Insurance Terminology In Hindi Pdf
These are our words and interpretation of what they actually mean.
Insurance terminology in hindi pdf. Facts covered by policy condition. 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. 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. Also referred to as statutory insurance.
Accused the person that is charged with a crime and has to go to criminal court. 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. 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. The risk of dying early the risk of living too long different products offered by life insurers term plans pure endowment plans combinations of.
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. 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. Acknowledgment saying testifying or assuring that something is true. Accusation a formal charge against a person.
For instance you are 30 years old you opt for a term plan with a maturity age of 65 years. 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. 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.
Insurance arranged in order to comply with the law e g. Lapse termination of a policy due to failure by the insured to pay the premium as necessary. 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.
Larceny the unlawful taking carrying or riding away of another. English hindi legal glossary 2 21.
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