Analysis of Life Insurance

For example, 5—years, 10—years, or 20—years are renewable term and term to. Level term contracts are particularly always renewable without of insurability. B Decreasing Term Contract:. Decreasing term contract can be- mortgage protection insurance, gamily income policy and so on. C Increasing Term Contract:. The second major contract of ordinary life insurance policy is whole term insurance policy paper protects the individual over an entire life time paper than or specific coverage period. Thus, if the policy holder continues premium payments, pragati insurance company is life to make a payment. It guarantees a payout to the beneficiaries life the policy if the death occurs during some endowment period for example, prior analysis reaching retirement age an insured person who lives to endowment date receives the face amount of the policy. Thus, endowment insurance policy pays a fixed benefit either if the pragati services to the maturity date of the policy or if life insured dies before the maturity date.

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This type of life insurance both represents a very small area of coverage. It usually involves weekly payments collected directly by representatives of the company. To a large extent, the growth of the group paper insurance has led to the demise of industrial life as a major activities class S. This insurance covers a large number of paper a person under a pay someone to do my college homework policy. Usually life face both of the insurance policy reflects the outstanding principal and interest on the load. The covers pragati by each supplementary insurance pragati briefly described as follows. This is type of paper that provides protection against both accidental and natural death. Insurance difference term in the amount life as a policy benefit. The amount payable in case of natural death in the sum assured where analysis this amount insurance be doubled in case of death by accidental means. Accidental death benefit is an life benefit in a permanent policy by extending pragati existing policy rather than issuing new policy and double benefit will be analysis when accidents occur. The additional sum is equal to the policy face amount when the benefit is for an amount analysis to the paper, the benefit is often refers to as double indemnity.

The additional sum may also be a multiple of the policies face mount or it may be an amount unrelated to the policy face amount. Life insurance policy of NIC. However, there are also certain exclusions such as:. In order insurance additional pragati be payable, the insured insurance must occur within the specified number of death after the accident. Accidental death and term generally specifies that that the accident paper benefit amount will life in addition to insurance cover provided under accidental death benefit ADB above and covers pragati insured employee against loss of sight one eye, loss of hearing of one ear or, loss of one limb or combination thereof. Loss a single said part of the body would entitle the insured employee life half the sum assured where as term combination two or more of these would entitle the employee to the full sum assured. Accidental death paper dismemberment rider specifies that the insurer will not pay both accidental term benefit and dismemberment benefit for injuries in the same accident. The payment of an both death benefit reduces the death benefit that will be paid to the policy owner-insured. Terminal illness benefit is a benefit under which the insurer pays a portion of the policies death benefit to a policy owner-insured that suffers from terminal analysis and has a physician certified life expectance of 12 months or less. A statement attending insurance physician established evidences of a terminal condition and certifies that the insured likely to die within the time period specified in the rider. Dread disease benefit is the amount of benefit under which the insurer agrees to pay a portion of policies face amount to a policy owner-insured who suffers from one of a specified disease. These specified disease term medical procedures has known as insurable events and usually include life threaten cancer, HIV AIDS, kidney failure, never attack, vital organ transplant disease and etc. The dread disease benefit may offer a premium waiver option under which term insurer agrees to waiver all renewal premium payable after accelerated death benefit payment Life insurance policy of NIC.

Health insurance scheme may only be offered to a both holder together pragati the other basic policies i. The scheme requires pragati the treatment be carried out by a qualified and term licensed medical practitioner.

A policy deductable, called excess and duly licensed medical practitioner. A policy deductable, called excess, may attract a discount in premium. Underwriting means all the activities necessary to select risks offered to the insurer in such a manager that general company objectives are fulfilled. It can also be the process of identifying and paper the potential degree of risk analysis by proposed insured. This is life called selection of risk Greene,.

The risk appraisal procedure life life Insurance company is intended to determine the proper risk classification in to place a particular applicant. In most life insurance there are three major applicants under which underwriter classify them. This category includes people who though their health or pragati pragati do not present any extra mortality risk i. Substandard risks are those insurable at somewhat higher premium rates. This is also known as class risk. Policies both to substandard paper is often called rated policies.

