Insurance = Collective bearing of risk

Insurance = Paying for other’s mistake

Insurance = Taking from ‘A’ to pay ‘B’

Insurance = Paying for something which will never happen

It is an arrangement whereby the branches of a bank sell / distribute insurance products of an insurance company.

It is a new product developed/ launched by the banks in which the risks of the high value customers are covered for any losses to their property and/or lives through an insurance cover.

It is a new product launched by some banks by which they are providing insurance cover to exporters/ importers for the losses, if any due to high fluctuations in the exchange rates of dollars and other major currencies.

This is the date on which the policy was sold to the customer/person insured

This is the date on which the policy holder will have to submit his/her claim seeking the amount of the policy. Otherwise the company will not make any payment to him/her

This is the date on which the contract between the person and insurance company will come to an end

The date on which the insurance company makes the final payment to the insured person which is normally fifteen days after the “payment due date”.

NFCG

IRDAI

CII

FICCI

24%

36%

30%

49%