Insurance

Being a team player is getting more and more important in today’s specialized world. It is imperative that you convince your interviewers that you are and have been a good team player throughout your career. If you take part in any kind of team sports, take this opportunity to tell your interviewers about it. The same should be done if you are part of a theater group or any other team for that matter.

Tell your interviewers about your positive attributes related to the job. That you are punctual, ambitious (means you can meet targets), a good team player, have good conversation skills etcetra. As far as your weaknesses are concerned, try to keep them work related. In fact, it is a good idea to point out a couple of weaknesses that the interviewer might see as strengths, saying something like, “I am a perfectionist” or “I don’t rest till I have completed a job I started”, are good weaknesses.

The risks that are covered by life insurance are:

☛ Premature death

☛ Income during retirement

☛ Illness

Life insurance is an insurance coverage that pays out a certain amount of money to the insured or their specified beneficiaries upon a certain event such as death of the individual who is insured. This protection is also offered in a Family takaful plan, a Shariah-based approach to protecting you and your family.

All too often we hear about various types of insurance policies without really understanding what they are and more importantly, what they protect. The truth is, there are two main types of insurance, namely life insurance and general insurance which covers different aspects in your life.

An arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness or death in return for payment of a specified premium.

Assessment year is the year in which the income earned is

assessed. Previous year is the year in which income is

earned. Eg. AY 2009-10 and prev year is 2008-09

This is your interviewer’s way of knowing about two things. Firstly, he or she wants to know how dedicated you are towards your career; and also how realistic. There is a huge difference between being ambitious and over ambitious, so keep your answers practical and attainable, but they should in no way project you as a hare. Secondly, your interviewer wants to know how the company will benefit from you achieving your goals than what you’ll get from it, but it is one and the same thing, to a large extent. It is a bad idea to tell your potential employer that you plan to go for his or her job, but it is okay to mention that you’d like to earn a senior or management position.

BASIC + DA (Last Pay drawn) X 15 /26 X No.OF YEARS WORKS.

► LIVE STOCK INSURANCE

► OVERSEAS INSURANCE

► GLASS INSURANCE

► FIDELITY INSURANCE

► KEY MAN INSURANCE

The main products of life insurance include:

☛ Whole life

☛ Endowment

☛ Term

☛ Investment-linked

☛ Life annuity plan

☛ Medical and health

Death that occurs before the stage where it is accepted by society as part of the natural, expected order of life.

The coverage period for life insurance is usually more than a year. So this requires periodic premium payments, either monthly, quarterly or annually.

The risks that are covered by general insurance are:

☛ Property loss, for example, stolen car or burnt house

☛ Liability arising from damage caused by yourself to a third party

☛ Accidental death or injury

A rider is a supplement attached to the basic insurance plan such as endowment or whole life.

An insurance protection plan that covers the repayment of an outstanding property loan to the financial institution in the event of untimely death, disability or critical illness of the borrower.

General insurance is basically an insurance policy that protects you against losses and damages other than those covered by life insurance. For more comprehensive coverage, it is vital for you to know about the risks covered to ensure that you and your family are protected from unforeseen losses.

For investment-linked insurance, your premium is used to buy life insurance protection and units in a fund managed by the life insurance company. The benefits paid to you or your nominee will depend on the price of the units at the time you surrender your policy or when you pass away.

Series of payments paid to you until you pass away. Types of annuity include immediate annuity or deferred annuity.