February 9, 2017

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Procedure of obtaining an insurance coverage

Procedure of obtaining an insurance coverage If someone needs to have an insurance, firth he should submit an insurance proposal to a selected insurance company after accepting the proposal by the company both parties come to a written agreement which is called the insurance agreement Parties related to insurance agreement First party -; insured the
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Insurance based on the ability of measuring the risk in monetary terms. Insurers are covering only the insurable risks. Some risks which are faced by people are unable to insure such risks re.   Failure of exams, lose of love and affection risks based on personal abilities. 2. stock expiration, depreciation, business risks based on
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The insured is bound to pay insurance installments and the insurer agrees to pay claims for the insured in the event of damages. Insured face different risks in life. So that they obtain insurance policies to indemnify their risks. Thus the insurance fund is created or any damage of insured property necessary, compensation is paid
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