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Insurance

 

About  Insurance :

·       Insurance is a legal agreement between two parties i.e. the insurance company (insurer) and the individual (insured). Insurance is the most effective risk management tool which can protect individuals and businesses from financial risks arising out of various contingencies. The emotional and psychological loss can never be compensated, but at least the financial loss can be compensated with insurance. In simple words, insurance is a risk transfer mechanism, where you transfer your risk to the insurance company and get the cover for financial loss that you may face due to unforeseen events. And the amount that you pay for this arrangement is called premium.




There are various types of insurance products available in India. Mainly, insurance products are classified as:

·         Life insurance products - Life insurance covers you against the risk of death. Life insurance policies such as term plans, endowment plans, whole life insurance plans, money back plans etc.

·         General insurance products - General insurance come in various types covering a wide range of risks such as health insurance, motor insurance, marine insurance, liability insurance, travel insurance and commercial insurance etc.

Benefits and  importance of insurance :

·         Insurance provides protection against various uncertainties that can put you or your family in financial crisis.

·         Health insurance gives you a sense of security that you do not need to shell out all your savings in the event of medical emergencies.

·         Insurance is like tools which act as  risk transfer mechanism i.e. promotes risk control activity.

·         Protection for you and your family & Reduce stress during difficult times

·         Insurance also give  benefits for Tax Savings schemas (some of products).

 Must know before you purchase any Insurance product:

·         Purpose of cover

·         Risks that you want to be covered against

·         How long you might need the coverage

·         Affordability

·         Faithfully Company’s Agents/Brokers/Intermediators ,mostly prefer try to Govt.

 

Note: If you have needs  purchase/Help/Advise  any Insurance policy like Health ,Motor Any General Insurance product you can feel free to contract whats up no. by 6206764523.

IRDA UIICL Certified Agent.

M. Sinha.

Thanks.

 

 

 

 

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