Insurance Terminology In Hindi Pdf

Common terms used in insurance terms common to both life and non life insurance terms are specific to life and non life insurance how insurance terms are used. Condition precedent to liability conditions which must be fulfilled if the insured s claim is to be accepted. Insurance companies to depute surveyors to inspect the premises and in case the surveyor fails to notice hazardous features and provided the details are not withheld by the insured or concealed by him them the insured cannot be penalized.

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Lapse termination of a policy due to failure by the insured to pay the premium as necessary.

Insurance terminology in hindi pdf. Basically the life insurance company declares up front the maximum age till which the life insurance coverage will be provided to the life insured. These are our words and interpretation of what they actually mean. Also referred to as statutory insurance. Acknowledgment of satisfaction of judgment a court form that the person who wins the case must fill out sign and file with.

Module 2 principles of insurance notes 59 principles of general insurance diploma in insurance services f. Facts covered by policy condition. Accused the person that is charged with a crime and has to go to criminal court. Larceny the unlawful taking carrying or riding away of another.

Acknowledgment saying testifying or assuring that something is true. Key person insurance insurance on the life or health of a person whose services are essential to the continuing success of a business and whose death or disability can cause the firm a substantial amount of financial loss. For instance you are 30 years old you opt for a term plan with a maturity age of 65 years. Insurance is a social device which combines the risks of individuals into a group using funds contributed by members of the group to pay for losses the essence of the insurance scheme is that it is a 1 social science 2 accumulation of funds 3 it involves a group of risks 4 transfer of risk to the whole group 2 3 background insurance as security is need of all human beings.

All are extremely important but on this first page we have tried to explain in plain english what the most important and common terms mean. Workers compensation insurance or compulsory third party insurance. English hindi legal glossary 2 21. Accusation a formal charge against a person.

Administrative glossary pdf english hindi प रश सन क शब द वल ram mains glossary of administrative terminology for all competitive exams. For example a claims co operation condition may require an insured to make its books of account available for. The risk of dying early the risk of living too long different products offered by life insurers term plans pure endowment plans combinations of. Insurance arranged in order to comply with the law e g.

That means the policy will have a coverage till you are 65 years old which also means the maximum policy tenure for a 30 year old is 35 years. Glossary of common insurance terms version 2 00 the following terms are commonly used in the insurance market and may well appear in your insurance policy arranged by us.