Risk Awareness and Usage of Child Insurance Plan with Special Reference To Hdfc Standard Life Insurance Company in India

Hebbar, C K and Shenoy , Sandeep and Rao, Guru Prasad (2014) Risk Awareness and Usage of Child Insurance Plan with Special Reference To Hdfc Standard Life Insurance Company in India. GJRA - GLOBAL JOURNAL FOR RESEARCH ANALYSIS, 3 (6). pp. 116-121. ISSN 2277 - 8160

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Abstract

Every asset has a value for its owner and also for those who are benefited with the existence of that asset. Insurance is concerned with the protection of economic value of assets. Every asset has normally an expected lifetime. During this period it is expected to perform and provide income/comfort to the owner. The owner being aware of this plans the things in such a way that by the time the expected lifetime of the asset expires he is ready with the funds required for its replacement. In this way he ensures that the value or income from the asset is not lost. Well, this appears to be a fine arrangement provided the asset completes its expected lifetime. All assets carry the risk of beingdestroyed or dam aged. But all assets may not necessarily get destroyed or damaged. Only in a few instances, the probability turns out to be true and the asset gets actually lost or destroyed by accident or some other unfortunate event before the completion of its expected life time. The owner and those deriving benefits from the asset will suffer because the arrangement to make available its substitute is not yet ready. Insurance is helpful in mitigating such adverse consequences. To sum, assets are insured as they are likely to be lost or made non functional through an accidental occurrence.

Item Type: Article
Uncontrolled Keywords: Insurance, Organization
Subjects: Departments at MU > Commerce
Depositing User: MIM User
Date Deposited: 01 Jul 2014 06:11
Last Modified: 26 Nov 2014 06:48
URI: http://eprints.manipal.edu/id/eprint/139994

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