Types of insurance

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  • Two Types Of Insurance Essay

    Personal lines and commercial lines are the two major categories of insurance coverage. Personal lines cover individuals and families while commercial lines protect business firms, nonprofit organizations and government agencies. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another in exchange for a payment. Any risk that can be quantified can potentially be insured. Life insurance, health insurance and property and casualty insurance are several types of insurance that are available today. An insurer, or insurance carrier, is a company selling the insurance. It can be classified according to its organizational form such as stock insurers, mutual insurers, reciprocal of exchanges and Lloyd’s of London. A stock insurer is an incorporated insurer with its capital divided into shares and owned by its shareholders. Its objective is to maximize stockholders ' profit by leveraging the value of stock. Mutual insurers on the other hand, are corporation owned by the policyholders who elect board of directors and appoint executive officers to manage the company. The board of directors of this corporation…

    Words: 1304 - Pages: 5
  • Driving Demerit Point System

    Escalating Sanctions scheme will also be given. Drivers caught driving with alcohol for the first time will have their licence suspended for 30 days. For driver’s second occurrence, in a five-year period, they will be suspended for 90 days. For driver’s third occurrence, in a five-year period, the novice portion of your driver’s licence will be cancelled. 4. There are many types of insurance in Ontario. In Ontario, there are some insurance that are mandatory and others are optional. a) Vehicle…

    Words: 1314 - Pages: 6
  • Essay On Buying A Home

    When is the right time to purchase a home? Buying a home is a huge financial decision and moment in your life. It’s the “American Dream” to own a home with a white picket fence but it can also become an American nightmare if you are not prepared. There are three major expenses that go in to buying and maintaining a home. Your on-going costs, closing cost and down payment. Your on-going costs are the the monthly mortgage payments along with the taxes, insurance and maintenance cost of the home.…

    Words: 817 - Pages: 4
  • Required Coverage

    As a first-time driver, figuring out what type of car insurance is required and what type is optional can feel a little overwhelming. Here is a quick breakdown of the difference between required and optional coverage that will help you determine what type of car insurance you really need. Required Coverage Each state has their own laws reguarding required coverage. In generally, most states require you to carry a minimum amount of car insurance. The minimum in your state is what your…

    Words: 438 - Pages: 2
  • The Importance Of Whole Life Insurance

    like superheroes, insurance companies can protect you from loss by covering your assets. Insurance carriers around the world provide service to policyholders, guaranteeing coverage to both businesses and homeowners. In order for a company or family to be insured there must be a viable risk in order to provide service. These elements incorporate a large number of insureds, no counterfeits, accidental loss, financial burden, affordable and calculable insurance, no catastrophes, and pure risk only…

    Words: 1122 - Pages: 5
  • Short Term Financial Goals

    procedures and having a clear understanding on the coverage of different insurances enhance your choices. Making changes where necessary helps build financial funding toward a secure retirement. The importance of a short term financial investment is to secure a financial future for…

    Words: 1030 - Pages: 5
  • Persuasive Essay On Low Driver Insurance

    Get the Lower Driver Insurance Price Only in This Website You may think that all of Insurance Companies will take a high premium for young drivers. It is not for all Insurance Companies. In cheapestnewdriverinsurance, you can fill the online form in fast, and get the quote in seconds. What do you need to concern in filling the online form of the driver insurance? Your identity is the most important part, and the next one is your car type and more compliments about your car. The car type included…

    Words: 515 - Pages: 3
  • Whole Life Insurance Case Study

    2.0 Whole Life Insurance in Malaysia Whole life insurance is a type of insurance that provide coverage for the policyholder for entire life. It is also known as ordinary life insurance. On the other view, it can be defined as a cash value that provides lifetime protection. (Rejda & McNamara, 2014). In this contract, upon the death of the policyholder, a stated amount will be paid to the beneficiary. There are several types of whole life insurance that are as follow:- 2.1.1 6 Whole life Insurance…

    Words: 1233 - Pages: 5
  • Essay On Vehicle Insurance

    Do you need insurance for a vehicle, but only need it for one day? Most policies for auto insurance will offer coverage for six months to a year. However, you may find that one day insurance will be a perfect option for your needs. You may want to review some of the basics and then decide if one day insurance is something you will need. The Nitty Gritty A one day insurance policy for a car is a form of short-term insurance. This means coverage is available only for a short amount of time. Do…

    Words: 915 - Pages: 4
  • Home Insurance Case Study

    to prepare before buying insurance for your business. It really isn 't hard to be ready for this important decision, if you take simple steps, like assessing the risks you face for your particular business, working with a reputable agent who knows your industry, and making sure you get enough coverage. Your insurance should be affordable and cover a risk your business can 't afford. One comparison would be a homeowner buys insurance to protect his home from fire, because he couldn 't afford to…

    Words: 728 - Pages: 3
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