Tag: insurance

In our first eBook entitled “Principles of Insurance”, it is shown that the insurer will compensate the policyholder who experiences negative economic consequences from a specified insurable event such as fire to residential property, death of a life or diagnosis of a critical illness. For this protection, the policyholder pays a premium to the insurer….

Non-life insurance (also called property and casualty insurance in the USA and general insurance in the UK) typically covers a wide range of insurable events that includes damages to an automobile in an accident and financial loss caused by fire on real property. It also includes third party liability insurance which covers losses caused by a policyholder due to injury of another person and business insurance which covers financial and economic losses arising from property damages, product and professional liability. This list is not exhaustive….

We know that individuals make investments and accumulate wealth during their working life in order to provide for their financial needs during retirement. At the date of retirement, it is common for a retiree to transfer his/her accumulated wealth to an insurance company in exchange for (typically) monthly income payments. These payments are called annuities….

We know that individuals plan for the future and make investment decisions to achieve their long-term financial goals. But these plans may be interrupted by certain events which can have negative financial consequences. Examples of such events include the person’s premature death, critical illness such as cancer or damage to his/her property from fire. …