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Insurance

Insurance is and a way to protect you and your family from financial loss if the unexpected happens to the and things you own, your health or your ability to work.
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INSURANCE TYPES

  Types of insurance   There are many different types of insurance. Here are some of the better known types and an explanation of what they cover:   Life insurance Term life insurance is
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Buying insurance

Buying insurance Follow these tips to get the right insurance for your needs and budget. ■ Select right surplus If you have a high surplus, the premium will
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HOW INSURANCE WORKS

HOW INSURANCE WORKS Insurance is an agreement where for certain payment of premium, is called a party ( the insurer) agrees to pay to the other (the policyholder
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CHARACTERISTICS OF INSURANCE

CHARACTERISTICS OF INSURABLE We have stated previously that people see buying insurance as an economic profitably. The insurer would agree to the agreement, if the risks that can
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EXAMPLES OF INSURANCE

EXAMPLES OF INSURANCE Some readers of this note may have already used the insurance to reduce the economic risk. In many places to legally drive a car, you must have liability insurance that will pay benefits to a person that can hurt or damage from a car accident.   You can
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BENEFIT LIMITS

BENEFIT LIMITS Benefit limit sets a limit on how much the insurer will pay for any loss. The reasons for the putting a limit on benefits include the following: (1 limit prevents total payments exceed the insurer’s making pictures of the financial capacity. (2) in the context of risk, an upper
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LIMITATIONS OF BENEFITS POLICY

LIMITATIONS OF BENEFITS POLICY In all types of insurance can have limits on benefits or claim payments. In particular, the There may be a maximum limit on the total recovered; There may be a minimum limit of losses It will be restored; only a certain percentage of each
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About Insurance

What about insurance coverage if I study abroad? If you participate in an international study program through the University of Wisconsin System or the Wisconsin Association of Independent
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THE ROLE OF THE ACTUARY

THE ROLE OF THE ACTUARY  This study note has outlined some of the fundamentals of insurance. Now the question is: what is the role of the actuary? At
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