Principles of insurance

Life Insurance:

We are Channel Development Associate (CDA) of Reliance Life Insurance Co. Ltd.

General Insurance:

General Insurance products of the following companies are dealt

• Oriental Insurance Company
• Reliance General Insurance Company

Medical Insurance:

We are a leading distributor of mediclaim polices of

• Oriental Insurance Company
• Reliance General Insurance Company

Definite Loss :

The event that gives rise to the loss that is subject to insurance should, at least in principle, take place at a known time, in a known place, and from a known cause.

Accidental Loss :

The event that constitutes the trigger of a claim should be fortuitous, or at least outside the control of the beneficiary of the insurance. The loss should be ‘pure,’ in the sense that it results from an event for which there is only the opportunity for cost.

Large Loss :

The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims.

Affordable Premium :

Calculable Loss :

There are two elements that must be at least estimable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim.

Types of Insurance

• Health
• Disability
• Casualty
• Life Insurance
• Property
• Liability
• Credit
• Vehicles

Other types

• Expatriate insurance provides individuals and organizations operating outside of their home country with protection for automobiles, property, health, liability and business pursuits.
• Financial loss insurance protects individuals and companies against various financial risks.
• Kidnap and ransom insurance
• Locked funds insurance is a little-known hybrid insurance policy jointly issued by governments and banks. It is used to protect public funds from tamper by unauthorized parties.
• Pollution Insurance. A first-party coverage for contamination of insured property either by external or on-site sources. Coverage for liability to third parties arising from contamination of air, water, or land due to the sudden and accidental release of hazardous materials from the insured site.
• Purchase insurance is aimed at providing protection on the products people purchase. Purchase insurance can cover individual purchase protection, warranties, guarantees, care plans and even mobile phone insurance. • Title insurance provides a guarantee that title to real property is vested in the purchaser and/or mortgagee, free and clear of liens or encumbrances.
• Travel insurance is an insurance cover taken by those who travel abroad, which covers certain losses such as medical expenses, lost of personal belongings, travel delay, personal liabilities, etc.

Insurance Products at AMJ STOCKS

AMJ STOCKS is a Channel Development Associate of Reliance Life Insurance Company Ltd and Central Business Developer fir ICICI Prudential Life Insurance Company. The product portfolio includes

• Protection Plans
• Child Plans
• Retirement Plans
• Investment Plans
• Purity Plans ( Islamic Investment Plans)
• Health Plan