Introduction to Insurance

This tutorial can help you know about what insurance is all about.


https://www.youtube.com/watch?v=yK8Iy1_ryQo

Introduction to Insurance

Happy Learning!!

This tutorial can help you know about what insurance is all about.

The concept of probability applied in insurance actuarials

We all know that probability in the measure of likelihood of an event happening or not happening. It is a concept that we use in day to day activities whenever we use our predictions and judgement.The concept is important in calculating the mortality table for life insurance purposes.

https://www.youtube.com/watch?v=TcaSV4uqg0A&index=11&list=PLs7ffEMvVtT1l7dDR3kI03WgRJahLYpej

https://www.youtube.com/watch?v=HRcl3bVtj34&index=12&list=PLs7ffEMvVtT1l7dDR3kI03WgRJahLYpej

Redemption of Loans

Loans can be redeemed or paid back in three ways:

1) The entire lump sum amount of interest and principal can be repaid at the end of the loan period.

2) The interest on loan can be paid back at the end of each year and the principal can be paid back at the end of the term of the loan.

3) The interest and the principal can both be repaid monthly which is also popularly known as equated monthly installments.

The concept of redemption or repayment of loans has been explained vividly in this video presented by Mr J Kulkarni on behalf of the Insurance Institute of India.

https://www.youtube.com/watch?v=aXzDctYv49M&list=PLs7ffEMvVtT1l7dDR3kI03WgRJahLYpej&index=8