KHABHI KHUSHI

KHABHI GUM
KABHI KHUSHI KABHI GUM
We pray to God for
Prosperity/Happiness
Peace of Mind
So that we may have a
‘Good Time’

We wish each other

‘A Good Day’
How ever, life is not always
full of Happiness.
It is full of Happiness
As well as
Sorrow/Sadness
God gives us
Some times Happiness &
Sometimes Sadness
 God gives us
Some times Khushi
& some times Gum
God gives us
KABHI KHUSHI
KABI GUM
 We get Khushi
We have Certanity
Events as per expectations
Get Good News
Then, we feel happy
Encouraged
Motivated
 Become active
Have positive attitude
Optimist
Get peace of mind
Feel happy
Delighted
 Result is
We gain some thing
And try to continue to gain in future
Gain may be
Direct gain
As well as
Indirect gain
 Direct Gain
May be
Monetary Gain
Monetary Gain
Results in
Profit / Income
Indirect Gain
Is
Notional gain
Mat be
Good feelings
Emmotions
Hapiness
Pleasure
 Goodwill
Satishfaction
Enjoy Good Health
Help in Ageing
Can not measured
In terms of money
 We make efforts
To continue to gain
For Prosperity
Peace of mind
Happiness
 We seek
Financial
Security
Protection
Against any
Uncertanity
Unforeseen Event
 We use
Management Techniques
For managing the
Uncertanity
Unforeseen Events
By bringing some discipline
in individual’s life
Family / Business
 We practice
RISK MANAGEMENT
In our Life
Conciously / Unconciously
Knowingly / Unknowingly
OR
 Transfer the risk
To some one
By Financing the Risks
(Risk Financing)
Or
Using Alternatives
Of Risk Financing
 Buying Insurance
or Arranging
Self Insurance
GUM
SORROW
UNCERTANITY
UNEXPECTED EVENTS
 Bad News
Feelings are hurt
Discouraged
Attitudes becomes
Negative
Passimist
No Gain
Incurs/Suffers
Financial Loss
 Indirect Loss
Feelings are hurt
Sorrow
Sadness
Not insurable
To stop the loss
Also Practice
 RISK MANAGEMENT
RISK TRANSFER
INSURANCE
IN PROSPERITY
AS WELL AS SORROW
IN KHUSHI AS WELL AS GUM
WE TAKE CARE OF
FORTUTIOUS EVENTS
 We manage the risks
in both the situations
And if we are not able to manage
We transfer the risks to some one else
By risk financing/buying insurance
However, all the risks
can not be transferred
 All business risks
Trade risks
Risks hidden in the trade
Not necessarily transferred
Or insured
Only Pure Risks
Can be transferred
Insured for survival
Survival Plan is Insurance
Insurance Products
May be treated
As Financial Products
It involves
Two elements
 Transfer or
Shifting of risks
From one individual to a group
And
Sharing losses of a ‘Equitable Basis’
By all members of the group
 Insurance
Is a
Financial Arrangement
That re-distributes
The costs of
Unexpected losses
Among the members
Of Insurance Pool
 In Legal Terms
Insurance is a
Contractual Agreement
Whereby One Party
Agrees
For a Consideration
Called Premium
To Compensate Another Party
LOSSES