Insurance Market

In insurance market, goods are not purchased and sold like commodity market but insurance company provides the services of insurance for taking risk of policy holder after getting regular premium.

If you are interested to know insurance market deeply, we can explain it with simple example

Imagine a person who is single source of earning for his whole family. In his family, there are parents, wife, and two children who are dependent on that person. Suppose one day, he dies in road accident or any other reason (except suicide or drinking). What will happen on his family? Who will support his family? Who will teach his children? Who will purchase medicine for his old parents? All these support will be in money, fund or cash. Even God will not come for their help. I think that no body will support his family in this material age (INDIAN WORD: KALYUG). In this age man or woman has become demon. You can see the doors of hope from your relatives, but your relative have their own family obligations and they are helpless to support.

From above example, you can understand that risk of life of everybody is main issue of tension. Every body wants to support his family after his death. Insurance covers the risk of life with minimum amount of premium. A place where you can take insurance policy that place becomes the insurance market. Large number of public and private insurance companies and their branches in different cities are just like the shops in insurance market. Globally insurance market is growing with 7% to 8% growth rate. But still in India only 4% of GDP covers under insurance. Life Insurance Corporation is the first public sector insurance company who has largest policy holders in India in 2010.

LIC has launched different policies like jivan bima, market plus policy and wealth plus policy for providing maximum benefits to policy holders.

Insurance market provides both returns on insurance investment and tax benefits. After becoming insurance regulation development authority of India under IRDA ACT 1999, doors of private sectors open in insurance sector in India. Investor are also sure about protection of his insurance investment after making strict rules by IRDA for private companies for working in Indian insurance sector.

Not only life insurance, insurance market is providing many other insurance facilities like home insurance, wealth insurance, crops insurance, fire insurance, automobiles insurance, health insurance and recently launched Earthquake insurance. It is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property.

Download our Accounting eBooks

Financial Accounting eBook

Download Now »

Cost Accounting eBook

Download Now »

Corporate Accounting eBook

Download Now »

Management Accounting eBook

Download Now »






access account accountant Accounting accounting definitions accounting ebook Accounting education accounting procedure accounting process outsourcing Accounting Software advance advertising africa Amalgamation amendments announcements Annuity assets audit auditing Australia B.Com. balance sheet bank Bank reconciliation banking basic accounting BBA benefits best bill black money blog bloggers book keeping bookkeeping Branch Accounting - full tutorial budget Budget variance business businessman CA calculator canada capital capital budgeting career cash cash book cash flow statement Chiense children china class coaching coins college commerce commerce students company computer computer accounting conference Contact vinod kumar Control Your Spending corporate accounting cost cost accounting cost center cost centre CPA credit credit card cs currency data Debit and credit debit cards debt debtor degree depletion depreciation Diwali Messages documents dollar domain Downloads Dubai e-accounting earning education Education Loans email employee EPF ERP euromoney examination excel excise duty expenses facebook factor of loan fans feature fifo FII fiji finacle finance Finance Journal Entries Financial financial accounting fire insurance flickr flow forensic forex formula france fraud free fun function fund GAAP GDP gdr germany gold goodwill goodwill accounting google google apps Google Adsense google apps google base google buzz google calendar Google docs google finance google fusion tables google talk govt. GST guide health Hindi Hindi Language history holding company How to treat FBT in Tally 9 HRA ICAI ICAWI ICICI Bank IFRS income income statement Income Tax India indian railway Indonesia inflation inflation accounting infographics information inspiration insurance insurance accounting Intangible interest international Internet Introduction of Tally 9 inventory investment investment in Shares invoice IT Japan Job costing journal entries Journal Entries eBook Help Kalculate keyboard kindle kuwait laptop law LBT learning lease lecture ledger leducation Leverage Analysis liabilities lifo linkedin loan logical point loss loss of profit M.Com. m.phil malaysia management accounting manual accounting manufacturing account market marketing mastercard material MBA MCA media migration mobile money ms word ms. excel multi currency in tally 9 Multicurrency Accounting mutual fund national security new and sacrifice ratio new york times new zealand news NGO nonprofit-accounting North Georgia Mountains NPV NSE odbc office oman online application online accounting Online Accounting Course otcei pakistan parents Partnership pay pal pdf Personal Finance pie chart pie chart of income pnb podcast ppf presentation price privacy policy prize money prof. vinod kumar profit profit and loss account project management provision purchase puzzles quickbooks Quote quotes quotes of svtuition rating agency ratio analysis RBI readers real estate rectification of errors remote control reports reserves responsibility accounting retirement revenue Revenue reserves review risk rupees salary sale saudi arabia saving sbi scholarship school SEBI security service tax share share trading Shares shri lanka singapore sms social accounting society solution South Africa stock stock exchange structure student students study subsidiary company svtuition swiss bank tally tally 9 Tally 7.2 Tally 9 Tally.ERP 9 tanzania tax Tax Accounting TDS teacher teaching technology test testimonial testimonials thailand tips trading trading on equity transaction trend trial balance truthfulness tuition twitter UAE UGC - NET Commerce UK United Arab Emirates university usa valuation VAT Video Voucher and vouching Wealth wikipedia working capital youtube
Accounting Education: Insurance Market
Insurance Market
Accounting Education
Not found any lecture VIEW ALL Continue reading Reply Cancel reply Delete By Home PAGES Lectures View All RECOMMENDED FOR YOU Category ARCHIVE SEARCH ALL Lectures Not found any lecture match with your request, please help to write it and send it to our email at for making this website free accounting and finance encyclopedia. Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock