A Study on Jibon Bima
1. Introduction
1.1 Background of the Study
This report has been prepared as a requirement of the Financial Institution and Markets course. The report was based upon the insurance business of “Jiban Bima Corporation” in Bangladesh. We were duly approved by our Course Teacher Sheikh Tanzila Deepty. This report will help us know about the insurance business in Bangladesh.
Insurance is a system of spreading the risk of one to the shoulders of many. It can be defined as a co-operative device to spread the loss caused by a particular risk over a number of persons who are exposed to it and who agree to ensure themselves against that risk. It is a contract whereby the insurers, on receipt of a consideration known as premium, agree to indemnify the insured against losses arising out of certain specified unforeseen contingencies or perils insured against. It can play an important role in a country’s economy. It is an old form of financial practice of sharing risk, which was introduced in this area in mid-18th century.
1.2 Objectives of the study
The research objectives regarding our term paper are –
▪ To fulfil the requirement of the course curriculum. ▪ To know about insurance business in Bangladesh. ▪ To identify the major prospective area of insurance in Bangladesh as follows o Social o Economical ▪ To identify what are the sources of fund. ▪ To know investment and income from investment. ▪ To find out utilizes of fund.
1.3 Rationale of the study ▪ The preparation of the report will enable to gather concept of the insurance business. ▪ We have learned what the products of insurance company are. ▪ To suggest necessary steps to develop this business in a developing country like Bangladesh.
The term paper will enhance our overall knowledge about insurance and help us further to prepare any documents regarding insurance. We think this term paper will also be beneficial for those people who need
1.1 Background of the Study
This report has been prepared as a requirement of the Financial Institution and Markets course. The report was based upon the insurance business of “Jiban Bima Corporation” in Bangladesh. We were duly approved by our Course Teacher Sheikh Tanzila Deepty. This report will help us know about the insurance business in Bangladesh.
Insurance is a system of spreading the risk of one to the shoulders of many. It can be defined as a co-operative device to spread the loss caused by a particular risk over a number of persons who are exposed to it and who agree to ensure themselves against that risk. It is a contract whereby the insurers, on receipt of a consideration known as premium, agree to indemnify the insured against losses arising out of certain specified unforeseen contingencies or perils insured against. It can play an important role in a country’s economy. It is an old form of financial practice of sharing risk, which was introduced in this area in mid-18th century.
1.2 Objectives of the study
The research objectives regarding our term paper are –
▪ To fulfil the requirement of the course curriculum. ▪ To know about insurance business in Bangladesh. ▪ To identify the major prospective area of insurance in Bangladesh as follows o Social o Economical ▪ To identify what are the sources of fund. ▪ To know investment and income from investment. ▪ To find out utilizes of fund.
1.3 Rationale of the study ▪ The preparation of the report will enable to gather concept of the insurance business. ▪ We have learned what the products of insurance company are. ▪ To suggest necessary steps to develop this business in a developing country like Bangladesh.
The term paper will enhance our overall knowledge about insurance and help us further to prepare any documents regarding insurance. We think this term paper will also be beneficial for those people who need