What Is Cooperative Insurance And Marketing Society For?
Answer:
Cooperative insurance:
The cooperative insurance society was founded for the pooling of economic risk of its members. The cooperative society may steal group insurance policy for its members. It may bargain with nouns insurance company for lower premium. The cooperative insurance society can also be organized for issuing policies of small amount.
The cooperative insurance has not proved successful because:
1. The distribution of the pool of the society is not adequate to pay the claims of the member who suffer risk.
2. Funds are not wisely invested.
3. The claims are not made promptly.
Cooperative marketing society:
The cooperative marketing is of three types:
The consumer's cooperative
The agricultural marketing cooperative
The agricultural purchasing cooperative
1- The consumer cooperative is established to provide goods at the wholesale price to the members and to do away with the profit earned by a chain of middleman between consumers and producers.
2- The agricultural marketing cooperative is operated open market the grain, dairy products, fruits; vegetables at the highest possible price and this strengthen the bargaining power of the member. The society also provides financial assistance to the members and helps them in shooting up the quality of the products. So that they can have a better lifestyle.
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