I have planned to start an institute

I have more than 12 years of experience as an insurance agent. To be honest with you I love this job because my passion is to serve the society and help people. Recently I have planned to start an institute for people interested in insurance agent courses. The good thing is that I have decided to start it for free, so people could learn about insurance for free of cost.

ADVANTAGES OF LIFE INSURANCE

Life insurance has no competition from any other business. Many people think that life insurance is an investment or a means of saving. This not a correct perfect view. Insurance is only way to safe guard against the unpredictable risk of future. It is unavoidable. The term of life is hard. The term of insurance is easy. The value of human life is far faster than the value of the property. Only insurance can preserve it Life insurance is a way of life.

ROLE OF INSURANCE IN ECONOMIC DEVELOPMENT

For economic development, investments are necessary. Investments are made out of savings. An insurance company is a major instrument of the mobilization of savings people, particularly from the middle and low income groups. These savings are channeled into investments for economic growth. The insurance act has strict provisions to ensure that the insurance funds are invested in safe avenues, like government bonds, companies with record of profits and so on.

THE BUSINESS OF INSURANCE

The business of insurance is one of sharing. It spreads losses of an individual over the group of individuals who are exposed to similar risks. People who suffer loss get relief because at least part of their loss is made good. People who do not suffer loss are relieved because they were spared the loss.
Insurance companies are called insures. The business of insurance is to
a. Bring together persons with common insurance interests ( sharing the same risks ) ,
b. Collect the share or contribution (called premium )from all of them , and
c. Pay out compensations (called claims) to those who suffer from the risks.