Some of the important Insurance Terms

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What is Term life insurance or term assurance?

Term life insurance also known as term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions. If the life insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.

What is a term life insurance policy?

A policy with a set duration limit on the coverage period. Once the policy is expired, it is up to the policy owner to decide whether to renew the term life insurance policy or to let the coverage end. This type of insurance policy contrasts with permanent life insurance, in which duration extends until the policy owner reaches 100 years of age (i.e. death).

What is Credit life insurance? 

Credit life insurance - This is a special type of coverage usually designed to pay off a loan or charge account balance if the policyholder dies. Some lenders or sellers may require credit life insurance before they will approve a loan. If credit life is required, the lender or seller cannot require the policyholder to purchase it from them or a particular insurance company. If the policyholder has an existing life policy, the creditor has to accept an assignment of benefits under their existing policy instead of requiring them to purchase a credit life policy. Credit life insurance premium rates for loans of 10 years or less are regulated by TDI, but premium rates for loans that are more than 10 years old are unregulated.

What is Group Term Life insurance

Group Term Life insurance is a foundation of insurance protection for employees and their families. It provides protection for a specific period of time and pays a benefit only if the insured dies during the term. There is no cash value buildup in a term life insurance policy.

What is Universal life insurance?

Universal life insurance - The key characteristic of universal life insurance is flexibility. Within limits, a policyholder can choose the amount of insurance and the premium they want to pay. The policy will stay in force as long as the policy value is sufficient to pay the costs and expenses of the policy. The policy value is "interest-sensitive," which means that it varies in accordance with the general financial climate. Lowering the death benefit and raising the premium will increase the growth rate of your policy. The opposite also is true. Raising the death benefit and lowering the premium will slow the growth of your policy. If insufficient premiums are paid, the policy could lapse without value before the maturity date is reached. (The maturity date is the time your policy ceases and cash surrender value would be payable if the policyholder is still living.) Therefore, it is the policyholder's responsibility to consistently pay a premium that is high enough to ensure that the policy´s value will be adequate to pay the monthly cost of the policy. The company is required to send an annual report and also to notify the policyholder if they are in danger of losing their policy due to insufficient value.

RSMT invites articles for Aatmbodh the journal

RAJARSHI SCHOOL OF MANAGEMENT AND TECHNOLOGY

AATMBODH THE JOURNAL OF KNOWLEDGE OF SELF (ISSN: 0972-1398)

Rajarshi School of Management & Technology is a leading technology institute offering under-graduate and post-graduate programmes in Computer Application and Management. Globally there is a turning towards India for guidance with the realization that a clinically scientific approach even when softened by application of human psychology, falls short of developing fully rounded human beings. Ancient Indian education methodologies nurtured each individual holistically simultaneously addressing aspects that can be measured, those that can be surmised, and intangibles that exist beyond the measurable. RSMT approach reflects this tradition, constantly striving for goals that surpass the predictable and logically achievable. This approach guarantees fruition of the highest potential of each student and faculty member. Ideally located in Varanasi, the City of Light, which for millennia has been the center of intellectual excellence, RSMT aims to integrate this eternal brilliance into modern Management and Technology Education.

A non-profit institution, RSMT reinvests its surplus to constantly upgrade infrastructure and 

facilities to promote an environment of learning. From the eternal flame, RSMT serves to ignite hundreds of diyas to illumine organizations around the world.

RSMT has been rated as 'A' category business school by All India Management Association (AIMA).

RSMT invites you to submit articles, research papers,book reviews, case studies, for Aatmbodh the journal 

of knowledge of self(ISSN:0972-1398), which is Bi- Annual journal, a collection of writings on 

organisation, management and work. it represents a flash of insight, perception and creativity in all 

walks of life and aims to creatively stimulate the minds of students, teachers and managers. 

Kindly note the important dates:

Aatmbodh Vol XIII No1. Spring 2016

Last date of Full Paper submission: 28th February, 2016.

Note: No Publication Fee

In case of any query, please feel free to contact.

Dr.Preeti Singh-- 8808050200

Associate Editor cum Associate Professor

Department of Management Studies

Rajarshi School of Management and Technology

UP College Campus

Varanasi(UP)India

Aatmbodh-The Journal of Knowledge of Self

ISSN 0972-1398

How to Prepare a proposal for a new journal

Preparing a proposal for a new journal involves a number of factors this article will help you to know; 'How to Prepare a proposal for a new journal'?

