CLOSE ADS
CLOSE ADS

Features of Premium in Insurance

Features of Premium in Insurance



Premium or insurance premium is that money for which insurer provides financial security against risk on behalf of the insurance policyholder. Premium can be paid in one time or several times. The features of the premium of life insurance are given below


Definition of Premium in Insurance

Features of Premium in Insurance

Functions of Insurance



Proposed sum insured on the amount of claim

If the amount of the claim is huge then the amount of premium is huge. Again if the amount of the claim is small then the amount of the premium is small. The main feature of the premium is that the amount of the premium is depending on the amount of the claim.

Image of Features of Premium in Insurance, Insurance management, importance of insurance,


Nature and amount of Risk

Risk of life is the main factor to calculate the premium. If life is risky then the premium is high but if the life is less risky, then the premium is low.  It is another feature of the premium of life insurance.  The risk of life is calculated in different ways. As for example the profession of insured, physical condition and physical structure of insured, personal and family history of the insured, residence, etc.


Type of insurance contract and of premium

For the different kinds of an insurance contract, the amount and number of installment are different. Again, for the different types of premium, the installment may be in different period of time. So the type of insurance contract and of the premium is played a vital role in calculating the rate of installment.


Management Expenses

 If the management expenses of the insurance company are cheaper then the company can give the insurance policy in cheaper premium rate. So the premium of life insurance also depends on the management expenses of the insurance company. That is another important feature of the life insurance premium.

For sustainable life insurance, the premium is one of the key factors for ensuring the subject that has been insured by the insurance company.

I hope you got to know about "Features of Premium in Insurance"

Comments

Labels

Show more

Trending on Last 7 Days

YouTube channel [ name ideas for education ] : Best Creative and Unique 5000+ [ Educational YouTube channel ] name ideas and suggestion

YouTube channel [ name ideas for Facts ] : Best Creative and Unique 700+ [ Facts YouTube channel ] name ideas and suggestion

YouTube channel [ name ideas for motivational ] : Best Creative and Unique 600+ [ Motivational YouTube channel ] name ideas and suggestion

Best 50 + [ Future business ideas 2025-2050 ] in the world | [ Smart and Profitable Business Ideas ] for Upcoming Future

YouTube channel [ name suggestions for travel ] : Best 2200+ [ Cool and Unique YouTube channel name ideas for travel ]

लघु एवं कुटीर उद्योग, लघु उद्योग के बारे में जानकारी, घरेलू उद्योग, लघु उद्योग लिस्ट व्यवसाय लिस्ट,भारत में ग्रामीण क्षेत्रों के लिए छोटे व्यवसाय के विचारों,सबसे अच्छा व्यवसाय भारत में ग्रामीण क्षेत्रों के लिए व्यापार विचारों,भारत में निर्माण व्यवसाय विचारों,मोठा व्यवसाय ग्रामीण भारतातील प्रमुख व्यवसाय कोणता,ग्रामीण क्षेत्र में रोजगार के अवसर घर का बिजनेस,home business, बिजनेस आइडिया 2020 laghu udyog and kutir udyog in Hindi,small business in hindi

क्लाइंट साइड और सर्वर साइड के बीच अंतर difference between client side & server side

Channel name for youtube : YT Names [ Gaming channel ] Best Cool, Creative and Unique 1372+ [ Gaming YouTube channel ] name ideas and suggestion

How 29 year old founder Abhi Ramesh who Built a $1 Billion dollar Start-Up Called Misfits Market (Startup Motivation and Positive story, Learning)

2018 a short honest story Hindi,Honest ईमानदारी के बारे में कहानी

Trending on Last 30 Days

YouTube channel [ name ideas for education ] : Best Creative and Unique 5000+ [ Educational YouTube channel ] name ideas and suggestion

YouTube channel [ name ideas for Facts ] : Best Creative and Unique 700+ [ Facts YouTube channel ] name ideas and suggestion

YouTube channel [ name ideas for motivational ] : Best Creative and Unique 600+ [ Motivational YouTube channel ] name ideas and suggestion

Best 50 + [ Future business ideas 2025-2050 ] in the world | [ Smart and Profitable Business Ideas ] for Upcoming Future

लघु एवं कुटीर उद्योग, लघु उद्योग के बारे में जानकारी, घरेलू उद्योग, लघु उद्योग लिस्ट व्यवसाय लिस्ट,भारत में ग्रामीण क्षेत्रों के लिए छोटे व्यवसाय के विचारों,सबसे अच्छा व्यवसाय भारत में ग्रामीण क्षेत्रों के लिए व्यापार विचारों,भारत में निर्माण व्यवसाय विचारों,मोठा व्यवसाय ग्रामीण भारतातील प्रमुख व्यवसाय कोणता,ग्रामीण क्षेत्र में रोजगार के अवसर घर का बिजनेस,home business, बिजनेस आइडिया 2020 laghu udyog and kutir udyog in Hindi,small business in hindi

[प्रेगैबालिन] साइड इफेक्ट्स हिंदी में [ Pregabalin ] ke side effects in hindi

क्लाइंट साइड और सर्वर साइड के बीच अंतर difference between client side & server side

सकारात्मक सोच के लाभ,सकारात्मक सोच की शक्ति Benefits of Positive thinking in Hindi

How 29 year old founder Abhi Ramesh who Built a $1 Billion dollar Start-Up Called Misfits Market (Startup Motivation and Positive story, Learning)

YouTube channel [ name suggestions for travel ] : Best 2200+ [ Cool and Unique YouTube channel name ideas for travel ]