Insurance is a form of risk management used to protect the insured against the risk of a loss . It is defined as the equitable transfer of the risk of a loss from one entity to another in exchange for a premium . There are different kinds of insurance for just about every conceivable event . The most common insurance is probably life insurance , which provides a monetary benefit to a decedent's family or other designated beneficiary .
It can cover funeral or burial costs and can be paid out to the beneficiary in either a lump sum or as an annuity . Property insurance is one of the more necessary insurances as property is extremely expensive and if it is lost or damaged for some reason ( fire , earthquake , flood ) it can be very difficult to replace without adequate reimbursement . Travel insurance used to be seen as an unnecessary expense and is still viewed as such by many . Its importance is , however , being increasingly recognised by the public at large . It is cover taken by those who travel abroad and covers certain unforeseen events such as medical expenses , loss of personal belongings , travel delays etc. There are numerous other types of insurance , too many to mention , all vital if you want to protect something of particular importance to you or another .
In the world of finance there are many sub categories , also too numerous to mention but a few will be included here . Forex , or the foreign exchange market wherever one currency is traded for another . It includes trading between banks , speculators , institutions , corporations , governments , and other financial markets . The average daily trade in the global forex is over US $ 3 trillion .
Tax consulting usually involves CPAS and tax lawyers in addressing any tax issues that you may have . There may also be Professional Strategic Tax Planners and Enrolled Agents , depending on the company that you hire . They will help you reduce your tax debt , eliminate tax penalties , an innocent spouse claim , tax liens , bank levies , and preparing unfilled tax returns , as well as any other tax resolution problem that you might have .
Property investment is usually when an investor buys property with an eye to generate profit and not to occupy it . It is an asset that has been purchased and held for future appreciation , income or portfolio purposes . In some instances an investment property does not have to be held for profit , as some landlords in New York lease office buildings to non - profit organisations for tax purposes . Homeowners consider their homes to be investments but they aren't classified as investment properties . Perhaps if you're buying your second or third home , it can be considered an investment property , especially if you plan to rent it out to help pay off the home loan .
Business networking is a marketing method , which is as old as business itself . It's been around since ever since people learned to hold a glass of whiskey and schmooze . In fact , its probably been around a lot longer , Cro - Magnon man probably gathered around the newly discovered fire and showed each other their collection of animal teeth and traded them . Creating networks of crocodile teeth owners and sabre toothed tiger owners , who tried a take over bid against the sabre toothed leopard owners . Business networking is designed to create business opportunities through social networks . It helps if the people involved are of the same frame of mind .
These days a very handy way of business networking is via the Internet on the various social media available . But it must be said that very little can beat the intimacy and trust created by face - to - face relationships . Also , where would our businessmen be without their whiskeys and weekly