1 / 6

Some Details about General Insurance

General insurance basically comprises of any insurance that is not determined to be life insurance. Check out this presentation to know more about general insurance.

meenarai
Download Presentation

Some Details about General Insurance

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Some Details about General Insurance

  2. A general insurance can be simply be defined as a method of sharing financial losses of few from a common fund who are equally exposed to the same loss. • It is the equitable transfer of the risk of losses form one entity to another, in exchange for a premium, and can be taken as a guaranteed small loss which can be used to prevent a large devastating loss.

  3. Characteristics of Insurance • Pooling of Losses – Spreading of losses which are incurred by a few over the entire group. • Risk Transfer – A pure risk is transferred from the insured to the insurer, who is in a typically stronger financial position • Indemnification – The insured is restored to his approximate financial position prior to the occurrence of the losses

  4. Types of General Insurance • Motor Insurance - Motor insurances includes insurance policies like car insurance and two wheeler insurance, covers all damages and liability to the vehicle. • Health Insurance - Ill health can result in a major halt in your life and work. Moreover, the escalating price of health care costs means that you would be shelling out a massive amount of money to bear the brunt of these costs. • Travel Insurance - Despite all your planning, a trip abroad can go wrong due to medical eventualities, and non-medical contingencies such as loss of baggage, trip delay and other incidental expenses.

  5. Why have General Insurance? • Assures safety & security - In a situation of filing an insurance claim, the insured looks forward to a reimbursement or payment of a lump-sum amount to recover the financial loss due to any uncertainty. • Offers Peace of mind - The assurance that at the time of uncertainty you have someone to take care of your financial needs I itself leads to peace of mind.  • Purges dependency - If you are insured under the right plan, then in the hour of need, you may not have to wander around looking for help from someone; either you would have to break your hard-earned savings to overcome the problem.

  6. THANK YOU

More Related