General And Health Insurance We’ve heard a lot from people’s mouths. Let me take a house, a flat, vacant land, and gold for investment purposes. No doubt, we still talk about everything. But nowadays one word is spoken too much, and that is insurance. Whether you do something or not, take insurance for sure.
Now what is insurance today we will know about that. Insurance means protection from impending danger. That is, the option to cover the risk related to your life and property is insurance. But why should one get insurance? how does insurance work? how many types of insurance are there? it is also important to know. So that you can choose the right insurance according to your needs
What are General And Health Insurance
Insurance is a legal agreement between two parties. The insurance company and the insured. According to this agreement when a person gets his insurance policy done. The insurance company compensates for the financial losses that occur.
After knowing what is insurance, now let us know how insurance works. Under the insurance agreement, a fixed amount is charged by the insurance companies from the insured person, which is called the premium. In the same way, the insured person gets compensation under the pre-decided condition in case of damage to the house property vehicle which has been insured.
How Many Types of General And Health Insurance
So now it is also important to know how many types of insurance are there. Mainly there are two types of insurance: life insurance and general insurance but nowadays many types of insurance have become famous, let’s know about all of them.
- Life insurance
- General Insurance
- Home Insurance
- Health Insurance
- Car Insurance
- Crop Insurance
- Business Liability Insurance
- Travel Insurance
What Are Life Insurance And Its Benefits
By its name itself, you come to know that this insurance insures the life of the Insured Person. That is, if the person who gets this insurance done dies, then the insurance company gives compensation to his family. The importance increases when the head of the household dies.
He should be the one who takes care of the financial security of the family. In such a situation, the family gets financial support in the absence of that person, in such a situation, that person must get this insurance done. That’s why life insurance must be done, even if you are not there, your family should feel financially secure.
What Are General Insurance And Its Benefits
Home, Vehicle, Health, Animal, and other insurance come under this category. Home Insurance The advantage of getting home insurance is that if there is any damage to your house in the future, then the insurance company compensates for it.
It covers damages caused by natural calamities like fire flood earthquake apart from this, insurance security is also given for disasters like strikes, riots, theft, and terrorism.
What Is Health Insurance And Its Benefits
Nowadays the health problem has increased more or should we say that people have become more concerned about their health than before. That’s why the expenditure on health has also increased in such a situation, if you take any health insurance, then the insurance company covers all the expenses incurred on the treatment.
How much coverage the insurance company gives in treatment depends on the policy terms of your insurance. It is important to note here that the benefit of this policy will be available only to those hospitals which are associated with this policy. Apart from this, there is also some such insurance secure policy that gives security to your entire family, you should give priority to such a policy.
What Is Car Insurance And Its Benefits
In our country, it is compulsory to get the insurance of the vehicle done, there is a penalty for not getting it done. Under this insurance policy, the insurance company compensates for the damage caused to your vehicle, whether it is a car, two-wheeler, or three-wheeler.
If your vehicle has caused injury or unintentional death to an unknown person, Such cases are covered by the insurance company in the form of third-party insurance.
What Is Crop and Business Liability Insurance
Crop Insurance For such farmers who take agricultural loans, it becomes very important for them to take crop insurance. In this insurance, the loss due to any reason to the crop is compensated by the insurance company.
Business Liability Insurance This insurance compensates for the loss caused to the consumer by any work or any product of the company That is, if a consumer is harmed by any work of the company or any product, then the entire responsibility of the fine and the expenses incurred in the legal action is with the insurance company, which gives it business liability insurance.
What is Travel Insurance
Nowadays, travel insurance is also very popular, this insurance protects against losses during travel. If a person goes somewhere in connection with work or for the purpose of roaming and there he gets hurt or there is a situation like theft, then the insurance company compensates for the loss in it. Apart from this, travel insurance is available for all small and big trips made in the country.