Frequently Asked Questions on E-Learning

1. What is e-Learning?

E-Learning is online, or web-based learning; it is tailor-made solution for learning and education.

1. How is online training different from classroom training?
   

   Conventional contact classes require travelling and spending 15 to 20 days at the institute for training. In online training, you will be provided with a "user id " and "password" for logging in to the portal. You can visit the portal at the time most convenient to you.

2. Do I need any special software training?
   

   Basic knowledge of computers including the use of keyboard and mouse is all that is necessary.

3. Is there any specific location for training?
   

   You can take up training from anywhere in India. All you need is a computer with Internet facility.

Frequently Asked Questions on the Course

1. How do I start studying?

The period starts when you receive the comformation from us getting user name and password after enrollment. The course can be accesses as many time as wished but within the access time period. The maximum time allowed for study online is 8 hour a day. The password to the course invalidates at the end of the period.

Frequently Asked Questions on Life Insurance

Life Insurance is a contract between the person who takes an insurance policy and an insurance company. The contract provides for payment of a sum of money to the life assured or to his nominee on the happening of an event. The event may be either death or the person surviving a specified age.
A family is generally dependent for all its economic needs on the regular income brought by the breadwinner of the family. The uncertainty of deaths inherent in human life. As long as the breadwinner lives and the income is received steadily, that family is secure; but his sudden death leaves the family in a very difficult situation and sometimes in stark poverty. It is this uncertainty i.e. the risk, which gives rise to the necessity for some form of financial protection-loss arising from death. Insurance substitutes this uncertainty by certainty and also that of living to old age without visible means of support.

The person on whose life risk is covered by an individual life insurance policy is called life assured.

It could be-

Financial security for the family

Provision for old age

Children's education.

Redemption of loans

Tax saving

Does one need life insurance?

Yes, if other people are dependent on a person and will suffer financially if he dies, then he needs life insurance. Life insurance is a necessity for anybody who has dependent children.
Who can buy life insurance?
A person who has attained majority (over 18 years of age) and is eligible to enter into a valid contract can buy an insurance policy for himself and on those in whom he has insurable interest.

What is the period within which a policy can be revived?

There is no such restriction, but it is not in policyholders' interest to revive a lapsed policy after 5 years on account of heavy sum that he will have to pay on revival for the arrears of premiums and the interest thereon.

It depends upon the individual human life value which is a measure of the actual future earnings or service of an individual i.e. it is the capitalized value of an individual's net future earnings after subtracting the self-maintenance cost. The rough rule is: 15 to 20 times of your annual income depending on remaining working life OR 20% of annual income as premium.
What are the basic life insurance plans?

Whole Life Assurance Plans: These are low cost insurance plans where the sum assured is payable on the death of the insured.

Term Assurance Plans: The sum assured is payable only on the death of the life assured during the term.

Endowment Assurance Plans: The sum assured under these plans is payable on the date of maturity of the policy or on the death of the life assured, if earlier.

Pension Plans: The plans provide for immediate or deferred pension for life to the purchaser.

Frequently Asked Questions on General Insurance
What is Insurance?

Insurance is a mechanism by which the losses suffered by a few are spread over many, exposed to similar risks. Insurance is a protection against financial loss arising on the happening of an unexpected event. Insurance companies collect premiums to provide for this protection. A loss is paid out of the premiums collected from the insuring public and the insurance companies act as trustees to the amount collected.

Insurance is a hedge against the occurrence of unforeseen incidents. Insurance products help you in not only mitigating risks but also helps you by providing a financial cushion against adverse financial burdens suffered.

Insurance business is divided into four classes:
1) Life Insurance 2) Fire Insurance 3) Marine Insurance and 4) Miscellaneous Insurance. Life Insurers transact life insurance business; General Insurers transact the rest. No insurance company can transact both Life and General insurance business as per law in India.

All insurance covers other than Life are called General Insurance. Fire, Marine, Motor, Health, Burglary, Personal Accident, Household, Shopkeeper Insurance and Engineering Insurance are examples of General Insurance coverage.

Accidents... illness... fire... financial securities are the things that one would worry about any time. General Insurance provides the much-needed protection against such unforeseen events. General Insurance is not meant to offer returns but is a protection against contingencies. Some types of insurance like Motor Insurance and Public Liability Insurance are compulsory under the law in India.

It is important to have adequate amount of coverage for each insurance policy. For any asset or property insurance, the value of the asset based on market value or reinstatement value should be taken into consideration before deciding sum insured. If the sum insured is not adequate, the percentage representing the uncovered portion of the asset is to be borne by the insured.

Almost everything that has a financial value in a person's life and has a probability of getting lost, stolen or damaged, can be covered through insurance. Property (both movable and immovable), vehicle, cash, household goods, health, dishonesty and also liability towards others can be covered.

The owner of the property has a legal right to obtain insurance on the property if he is likely to suffer any financial loss. When the property is lost/damaged, only person having legal right in the property can ask for claim under insurance Only person having insurable interest in the property can get the property insured.

Premium is the price payable by the proposer for purchasing the insurance products.

Mediclaim Policy provides reimbursement of hospitalization expenses for illness/disease suffered or accidental injury sustained during the term of the policy

Some of the major general insurance companies in India are:

Agriculture Insurance Co. of India Ltd.

Apollo DKV Insurance Company Limited.

Bajaj Allianz General Insurance Co. Ltd.

Export Credit Guarantee Corporation Ltd.

HDFC-Chubb General Insurance Co. Ltd.

ICICI Lombard General Insurance Co Ltd.

National Insurance Co. Ltd.

Reliance General Insurance Co. Ltd.

Royal Sundaram Alliance Insurance Co Ltd.

Star Health and Allied Insurance Company Limited

Tata AIG General Insurance Co. Ltd.

The New India Assurance Co. Ltd.

The Oriental Insurance Co. Ltd.

United India Insurance Co Ltd.