pay a sum of money upon the occurrence of the insured individuals or individuals death or other event, such as terminal illness, critical illness or maturity of the policy.12/28/2011 Explain the purpose and basic characteristics of life insurance. 1 in 5 households have no life insurance. Can be used for term or permanent life insurance. – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: 242c1-YTQxZ The insurance contracts, which deal with disability, accidental death alone, sickness etc. are excluded from the purview of life insurance. However, life insurance contracts can have benefits payable on the accidental death or disability of the persons insured as additional benefits on the basic life insurance contracts. Statements that provide information about the property or Person or persons for whom protection is provided. Declarations sections contains Named insured – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: 99b84-ZGYxZ

It develops the habit of saving. The deposited insurance premium cannot be withdrawn like a bank deposit. Life insurance is the best method of saving an investment. It is a good means to make provision for retirement age. Writing and registration The insurance contract must be in writing, duly signed, stamped and registered. Warranties Life insurance contains the element of investment and protection, while the accidental, sickness or health insurance contain the element of indemnity only. Property Insurance: Contract of property insurance is a contract of indemnity. Proof by the assured of loss is an essential element of property insurance.