WHAT IS INSURANCE?
Insurance is a means of PROTECTING yourself and your family from the problems that can occur due any event.It is a form of risk management against the risk of a contingent or uncertain loss.
An entity which provides insurance is understood as an insurer. A person or entity who buys insurance is understood as an insured. The insurance transaction involves the insured assuming a guaranteed and known – relatively small – loss within the type of payment to the insurer in exchange for the insurer’s promise to compensate the insured within the event of a covered loss. The loss may or won't be financial, but it must be reducible to financial terms, and typically involves something during which the insured has an interest established by ownership, possession, or pre-existing relationship.
The insured receives a contract, called the policy , which details the conditions and circumstances under which the insurer will compensate the insured. The amount of cash charged by the insurer to the policyholder for the coverage set forth within the policy is named the premium. If the insured experiences a loss which is potentially covered by the policy , the insured submits a claim to the insurer for processing by a adjuster . The insurer may hedge its own risk by removing reinsurance, whereby another insurance firm agrees to hold a number of the risks, especially if the first insurer deems the risk too large for it to carry.
TYPES OF INSURANCE?
Almost every item that have some price are often insured nowadays.some of the measure sorts of insurances are:-
1.life insurance
2 Medical insurance
3.Car insurance
4.Two wheeler insurance
5.Business insurance ,etc.
BENEFITS OF INSURANCE ARE:-
Though getting an insurance is the best step that a person can take to protect his/her family.Some of the major benefits are here:-
1) By getting life insurance you protect the future of your family in case of any uncertainties that can happen to you . Life insurance policy can not cover the loss of a life but it makes sure that your family don’t face any financial issues .The amount depends on the policy you opted .
2)By getting medical insurance you PROTECT YOURSELF from the HUGE AMOUNT of hospital bills.Medical insurance policy pays your medical expenses if you are hospitalized.
3) Auto insurance PROTECTS YOU from uncertain losses that can occur due to ACCIDENTS. Some auto insurance pays for loss to BOTH PARTIES INVOLVED IN AN ACCIDENT.
WHY INSURANCE?
In this pandemic period having an health and life insurance became very important.Families which are not insured nowadays are facing many problems in this pandemic period.So getting an insurance is very important these days ,every family should get themselves insured and most importantly the families with only one earning member should prepare themselves by getting the earning member insured.
INSURANCE CAN PROTECT YOU IN MANY DIFFERENT WAYS
You’ve worked hard to create a solid financial footing for you and your family, so you would like to make certain that everything is protected. Accidents and disasters can and do happen, and if you aren’t adequately insured, it could leave you in bankruptcy . You need insurance to guard your life, your ability to earn income, and to stay a roof over your head. As you evaluate the potential gaps in your coverage , consider which policies you'll want to incorporate your short- and long-term budget .
TYPES OF INSURANCE YOU NEED
You can insure almost everything that have some monetary value .Some types of insurance that every family should have are those which protects your family against the uncertainties .
- insurance to hide medical costs for yourself and your family
-Life insurance can provide financial assistance to your family in case of any mishappening.
-Homeowner’s or renter’s insurance insures your home and valuable possessions
-Auto insurance to protect your vehicle
-Getting your Business insured is another important type which protects from any uncertainties that can happen at your workplace like your shop or factory etc.
HOW TO GET INSURANCE IN PANDEMIC PERIOD?
Getting an insurance online is extremely easy with the assistance of mobile, laptops and computers .But the foremost important a part of purchasing an insurance online is ensuring that the company isn't fraud .Many websites are their which give online insurance,some of them are:-
1.Policybazar.com
2.HDFC ERGO
3.Bajaj Allianz etc..
Now the question is,
To check wether the company can be trusted or not you should:-
1) firstly check the feedbacks of the customers.
2) Do watch some youtube vedios regarding the company.
3) call the corporate on the numbers given on site to see the services.
4) if possible contact an individual who already purchased the insurance from that company.
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