Search:

An article on Insurance and related topics

For additional information and special deals related to some of the items on this article, place your cursor over the double-underlined links. All information supplied by Kontera.com

VARIOUS INSURANCE SCHEMES YOU CAN USE

By: wachira54 thientanopajai54

INSURE YOUR ASSETS

Insurance is defined as form of risk management basically used to hedge against the risk of a contingent loss. It is also the equitable transfer of a risk or loss, from one entity to another in return for a premium. The insurer is the company that sells the insurance for a premium. The premium is determined by the insurance rate, for a certain amount of risk coverage.

The majority of insurance policies are provided for individual units of large classes. The insurers benefit from the large number of homogenous units they sell as the number of exposure units increases, the actual results are likely to be close to the expected results.

In order to claim the insurance the loss should have taken place at specified time and place, and the cause of the loss should be reasonably evident. Sufficient information should be provided to the insurer so that they objectively verify the time, place and cause of loss. In order to claim the insurance there should be accidental loss, i.e. it should be fortitutious and outside the control of the beneficiary. Events like business risks that contain speculative elements are generally not considered worthy of insurance.

On purchasing a policy you have to draw up a contract with the insurer or the company offering insurance. There are two types of insurance contracts; an "indemnity" policy and a "pay on behalf" or "on behalf of" policy. The difference is merely on paper, but not in practice.

Health insurance policies cover the cost of private medical treatment if any publicly funded program does not pay for them. It allows the insured to take the best and quickest treatment wherever available. Dental insurance covers the individual’s dental expenses.
Disability insurance provides financial support to the policy holder during the period when they are unable to work because of disabling illness or injury. Total and permanent disability insurance provides monetary benefits when the person is permanently disabled and can no longer work in their profession.

Property insurance provides protection against risks to property from theft, fire, weather, earthquake and flood insurance. Casualty insurance covers protection against accidents, not necessarily tied to any property. Automobile insurance also known as motor insurance and can cover both legal liability claims against the driver and loss of or damage to the insured's vehicle.

There are many more types on insurance covering all possible risks that man can face from natural or man made causes such as aviation insurance , boiler insurance , builders risk insurance , crime insurance , crop insurance , earth quake insurance , flood insurance ,marine insurance , political risk insurance , surety bond, terrorism insurance , volcano insurance , and windstorm insurance .

I policies are dealt by two types of companies, they are
Life insurance companies which sell life insurance, annuities and pensions products and
Non life or general insurance companies which sell other types of insurance.
General insurance companies can be further divided into these sub categories.
Standard Lines and Excess Lines.

Article Source: http://ezine-articles-planet.com

wachira thientanopajai is the author of this article on insurance. Find more information about auto insurance here.

Please Rate this Article

Not yet Rated

Click the XML Icon Above to Receive Insurance Articles Via RSS!

Additional Articles From - Home | Finance | Insurance

Authors, Sign Up for a free account or learn more.

	Print This Article
	Post Comment
	Add To Favorites
	Email to Friends
	Ezine Ready

Writers/Authors Submission Guidelines
Member Login
Submit Articles
Most Popular Articles

Publishers Article RSS Feeds
Terms of Service

Free Affiliate Training

Share This Page:

Site Information Link to Us
About Us
Site Blog
Contact Us
Privacy Policy
Multi Site Article Search
Links Directory

AdSense Secrets v4.0

First Universal Platnum $7500 Guaranteed

Is This Site Useful?
If you found this site useful, please consider buy the webmaster coffee and get a free link back to your site!

Thanks for your support!

Please Rate and Vote For Us: