Insurance Works On The Principle Of – Interesting importance is an event, an event or an economic share in a person, which can lead to monetary hardship such as destruction, damage or damage occurs.
Interesting interest is a kind of investment that protects everything that is subject to financial loss. A person or organization is an interested interest in an object, event or action when the damage or damage to the object is caused by financial loss or other difficulties.
Insurance Works On The Principle Of
In order to have an insurance interest, a person or organization takes a doubtful person, an insurance policy that protects the article or event. The insurance reduces the risk of damage if something happens to the property -such as loss or loss.
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Interest is an important requirement for the insurance policy to issue an insurance policy, as a result of which the entity or event protects legally, valid and deliberately against harmful actions. People who are not subject to financial loss are not interested in insurance. That is why a person or company cannot buy insurance policy to cover himself if he is not actually subject to financial loss.
Insurance is the method for exposure to Pold Risk, which protects policyholders against financial losses. Insurance companies have created different tools to cover the risks with regard to various aspects of car costs, healthcare costs, loss of income due to disability, victims and loss of real estate.
Interesting interest specifically applies to individuals or entities, when there is a reasonable Umption HA of lifespan or sustainability, excluding negative events that are not forgotten. Interest that insurance is insured against the possibility of loss for this person or organization. For example, the company can be interested in insurance on its Chief Executive Officer (CEO) and an American football team can be interested in his Star Franchise Quarterback. Moreover, a company can be interested in its C-Suit officials, but not its average employees.
Fire or other destructive power will compensate for the homeowners of the policyholder who suffers a significant financial loss if they destroy their house. The homeowner has an interest in the property of the property; The loss of that house creates disaster loss for the policyholder. It is reasonable that the homeowner expect a long service life about home ownership. That is why the homeowner is insured against the possibility of damage.
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The policyholder can buy real estate insurance for their own house, but not a house across the street. The purchase of the insurance from homeowners for the neighbor’s house creates a stimulus for the house to damage and collect insurance income. The correct insurance does not make such temptations, which indicates a moral danger, where there is also encouragement to allow or influence damage.
The principle of compensation must be compensated for reimbursement policy for the damage falling through insurance policies, but the risks may not be rewarded or fined. Compensation indicates that insurance companies must create policies to cover the value of the risk actively. Poor pregnant or designed procedures create a moral danger that increases the costs for insurance companies and leads to premiums for policyholders.
There is also a need for life insurance insurance, although it does not always happen. There have been cases where people have certainly bought acquaintances as a forest because they expect the threatening death of that person. Life insurance instructions that require the policy owner to suffer a financial loss in the case of the death of the insurance. There can be immediate relatives, more distant relatives, romantic partners, lenders and business colleagues. The nominal value of life insurance policies does not exceed the value of their human life; Otherwise the compensation principle is violated, which creates a moral risk.
A policy is also not written for the insured person. The same thing took place in September 2018 when the Californian couple was accused of committing three insurance claims to receive 1 million life insurance purposes. Spouses Peter and Jin Kim Mr. Kim bought a life insurance policy for one of the customers and Mrs. Kim was mentioned as the beneficiary niece of the customer. In the second way, Mrs. Kim seemed to be the sister of the policyholder. Mr Kim, a recognized insurance agent, did not let the company know that he had a terminal disease diagnosed with the client when he submitted requests.
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Yes. The insurance interest is in particular the proof that a person or organization experiences financial or other difficulties as a result of a loss or loss of an object or person. It is assessed in the insurance process to guarantee this direct link. All insurance policies require such proof of interest that cannot be insured.
Moral danger when someone with an insurance policy is encouraged to collect on insurance or to cause damage. For example, someone who is sick can get a life insurance policy that is paid when they die as soon as they buy it. Being interested in insurance can help reduce moral risk.
If you are not interested in the insurance, you cannot purchase a life insurance policy for that person. If so, you can certainly set up the bet, otherwise you can take advantage of the death of random people. Family members and people charged are interested in insurance. In some cases there are also business partners, borrowers and important employees.
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