Finance: The Great Depression of 2009
- 24 Mar
- Published Date
- Written by Kuch Bhi
- Hits: 897
Introduction to finance Finance can be defined as anything and everything related to monetary matters. It is the science of management of money. It deals with businesses, cash, stocks, shares, debentures, non-liquid assets, funding; almost anything that comes to your mind when you think of money and property. Investments, credits, loans; all fall within the expanse of the word. It is the major factor which decides the power and position of a nation globally; and it is the most dynamic one too.
The Beginning
But never before has the finance world seen a greater turmoil and lesser stagnation than today. There was a similar depression in the year 1929, which stretched for around 10 years in various countries, and caused major economic downturns everywhere in the world. However, the economic problems today are greater in expanse and magnitude.
How Insurance Works
- 06 Mar
- Published Date
- Written by Kuch Bhi
- Hits: 954
Life is full of unexpected happenings. Any unwanted incident may take place at anytime which anyone may be unaware of. So people are always in search of peace of mind to keep themselves away from the tensions of risks in life. It’s the need of this mental relaxation that gave birth to the term insurance.
Insurance: It’s Need
Life is full of risks, which may at home, at work or in our autos. Some risks are minimal and can be overcome, but most are not. This is where insurance comes into effect.
Insurance does not protect us from the risks but covers or compensates the consequences of the happening. Insurance companies have always surveyed the statistical picture and come up with a plan that'll give people peace of mind.
Classification of Risks
- 12 Feb
- Published Date
- Written by Kuch Bhi
- Hits: 5710
Risks are classified in various ways. One classified is based on the extent of the damage likely to be caused. Critical or Catastrophic risks are those which may lead to the bankruptcy of the owner. It would happen if the loss is total, like in a tsunami, wiping out everything. It can also happen if the deceased person was heavily in debt. Important risks may not spell doom, but may upset family or business finances badly, requiring a lot of time to cover. The adverse effects of an economic recession are one such. Less damaging are unimportant risks, like temporary illness or accidents.
