In an insurance industry‚ the insurance agent possesses multi-faceted roles to play as enlisted below: The insurance agent helps in promoting and selling of insurance products and services to its customers. Giving sound financial advisory services and customer support to the clients Needs to deal with not only individuals but their families and corporate businesses too. Needs to have good relationship including good rapport with his/her existing and prospective clients General awareness about
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The Insurance Industry in Armenia‚ Key Trends and Opportunities to 2018 Published on 28TH MAR. 2014 The report provides in-depth industry analysis‚ information and insights of the insurance industry in Armenia‚ including: The Armenian insurance industry’s growth prospects by insurance segments and categories The competitive landscape in the Armenian insurance industry The current trends and drivers of the Armenian insurance industry Challenges facing the Armenian insurance industry Detailed
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For 43 long years the government-owned Life Insurance Corporation of India (LIC) held a monopoly. It is only at the dawn of the twenty-first century that the sector was finally deregulated. Reforms were initiated with the passage of the Insurance Regulatory and Development Authority Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has regulated the opening up of the insurance sector‚ which has seen in total 23 life and 24 non-life private companies
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scope of the policy. 5. Any risk which has not been provided for in the Tariff shall be referred to the Committee for Rating. Provisional rate of Rs. 2.50%0 shall be charged. 6. Valued policies are not issued in Fire‚ however it can be issued in the case of Curious‚ Works of Art‚ Manuscripts‚ Obsolete Machinery and the like subject to the valuation certificate being submitted and found acceptable by the insurer. 7. Minimum premium per policy is Rs.100-00 except for risks rateable under Sec.III. 8
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Healthcare Insurance Nowadays‚ healthcare issues become a big attention to the people in the world. People always want to be healthy‚ while in the meantime‚ the risk to be suffered by the diseases are high. By this‚ illness can come anytime and anywhere. To anticipate this‚ some people rely on healthcare insurance. Although healthcare insurance has some benefits‚ it has disadvantage in some conditions. However‚ people have to have some consideration before they apply the healthcare insurance. Most
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1926 We also offer Insurance through Vurich-American We have more benefits and fewer restrictions than AAA We provide 7 tows while AAA provide 4 tows We have 5 different security plans: 1. 9.95 = $40 commission 2. 14.95 = $60 commission 3. 19.95 = $80 commission = $25‚000 life insurance 4. 29.99 = $80 commission = $50‚000 life insurance 5. 39.99 = $80 commission = $75‚000 life insurance [The difference of these prices is the amount for the life insurance you will receive
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settlement • Reinsurance • Investments Copyright © 2011 Pearson Prentice Hall. All rights reserved. 6-1 Rating and Ratemaking • Ratemaking refers to the pricing of insurance and the calculation of insurance premiums – A rate is the price per unit of insurance – An exposure unit is the unit of measurement used in insurance pricing premium = rate * exposure units – Total premiums charged must be adequate for paying all claims and expenses during the policy period – Rates and premiums
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young children. You want to get life insurance to protect your children financially until they are old enough to produce their own incomes. Would term life insurance or permanent life insurance be a better choice in this situation? Why? (2-4 sentences. 1.0 points) 4. Describe two types of insurance that you have or are likely to have at some point in your life. What risks are these insurance plans protecting you against? Why do you think these types of insurance are important? (4-8 sentences. 3.0
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marks) “At the heart of every insurance transaction is a requirement that both parties exercise utmost good faith towards each other….The principle is…sometimes expressed by saying that insurance contracts are contracts uberrimae fidae.” (Petony‚ Graw‚ Lennard and Parker‚ Understanding Business Law‚ 5th ed‚ Lexis Nexis‚ 2011‚ p702) Required: a. Explain what is meant by “utmost good faith” and why it is of particular importance in the context of insurance contracts. (10 marks) b. How is
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- Cheapest Insurance Quotes - 5 Tips When you at long last purchase the car you were planning to get‚ the energy can be tangible. Simply realizing that you now be able to journey around town in your new arrangement of wheels can be exceptionally energizing. That is the reason it is dependably somewhat of a frustration in the wake of purchasing a car to need to consider purchasing car insurance. You are without a doubt going to need to purchase the cheapest-conceivable car insurance - but then you
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