The Department of Commerce-Banking and Insurance organized a Guest Lecture on insurance planning for B.Com II Year students. Mr. Ajay, an alumnus (2021-24 batch), delivered the lecture. He educated participants on the importance of insurance in personal financial planning. The session aimed at enhancing the understanding of insurance products, their role in risk management, and the crucial part they play in securing both personal and family finances. Totally, 46 students from II B.Com B&I got benefitted.
Outcome of the Program
- Students can learn about life insurance policies (term, whole life, and endowment) and health insurance policies, including critical illness, hospitalization, and family floater plans.
- Students will learn that insurance is a critical component of a holistic financial plan.
- The lecture could help demystify insurance jargon and clarify terms like premium, sum assured, deductibles, policy exclusions, and riders. This empowers the audience to make informed decisions when selecting policies.
- The session could cover how insurance can play a key role in planning for retirement and leaving behind a legacy for loved ones. Policies like pension plans or life insurance with investment benefits can help individuals prepare financially for the future.