Insurance For Beginners

Insurance For BeginnersInsurance For Beginners

Insurance For Beginners. Welcome to guide global companies. In this context, the insurance industry, the general definition of insurance, an adequate explanation and accurate definition, a brief presentation on the history, the insurer, the insured, the insurance categories, the role of industry is discussed and how an individual can take maximum advantage when you get yourself, your car, your home, even if your company offers. We hope you enjoy this article and you will be satisfied the essence of your search for the previous topic.

Insurance is a financial institution classified as a non-banking financial institution. These are important financial newspapers inter-mi. It is supposed to have originated in the ancient practices of the inhabitants of the valleys of the Tigris and Euphrates rivers in present day Iraq 4.000BC around. According to history, in 1800, the Code of Hammurabi of Babylon contained provisions that had elements of insurance in the laws governing their trade. But today, what we have in the industry, both locally and internationally, it has grown from a simple agreement between two people for a very large industry worldwide.

By definition, we learn that insurance means a situation in which a person is protected against the risk and reduces the effects of uncertainties and distribution losses. Another explanation for this is due to the situation in which a certain amount of money, when viewed from a person by an insurance company agrees to pay compensation or to provide services to that person if you have the type of loss specified in the insurance contract; And the explanation, this is where an insurance company comes in because these are the people who will enter into an agreement with the person taking out an insurance policy against one of its assets. This industry has been widely seen as a means by which people reduce the risk of unforeseen circumstances. As financial intermediaries, acting as intermediaries between surplus units and deficit units in the economy, supporting the overall growth of the economy.

One wonders, how insurance companies make money used to compensate the policyholder when hit by an accident? The answer to this question leads us to talk about the different ways that insurance companies make their money and how they are compensated for their policyholders. The truth is that the money they collect from your policy (ie an agreement with the insurance company) is invested in bonds (extra money paid in addition to the normal cost of something. And that money is invested in bonds, stocks, mortgages (ie the house) and government securities (in our next article, we explain in more detail: bonds, stocks, mortgages and government securities) generate income for themselves and for those who serve them, who invest money owner the best business that has the most short-term investment .. and therefore meet their needs when necessary many claims and losses. These funds are invested themselves, which not only generate interest to add to the funds, but also benefit from the government, governments and industries whose values are reversed due to the investment policy the insurer will explain later), its reserve funds are not left under vacuum cap used productively.

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