Although people could benefit from the two , but the only thing is that people are more concerned with what is going to make them money , so they are ready to insure property because that's where they would get more money to be able to settle their daily needs to stay alive , before thinking of life
Yes, the have shareholders too. And they want everyone to benefit from being part of them. That's why every premium plan have its own premium price. It is higher depending on the factors they think makes it expensive than other plans. And again some individuals pay higher because of their own different risk tolerance.
They don't want to end up in loss that's part of the reason they actually take enough time to calculate the premium based on the risk , there are shareholders who also purchase shares from the insurance company and they would also want to make profit from the share increase in price and get their own major benefit too , that's part of the reason they calculate it
Insurance company knows every customers risky level when choosing for policy plan. They offer benefits base on the risk level, when they feel that such person's risk of incurring damages in a particular policy they'll quickly reduced its premium benefits and increase the premium payment before being insured with the policy.
Yeah true commercial vehicles are usually posed to high damages and many other factors ,and am sure they would be paying high premium because of the kind of risk they are insuring , they would have a way to calculate it and get the real premium that the person would need to pay
The world is advanced, and not era where some persons will try to cheat and cover it and come to claim reward for it via commercial bank or Insurance company. Their is use of advanced technology that can be use to get every incident that occurred for what the insured or person claim to gave lost out of damage. Commercial cars aren't going yo receive high benefits cos their car is busy on the road, they are seen as threat to inciting accident.
Exactly if it happens naturally the insurance company would sure come to the aid and cover the losses , because they would surely find out the reason and everything that caused the damage of the car and what made it have accident too,,and commercial purpose fetches more money for the owner , so it's definitely going to be helpful when the risk is covered
Yes, provided the accident or incident occurred naturally and he or she never constituted in such act of tricking the insurance company by deploying fraudulent ways. That's the essence of insuring the car for insurance, but member that, the benefits for one using the car for commercial purposes won't be much compared to one using it personal.
I meant like the person is insuring the property for financial dividend, and the property could be a car which the person is driving to make more money , so if the person car get burnt or stolen he would not be too bothered about the whole issue
Lolz, the essence of going into insurance policy isn't cos of financial dividends. Instead to protect our lives and property with any insurance company. Cos it isn't a scheme of making money. You'll only earn when you lose something in your life either property or being unhealthy, or even losing your life in the process. Remember you'll need to pay for the premium policy service before you can be deemed eligible to earn from the policy you choose.
You aren't talking about life insurance, you're simply talking about health insurance, take note please. When it comes to health insurance policy that's when insurance company will cover all this illness you mentioned. They fall in the category of health insurance policy and not with life insurance policy. In life insurance either you receive your benefit long term or short term. It depends on your agreement with the insurance company.
You are not completely right because not only death can make the insurer compensate the relatives of the insured after death. The insured can get compensated during his or her life. This can stem from critical diseases such as cancer which may result in death.So, the insurance companies do not pay after death only but also pay for medical treatment in the event that the insured suffers from critical illness that is likely to cause death.
Do you know in life insurance especially for the "Whole life insurance company you can get your insurance stimulus package when you're no more, even if it takes 100 years for that. Life insurance is not for your own benefit, rather the benefit of your family members to make your funerals during emergency time.
