Whole life insurance policy is a class of policy that covers the policyholder during his life time. This is in contrast to term life insurance policy that only covers the policyholder for a certain number of years. It is the commonest form of insurance policy bought by policyholders and the premiums payable are most times…
Meaning of motor bike A motor bike means a two-wheel land motor vehicle with wheels in tandem (including an attached side car) that is built primarily for use on public roads. It may also mean a three-wheel land motor vehicle built primarily for use on public roads. Although motorcycles can be added to the personal…
In Europe, every citizen is admitted in the national healthcare system. And quite a reasonable percentage of medical services are free. These free medical services are under the provision of the doctors who are under the employment of the government. In some of these European countries, there is equally an opportunity for independent insurance companies to…
Meaning Term life insurance is a class of life insurance policy which provides insurance coverage for a certain term of years. The implication of this is that the policyholder’s beneficiaries can only receive death benefits accruing to the policy if he dies within the time in the insurance policy. That is to say, if the…
MEANING OF A TRANSFORMER A Transformer is Electrical equipment built to convert alternating current from one voltage to another. It can be built to step up or step down voltages and works on the magnetic induction principle. In this article, we will discuss about insurance for transformers A transformer has no moving parts. And as…
HEALTH INSURANCE FRAUD Health insurance represents an important class of insurance policy to look out for. It helps you to pay for your health care needs s they arise. It may covers services that ranges from normal hospitals visits or doctor checks to serious illnesses. And it may also cover preventive health care services to…
INTRODUCTION Hippo insurance is an American property insurance company with its office in Palo Alto, California, USA. The main area of specialization of the company is homeowners insurance. Home owners insurance is a class of insurance coverage that offers protection to the homes as well as the possessions of the policyholders. It equally covers the liability…
INTRODUCTION Car insurance is one of the classes of insurance policies. It is the policy which covers the expenses for damages your car sustains due to accidents, or even theft. These situations can cause real financial and proprietary loss to you and damage to your car. In this article, we shall be discussing all you…
INTRODUCTON As has always been said in our various articles or literature on insurance, the main function of insurance is to make provision of protection for probable chances of loss. It is probable loss because, the time and the level of loss at every of such event is always uncertain. And as such, where one…
The Nigerian Insurance Act 2003 is the principal Insurance Law in Nigeria and it regulates insurance business in Nigeria. Section 1 of the Act makes provision for its application. The Act applies to all insurance businesses and insurers, other than insurance business carried by insurers of the following description. A friendly society. That is, an…
