প্রশ্নটিতে Insurance Policy এর সমস্যা ও সম্ভাবনা নিয়ে ৫০০ শব্দের মধ্যে একটি রচনা লিখতে বলা হয়েছে। পরীক্ষার হলে লেখার সুবিধার জন্য এখানে আমরা ৫০০ শব্দের বেশি প্রয়োগ করে রচনাটি সমৃদ্ধ করেছি।

Insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer. This contract determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.

In a developing country like Bangladesh, insurance companies are playing a very important role in the economy. Though insurance industry has very prospect in the economy but for some reasons it's totally failed to achieve its goal. If we want to know the reasons behind this then we should look forward the following according to Bangladesh General Insurance Company Ltd. In this report the major problems in performing insurance business has been classified into some major criteria which are social, economic, political, legal and other reasons. The actual problems are discussed in detail within these criterions.

There are many types of insurance, such as life insurance, fire insurance, motor insurance, health & accident insurance, marine insurance etc. Now, challenges and prospects of ensuring the insurance policy for all in Bangladesh is given below:

Challenges of ensuring insurance policy in Bangladesh:
Social Challenge:

A vast majority of people especially in rural areas are left outside the insurance coverage. This mainly results from the unawareness among the people. Even a large portion of people don't have the minimum idea of insurance. People are not aware of the benefits from the insurance policy and a great number of people believe that insurance business is nothing but cheating and assume that insurance policy is quite unnecessary. This negative attitude from the people is lessening the importance of absorbing insurance policy in a large extent.

Economic Challenge:
Bangladesh is one of the poorest countries in the world and most of the people in this country live under extreme poverty level. All of these people fight hard to earn their livelihood and are marginal in relation to the expenditure with the income. It is quite impossible for them to save some money for future need. Therefore they are quite unable to give the amount to the insurer which is called as premium and regarded as safety or precautionary measures against any accident. The number of people who can bear the premium to the insurance company is very few in regard to those mentioned above. Therefore the overall poor economic condition is creating obstacle to flourish the insurance business in Bangladesh.

Higher expenditure of business:
Growing cost of business is another problem that insurance companies are facing now a day. They urge that government tax, house rent, utility, commission fee, stationeries are growing day by day. But their businesses are not growing so fast with that rate. Besides this the policy holders are not willing to pay too much premium with growing cost that is hampering the strategies of insurance companies. So they are facing difficulties in running their business efficiently.

Prospects of ensuring insurance policy in Bangladesh:
As well as the challenge mentioned above, there are many good signs for the insurance business in Bangladesh. The factors that can facilitate the insurance business in our country are discussed below. These facts can be measured as the prospective fields for insurance business in Bangladesh.

Higher Growth of GDP:
The GDP of our country is increasing than the previous years which results in increase of per capital income. So this growing GDP and income holds bright prospects for insurance companies. The major problem is the incapability of our people to pay the premium charged by the insurance companies. With the growth in the income, more and more people are now willing to take an insurance policy for safeguarding themselves from any danger.

Increased population:
There is a big opportunity lies ahead for the insurance companies as the population of our country are increasing day by day. Although most of people of our country live under extreme poverty level and want to avoid insurance policy number of potential policy holders in Bangladesh is growing with growth of the population. There is some what relationship between growing populations with the number of public vehicle. As we know all public vehicle must have an insurance policy. So growing population also increase the motor insurance too. That is growth in population opens greater scope for every kind of insurance business that results in growing prospect for insurance companies.

New business's individual insurance
There are so many new businesses starting every day and manufacturing sector is booming with global demand. Every business is insured under an insurance company to protect its company from any kind of accident. Therefore growing industry, mill, factories are creating better scope for the insurance companies to flourish their business.