Customer Perception: Lic Life Insurance Corporation.
Life Insurance: Meaning, Advantages and Disadvantages. Category: Blog On July 17, 2016 By InfiniteKnowledge. Meaning. Life insurance is the protection of a family against loss of income in case of the death of the person insured. The policy is bought from an insurance company which will pay a fixed sum of money either at the expiry of a fixed tenure or to compensate the family on the death of.
A corporation can be a beneficiary of a life insurance policy. This generally allows the corporation to pay the premiums for that policy and collect proceeds upon the death of the covered person. In most cases, the premiums are not deductible but they can still be financed by corporate dollars, which is better than using after-tax personal dollars. Once the insurance proceeds are received.
Life Insurance came to India from England in the year 1818 in its modern form. The first Insurance company was Oriental Life Insurance Company started by. read full (Essay Sample) for free.
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Because the life insurance policy is structured via a discretionary trust, the payments by the company do not attract a benefit in kind income tax and National Insurance Contributions (NICs) charge. Furthermore, the premiums are considered by HMRC to be a legitimate business expense and therefore qualify for a corporation tax deduction.
Insurance companies collect premium against life and non-life policies. Insurance company shows bias to the insured as it does not compensate all types of losses. An insured person should compulsorily pay the amount of premium in time as stated in the agreement in order to avoid fine and lapse of an insurance policy.
The market share of private life insurance including Nile insurance company is very low when we compare them with non private insurance company such as Ethiopian Insurance Corporation due to it is early establishment, where as private insurance companies are in their infant stage. According to some document and research papers, the researcher have looked the following factors with may.