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Hdfc Standard Life Project

Hdfc Standard Life Project

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Published by manishchandra26

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Published by: manishchandra26 on Jul 02, 2010
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07/22/2013

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 Manish Chandra
(( A  A 88775522553333))
 
1
 
CH
 APTER - 11.1
 
G
ENERAL INTRODU
C
TION
Insurance is a protection against financial loss arising on the happening of anunexpected event. You cannot take anything for granted in life. Insurance is system by  which the losses suffered by a few are spread over many, exposed to similar risks.Insurance policies are a safeguard against the uncertainties of life. Insurance policy helps in not only mitigating risks but also provides a financial cushion against adversefinancial burdens suffered. Insurance policies cover the risk of life as well as other assetsand valuables such as home, automobiles, jewelry etc. Insurance policies can beclassified into two categories. Which are given below: -
/LIH,QVXUDQFH3ROLF\*HQHUDO,QVXUDQFH3ROLF\ 
Life insurance is a guarantee that your family will receive financial support, even in yourabsence. It thus protects to your family from the financial crises. It serves as a protectivecover to your family, life insurance acts as flexible money-saving scheme, whichempowers you to accumulate wealth-to buy a new car, get your children marriage andeven retire comfortably. Life insurance also triples up as an ideal tax-saving scheme.
Need of Life Insurance
In modern day investments include gold, property, fixed income instruments, mutualfunds and of course, life insurance. Given the excess of choices, it becomes very important to make the right choice when investing your hard-earned money. Lifeinsurance is a unique investment that helps you to meet your dual needs - saving forlife's important goals, and protecting your assets.
Some unique benefits of life insurance in detail:-
 
 Manish Chandra
(( A  A 88775522553333))
 
2
 
 Asset Protection
F
rom an investor's point of view, an investment can play two roles -
 Asset Appreciation
 and
 Asset Protection
. Most of the financial instruments have the underlying benefit of asset appreciation. Life insurance is unique in that it gives the customer the reassuranceof asset protection, along with a strong element of asset appreciation.
Life insurance
or
Life Assurance
is a contract between the policy owner and theinsurer, where the insurer agrees to pay a sum of money upon the occurrence of theinsured individual's or individuals' death. In return, the policy owner (or policy payer)agrees to pay a stipulated amount called a premium at regular intervals or in lump sums(so-called "paid up" insurance). There may be designs in some countries where: (Assets,Bills, and death expenses plus catering for after funeral expenses should be included inPolicy Premium. Anyone whose assets equal more than the value of their primary residence should not be compensated beyond that value in case they cannot sell theirhouse. In the case of those who have lost their spouse should be compensated also forone full year the wages of their spouse which would or should be included to avoidlawsuits.) However in the United States, the predominant form simply specifies a lumpsum to be paid on the insured's demise. As with most
 insurance
policies, life insurance is a contract between the
insurer
and the
 policy owner (policyholder)
whereby a benefit is paid to the designated Beneficiary (orBeneficiaries) if an
insured event 
occurs which is
covered 
by the policy. To be a lifepolicy the
insured event 
must be based upon life (or lives) of the people named in thepolicy.
 Insured events that may be covered include:
 
 Manish Chandra
(( A  A 88775522553333))
 
3
 
1
.
 
D
eath2.
 
 Accidental death3.
 
SicknessLife policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit theliability of the insurer; for example claims relating to suicide (after 2 years suicide has to be paid in full) (in India after one year Suicide is covered), fraud, war, riot and civilcommotion.
1.2
 
OBJE
C
TIVES OF T
H
E STUDY 

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dharshutr6_840711167 added this note
please send me this project, this id dharshutr6@gmail.com
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