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TERM INSURANCE VS GENRAL INSURANCE

Created by : HARISH , Production Manager BLUE STAR  | 10 06 2009 16:48:19 +0000
Industry : Insurance
Keywords : term and genral insurance
Activity:  170 views;  last activity : 07 06 2010 20:18:09 +0000

WHETHER THE TERM INSURANCE SHOULD BE COMPULSORY LIKE GENRAL INSURANCE

  
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I PROPOSE TERM INSURANCE COMPULSORY LIKE CAR/BIKE Vs CAR/BIKE INSURANCE SHOULD NOT BE COMPULSORY
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I PROPOSE THAT TERM INSURANCE SHOULD BE COMPLSORY LIKE CAR /BIKE INSURANCE.WE ARE GIVING PREFRENCE TO NON LIVING THING SO WHY NOT LIVING THING.

I PRPOSE TO THE AUTORITY TO LOOK INTO THE MATTER AND IT SHOULD BE MADE COMPULSORY FOR THE EARING MEMBER OF THE HOUSE.IT MAY BE THE CHOICE FOR THE PERSON TO TAKE OR NOT FOR NON EARNING MEMBER

THE AMOUNT IS DEPEND UPON THE SALARY STRUTURE AND SOME AMOUNT TO BE KEPT RESRVED FIXED FOR INCOME TAX BENFIT SO PEOPLE WILL GO FOR THAT.
By HARISH , Production Manager BLUE STAR  10 06 2009 16:48:19 +0000
 
Top Argument
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The whole idea of insurance is to cover risk. On flip side majority pays for minority sufferers.

The idea is not to deprive the sufferers but to make them understand the value of money others are paying which should not be mandatory but left to one's choice.
By Shailesh Vadalkar, Business Analyst, Al Rostamani Pegel LLC  10 06 2009 16:54:01 +0000
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I would go with Term life insurance since it provides coverage at a fixed rate of payments for a limited period of time.
It is the original form of life insurance and can be contrasted to permanent life insurance such as whole life, universal life, and variable universal life. Unlike permanent life insurance policies guarantee coverage at fixed premiums for the lifetime of the covered individual. Additionally many permanent life insurance products build a predetermined cash value over the life of the contract available for later withdrawal by the client under specific conditions.
By Niranjan Meena, Actuary Manager, LIC  | 10 28 2009 07:13:06 +0000
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I feel this is a nice idea ...bcoz  whatever the reason be ...but doing so will add to benefits for us...

I know this is a matter of choice but we really dont understand the importance of Term Insurance & that too in THE WORLD OF TODAY !!!

but if it is compulsory as in motor insurance - it will really serve a nice purpose...

by doing this even if we are forcing a very little burdon on every individual --- still it deserves...

i have good knowledge of insurance & i have seen the real value of insurace in real life.... its really great....


By dilip gour, NA, ABCABC  | 10 28 2009 04:09:34 +0000
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I would go with General insurance since it comprises of insurance of property against fire, burglary etc, personal insurance such as Accident and Health Insurance, and liability insurance which covers legal liabilities etc. They offer policies covering machinery against breakdown, cover the hull of ships and so on. A Marine Cargo policy covers goods in transit including by sea, air and road. Further, insurance of motor vehicles against damages and theft forms a major chunk of non-life insurance business.
By Vijay Kumar, Actuary Manager, LIC  | 10 28 2009 07:15:06 +0000
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I agree with Shailesh. The concept of Insurance is Risk cover. The concept of insurance is to make people understand the value of money and recover on their lost assets not to spend on unnecessary things....
By Sonam Kapoor, Software Developer, IBM  | 10 07 2009 08:50:46 +0000
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Thanks for sharing the good thing.your idea will keep the person focused on the goal.
GENRALLY CEO ARE THOSE WHO HAS STARTED THE ORGANISATION .THEY HAVE TAKEN THE RISK OF BUISNESS AND SOME ONE HAS COME FROM ANY EMPLOYMENT. THEY ARE THE ONE WHO IS PROVING JOBS  TO SO MANY PERSON .I SUPPORT THERE SHOULD NOT BE CAP ON CEO
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