We come across various insurance terminologies while buying insurance. Listed are a few terms which are commonly present in the policy document. Insurance Means to manage financial risk in the form of compensation. It transfers risk from one person to a group. Insurance contract A contract between two parties in which one party (insurance
You throw a birthday party for your spouse and invite all your friends over. As a part of the party games, you set up a Tambola/Housie board. Each person contributes 10 rupees to buy a Tambola ticket. The amount collected is the prize for the winner. The game is simple. Each ticket has 15
Nisha is happily married to Amit for five years. They have a beautiful one-year-old girl, Kavya. They recently bought a 2 BHK in a good neighbourhood in Mumbai with excellent educational institutes. Amit works as a manager in an MNC. They can easily pay off the house loan installments since Amit is earning well.