The basic idea of life insurance
The basic idea of life insurance is to help reduce the impact of asset losses suffered by property owners, or parties to be borne by the owner of the asset, by providing compensation for losses.
We realize that we have assets that could suffer from the damage or harm caused by risk.
So the impact of risk is managed by life insurance companies.
Let's see how an insurance company can manage the impact of these risks.
Life insurance is a way to manage risk:
Moving the impact the loss of the individual to the group.
Dividing the losses suffered by the individual to all members of the group
Let's see how life insurance works with the following example :
We assume there are 1000 people aged 50 years in a healthy state.
However, estimates 10 people may be dead this year.
Suppose the value of the economic losses incurred by the family of the deceased is 2 billion.
If every one of the group contributed 5,000,000 / year
for mutual funds, the funds collected amounted to 5 billion per year, that amount would be enough to pay 2 billion to each family of the deceased.
The basic idea of life insurance is to help reduce the impact of asset losses suffered by property owners, or parties to be borne by the owner of the asset, by providing compensation for losses.
We realize that we have assets that could suffer from the damage or harm caused by risk.
So the impact of risk is managed by life insurance companies.
Let's see how an insurance company can manage the impact of these risks.
Life insurance is a way to manage risk:
Moving the impact the loss of the individual to the group.
Dividing the losses suffered by the individual to all members of the group
Let's see how life insurance works with the following example :
We assume there are 1000 people aged 50 years in a healthy state.
However, estimates 10 people may be dead this year.
Suppose the value of the economic losses incurred by the family of the deceased is 2 billion.
If every one of the group contributed 5,000,000 / year
for mutual funds, the funds collected amounted to 5 billion per year, that amount would be enough to pay 2 billion to each family of the deceased.
Thus the basic idea of life insurance is please help.
Economic loss suffered by an individual is a dependent group shared together, which is coordinated by life insurance companies.
Stages of life insurance business are as follows:
Unify : Unify the people with the same interests of insurance in order to share the same risk.
Collecting : Collect funds (premiums) from a group of people who have been put together earlier
Paying : Pay compensation (Claim) To those who suffered losses.
Economic loss suffered by an individual is a dependent group shared together, which is coordinated by life insurance companies.
Stages of life insurance business are as follows:
Unify : Unify the people with the same interests of insurance in order to share the same risk.
Collecting : Collect funds (premiums) from a group of people who have been put together earlier
Paying : Pay compensation (Claim) To those who suffered losses.
Life insurance business is sharing.
Aiming to spread the losses suffered by a group to all members who face the same risk.
Life insurance companies are as representative managing the funds collected on behalf of the community group.
Life insurance companies also have to set up in such a way that there is no injured party.
Aiming to spread the losses suffered by a group to all members who face the same risk.
Life insurance companies are as representative managing the funds collected on behalf of the community group.
Life insurance companies also have to set up in such a way that there is no injured party.
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