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Here we are providing AC Marketing Awareness PDF Capsule for upcoming banking exams, insurance exams and other government exams. Exams like IBPS and SBI contains banking awareness questions along with general awareness section. to the History of Banking, banking terms, Marketing of Banking Products, Subscribe Banking Awareness PDF 6 days ago Updated Banking Awareness study material for IBPS, SBI and RBI exams. Download free Study Material and Question banks from previous papers in PDF format. Capital Market & Money Market. Money Market and Its.
Prepaid Payment Instruments - All you need to know. A type of claim made by the nominee of the insured to the insurance company due to death of the insured. Third Party Administrators They are a vital link between health insurance companies, policyholders and health care providers. Surrender value is payable only after the payment of premium of three full years. An Overview of Bancassurance.
Terminal bonus Also known as persistency bonus which is paid once, i. It is a sort of loyalty bonus given to a policyholder for maintaining the policy till maturity. Its value is not guaranteed and will be disclosed only at the time of policy maturity. Third Party Administrators They are a vital link between health insurance companies, policyholders and health care providers.
ULIP Unit Linked Insurance Policy is a product offered by insurance companies that, unlike a pure insurance policy, gives investors both insurance and investment under a single integrated plan. Whole Life Insurance It is a life insurance contract with level premiums that has both insurance and an investment component.
Hope the above study material help you in your preparation. Free Mock Tests for the upcoming exams. Reading Time: Agent A person licensed by state to sell Insurance. The Agents serve as an intermediary between the insurance company and the insured. There are 4 types of Marine Insurance policies: Post Views: Write A Comment Cancel Reply.
The cost of replacing damaged or destroyed property with comparable new property, minus depreciation and obsolescence. A person with expertise in the fields of economics, statistics and mathematics, who helps in risk assessment and estimation of premiums etc for an insurance business. Accidental Death and Dismemberment Insurance is a policy that pays benefits to the beneficiary if the cause of death is an accident. A person licensed by state to sell Insurance. A long-term contract sold by an insurance company designed to provide payments to the holder at specified intervals, usually after retirement.
Banccasurance means selling of insurance products through banks. A specialist in insurance and risk management. It is primarily concerned with losses caused by injuries to persons and legal liability imposed upon the insured for such injury or for damage to property of others. An amount, generally expressed as a fixed percentage, an insured must pay against a claim after the deductible is satisfied.
It allows insured to convert a term policy to a permanent policy at a later date. A type of claim made by the nominee of the insured to the insurance company due to death of the insured.
A claim on property, such as a mortgage, a lien for work and materials, or a right of dower. A protection against the risks of loss on account of embezzlement or defalcation of cash or misappropriation of goods by employees. A contract whereby the insurer, on payment of premium by the insured, undertakes to compensate the insured for the loss or damage suffered by reason of certain defined subject matter being damaged or destroyed by fire. When freight is payable by the owner of cargo on safe delivery at the port of destination, the shipping company may insure the risk of loss of freight if the cargo is damaged or lost.
A type of insurance coverage offered to a group of people, usually, employees of a company, members of a union or association etc.
A risk that conforms to the norms and specifications of the insurance policy in such a way that the criterion for insurance is fulfilled is called insurable risk. A situation that an insurance company will protect you against because it is possible to calculate how likely it is to happen, how much damage it will cause, etc.
The amount of money an insured person or business becomes responsible for in the event of a claim. A policy for which all benefits to the policy holder cease and is terminated due to non-payment of premium amount on the due date or even after the grace period. A contract whereby the insurer undertakes to pay a certain sum either on the death of the insured or on the expiry of a certain number of years.
An agreement contract by which the insurance company also known as underwriter agrees to indemnify the owner of a ship or cargo against risks, which are incidental to marine adventures. A maturity claim is sent along with the original policy document to the insurance company before the maturity date to get timely settlement from the insurance company as a post dated cheque or ECS Electronic Clearance Service payment on the maturity date. A date on which the principal amount of a note, draft, acceptance bond or other debt instrument becomes due and is repaid to the investor and interest payments stop.
Amount charged every year by the insurer to provide the life cover to the policyholder on the life of the Life Insured.
Insurance of all types of motor vehicles passenger cars, vans, commercial vehicles, motor cycles, scooters, etc. Covers a wide variety of items from goods in transit or in store to building or contents. An insurance that an insurance company buys for its own protection.
This policy covers one person only and pays out the chosen amount of cover if that person dies, during the length of the policy, after which the policy would end. An amount a policyholder will get from the insurance company if he decides to exit the policy before maturity. This policy provides the insured person coverage for a certain period of time. Also known as persistency bonus which is paid once, i. They are a vital link between health insurance companies, policyholders and health care providers.
Unit Linked Insurance Policy is a product offered by insurance companies that, unlike a pure insurance policy, gives investors both insurance and investment under a single integrated plan. It is a life insurance contract with level premiums that has both insurance and an investment component. Important Facts Revealed Green Bond: India's First International Stock Exchange: Benefits and Limitations. Key Points to Remember Skill Banks: Functions and Working Banks Board Bureau.
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