Principles of Insurance forms the backbone of the entire sectors. Enumerate with examples any three such principles.
Insurance & Risk Management
1. “An Insurance policy acts as a safeguard mechanism for an individual or organisation to reduce the effect of loss caused by various risk”. Describe the prerequisites or steps you would take for buying an insurance policy.
2. Principles of Insurance forms the backbone of the entire sectors. Enumerate with examples any three such principles.
3. Jatin has recently started working with a renowned MNC after passing out of a premier BSchool. A senior colleague has suggested him to take a life insurance policy. However, Jatin is not convinced with the idea of taking a life insurance policy and is unaware of the various life insurance products which are available in the market. As a friend of Jatin You need to make Jatin understand the following:
a. Explain the concept of life insurance to Mr. Jatin and highlight the importance of a having life insurance policy.
b. Help Jatin in explaining the various types of life insurance policies which are available in the market.
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