Knack Management


The first type arises out of the normal life of the individual during the work process, such as accident, sickness, death, residential house, vehicles, etc. The second one needs management, reduction and avoidance of risk depending on the behavioral aspects, psychology and preferences of the individual. The commonest example of (a) is the subcontracting of particularly hazardous activities to other agencies while insurance is the most important form of (b)

Before buying insurance an individual or corporate has to analyze the risk involved, and has to decide whether to buy insurance or not.

Life Insurance

Need of Life Insurance

You need Life Insurance because typically the need for income continues for those who are financially dependent on you, but there is no guarantee of your ability to earn consistently and for the rest of your life. Life insurance can help you safeguard the financial needs of your family.

This need has become even more important due to steady disintegration of the prevalent joint family system, and emergence of nuclear families. The need to protect your family's ever growing needs is why you need Life Insurance.

Life insurance Products.

Term plan - A term insurance policy is a pure risk cover for a specified period of time. It means that the sum assured is payable only if the policyholder dies within the policy term. . Whole life plan - A Whole Life Policy is an insurance cover against death, under this plan, the policyholder pays regular premiums until his death Endowment Plan- In an endowment plan, the sum assured is payable even if the insured survives the policy term. If the insured dies during the tenure of the policy, the insurance company has to pay the sum assured as any other pure risk cover. In a pure endowment policy, if the person covered remains alive beyond the tenure of the policy, he gets back the sum assured with some other investment benefits. Money Back Plan – money Back policies are structured to provide sums required as anticipated expenses (marriage, education, etc) over a stipulated period of time. A portion of the sum assured is payable at regular intervals. On survival the remainder of the sum assured is payable. In case of death, the full sum assured is payable to the insured.

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