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Saturday, April 11, 2009

This is a complete list upon insurance companies over the world:

1 21 ST CENTURY INSURANCE USA
2 ACE Bermuda
3 Aegon Netherlands
4 Aflac United States
5 Aioi Insurance Japan
6 Allianz Worldwide Germany
7 Allmerica Financial United States
8 Allstate United States
9 Ambac Financial Group United States
10 American Finl Group United States
11 American Intl Group United States
12 American Natl Ins United States
13 AmerUs Group United States
14 AMP Australia
15 Aon United States
16 Arch Capital Group Bermuda
17 Assurant United States
18 Aviva United Kingdom
19 AXA Group France
20 Axis Capital Holdings Bermuda
21 Bbloise Group Switzerland
22 Berkshire Hathaway United States
23 Britannic Group United Kingdom
24 Cathay Financial Taiwan
25 Cattolica Assicurazioni Italy
26 China Life Insurance China
27 Chubb United States
28 Cincinnati Financial United States
29 CNP Assurances France
30 Conseco United States
31 Converium Holding Switzerland
32 Corporation Mapfre Spain
33 Endurance Specialty Bermuda
34 Erie Indemnity United States
35 Euler Hermes France
36 Everest Re Group Bermuda
37 Fairfax Financial Canada
38 Fidelity National Finl United States
39 First American United States
40 Fondiaria-SAI Italy
41 Friends Provident United Kingdom
42 Fuji Fire & Marine Japan
43 Generali Group Italy
44 Hannover Re Germany
45 Hartford Finl Service United States
46 Helvetia Patria Switzerland
47 HHG United Kingdom
48 Industrial Alliance Insurance and Finl Canada
49 Insurance Australia Group Australia
50 Irish Life & Permanent Ireland
51 Jefferson-Pilot United States
52 Legal & General Group United Kingdom
53 Lincoln National United States
54 Loews United States
55 Manulife Financial Canada
56 Markel United States
57 Marsh & McLennan United States
58 MBIA United States
59 Mediolanum Italy
60 Mercury General United States
61 MetLife United States
62 MGIC Investment United States
63 Millea Holdings Japan
64 Mitsui Sumitomo Ins Japan
65 Munich Re Germany
66 Nationwide Financial United States
67 Nipponkoa Insurance Japan
68 Nissay Dowa General Ins Japan
69 N├╝rnberger Beteiligungs Germany
70 Old Republic Intl United States
71 PartnerRe Bermuda
72 Phoenix Cos United States
73 PICC Property & Casualty China
74 Ping An Insurance Group China
75 PMI Group United States
76 Progressive United States
77 Protective Life United States
78 Prudential United Kingdom
79 Prudential Financial United States
80 QBE Insurance Group Australia
81 Radian Group United States
82 RenaissanceRe Holdings Bermuda
83 Royal & Sun Alliance United Kingdom
84 Safeco United States
85 Sampo Finland
86 Samsung Fire & Marine South Korea
87 Sanlam South Africa
88 Scor France
89 Shin Kong Financial Taiwan
90 Skandia Insurance Sweden
91 Sompo Japan Insurance Japan
92 St Paul Travelers Cos United States
93 StanCorp Financial United States
94 Storebrand Norway
95 Sun Life Financial Canada
96 Swiss Life Holding Switzerland
97 Swiss Re Group Switzerland
98 T&D Holdings Japan
99 Torchmark United States
100 Unipol Italy
101 Uniqa Austria
102 Unitrin United States
103 UnumProvident United States
104 White Mountains Ins Bermuda
105 Wiener Stadtische Austria
106 Willis Group Holdings United Kingdom
107 WR Berkley United States
108 XL Capital Bermuda
109 Zurich Financial Services Switzerland

Wednesday, April 8, 2009

Define a life insurance polocy. describe different types of life insurance policies.?

First of all, lets discuss what "insurance" means. Insurance is the transfer of risk of financial loss from an individual to a company which, for consideration, assumes that risk for a stated period of time against a stated peril(s) up to a stated amount. In other words, insurance is where the policyowner trade for a small loss (the premiums) for the insurance company's promise to pay for a large, unknown loss. All the policyowners lose a little, but no one has to take the risk of losing everything. All insurance policies are contracts, which means nothing more than an agreement between two or more individuals or parties.

If you ask yourself, what is your greatest asset? Without much thought, you would say that it is your bank, your car, or your house. If you answer anything besides "yourself," your answer is wrong. Your earning ability is your greatest asset. Your ability to go to work and bring home a paycheck is your greatest asset. But you can't go on with life without being exposed to risk. In insurance, risk is defined as "uncertainty of financial loss." You have to live with the risk that you (or your spouse or partner) could lose the ability to bring home a paycheck. This is where life insurance comes into play.

What is life insurance? Life insurance is a contract under which the insurance company agrees to pay a stated amount to a beneficiary upon death of the insured. If something were to happen to you tomorrow, how would your family live? Would their life style change for the worse, be the same, or be better? In most cases, your family would be worser off because the flow of income from you has stopped. Your spouse may need to sell the home, use your kid's college funds to pay off bills, and so on. Without adequate protection, your family will not be able to maintain the same life style that they are currently in.

Life insurance can't protect you from dying, but it can protect your income. Financial experts say you should have coverage of 8-12 times of your annual gross income. If you earn $40,000/year, then you would need coverage of around $400,000. The question is: Do you have life insurance and if you do, do you have adequate coverage on yourself?

If you are single, you are probably wondering why you need life insurance. For most singles, they really don't need life insurance. There's no one really dependent on his/her income. He/she has no financial obligations that will be passed on to other family members (unless the debt is a joint account such as a mortgage or credit cards). But there are some reasons why a person who is single may need life insurance. He or she may want to leave money to their loved ones such as parents, brothers or sisters. He or she don't want to pay higher premiums in the future. He or she don't want to be un-insurable because of the possibility of declining health. In any case, a person being single has to determine whether he or she needs life insurance.

There are two main types of life insurance you should know about. One type of life insurance builds savings, which is called "cash value life insurance." The other type is known as pure insurance because its just insurance without any savings. This is called "term insurance." It is important to know that all life insurance policies are term insurance because all policies expires at a certain age (usually at age 100).

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WHAT IS INSURANCE?

Insurance is a precaution against a possible unwanted outcome: in life and in business, it's a way of managing risk and keeping things on the move.

We use insurance to protect against the possibility of loss, usually financial. When we buy insurance, we transfer our risk to someone else in exchange for a payment or premium. Then, if we suffer a loss, insurance puts us back into a position pre-claim (reinstatement).

And if you think about it, nothing happens without insurance! We couldn't run businesses or drive cars, own homes or travel anywhere without it, because the potential risks would be too great. Insurance gives us the peace of mind and security we need to operate.

It works because insurance companies group together a large number of people who all feel exposed to the same possible circumstances. The company knows that, in any one year, the total premium collected from the group of people should cover the cost of the claims made by the unfortunate few who actually suffer a loss.