Abstract
The world "Fear" has only four alphabets like love but both of them are having very different meaning. Whatever man (male or female) does for the love of their families always starts with the background of fear. Generally so many times we have been asking ourselves that, what will happen if we were not there, but we keep on asking rather than doing something for it. Time is precious, it never stops for any one and we are living in the world of uncertainty; the uncertainty of job, the uncertainty of money, the uncertainty of property and like this the story continue for the whole life of a man. How you can save your hard earned money? Or shall I say where you can invest? The answer to these questions is Banks, Post Offices, Equity, Mutual Funds, Capital Goods and Insurance. Except insurance all the investment alternatives involves risk and the only rule that prevails is high risk high profit, if the economic circumstance is not favoring our investment we will loose our hard earned money, further more all these investment plans are for the short period, on the other hand Insurance has a long term perspective. As investment, it not only covers the risk of your life, rather it also secures the future of your loved ones. The idea is to derive two basic investment need from insurance; one is the investment that means the returns on his money. The other aspect of investment is assurance from the investment that this is the amount you will be getting. In view of these insights, insurance emerges as the combination of both Investment and assurance.
Highlights
The business of insurance is related to the protection of the economic values of assets
Life Insurance policies offer tax benefits though tax saving should not be the primary reason an individual should look at a Life Insurance policy
Some types of life insurance policies that last for the entire life of the insured are called permanent insurance
Summary
The business of insurance is related to the protection of the economic values of assets. If the asset gets lost earlier, being destroyed or made non-functional, through an accident or other unfortunate event, the owner and those deriving benefits from it suffer. Because they are likely to be destroyed or made non-functional through an accidental occurrence. Such possible occurrences are called perils: fire, floods, break downs, lightening, earthquakes etc. Life insurance is insurance against the loss of the income earning capacity of the person. Accident and Sickness (Critical illness only) can affect the income earning capacity of an individual. Life insurance offers protection for the loss of income earning capacity due to death, accident and sickness
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
