In safety philosophy the word 'loss' has many meanings.Loss includes injury, illness, disease or death to a person.Loss includes damage to property, equipment, material, cost of replacement or damage to environment.Loss also occurs in terms of time, money, material, production, sales etc.Loss of time occurs in filling of accident forms and their reporting, record keeping,investigation of causes, searching for controls, traveling for medical and legal help,hospitalization, Govt. offices, rehabilitation and restoration of public image.Accident may cause any type of loss. Such losses are considered in-counting the costs of accident.
Loss control is defined as a management system designed to reduce or eliminate all aspects of accidental losses that lead to wastage of company assets. In this context the company assets involved are manpower, materials, machinery, methods,manufactured goods and money. Thus a system of loss control is designed to improve the overall profitability of a company by reducing both the economic and social costs associated with loss producing activities. Legal, humanitarian (social) and economic aspects are included herein
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During my today’s work on the research on insurance, found the insurance is not only the investment it even the security of your invested money as well. And for a long term really fruitful for us. And when we talk about the life insurance it is security of the whole family. So the beast option which I found for my family is a California term life insurance policy .And hopefully it will really fruitful for every one in my family.
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