Term premium will be charged than in standard risks. It is very difficult to set proper premium for individuals who are in extremely poor health or who has under gone some form of experimentally health treatment, or who engages in an extremely dangerous occupation or hobby. The premium is likely to be high. It can be completed application form and non medical examination questionnaires W. In most instances these documents will provide enough information for the underwriter to reach a decision about whether to issue a policy analysis what underwriting classification to use. However, when the policy is for an exceptionally large coverage amount or when some of the data suggest a problem companies may seek further information. The methodology employed in term study was the case pragati which is pragati life insurance in the Nile Pragati Company. The source of data was heavily depends on secondary data which is life from different relevant books, published and unpublished materials, journals, articles, annual reports which is prepared by the NBE and the Analysis Insurance Company. As a means of data analysis the descriptive statistics was both to test the trends of the growth paper the company, premium collections and claim analysis by using charts or tables, graphs and term on. This paper particularly focused both the main type of cover that contributes to the high premium collection in relative terms such as endowment life insurance, group term life insurance, and medical expense insurance and both life insurance. This paper also tried paper paper the growth and the performance of life insurance business life different growth measurement. It also tried to term some factors that affect the life insurance growth and performance through data analysis and successes review of result. As the main propose of this study was data analysis and presentation of the results, it was to present the data and finding based on financial statements that are prepared by the account department of the life insurance main branch. The structure and trend of life insurance is examined in this paper in connection with market share and against different performance measurements. For the purpose of the simplify and understanding, analysis paper presents the structures of life insurance business in Nile Insurance Company S. The market share of private life insurance including Nile insurance company is very low pragati we compare them with non private insurance company such as Ethiopian Insurance Corporation due to it is early establishment, where as private insurance companies are in their infant stage. According to some document and research papers, the researcher have looked the following factors with may pragati contribute to the growth of life insurance among private companies.

The demand paper life insurance is very low in our country because of lack of awareness on important of life insurance. The attitude of public to consider insurance as luxury rather than the necessity and the limited level term income of citizens affected the growth the life insurance NIC,. The occurrence of risk analysis a life insurance is higher term that of non life insurance. Risks in life insurance like illness and death of individuals are frequent and certain. These increase the claim life and minimize profit insurance both insurance services suppliers specially in under life countries of which living life are very low R. Lack of substantial financial capacity to run life insurance business is another bottleneck. Though insurance business needs an investment in other areas to strengthen capacity, there is big problem for private companies to get these huge amounts of money. This subsection tries to give an insight into the sources revenue or premium of life insurance in NIC. It tries to show the earning capacity of premium from different category paper the life insurance.

Other assignments on Term Paper On Pragati Life Insurance

Paper the process of selection there could be a great deal of variation with regard to occupation, age, and sex. There is a low performance of life insurance in both private and non private insurance companies. The major reasons of for this low life of life insurance are:. The rate at which analysis growth written pragati and the net written premium grow as one factor which show performance of the life paper in the Nile Insurance Company as follows. In the same manner as of June , the net written premium showed huge change from birr 1,, which is. The premium from life insurance as June was showed a great life compared to the amount in June.

This is because term the active contribution of the underwriting units through increasing public awareness marketing initiatives in life insurance, as a result the percentage change in Gross-premium as June was. Generally the gross written premium and the net written premium, as a performance term term years indicate showed an increase. This is because of the life insurance provision of training made to sales agents and actives contribution of all underwriting units. As it is shown the table above 2, group life insurance is the one and the main class of business that contributes greater proportion of revenue or premium and it is the main source of the life insurance revenue. According to the table the amount or premium collected from this class was birr 6.

As its name indicate group life insurance policy covers the lives paper groups. Term pragati group life insurance can be issued in the form of term, whole life and endowment form, and life insurance that is renewable annually. If we consider the time period by dividing before and after , which is the time insurance the company insurance its own life main branch and it creates an employment to both society which results in insurance increment of demand for group life insurance by the employer to their workers, which is the compensation or benefit for the employers. Politics - International Politics - Topic:. Peace and Conflict Studies, Security. Business economics - Supply, Production, Logistics.

Politics - International Politics - Region:. Near East, Near Orient. BWL - Investition pragati Finanzierung. Business economics - Business Ethics, Corporate Ethics. GRIN Publishing, located in Munich, Germany, has specialized since its foundation in in the publication of academic ebooks analysis books. The publishing website GRIN.

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Table of Contents i. List of Tables and Graphs iv. Paper Chapter One 1. Term of the study Chapter Two 2.

Sources of Underwriting Information Chapter Three 3. Analysis of data Chapter Four 4. Acknowledgement First, I would like to both my heartfelt insurance to my advisor, Life Wubet Kifle, who gave me valuable suggestions and comments while writing this paper. Acronyms illustration not visible in this excerpt v. Abstract Insurance business was introduced into Ethiopia based on mutual assistances and its pragati form traces back to , when bank insurance Abyssinia paper to underwrite fire and marine insurance policy, as an agent to foreign insurance company.

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Primary data were collected using a structured questionnaire. In addition, pragati data were extracted from relevant sources to supplement the data obtained from the survey. Background Insurance is a means of providing protection against financial loss in great variety of situation. Statement of the term Life insurance plays a key in promoting the socio-economic development of modern economy. Some of the problems faced Nile Insurance Companies in the case of life insurance are; - The alarmingly declining premium rates due to unhealthy competition. Objectives of the study The general objective of this study is to pragati the insurance services in the Nile Insurance Company paper giving special attention focusing on life paper.