Life insurance and brand equity

Type :

Term papers

Pages :

7 pages

Format :

.doc

Published date :

03/17/2009

Category :

Economics & finance

Sub category :

Finance

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Summary :

Introduction
1. Insurance
2. Need of insurance
3. Alternatives to insurance
Benefits of taking insurance
1. Encourages savings
2. Whole life policies
The Life insurance policies
1. Endowment policies
2. Money back policies
3. Annuities / Children's policies
4. Pension schemes
The history of insurance
Introduction to brands
1. Brands and branding
Brand equity
1. Understanding and evaluating brand equity
2. The benefits of brand equity
3. How to measure brand equity
4. How to estimate utilities
The value of conjoint analysis
How to use brand equity information
Conclusion

Abstract

"insurance is a contract between two parties whereby one party called insurer undertakes an exchange for a fixed sum called premiums, to pay the other party called insured a fixed amount of money on the happening of a certain event."

insurance is a protection against financial loss arising in the wake of an unexpected event. insurance companies collect premiums to provide for this protection. A loss is paid out of the premiums collected from the insuring public and the insurance companies act as trustees to the amount collected.

For example, in a life insurance policy, by paying a premium to the insurer, the family of the insured person receives a fixed compensation on the death of the insured. Similarly, in car insurance, in the event of the car meeting with an accident, the insured receives the compensation to the extent of damage.

It is a system by which the losses suffered by a few are spread over many, exposed to similar risks.

insurance is desired to safeguard oneself and one's family against possible losses on account of risks and perils. It provides financial compensation for the losses suffered due to the happening of any unforeseen events.

By taking life insurance, a person can have peace of mind and need not worry about the financial consequences in the case of untimely death. Certain insurance contracts are also made compulsory by legislation.