Banking and Financials

  Insurance contract can be classified into two types as the following: 1) Contract of Indemnity 2) Life Insurance Contract 1) Contract of Indemnity The contract of indemnity is called the contingent contract because the indemnity depends on the incidents in the future. An incident is uncertain, may or may not happen. If the incident takes place, the indemnity should be given but if the incident does not occur, the indemnity should not be given. An indemnity refers to the economic loss that occurred should not be given. An indemnity refers to the economic loss that occurred to the insured to be fulfilled by the insurance company. The objective of indemnity is to restore the property of the insured to the condition before the incident. Indemnity is provided only up to any fixed amount if the subject matter of insurance is suffering damage within the insurance period because the insurer makes insurance by taking the premium from the insured. The contract of indemnity has its own type...

There are many financial and insurance products available within the financial mark et that offer investment opportunities and receive higher returns on your investments. Among the products available within the market, fixed deposit (FD) and life Insurance are among the foremost popularly used investment products. T hough life insurance is an insurance product, many use life insurance as an investment product. On the contrary,  a fixed deposit may be a pure investment product wherein you'll invest for varying tenures. Nonetheless , both life insurance and fixed deposits serve your different needs. About Fixed Deposit Fixed deposits are investment products. You can invest in fixed deposits for fixed tenures as per your convenience and obtain attractively returns on your investments at maturity. Normally, banks don’t allow you to withdraw your deposits before a given maturity. But, with prior notification to a bank, you'll withdraw your fixed deposits. Benefits of Investi...