Life Insurance jobs in atlanta ga

A Beginner's Guide to Insurance coverage

Having the right kind of insurance is central to sound financial planning. Several of us may have some form of insurance policy but very few really understand what it is or why one must have it. For the majority of Indians insurance coverage is a form of investment or a superb tax saving avenue. Inquire a typical person about his/her investments and they will proudly mention an insurance product as part of their core investments. Of the approximately 5% of Indians that are covered by insurance the proportion of those adequately insured is significantly lower. Very few of the insured view insurance as purely that. There is perhaps no other financial product that has observed such rampant mis. Promoting at the hands of agents who are over enthusiastic in selling products backlinking insurance to investment generating them fat commissions. Life Insurance jobs in atlanta ga

Exactly what is Insurance?

Insurance is a way of spreading out significant financial risk of a person or business entity. To a sizable group of individuals or business entities in the occurrence of an unfortunate event that is predefined. The cost of being insured is the month to month or gross annual compensation paid to the insurance company. Within the purest form of insurance if the predefined event does not take place until the period particular the cash paid as compensation is not retrieved. Insurance coverage is effectively a means of spreading risk among a pool of folks who are insured and lighten their financial burden in the event of a shock.

Types of Insurance

Potentially any risk which can be quantified in conditions involving can be insured. To safeguard loved ones from damage of income due to immature death one can have a life insurance coverage policy. To safeguard yourself and your family against unforeseen medical expenses you can opt for a Mediclaim policy. To guard your vehicle against robbery or damage in accidents you can have a motor insurance policy. To safeguard your home against robbery, damage due to open fire, flood and other challenges you can find dating a home insurance.

Most popular insurance kinds in India are life insurance, health insurance and motor insurance. Apart from these there are other forms as well which are discussed in short in the following paragraphs. The insurance sector is regulated and monitored by IRDA (Insurance Regulatory and Development Authority).

Insurance coverage

This specific form of insurance provides cover against financial chance in the event of premature death of the insured. There are 24 life insurance companies enjoying in this arena of which Life insurance coverage Corporation of India is a general public sector company. There are several kinds of life insurance policies the simplest form of which is phrase plan. The other intricate policies are endowment plan, whole life plan, money back plan, ULIPs and annuities.

General Insurance

Almost all other insurance policies besides Life Insurance fall under General Insurance. There are 24 general insurance companies in India of which 4 namely National Insurance Company Ltd. New India Confidence Company Ltd, Oriental Insurance Company Ltd and Usa India Insurance Company Ltd are in the public sector domain.

The biggest curry of non-life insurance in conditions of premiums underwritten is shared by engine insurance followed by engineering insurance and health insurance. Other varieties of insurance made available from companies in India are home insurance, travel cover, personal accident insurance, and business insurance.