EstudyLeague

This tutorial is divided into points covering various important parts of  Burglary Insurance . This tutorial is a quick summary of  Burglary Insurance .  Under this insurance, there is a theft in the policyholder's house and if the thief steals some valuable, the insurance company will compensate the policyholder for the loss. Some Important point: If the thief steals the valuables from the policyholder, then the insurance company pays compensation. The insurance company will give compensation even if a person breaks into the house of the policyholder without permission.  The policyholder has to prove that he had so much that has been stolen. For example, if the policyholder had gold, then he can show the gold receipt as proof. Very Important Principle of Burglary Insurance: The property loss of the policyholder is causing real harm to him, it should not happen that the policyholder has insured a worthless asset that he does not need. The insurance company assumes th...

This tutorial is divided into 7 points covering various principles of life insurance. This tutorial is a quick summary of the principle of life insurance.  Utmost Good faith:-  It is the responsibility of the policyholder to give the correct details to the insurance company so that there is no problem at the time of receipt of compensation. In the contract between the policyholder and the insurance company, it is the responsibility of the policyholder to give the correct information to the insurance company. For example, if a person insures his car, but gives the paper of another’s car or the property the policyholder is insuring is not his property, then compensation will not be given in this situation, hence insurance whatever contract has been made between the policyholder of the company, correct information should e given otherwise there may be trouble at the time of compensation.   Insurable interest:-  The property loss of the policyholder is causing real ...

This tutorial is divided into 8 points and in this tutorial, we will know which policyholder does not get a claim in term insurance in cases of 8 types of death, which is very important for any policyholder to know so that they do not face any problem in getting compensation.  If a policyholder dies due to HIV AIDS then the insurance company rejects his claim. If a policyholder dies due to addiction to alcohol and drugs, then the insurance company rejects his claim. If a policyholder dies due to dangerous activities like sport adventure, paragliding, car racing, etc., then the insurance company rejects his claim. If a policyholder dies due to pregnancy and childbirth, then the insurance company rejects his claim. If a policyholder dies due to a natural disaster like an earthquake, tsunami, etc., then the insurance company rejects his claim. If the policyholder is killed and then if it is proved that the policyholder nominee killed the policyholder in the greed of money or it can be...

In this insurance policy, the policyholder received financial protection or reimbursement from the insurance company against the loss due to fire. Under a fire insurance policy, if the policyholder is harmed by the fire, then the insurance company undertakes the responsibility of paying the policyholder compensation and bringing it back to its original position so that it can take whatever it wants. Usually, fire insurance is only for 1 year or 2 years and the policyholder has to get the policy renewed after 1 year. How the policyholder can pay the premium in a fire insurance policy:- By Installments By Lamp Sum By installments :- The amount of the premium, as one of many similar payments to an insurance policy is spread over an acceptable time. By Lamp Sum :- Single payments made at a particular time, unlike many premiums or installments. Term and Conditions:- According to the fire insurance policy, if the policyholder has a fire in the house but no damage has been done, the insurance...

In this post, we will know what is the difference between secured loan and an unsecured loan, which loan has to pay more interest and which loan has a lower interest rate and we will find out which secured loan and unsecured loan are more profitable. Secured loan In this loan, a property is taken and then the loan is given.  For example, in a home loan, any of the borrower assets are mortgaged. In a car loan, the borrower's car is mortgaged. In a gold loan, borrower gold is kept as security. The bank will recover its loan by selling the mortgage property of the borrower in case of fraud by the borrower in the security loan. In a secured loan, the loan is given less than the assets of the borrower so that the bank can recover its loan easily in case of fraud.  Example, If borrower assets are 1 crore, the bank gives loans up to 90 lakhs. Because the bank mortgages the property in exchanges for the loan, hence the bank charges less interest in this loan. The risk in this loan is ...

Suppose a person  took a home loan from the bank, but in return the bank pledges his home as security, so that if the borrower does not repay the loan, the bank has the right to recover the loan by selling that person’s property. When a bank gives a loan to an individual or a borrower in return, it mortgages the immovable assets such as houses, factories etc. The bank retains the property of the borrower only as security until the borrower has repaid the entire loan.  If the fraud is committed in any way or the loan has not been repaid, the bank has full right to recover its losses by selling the property of the borrower. Suppose the borrower has two assets, one of which is the property that the borrower has pledged to the bank for the loan and if later the borrower does not repay the loan, then the bank can only sell the property which in exchange for the loan is taken.  Key points :- The owner or borrower of the property is called mortgagor. The lender or the bank is ca...

In this tutorial, first of all, we summarize the definition of Vehicle Insurance, Vehicle insurance means the insurance of our vehicle whether it is a two-wheeler, car and also other vehicles. Why Vehicle Insurance is necessary for India:-  According to the Motor Vehicles Act of, 1988, it is mandatory to have insurance for all vehicles running on the roads of India. So often we can see that whenever the checking happens, the traffic police ask us about the insurance paper of our vehicle and if there is no insurance paper, we have to pay a penalty. According to Motor Vehicles Act 1988, it is compulsory to ensure all vehicles plying in India, whether they are two-wheelers, cars, or other vehicles, otherwise, a penalty may be imposed if checked by the traffic police. Vehicle insurance protects the policyholder, if the policyholder's vehicle is damaged, in case of loss from theft, etc. the compensation so that the policyholder can easily deal with the loss.  There are two types of...

  This tutorial is divided into 5 points covering various important parts of life insurance. This tutorial is a quick summary of life insurance. First of all, we know about life insurance. The insurance that you take for life is called life insurance .   Term Insurance :- From the name of the skin itself, we can understand that it is for a fixed period who has taken the insurance policy will get compensation only when he dies for the time the insurance policy is taken if their death occurs after the stipulated time, the insurance company will not pay anything to the nominee. Whole Life Insurance Policy :- In a whole life insurance policy, the policyholder pays the premium as long as it is alive and when the policyholder dies, the insurance company pays the policyholder nominee. Endowment Plan :- In the endowment plan, the insurance company will pay the policyholder nominee if the policyholder dies between the stipulated time and if the policy time is over, the insurance compan...