Insurance. Premium. Examples of Demographic Factors Considered in Premium calculation Life Insurance - Age Car Insurance – Gender Employee Insurance – Number of dependents How can insurance premiums be reduced? Reduce your risk Choose an excess Waiting Periods. Claims.
Large number of people
To the people who claim because of death, accident or any other incident covered by Insurance
Consider a home buildings policy which provides cover against Fire, Theft and Flood. What features of the building would be relevant to the insurance company and why?
Most non-life policies are divided into sections comprising:
The recital clause, in which the names of the parties are given.
The operative clauses, otherwise termed the insuring clauses, in which the scope of the cover is clearly defined and any exceptions set out.
The attestation clause or signature clause, where the insurers alone (by one of their officials)sign the document.
The schedule in which, for property insurance, the description of the property is set out; and
The condition to which the insurance is subject.