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Showing posts with label Insurance. Show all posts
Showing posts with label Insurance. Show all posts

Wednesday, November 13, 2019

Wednesday, November 13, 2019

Aditya Birla Sun Life Insurance Company : A one of the best insurance company in India

Aditya Birla Sun Life Insurance Company: A one of the best insurance company in India

Hey readers, this topic is very fascinating because in this article we're going to talk about one of the best insurance company in insurance market. The Name of this company is ABSLI.

(Aditya Birla Sun Life Insurance Company)

Aditya Birla Sun life



Topics which are discuss in this article.

1. Introduction 
2. Income status
3. Network Area 
4. Categories

1. Introduction 

Aditya Birla Sun Life Insurance Company is an undertaking company of Birla Sun Life Assets Management Company. This company is a joint venture company of Aditya Birla Group of India and Sun Life Insurance group from Canada. This company was established on 4th August, 2000.



On 17th january, 2001 this company is start doing commenced operations.

ABSLIC is said to be One of the leading life insurance company of India. This company provides lots of insurance schemes to it's customer's. The category of insurance policy provided by ABSLIC to it's customers.
At current time this company cross more then 2 millions of policy holders. 
The percentage share of Aditya Birla Group in this company is 51% and 49% are owned by Sun Life Finance group.


2. Income status

If we talk about Income of this company let me clarify you that according to the recent reports Birla Sun Life Insurance Company Generate the total AUM of $ 410,110 million. This can be more in upcoming years. This company also generate annual income from premiums is about $ 12,617 million. This income is massive income as a insurance company. It will also increase in the upcoming years. 



3 . Life insurance categories

This company provides various kinds of policies to it's customers. This company has various categories of insurance company.
The categories of life insurance are listed below.

1. Life term solutions = In this category company provides whole life insurance policies to it's customer's.

2. Saving with protection = In this category company offers accidental coverage or disease coverage to the policy holder.

3. Children future solution = In this category of Insurance policy company offers insurance policies related to Children future coverage.

4. Pension solution plan = On this category company offers to their customer a pension plan after an suggested age.

5. Whole life term plan = This plan refers to a plan which gives a whole life cover plan to the policy holder. The return of this plan on the maturity is very high. This will give a huge benefit to the policy holder.


4. Network area of ABSLIC

It contains a large area or we can say networking area. In the current stage ABSLIC has their network in over 500 cities and 560 branches 85,000 advisors with 140 partner's. The network area of this company is great but there are some other companies who have more area then ABLIC.

Conclusion

So, here are all the information about Aditya Birla Sun Life Insurance Company (ABSLIC). This company is an leading company in their field and gave a tight competetion to it's competetors.

Hope you like. 

Thursday, September 19, 2019

Thursday, September 19, 2019

Debit card - A most usable banking facility


Debit card -  A most usable banking facility

Hey readers, in the past 5 years our country gets a huge bounce in every field in the whole world. The banking sector also makes having a huge achievement in its sector. The government has done lots of work in the banking industry to digitizing people and increasing awareness about the banking sector. 

The government of India makes a huge success in this matter because they opening 0 balance account and providing many other schemes for giving the best banking facility to every citizen of the country who had an account in any bank and educate people about the banking sector.

 
Debit Card

Banks provide many facilities and in this article, we're going to discuss one of the best facilities provided by banks of India to the general public.

 

So, what is this facility provided by the banks to the general public? 

The most usable facility which a bank provides to the general public is the Debit card.


So, what is A Debit Card?

A debit card refers to a physical plastic card enrolled with a chip who helps you to take your amount out that your deposit in your bank.


Boi Debit Card


Let us understand the concept of debit cards with a story.

If we are in that time when no DEBIT CARD is used for banking what kind of problems that customers have to face that is shortlisted by debit card.

Suppose you have a bank account in the Bank of India. You deposit 50,000 rupees in your bank account. After some time you need some amount of that money then what is the process of withdrawing money from the bank.

Firstly, they give form to you and request you to fill this.

Secondly, they match your sign that you give in to the banks and after done some more small procedures you get you required money it charger lots of time. 

The debit card exactly does the whole process on behalf of you. You just have to visit your near ATM machine of any bank and drop your debit card in this machine, have to provide some details about what type of transaction you want to do, have to apply your secret pin and in seconds of time you'll get you money what you required but bank also allows some transaction limit in these machines so you have to visit banks if you want a huge amount of transaction but you can easily use your Debit card in ATM machines applied by banks for small or medium kind of transactions. 


