Insurance is a term used to describe the financial security or practice of purchasing a system or business in which property security of property and other death will be compensated. Loss damage or illness and recurring payment incentives involve a specified period of time such as a repayment plan that provides such protection.
Law No. 2 of 1992 defines the insurance business of an insurance agreement between two or more parties in which the insurer expects the insured to receive remuneration and cover losses. Hope to gain or lose. Or due to the uncertainty of events or the provision of benefits during life and death it will be considered a third party debt. Institutions exposed to this risk are called health.
The risk of later transferring the property is with the seller.
An agreement between two organizations called a legal contract explains personal security terms and conditions. The amount the insurer pays for any risk that is taken here in the future is called the premium and the amount is usually determined by the insurer based on the claimed fund management fee and the future investment of profits.
Another definition of insurance coverage in Chapter 246 of the Commercial Code (KUHD) states: Insurance or insurance coverage is an agreement by which an insurer agrees to combine an insurance incentive with a satisfactory crime. When you can lose weight or lose weight. The expected profit resulting from the event.
In the world of insurance there are six basic principles that must be met.
Insured Interest: The right to insurance proceeds from a legitimately recognized financial relationship between the insured and the insured. Good faith: corrections and actions to be corrected. Full exposure to all physical property insurance policies whether requested or not. This means that the insurer must respectfully comment on all applicable terms and conditions of your insurance plan.
Health will also be able to provide clear and accurate information about satisfactory goods or services. Proximity Cause: An active and efficient cause that produces a series of events with its own effect with or without intervention.
Active from new independent sources. Compensation: The procedure to pay a monetary compensation to the insurer before the loss occurred as an insurer in a financial situation (KUHD Article 252 253 notes art. 278) company. Contribution: The right of an insurance company to invite other insurance companies to share the same. However insurance companies do not accept the same responsibility. To offer an apology.
Here are the reasons why you need an insurance policy:
Insurance guarantees protection and gives you a sense of comfort from future risks. Getting insurance will also give you peace of mind in your daily life. This is because in the event of an accident or serious illness at any time your family should not be confused about the cost of treatment as it is borne by the insurance company.
Risk of security and transfer by paying insurance premium within the stipulated time. This premium payment is definitely for the insurance company which will compensate you or your family in case of any mishap. Insurance can be used as an investment tool where you can save a certain amount by paying insurance premium.
The insurance you have is the type of unit-related insurance that does not necessarily add value each year. Insurance can be used to plan for the future. With insurance you can cover the cost of your childs education or use it to provide future retirement funds.