Question

Hi

type of long insurance?
viability & relevancy of insurance product sold?
different between uninsurance & insurable risk?
how taxation & legislation impact positively?

Thanks

Answer 1

Hello friend
______________________________________________________________\

1) Long Term Insurance. ... In general, long term insurance usually refers to products such as life insurance, personal accident insurance, retirement annuities and endowment policies.

2) The viability and relevancy of insurance products sold to businesses and individuals by Old Mutual Is that they help businesses in the long run to maintain stability.
The insurance product is a form of expense that is paid by businesses and individuals to act as a safety net that save their financial problems if unusual things happen to them (such as accidents or natural disaster)
Insurarable risk- are the types of risk in which the insures provide for or a against because it is possible to collect and estimate the probable future loss e.g automobile insurance,marine insurance

3) uninsurable-are types of risk that the insurer is not ready to take out of risk that the insurer is not ready to take out insurance against any simple because the likely future losses can b estimated and calculated, risk cannot be measured e.g gambling and speculation

4) Taxation and legislation have a positive and negative impact on the Hollard. For example as a result of the changes in legislation regarding the taxation of income protection policies, from March premiums will no longer be tax deductible, but benefit payments will be tax free. It also means that the clients may be unnecessarily over-insured and no longer receive tax relief on their premiums.
___________________________________________________________

Hope it helped u