Is the Debit card only use for time savings?

Well, the answer is 'NO' because it is not only used for time-saving but also protects the customer from FRAUDS AND SCAMS because in the time where no debit cards are used for transactions people make frauds like they copy the sign of people and make transactions. Debit cards also helps both parties in this matter because the bank only allows money on the debit cards when you apply your secret pin in the ATM machines. It makes our transaction easy and safe.

So, in this article, we learn about Debit cards, How it works, Importance of Debit card, and many other useful and precious information about Debit Card and at a time most of the people have a debit card and that's why it is called the most usable facility of banking.

Sunday, September 15, 2019

Sunday, September 15, 2019

Liability Insurance

Liability Insurance

Hey readers, we talked about liability, types of liability, Life insurance, property insurance, marine insurance now we are going to talk about liability insurance. Is that anyone knows about liability insurance??????


Liability Insurance
Liability Insurance


Let get started………………

Liability insurance/third-party insurance this is a part of the general insurance system of risk financing to protect the purchaser from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.

Individual companies that faced a common peril formed a group and created a self-help fund out of which to Pay compensation should any member incur loss for the company. The modern system relies on dedicated carriers, that usually for-profit to offer protection against specified perils in consideration of a premium.    



    

General Liability Insurance

General liability insurance is an insurance that provides an individual with protection against variety of claims which may include body injuries. physical damage to car, property damage etc. arising from business operations. General liability insurance covers a no. of business and the norms of insurance may vary from company as well as area to area because of policy. Many of the public and product liability risk are covered together under a general liability policy. 

Advantages of Liability Insurance       

A business can protect itself from liability risk by purchasing a commercial liability insurance, which offers the following benefits.

Bodily Injury Liability

This is a protection of your business if injuries are caused to the other person due to your business operation.





Property Damage Liability

It is a protection of business if damages occur to the property of others.

Personal Injury Liability

It is a safeguard you for an offense which may arises like wrongful entry, false arrest, and slander.

Advertising Injury Liability

It covers your legal liability for various offenses which may arises if your company’s marketing division violates someone’s copyright rules.

Contractual & Tenant’s Liability

It safeguards your rented business space against liabilities which may arises if you enter a lease contract.

Lawsuits, Investigations, and Settlements

If damage is filled against you, or you are sued, the insurance policy covers the investigation and attorney expenses, medical expenses in case of injury.



Financial Loss Coverage

A commercial liability insurance policy ensures that you can move forward without incurring unnecessary monetary losses. The policy not only protects you against unexpected losses but also ensures a safe future for your business.

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Sunday, September 15, 2019

Marine insurance : A life saving insurance policy.

Marine insurance: A life saving insurance policy.


Hey readers, In this series of Insurance now we are going to talking about Marine Insurance a type of insurance which is used in the case of import of goods or in export of good also. So,Here we a talking about what is marine insurance ? Where it use ? What are the advantages of marine insurance? What are the disadvantage of marine insurance and about complete information on Marine insurance.
Marine insurance
Marine insurance


So, let's get started.

Suppose you are a business man in Mexico and you want to buy spices from India. Then you contact an Indian seller of spices. The Indian seller make your order ready. You give him a huge order so, they delivered to Mexico in ships. Then the business man of Mexico make marine insurance because if the ship where your order is coming can have to  face accident in their way where the order come. 


Marine insurance
Marine insurance


Marine insurance give security to the buyer that if anything happens with his goods the insurance company are willing to pay the amount of loss. We can say this insurance is the most popular insurance. So, why it is called the most popular insurance policy ?

Well in this whole world people do lost of business or we can say international business they need transportation facilities too so they buy marine insurance again and again when ever they do business.

Now, we understand what is marine insurance and after that we'll understand what is the merits and demerits of marine insurance. 

Merits of Marine Insurance

Here are some merits of marine insurance.


Marine insurance
Marine insurance


1. In marine insurance maintain the start utility of business and work as a protection from undesirable risk of loss.

2. It gives many policies and schemes about the insurance in different budgets. So, a buyer  can select the suitable policy about their work.

3. It gives three different term of policies. The term are Hull insurance,Freight insurance and Cargo insurance.



Demerits of Marine Insurance


1. The charges of these policies are very high. They give protection for goods but charge also well.


2. It protects the ships damage not the goods so if some incident happens with your goods but not have any damage in the ships. The insurance company is not pay anything for damage.


