World Insurance companies

[piton]

Knowing the functions and benefits of insurance is important before deciding to use it. Moreover, the understanding of insurance in Indonesia is still low. This can be seen from the amount of public participation in insurance which is still minimal, aka not so many enthusiasts. In fact, insurance in general or specifically has many functions and benefits to provide compensation for long-term protection funds such as asset / asset insurance, life insurance, and health insurance.

Insurance is defined as an agreement made by two or more parties, in which there is mutual bond between the insurer and the insured. The insurer receives insurance premiums from the insured as a form of risk change paid to the insured due to certain events in the future. This particular event is commonly understood as a risk if it results in things we don't want.

Insurance can be seen from a social and financial perspective. From a social point of view, insurance can be defined as a social organization that accepts risk transfer and collects funds from its customers to pay for losses that may occur to the customer or member. In short, insurance protects its customers from these losses which will be borne together. From a financial point of view, insurance is a tool used to reduce economic risk by cooperating with a number of work units / people / companies with the same or nearly the same potential risk so that all parties in the combination can bear these losses. With the funds collected in large numbers, these losses can be divided proportionally.

Primary Functions of Insurance :

1. Taking part in insurance means active in risk transfer
One of the primary functions of insurance, apart from controlling risk, also functions as a risk transfer mechanism so that the possibility of uncertainty (uncertainty) will result in losses due to unexpected events can be ascertained or converted into certainty in the form of compensation. loss or compensation claims from insurance premiums that have been paid.
Transfer of risk does not mean eliminating the possibility of misfortune from the insured / insurance customer. However, the transfer of risk is intended to provide peace of mind to customers against the possibility of adverse events. If you look at the rewards you will get, maybe the value of the premium paid is very little compared to the risks that may occur.

2. Insurance as a Fundraising Facility (Insurance Investment)
Insurance also functions to collect funds from customers or policyholders. The funds collected (from the premiums paid) can be used and developed by insurance companies through more profitable investment channels. Because one of the duties of an insurance company is to raise funds. Therefore, investment is an option that is often taken so that the money collected can be managed productively.
Investment activities carried out by insurance companies can be carried out anywhere. And the results of these investments can also be used as a strategy in reducing premium costs. After all, later these premiums will also be used together to cover risks borne by premium payers or customers.

3. More Insurance Ensures Balanced Premiums
The purpose of the balanced premium function here is that insurance can be relied on as a guarantor for someone's losses by paying clear premiums and the amount can be accounted for. The size of the premium that must be paid also depends on the applicable premium rate after being multiplied by the sum insured.
The premium rate is also known as the rate of premium. In the end, premium payments made by customers or policyholders will be of fair value or equal to the risk transferred to the insurer (the insurer). This condition is known as the equitable premium.

Advantages :
Providing guaranteed protection from risks of loss with a cost equalization system, that is, it is sufficient only to pay a certain amount and does not need to replace / pay for the losses incurred.
The work partner of the bank to provide credit because the bank needs a guarantee of protection for the collateral given by the money borrower.
Can be used as a medium for savings and investment to cover the loss of earning power of a person or business entity when he is no longer productive (working).

Disadvantages:
Lost funds if the premium is not paid
Every insurer has a sunk fund system. So if you stop paying premiums each month, the funds you paid beforehand will automatically expire, and you can't make a claim.
Part of the Premium Funds Become Company Profits
Regarding the previous point, payments that stopped in the middle of the road made the payments you previously made forfeited.
It makes you unable to make claims. As a result, the premium funds that you paid once now belong to the insurance company.

[yuyul]

Insurance provides individuals and companies with protection against major financial losses resulting from damage or loss of property. In exchange for premium payments made, individuals and companies are guaranteed to get compensation or reimbursement in the conditions stated in the insurance policy.

Insurance has become a part of modern society. Life insurance and car insurance are the two most common forms of insurance. Health insurance and workers' compensation are also other common types of insurance. While insurance has become a part of most people's lives, not everyone understands how it works. Insurance is a way to protect personal finances from undue burdens. Insurance is a form of risk management in which risk is transferred to the insurance company in exchange for premium payments.

When buying insurance, a person gets an insurance policy which is a legally binding contract. This policy describes in detail all the rights, responsibilities and obligations of the insured (customer) and the insurance company. When a person suffers a loss that is covered by the policy, he or she can file a claim. A claim is a complete report of what was lost or damaged and its value.

[alkatiri]

Health insurance is a type of insurance coverage that pays for medical, surgical, or related health care costs as stated in the insurance policy. Insurance companies that issue health insurance policies can reimburse the insured for expenses incurred due to illness or injury, or pay medical expenses directly. Companies usually provide insurance packages for their employees as a form of protection guarantee.
Premium payments vary, some are paid by the company, some are deducted from the employer but are often also deducted from the employee's salary. The cost of health insurance premiums is deductible to the payer, and the benefits received are tax free.