Preparing a proposal for a new journal

We are looking for a proposal which covers the following key areas:

• the aims and scope of the journal
• the journal's rationale (why the journal is needed)
• the envisaged editorial structure
• the journal's format/level/approach
• the journal's target audience and market potential

To elaborate, the following are the issues which you should address in putting the above together:

Editorial aims and scope

• What are the aims and scope of the journal
• Who is it for, at what intellectual level and what disciplines?
• What disciplines or sub-disciplines will be covered?

It is worth noting that a journal which is extremely diffuse in its cross-disciplinarity is usually the most difficult to make commercially viable, since it requires considerable (and therefore expensive) promotional coverage of a number of different areas. If at all possible, you should try and identify some 'core' target fields within which would be found the main audiences for the journal.

• How international will the journal be and how will this be reflected in the editorial objectives? For example, how will you ensure that you receive contributions from other countries of the world?

Again, you should note that it is generally important to us that a journal is truly international in its scope, both in terms of contributions and editorial structure. It is also a 'fact of journal life' that in most instances a journal's long term financial viability is dependent on obtaining a significant proportion of its subscriptions in America. You should address the need to appeal to the global market and any implications, for example, of possible key differences, approaches and interests in the field(s) covered between the continents.

• What intentions, if any, do you have regarding foreign-language contributions? We would encourage you, for a range of practical reasons, to consider certainly initially, limiting contributions to the English language. If you wish to translate articles, you need to consider a) who would undertake translation and b) how will decisions be reached on articles in languages not known by the Editors?

Rationale for the journal

• Why is the journal needed?
• What is the background to the proposal in terms of the current and future development of the field?
• How will the journal relate to relevant existing journals in the world and what will your journal offer that these do not?
• How confident are you of not only finding an audience for the journal, but also of generating sufficient high quality contributions?

Editorial board and administration

• Who would be the journal's editors?

As the journal is to be international, we would wish to see international scholars in prominent editorial positions. There are several ways to do this. For example, you could have one or more editors based in different regions (e.g. Europe, Asia, US, Asia-Pacific etc.) or an editor based in one of these locations with a couple of Co-editors based in the others.

• Whom would you invite to be members of the editorial board?
• How do you propose to handle the administration of the journal and what role, if any, do you see the editorial board as playing in this process?

Format of the journal

Here, we would appreciate some more details of how you see the content and structure of the journal. For example:

• What will be the balance between theoretical, empirical/research based and 'practice-oriented' papers
• What will the journal feature? For example, book reviews, review essays, special thematic issues, translations of articles not yet translated into English etc.? Please include mock contents of the first two issues of the journal. These need not be real titles of actual articles but more the sort of spread of areas and authors you are planning to approach.
• How will you deal with any issues of interdisciplinarity?
• How many issues would you envisage annually (We would encourage you to think about a tri-annual/quarterly journal).

Market profile/potential

Many of the following issues will have been addressed explicitly or implicitly in the above sections but we need to have at some point in the proposal, as detailed an account as possible of the market profile and potential for the journal. For example:

• An assessment of who, and in what fields, would subscribe to the journal. 
  We would be relying heavily on individual subscribers at the beginning of the journal's life as well as institutions. Could you quantify (approximately) your sense of the size of the overall market in terms of numbers of potential individual subscribers?
• Would the market be easy to reach? For example, which associations/societies would the readership belong to? Which major international conferences would they attend?
• What relatedly, is the estimated potential institutional base of the journal?

We need to see the journal move from a primarily individual to a strongly institutional subscriber base. Thus:

• Where is the work in this area being done, at what sort of institutions?
• What is the geographical spread of the work, in terms of different countries and thus the international spread of potential institutional subscribers? In particular, what is the state of the field in the USA and Europe?
• Is there currently and/or will there be, a teaching as well as a research base for this work to solidify the library demand?

  

Timing

• When would you see the first issue of the journal being published?

In case it is an existing journal

• Please do let us have the following information, in addition to the ones supplied above:
• since when the journal is being published
• the existing market
• current subscription structure
• current number of subscriptions (please provide the geographical break-up)
• current editorial board
• reasons behind offering us this journal.
• If the journal is registered with Registrar of Newspapers in India (RNI). In case yes please let us have the registration number.

Thank you!