O Introduction O Advantages of Insurance O Types of Insurance o Life Insurance o Whole Life Insurance o Endowment Policy o Term Insurance o Life

Annuity Plan o Medical And Health o General Insurance o Motor Insurance o Fire, Householders Insurance o Personal Accident Insurance o Travel Insurance o Insurance for Poor People.

What is Insurance?
Insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment.
Insurance Term: O Insurer O Insured O Premium

Advantages of Insurance
O O O O O O O O O O O O O O O Removal of uncertainties Stimulant of business enterprise Promotion of saving Correct distribution of cost Source of credit Reduction of the chances of loss Solution of social problems Productive utilization of fund Insurance as an investment Promotion of international trade Removing fear Growth of Business competition Employment opportunity Miscellaneous benefits Favourable allocation of factors of production

Types of Insurance
Endowment Policy Life Insurance Whole Life Insurance Term Insurance Life Annuity Plan

Insurance

Medical And Health Motor Insurance Fire, Householders Insurance

General Insurance

Personal Accident Insurance Travel Insurance

Types of Insurance
Any risk that can be quantified can potentially be insured.

Life Insurance General Insurance

A protection against the loss of income that would result if the insured passed away. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.

Types of Insurance
Any risk that can be quantified can potentially be insured.

Life Insurance General Insurance

Insurance relating to various potential losses such as theft or damage, but excluding life insurance.

Life Insurance

O O O O O

Whole Life Insurance Endowment Policy Term Insurance Life Annuity Plan Medical And Health

Whole Life Insurance

O For Whole life O Series of premium paid O Types
o o o o o o o Participating Non Participating Economic Limited Pay Single Premium Interest sensitive Indeterminate premium

Endowment Policy
O Pay a Lump sum amount O Expires on maturity or on death O Maturity Age O Pays on critical illness O Can be cashed by surrendering

Term Insurance

O Provides coverage at a fixed rate of payments O After that period expires, coverage at the previous rate of premiums is no longer guaranteed O Death of the insured

Life Annuity Plan

O Seller - series of future payment to the buyer IN EXCHANGE FOR O Buyer immediate payment or series of payment

Medical And Health Insurance

O Against the risk of medical expenses. O Estimating the risk of health, the insurer will decide the finance structure. O Benefit is administered by central government.

General Insurance

O Motor Insurance O Fire, Householders Insurance O Personal Accident Insurance O Travel Insurance

Motor Insurance

O Purchased for vehicles. O Provide financial protection against physical damage. O Insurance vary with legal regulation in each region. O Also provide protection against theft.

Fire, Householders Insurance

O Covers the financial loss which will be incurring in future. O Specifies the maximum amount which the insured can claim in case of loss. O Types of fire insurance policy: o Specific policy o Comprehensive policy o Valued policy o Floating Policy o Replacement Policy

Personal Accident Insurance

O Offers compensation in case of bodily injuries resulting from an accident. O Includes coverage against terrorism. O Usually covers: o Accidental Death o Disability o Accidental Dismemberment

Travel Insurance

O Cover medical expenses, Default of travel suppliers and losses incurred. O Temporary travel insurance O Multi trip insurance O To avoid high risk.

Insurance for poor people

O The Indian government has promised health insurance and has allotted over Rs 2,800 crore for the programme till now. O Rashtriya Swasthya Bima Yojana (RSBY) was launched in October 2007 by the Indian Ministry of Labour and Employment
O Objective of RSBY is to provide protection to BPL households from financial liabilities arising out of health shocks involving hospitalisation.

Insurance for poor people

Source: RSBY
States
No. of selected districts Bihar West Bengal Uttar Pradesh Orissa Maharashtra Gujarat Kerala Karnataka Chhattisgarh Jharkhand 38 19 72 30 32 26 14 30 18 24

Districts Completed enrollment

Enrollment in progress

Enrollments Total BPL BPL families families (in enrolled till million) date (in million)
15.01 7.65 10.83 5.29 4.44 3.64 2.61 3.67 2.48 2.94 7.40 4.54 4.03 3.23 2.08 1.81 1.75 1.68 1.67 1.38

30 12 66 9 23 26 14 18 20

8 6 5 21 9 30 4

Webliography
O Licindia.in O Wikipedia.org O hdfcergo.com O Investopedia.com O Getinsurancehelp.net O Financeglobetoday.info O Studypoints.blogspot.com O knowledge.policybazaar.com O Insurance-riskcover.blogspot.com O www.apollomunichinsurance.com

Presented By:

O Rajdeep Nirankari