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Bank of Baroda Recruitment for FLC Counsellors Posts 2021 (Banaskantha)

Bank of Baroda has published an Advertisement for the below-mentioned Posts. Eligible Candidates advised to refer to the official advertisement and apply for this post. You can find other details like age limit, educational qualification, selection process, application fee, and how to apply are given below. Keep checking NJ View regularly to get the latest updates.






Bank of Baroda Recruitment 2021


Job Details:
Posts: FLC Counsellors

Total No. of Posts: 01

Educational Qualification
  • i) A graduate degree from recognized University. Preference will be given to having post graduate degree in the area of Agriculture, Veterinary Science, Sociology, Psychology and Social work. ii) Should be well conversant with the local language. iii) Should possess flair for teaching and computer knowledge. Candidates for the post of FLCC counsellor may be selected from open market. Counselors should have sound knowledge of banking, insurance, investment, pension, law, finance, requisite communication and team building skills etc
  • i) Shall be an ex-banker with minimum 5 years of experience in any Nationalized Bank/ RRB/ Pvt. Bank. OR Persons having minimum 5 years of experience in banking/ with related fields, NBFCs / FIs. OR Business correspondent / BC- Coordinator with minimum 5 years of experience OR Ex RSETI Director/Faculty with minimum 5 years of Experience
Age Limit
  • Maximum age at the time of appointment on contract should not be more than 64 years subject to good health.
Resident : Should be resident of respective state preferably from the same district
For FLC of Gujarat -Resident of Gujarat, preferably from same district i.e. Banaskantha

Selection Process: 
  • Candidates will be selected based on an interview.

How to Apply ?: 
  • Duly filled and Signed Application with enclosure of Education Qualification and other relevant Document sent in Hard copy only will be considered valid. Please sent the application on below mention address with title on envelope stating as “APPLICATION FOR THE POST OF FINANCIAL LITERACY COUNSELLOR ON CONTRACTUAL BASIS” Address for Application to be sent: The Regional Manager Bank of Baroda Banaskantha Regional office 3 rd Floor Rudra Arcade, Deesa Highway Road Near Aroma Circle Palanpur- 385001
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Job Notification: Click Here


Last Date
12-04-2021


What Is Insurance?
Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make payments more affordable for the insured.

Insurance policies are used to hedge against the risk of financial losses, both big and small, that may result from damage to the insured or her property, or from liability for damage or injury caused to a third party.

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Insurance

How Insurance Works
There is a multitude of different types of insurance policies available, and virtually any individual or business can find an insurance company willing to insure them—for a price. The most common types of personal insurance policies are auto, health, homeowners, and life. Most individuals in the United States have at least one of these types of insurance, and car insurance is required by law.

KEY TAKEAWAYS
Insurance is a contract (policy) in which an insurer indemnifies another against losses from specific contingencies or perils. 
There many types of insurance policies. Life, health, homeowners, and auto are the most common forms of insurance.
The core components that make up most insurance policies are the deductible, policy limit, and premium.
Businesses require special types of insurance policies that insure against specific types of risks faced by a particular business. For example, a fast-food restaurant needs a policy that covers damage or injury that occurs as a result of cooking with a deep fryer. An auto dealer is not subject to this type of risk but does require coverage for damage or injury that could occur during test drives.


 In order to select the best policy for you or your family, it is important to pay attention to the three critical components of most insurance policies—the deductible, premium, and policy limit
There are also insurance policies available for very specific needs, such as kidnap and ransom (K&R), medical malpractice, and professional liability insurance, also known as errors and omissions insurance.


Insurance Policy Components
When choosing a policy, it is important to understand how insurance works.

A firm understanding of these concepts goes a long way in helping you choose the policy that best suits your needs. For instance, whole life insurance may or may not be the right type of life insurance for you. There are three components of any type of insurance (premium, policy limit, and deductible) that are crucial.

Premium
A policy's premium is its price, typically expressed as a monthly cost. The premium is determined by the insurer based on your or your business's risk profile, which may include creditworthiness.

For example, if you own several expensive automobiles and have a history of reckless driving, you will likely pay more for an auto policy than someone with a single mid-range sedan and a perfect driving record. However, different insurers may charge different premiums for similar policies. So finding the price that is right for you requires some legwork.

Policy Limit
The policy limit is the maximum amount an insurer will pay under a policy for a covered loss. Maximums may be set per period (e.g., annual or policy term), per loss or injury, or over the life of the policy, also known as the lifetime maximum.

Typically, higher limits carry higher premiums. For a general life insurance policy, the maximum amount the insurer will pay is referred to as the face value, which is the amount paid to a beneficiary upon the death of the insured.

Deductible
The deductible is a specific amount the policy-holder must pay out-of-pocket before the insurer pays a claim. Deductibles serve as deterrents to large volumes of small and insignificant claims.

Deductibles can apply per-policy or per-claim depending on the insurer and the type of policy. Policies with very high deductibles are typically less expensive because the high out-of-pocket expense generally results in fewer small claims.

Special Considerations
With regard to health insurance, people who have chronic health issues or need regular medical attention should look for policies with lower deductibles.

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