[QasimShop]

there are many palms within the global, and in those sure humans do a lot of damage, however without this accident, there is a lot of loss of human beings, companies had been fashioned to satisfy this loss, that are referred to as insurance businesses. insurance groups hit us with something that is part of our car's malaise, taken as an annual or between months, however if our vehicle gets hit by using any street twist of fate or accident and the harm in it in order that business enterprise gives us the money so that we can get our car repaired or repaired and we do not get the auto aside from this rate, if the auto isn't always capable of get it right this is the gain of the coverage employer and it is the agencies everywhere in the international that insure your life and your items.

[markwins]

An element which gives protection is known as a safety net provider, insurance agency, protection transporter or financier. An individual or element who purchases protection is referred to as a safeguarded or as a policyholder. The protection exchange includes the safeguarded accepting an ensured and known generally little misfortune as installment to the back up plan in return for the safety net provider's guarantee to remunerate the safeguarded in case of a secured shortfall. The misfortune might possibly be monetary, yet it must be reducible to money related terms, and for the most part includes something in which the protected has an insurable premium set up by proprietorship, ownership, or prior relationship.

The protected gets an agreement, called the protection strategy, which subtleties the conditions and conditions under which the safety net provider will repay the guaranteed. The measure of cash charged by the safety net provider to the policyholder for the inclusion set out in the protection strategy is known as the premium. In the event that the safeguarded encounters a misfortune which is conceivably secured by the protection strategy, the guaranteed presents a case to the safety net provider for handling by a cases agent. The safety net provider may support its own hazard by taking out reinsurance, whereby another insurance agency consents to convey a portion of the dangers, particularly if the essential back up plan esteems the hazard excessively enormous for it to convey.

[markwins]

An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. A person or entity who buys insurance is known as an insured or as a policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship.

The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured. The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. The insurer may hedge its own risk by taking out reinsurance, whereby another insurance company agrees to carry some of the risks, especially if the primary insurer deems the risk too large for it to carry.

[renukundu]

Protection is a methods for assurance from budgetary misfortune. It is a type of hazard the executives, fundamentally used to support against the danger of an unforeseen or unsure misfortune.

An element which gives protection is known as a safety net provider, insurance agency, protection transporter or financier. An individual or element who purchases protection is referred to as a safeguarded or as a policyholder. The protection exchange includes the safeguarded accepting an ensured and known generally little misfortune as installment to the back up plan in return for the safety net provider's guarantee to remunerate the safeguarded in case of a secured shortfall. The misfortune might possibly be monetary, yet it must be reducible to money related terms, and for the most part includes something in which the protected has an insurable premium set up by proprietorship, ownership, or prior relationship.

The protected gets an agreement, called the protection strategy, which subtleties the conditions and conditions under which the safety net provider will repay the guaranteed. The measure of cash charged by the safety net provider to the policyholder for the inclusion set out in the protection strategy is known as the premium. In the event that the safeguarded encounters a misfortune which is conceivably secured by the protection strategy, the guaranteed presents a case to the safety net provider for handling by a cases agent. The safety net provider may support its own hazard by taking out reinsurance, whereby another insurance agency consents to convey a portion of the dangers, particularly if the essential back up plan esteems the hazard excessively enormous for it to convey.

[jellybelly2017]

yeh insurance mujhe apni company se mili hai. bohat kam waqt ke liye bhi daawa ke tsfie ke l- process amal mein takheer aur takheer. agarchay hum mashhoor aspatalon se haqeeqi bil jama kerwatay hain, phir bhi woh ghair zurori izafi dastawizaat talabb karte hain. mein new India ki yaqeen dehani ki sifarish nahi karta hon chunkay mein ney aik soft veer professional ke tor par taweel arsay se kaam kya hai, is liye mujhe apni company se yeh sahet insurance mil gaya hai mulazmeen ki baat to yeh bohat hi susti hai, lekin aap ke walidain ke aap ko kuch raqam kharch karne ki zaroorat hai. taham hamein

[yuyul]

A trick for the insurance industry to benefit is by offering group premiums in large quantities and cheaper premiums, compared to purchasing insurance individually. Usually this kind of practice is offered to various companies with hundreds of employees. So companies can get cheaper premiums for their workers, but hope to get great benefits.
Group premiums can also be long-term buyers, so insurance companies can get a definite profit for several years. One of the premium group insurance is FWD insurance for employees and employee health insurance. Insurance companies can get large profits many times over with float insurance schemes. But claims that were promised to customers were not added. This means that customers get bit benefit from the premiums .

[hellboy2221]

there are many palms within the global, and in those sure humans do a lot of damage, however without this accident, there is a lot of loss of human beings, companies had been fashioned to satisfy this loss, that are referred to as insurance businesses. insurance groups hit us with something that is part of our car's malaise, taken as an annual or between months, however if our vehicle gets hit by using any street twist of fate or accident and the harm in it in order that business enterprise gives us the money so that we can get our car repaired or repaired and we do not get the auto aside from this rate, if the auto isn't always capable of get it right this is the gain of the coverage employer and it is the agencies everywhere in the international that insure your life and your items.

[Qasim14]

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