Insurance Terminologies – I


I have decided to start a new series of post containing various terminologies related to insurance which one can come across in dealing with insurance related matters. This is the first installment of this series. I will keep things simple and straightforward so that any one reading the post can understand. I will not cover too much terminology in one post. Each post will contain three to five terminologies. This may also be helpful to those pursuing or willing to pursue their study in insurance. So let’s start.

  • Insured: Insured is the person who has taken the insurance policy. The other word which is synonymous to this is the policyholder. Both are synonymous to each other. Suppose, if you have taken a life insurance policy, then you are the insured or the policyholder.
  • Insurer: This is the insurance company which provides you the insurance. The company providing life insurance is known as life insurer and the company providing non-life insurance is known as non-life or general insurer. Some of the insurers in India are LIC of India, ICICI Lombard, SBI Life Insurance, SBI General Insurance, HDFC Ergo General Insurance, Bajaj Allianz General Insurance, PNB Metlife etc.
  • Beneficiary: This is the individual who will receive payment due to annuity, life insurance policy etc. Nominee is an example of beneficiary who receives the payment on the event of insured death.

Ashish Kumar

… 3 DAY QUOTE CHALLENGE – DAY 2 …


Two eminent bloggers namely Shweta Dave and Deeshani Batra have nominated me for 3 day quote challenge. Writing quotes is always a pleasant feeling for me. Quotations play an important part in our life as it has the potential to say deep in few words. So on behalf of the nominations from two bloggers I would like to thank them from core of my heart. Thank you so much Shweta Dave and Deeshani Batra for giving this opportunity. I will suggest you to go through their blogs  too. I am a regular reader of Shweta Dave and I am reading her blogs for couple of years. She is an excellent writer and I am sure you will like her writings as well. 🙂   Deeshani Batra is a very good writer whose writing will impress you for sure. Her posts are refreshing and you will enjoy reading them. Do check their blogs… 🙂 This is the second day of challenge.

Now before I share a quote I would like to mention the rules first.

Rules

  •      Post a favourite quote of yours for 3 consecutive days,  obviously  a different quote          each day from any book, any author of your choice. It could also be your own quote.
  •      Nominate 3 bloggers with each post to challenge them.
  •      Thank the person who nominated you.

Now here is one of my own quote which I would like to share today. I hope you will agree on it… 🙂

 True love happens from inside, there is no need to publicize. ”                                           – Ashish

My nominees for today are as follows:

All the best to the nominees. I will be eagerly waiting to read your quotes… 🙂

– Ashish Kumar