Insurance

Written by yash

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Today, We would discuss everything about insurance, Like what is Insurance, its type advantage and many more.

What is Insurance?

Insurance is like agreement between two parties Insurer and Insured, Insurer provides financial coverage for the losses of the insured in emergency situation, like Insurance Policy can Protect from Large Medical Expenses, Vehicle Damage, etc

IMPORTANCE OF INSURANCE

  1. Life Insurance coverage of a certain amount of money if Insured Person dies during the terms of policy.
  2. Health Insurance covers all Medical expenses
  3. Car/Bike Insurance covers up all Vehicles Damages due to in accident, theft & in other cases

Types of Insurances

Life Insurance

Life Insurance is a Insurance Plan for life where Insurance Institutions Insures life of a person, If a insured Person dies during the terms of Insurance and it fulfils all the  terms & conditions of Insurance Policy, then whole Insured amount can be claimed by his/her family Members/Guardians

Health Insurance

Health Insurance is a Insurance Plan for health where Insurance Institutions Insures good health of a person and provide coverage of all medical expenses if a Person suffers from diseases.

Motor Insurance

Motor Insurance is a Insurance plan for Motor Vehicles which helps to Protect Motor Owners from large financial Losses that occurs due to damage or theft of vehicle.

Property Insurance

Property Insurance is a Insurance plan for Property which helps to Protect Property (house, Buildings, flats) from fire & Damages, it Protects from financial Losses that may occurs in any critical situations.

Travel Insurance

Travel Insurance covers all losses related to travel Like Medical Expenses, Lost Luggage & trip cancellation expenses etc.

Some companies which Provides best Insurance Plans like

Life Insurance of India,

United India Insurance

Bajaj Alliance

Tata AIG Insurance Co.

Conclusions

Insurance is best way to handle all financial losses in any critical situations, There are many types of Insurance Policies for every needs and in future there would be much more types of Insurance Policies as requirements.

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