Insurance

Insurance is the armor to manage your unforeseen risks. An insurance policy works for protection against unexpected monetary losses. The insurance company pays you or your defined nominee in your absence, the amount as promised in the policy. With no insurance, if any accident happens, you may be responsible for all related costs. Having the right insurance for the risks you may face can make a big difference in your life.

An insurance policy is a written contract between the policyholder (the person or company that gets the policy) and the insurer (the insurance company).

Insurance can reduce your financial risk

God forbid, if you ever damage your car while driving, with right kind of ‘auto insurance policy’, the insurance company will pay the costs of the car repairs. Now, isn’t that reassuring!!!

Common type of Insurance

Amongst various types of insurance policies, here are some common types described for your understanding the concept:

Health

After recovering from a medical emergency, hospital bills become a major concern. ‘Health Insurance Policy’ becomes an emergency saver. Depending on the health insurance policy you buy, your health insurer agrees to pay a part/all of your medical expenses.

Life

Life policy generally pays the nominated person a set amount of money in case of policy holder's demise. The money from such policy can help the bereaved person/family cover living expenses and continue with normal monetary life to a certain limit.

General

This policy takes your back in case of accident of vehicle / or damage of property from an unforeseen situation such as a fire breakout. It also ensures theft situations are covered. The insurance company pays the full cost for vehicle repairs and medical expenses etc. in such cases.