This document provides an overview of insurance policies, including the key principles of risk and pooling of risks. It discusses the meaning and legal principles of insurance policies. The main types of insurance policies covered are life insurance and general insurance, which includes fire, marine, health and motor insurance. Statistics are also presented on major life insurance companies in India and updates on the life and general insurance markets, including distribution and new products.

2. Contents:
• Introduction to INSURANCE POLICIES:
 Primary factor of risk and uncertainty.
 Primary principle of pooling of risks.
 Meaning Of An Insurance Policy.
 Legal Principles To An Insurance Policy.
• Types of INSURANCE POLICIES:
 Life Insurance.
 General Insurance (fire, marine, health, motor)
• Statistics for INSURANCE POLICIES:
 Life Insurance.(industry stats, market updates, distribution, products )
 General Insurance (industry stats, market updates, distribution, products )

4. Risk and uncertainty are incidental to life. Man may meet
untimely death.
Whenever there is uncertainty, there is risk as well as
insecurity.
 It is to provide against risk and
insecurity that insurance came into being.

5. The main principle
underlying insurance
is the pooling of risks .

6. Insurance policy:
An insurance policy is:
A contract by which a person,
in consideration of a sum of money , undertakes
to make good the loss of another against
a specific risk, e.g., fire, or to
compensate him or his
estate on happening of a
specified event, e.g.,
accident or death.

7. Parties to the policy:
The person undertakes the risk is called
the insurer , assuror or underwriter.
The person whose loss is to be made
good is called the insured or assured

8. The requirement of an insurable interest is what
distinguishes insurance from gambling.

10. 1.Life insurance:
Life insurance is a route for providing financial
support for your family even after your demise.
Mode of a sound and structured financial planning.
Helps you do your savings in order
to achieve your long term goals.
There are many types of Life insurance Policies or Plans.
The main idea or motive of a Life insurance service:
is to provide maximum benefits for the policy holders
family/sub-ordinates after his/her death.

11. 2.General insurance:
Definition: Insurance contracts that do not come
under the ambit of life insurance are called general
insurance. The different forms of general insurance
are fire, marine, motor, accident and other
miscellaneous non-life insurance.
Description: The tangible assets are susceptible to
damages and a need to protect the economic value of
the assets is needed. For this purpose, general
insurance products are bought as they provide
protection against unforeseeable contingencies like
damage and loss of the asset. Like life insurance,
general insurance products come at a price in the form
of premium.

12. Motor Insurance
Fire Insurance
Health Insurance
Marine Insurance

13. a. motor insurance
This is an insurance policy designed for vehicles/automotives.
The auto insurance policy offers a safety
coverage for every insured vehicle that has
underwent some damage.
Though any vehicle is insured does not mean it will
receive compensation very easily.
The investigator investigates into the matter and checks the details very
minutely

14. b. fire insurance
Fire insurance Fire insurance is a insurance that cover
property, such as home shop or other fixed asset
protection against fire, burn Etc..
It also cover distraction
of property due to fire

15. c. Health insurance
A health insurance is also referred as Medical insurance.
Though the medical or health insurance plan
is taken by single person, it can be useful for
all the concerned members of his or her family.

16. d. Marine insurance
Marine insurance Marine insurance and marine cargo
insurance cover the loss or damage of vessels at sea or on inland
waterways, and of cargo in transit, regardless of the method of
transit.
When the owner of the cargo and the carrier are separate
corporations, marine cargo insurance typically
compensates the owner of cargo for losses
sustained from fire, shipwrecked.,
but excludes losses that can be recovered
from the carrier or the carriers insurance.

17. Bajaj Allianz Life Insurance Company
Birla Sunlife Insurance Company Ltd
HDFC Standard Life Insurance co.Ltd
ICICI Prudential Life Insurance LTD.
Life Insurance Corporation Of India

18. Industrial Statistics

19. Market updates, Distribution & Products
• Market Updates:
 Potential new entrants
 Mergers And Acquisitions.
 Company news and financial results.
• Distribution & Products:
 Including the nationwide distribution of all life insurances
 Some Of the recent product launches in the indian market.

20. Industrial Statistics

21. Market updates, Distribution & Products
• Market Updates:
 Insurers
 Other market developments.
• Distribution & Products:
 Including the nationwide distribution of all life insurances
 Some Of the recent product launches in thee Indian market.

22. The contents in the above presentation have been
extracted from the websites mentioned below