Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or compensation against losses from an insurance company. An entity that provides insurance is known as an insurer or insurance company. A person who buys insurance is known as an insured or as a policyholder.
Insurance policies are used to guard against the risk of financial losses, both big and small, that may result from damage to the insured or her property or liability for damage or injury caused to a third party. The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the policy buyer has an insurable interest established by ownership, possession, or pre-existing relationship.
Health insurance is a policy that protects the policy-holder against the medical costs that arise due to an accident, illness, or the diagnosis of any serious disease. Today, several companies offer health insurance plans to their customer’s treatment at network hospitals, tax benefits, etc
Insurance plans are of the utmost importance when it comes to dealing with serious losses such as death or critical illnesses. These are the events in an individual's life, where any kind of insurance proves to be most beneficial. Insurance plans provide financial assistance and support to the family during difficult times. Mishaps and misfortunes do not come with any prior notice or warning. A person’s life can get affected for the worse just in seconds. To overcome those mishaps and unwanted activities that can adverse our life one should get his life insured. Life insurance policies provide security to a person’s life.
Life insurance is a contract between an insured and a life insurance company, where the insurance company pays a huge amount of money after a certain period or upon the death of the insured in exchange for the premium.
Motor insurance is a legal agreement between you and the insurance provider company wherein you promise to pay a certain amount of premium (amount) to get coverage for your vehicle in case of theft, loss, accident, third-party injury, etc. As per the Motor Vehicles Act 2017, vehicles should have valid third-party insurance. Motor insurance is mandatory for all the two-wheelers and four-wheelers vehicles such as cars, bikes,scooters, trucks that are moving on the roads in India. Having motor insurance secures you to travel safely on-road and it provides you coverage against all the unwanted accidents that may happen with you in the future. Hence, it is mandatory to get motor insurance done to secure your vehicles.