What is the Risk ?

  • Risk is the chance of loss.
  • Risk is the possibility of an unfortunate occurrence.
  • Risk is the uncertainty of loss.
  • Risk is the dispersion of actual from expected - results.
  • Risk is the probability of any outcome different from the one expected.
  • Risk is a condition in which a possibility of loss exists.
  • Risk is the combination of hazards.

What is the insurance?


Insurance is a contract between two parties i.e. insurer and insured whereby the insurer, in return for a consideration undertake during a stated period to indemnify the insured to an agreed amount for the value of such defined property as is damaged by some insurable perils.

What is Life Insurance?


Life insurance contract may be defined as the contract, whereby the insurer in consideration of a premium undertakes to pay a certain sum of money either on the death of the insured or on the expiry of a fixed period.

What is Reinsurance?


Reinsurance is an insurance that is purchased by an insurance company (insurer also sometimes called a “cedant” or “cedent”) from another insurance company (reinsurer) as a means of risk management.

What are the documents of Maturity Claim?


Required documents of maturity claim are given below:

(a) Proof of age, if age is not already admitted.
(b) The policy document for cancellation.
(c) If there is an assignment executed on a separate paper, such a document has to be surrendered before the settlement of the claim.
(d) Discharge voucher duly completed by the policyholder.
(e) In case the policy document is lost or destroyed the claim can be settled on the basis of the indemnity bond executed by the policyholder and a surety of sound financial standing.

What are the documents of Death Claim?


Required documents of Death claim are given below:

(a) Proof of age, if age is not already admitted.
(b) The policy together with separate assignment, if any.
(c) Proof of death, such as a certified extract from the register of deaths maintained by the municipalities, the local boards, or other competent authority. If death is due to unnatural cause such as murder, suicide, drowning or an accident, a certified copy of the policy inquest report together with the copy of the post mortem examination report is necessary.
(d) Certificate from a doctor who attended the deceased during his last illness.
(e) Certificate of indemnity on a respectable person who saw the body of the done see.
(f) A certificate from the last employer, if any.