CBSE Class 11 Business Studies Types Of Insurance Worksheet

Read and download free pdf of CBSE Class 11 Business Studies Types Of Insurance Worksheet. Students and teachers of Class 11 Business Studies can get free printable Worksheets for Class 11 Business Studies in PDF format prepared as per the latest syllabus and examination pattern in your schools. Standard 11 students should practice questions and answers given here for Business Studies in Grade 11 which will help them to improve your knowledge of all important chapters and its topics. Students should also download free pdf of Class 11 Business Studies Worksheets prepared by school teachers as per the latest NCERT, CBSE, KVS books and syllabus issued this academic year and solve important problems provided here with solutions on daily basis to get more score in school exams and tests

Types Of Insurance Class 11 Business Studies Worksheet Pdf

Class 11 Business Studies students should refer to the following printable worksheet in Pdf for Types Of Insurance in standard 11. This test paper with questions and answers for Grade 11 Business Studies will be very useful for exams and help you to score good marks

Class 11 Business Studies Worksheet for Types Of Insurance

CBSE Class 11 Business Studies - Types of Insurance

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There are three types of Insurance:-

LIFE INSURANCE:-A life insurance policy is basically a protection against the uncertainity of life that is death. It is a contract in which the insuranc company undertakes to insure the life of a person in exchange of a sum of money called premium and promises to pay a certain sum or money either on the death of the assured or on expiry of certain period.

Importance of Life Insurance:- It provides protection to the family a premature death of an individual.

It gives adequate amount at an old age when earning capacilites are reduced.

Life insurance is not only a protection but is a sort of investment because a certain sum is returnable to the assured at the time of death or at the expiry of a certain period.

Life insurance contract is not a contract of indemnity.The life of a human being cannot be compensated and only a specified sum of money is paid.

Types of life insurance policies:-

1. Whole Life Policy:-The amount payable will not be paid before the death of the assured.The Policy money then becomes payable only to his/her beneficiaries or legal heirs.

2. Endowment Life Assurance Policy:-The insurance company undertakes to pay the policy money when the assured attains a particular age or on his death,whichever is earlier.

3. Joint Life Policy:This policy is taken up by two or more persons like two partners and the premium is jointly in instalments or lump sum.

4. Annuity Policy:- This policy is taken by those who prefer a regular income after a certain age.Under this policy, premium is paid lump sum or in instalments by the assured.

5. Childern’s Endowment Policy:- This policy is taken by a peron for his/her children to meet their higher education or marriage expenses.The insurance company pays the policy money when the children attain a particular age.

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