What is Insurance: Benefits and types

Life Insurance, Health Insurance, Motor Insurance, Travelling insurance Property insurance.

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 Insurance 

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Insurance is a means of protection from financial loss.

it is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.

A person aur entity whi insurance is known as a policyholder, while a person or entity covered under the policy is called an insured.

Policy holder and insured are aften used as but are not necessarily synonyms, as coverage can sometimes extend to

additional insureds who did not buy the insurance.

The loss may or may  not be financial, but it must be reducible to financial terms. 

The insured receives a contract, called the insurance policy, which details the canditions and circumstances under which the insurer will compensate the insured, or their designated beneficial or assignee.


If the insurance experiences a lass which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster.


Types of insurance

1. Life Insurance

Life insurance is a type of insurance policy in the which the insurance company undertakes that task of insuring the life of the policyholder for a premium that is paid on a daily, monthly, yearly.


Life insurance policy is regarded as a protection against the uncertainties of life. If may be defined as a contract between the insurer and insured in which the insurer agrees to pay the insured is sum of money in the case of cessation of life of the individual or after the end of the policy term.



Health insurance

Health insurance can be obtained throat your employer the federal health insurance marketplace or private insurance you bye for yourself and your family by contacting health insurance companies directly or going through a health insurance agent.


About 9.2 percentage of American population where without insurance coverage in 2021 the centres for disease control reported in it National center for health statistics.

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Types of health Insurance

There are eight mein type of health insurance policies available in India. They are. 


  • Individual health Insurance

These are health health care plans that offer medical cover to just on policy holder.



Motor Insurance

Insurance refers to policy that offer financial assistant in the event of accidents involving your car or bike, motor insurance can be availed categories of motorised vehicles, including.


  • Car insurance

Car insurance personally owned four-wheeler vehicle are covered under such a policy.


Benefits of motor insurance policies

Car and bikes are increasingly more expensive with each passing day. At such a time, staying without proper insurance can  lead to savere monetary loses for the owner. Listed below are some advantages of purchasing such a plan.


Travelling insurance

Insurance when taking about the different type of insurance policies one must not forget to learn more about travel insurance plans.

When therefore when compared to other insurance policies travel insurance is a short term cover.

Depending on the provider you choose, travel insurance may offer financial aid at various times, such as during loss of baggage, trip cancellation and much more.


Benefits of traveling Insurance.

Following aspects are coveraged under travel insurance plans:


  • Cover fight delay

Cover fight delay - fight delay aur cancellation can lead to significant losses for the passenger. If you buy travel insurance you can climb such financial loss from the insure.


Property insurance

Any Buildings or immovable structure can be insured through property insurance plans. This can be either your residence or commercial space.

If any damage befalls such a property, you can claim financial assistance from the insurance provider.

Keep in mind that such a plan also financially safeguards the content inside the property.


  • Property insurance 

Here are some type of property insurance policy available in India.


  • Home insurance 

Home insurance - with sach a policy you remand free from all financial liabilities that may aries from damage to your home or contents inside due to fires, burglaries, storms, earthquakes, explosions and other events.


  • Shop insurance
Shop insurance if you a one a shop which acts as a source of income for you, it is integral to protect yourself from financial liability arising from the same.


  • Building insurance 

Building insurance if you awn a complete building, opting for home may not be sufficient. instead can purchase building insurance to cover the entire premises.


  • Office Insurance

Another type of property insurance policy office insurance that the office building and all the equipment inside are significantly protected in the event of unforeseen events.


Benefits of properties insurance

If you still think that property cover is not one of the type of insurance plans you need to avail take a look at some of the advantage from the same.


  • Protection against fire 

Protection against fire - while the insurance policy cannot prevent fires, it can prevent financial the liabilities from such an event.


  • Natural calamities 

Natural calamities the plan also offer financial ad against damages edition from earthquake, stones and more.



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