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Insurance
- Insurance is a written
agreement between an
individual and an
insurance company. The
insurance company will
pay money to individual
if they suffer a loss.
- A proposal form is an
application form for
insurance.The applicant
must answer the
questions about
themselves and the
item they wish to
insure.
- Home Insurance, policies cover a range of
losses such as fires,theft and flooding.
- All risks insurance cover the loss or
damage to a person's belongings when
they are outside the house.
- All risks insurance cover the loss or
damage to a person's belongings when
they are outside the house.
- Life Assurance
- policies pay a sum of money to the policy
holders family in the event of their death
- Term Assurance is taken out for a
certain'term'. It pays out a lump
sum of money if the person dies
during agreed period
- Term Assurance is taken out for a
certain'term'. It pays out a lump
sum of money if the person dies
during agreed period
- policies pay a sum of money to the policy
holders family in the event of their death
- Car Insurance covers
any damage to cars
- Third Party Insurance
only covers damage to the
other drivers car in the
event of an accident.
- Third Party Insurance
only covers damage to the
other drivers car in the
event of an accident.
- Personal Insurance cover for the
insured person in the event that they
become sick or suffer an injury
- Income Protection Insurance provides a
replacement income if the person is unable
to work due to illness
- Income Protection Insurance provides a
replacement income if the person is unable
to work due to illness
- Principles Of Insurance are Insurable
interest, Idemnity,Utmost Good
Faith,Subrogation and Contribution.
- An actuary is the person who
asses risk and calculates the
premium for insurance company
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