So, These are the some merits and demerits  of Marine insurance and hope you now understand about this type of insurance.

Friday, September 13, 2019

Friday, September 13, 2019

Property Insurance

Property insurance

Hey reader, we already talk about insurance and type of insurance now we are going to talk about property insurance. Do you know what is property insurance????? we already discussed briefly about property insurance do you remember???? If not, we will talk about that in detail don’t be panic let’s get started………...





Property insurance is an insurance that provide protection against the risk of property damage, loss, theft, damage by fire etc. This includes specialized form of insurance such as fire insurance, earthquake insurance, flood insurance, home insurance or boiler insurance. Property is insured in two main ways-open perils and named peril.



Now we are going to talk about open perils, is open peril specially excluded in the policy do you know????? If not, you should know so, answer is no why should answer be no????  because open peril covers all the causes of loss not specially excluded in policy. Common exclusions on open peril policies include damages resulting from earthquake, nuclear incidents, flood, acts of terrorism and war.

Now the turn is for Named perils it is a special peril; would you guess why is it?? Don’t worry I will help you to know about that. Named peril require the actual cause of loss to be provided. The most common peril that include those damage-causing events as fire, explosion, lightning and theft.

  
Advantages of property insurance




Coverage

According to survey published in the journal of financial planning we found that many homeowners have vastly misguided views of what their homeowner’s insurance actually covers.



Liability Coverage


Liability coverage is a liability that is in addition to covering the value of your home or other property, may insurance policy include an important provision for liability coverage.

Don’t guess – know about that You should know about their policy. So, it will help to ensure that what is and what is not cover in insurance policy.



Non Coverage

Business that are home based are not covers. This doesn’t include a home study, but rather a place where people come into your home as customers such as customer 



Reduce risk

It helps in reducing risk of theft damage due to any reason like fire, natural disaster etc. by giving claim to his/her customer.

Now, that should be clear to you about property insurance that how much it is necessary important for us.

Thursday, September 12, 2019

Thursday, September 12, 2019

5 Reasons to get Life Insurance

Hey readers, we are living in a world of scam, disaster and uncertainty where incident or accident can place at any time, any where in our surrounding or can be happened with us also. This can also take place as loss. Losses like money loss, health loss or life also.


Money loss can be recovered but life loss can’t be for these kinds of problems, we have a supplementary solution that’s called insurance. This is a very interesting, liable, important, and necessary part of life.so, we’ll  talk about insurance.



Insurance is a security which is given by an insurance company. It is a protection from financial problems or reduce risk, it is also a form of risk management that also can cover risk. It is provided by several companies that are working on it that company are called Insurance carrier, underwriter or insurance agency. Company also need people who interact with customer who want to take insurance and provide them knowledge about company, policy of company, insurance, scheme and assured them that there is a genuine company. these people are called insurance agent. A person who buys insurance from insurance company are known as an insured or as a policyholder.


Tran-section of insurance which involves the insured assuming a guaranteed and relatively small loss in the form of payment to the insurer which give on exchange for the insurance promise to compensate the insured in the event of a covered loss.




The contract received by an insured are called insurance policy, in which the details about policy that can involves conditions and circumstances under which insurance company will compensate to insured. To able this policy policyholder should have to pay some amount to insurer which is charged by insurer sated that one/forth in the insurance policy it is called premium. If the insured exercises a loss which is potentially covered by insurance policy and already mentioned in policy, insured should have to submitted claim to the insurer after that insurer start processing according to claim by a claims adjuster and first insurer clarify that everything is according to policy or not if everything goes according to policy than insurer will pay to insured claim. 

Scam, disaster and uncertainty are different and all these have different situation and all situation have different insurance and different schemes, so there are several insurances that should you now about let’s get started……………...   





Life insurance or personal insurance

It is an insurance which is insured take for secure his/her family so that after his/her death amount that is promise to pay by insurer should given to his family for financial help.

Property insurance

It provides protection against risk to property, such as some whether disaster, fire, theft etc.

Marine insurance

It provides protection against damage of ships, cargo, terminals.

Fire insurance

It is a property insurance that’s cover losses by fire.

Liability insurance

It provides protection against injured party and damage to people and/or property.

Guarantee insurance

It is a security for the performance of a piece of work.

Social insurance
         
It is a system that contribution is compulsory to enable the provision.