Life safety# Security# Family Future Safety# Vehicle security# Health Benefits

 Hi friends ,

I Want to discuss few things about importance of Insurance in our Life.
Sudden incidence, Health related risk, Life related risk, Home safety and many more, we are facing in day to day Life, so insurance plays the biggest part in it.

As we have to purchase any policy on very basic amount related to any thing it could be Health, Life, Vehicle or home, some of us are feeling it's just waste of money, some of us are thinking it's good to invest instead of taking risk of life by our own or may be others.

Insurance is a legal agreement between two parties i.e. the insurance company (insurer) and the individual (insured). In this, the insurance company promises to make good the losses of the insured on happening of the insured contingency.

It is the event which causes a loss, it can be permanent disability or death of the policyholder, damage or destruction of the property. It’s called a contingency because there’s an uncertainty regarding happening of the event. The insured pays a premium in return for the promise made by the insurer.

 

Different types of Insurance:

Endowment Plans and Term Plans

As we all know about different types of Insurance companies and policies, only few People are taking Term Plan to secure their family future, but people must need this awareness about the protection of their family. Many of us are thinking why to buy term plans its just waste of money but its nothing like that term plans are having its different types, let see n discuss about Endowment  plans which is providing life long protection also and lump sum return also, People can invest their money in this plan because you have to pay EMI  only for 5-7 years after that till the of maturity of policy no need to pay EMI, you will get life protection/cover with covering your illness also and lump sum return also, It will applicable without death and death ( accidental or natural) both the condition. 

I will not say that Plane Term plan is not good, into another manner Term Plans are the best to secure your life and family because in this plan company is covering you and your family in case of critical illness disease condition also, into death condition in any manner it could be natural or accidental or illness. In this plan people will not get return after completion of policy but this protection only provided by the Term plan only not in any other plan.  In this plan if the insurer get dead in the duration of policy within 5 years of time, your EMI will wave off  and company will the left amount ,you will get this benefit only into term plan. 

Life Insurance 

The Most important benefit of Insurance is payment of losses, Insurance Policy is a shield to protect your family, Its  indemnify individuals and organizations for covered losses.  If you  will buy life insurance to make sure your dependents are financially secured in the event of your untimely demise. Life insurance is very important, if your family is heavily reliant on your income. Under life insurance, the policyholder’s family is financially compensated in case the policyholder expires or permanently disable during the term of the policy.

There are more plans and policies comes under life insurance some of them are market linked plans, some are money back and some of them covers whole life 👇

 

Vehicle( Car/ Two wheeler/ Commercial Vehicles) Insurance

In today's scenario every person need their own vehicle insurance. This insurance protects you and your vehicle against any untoward incident like accidents. Some policies also compensate for damages to your vehicle during natural calamities like floods or earthquakes. It also covers third-party liability where you have to pay damages to other vehicle owners. 

In case of car replacing or stolen of car the insurance would pay the expense of buying a replacement car. Every policy has an IDV (Insured Declared Value) which is the amount that the insurer will pay in case of total loss or theft. A car insurance not only covers the damages caused to the car, property, or the person involved, but it also covers the legal fees if a case is filed in court. Be it you who has filed the case or someone has filed it against you; it helps you cover all the legal expenses like hiring a lawyer, filing a case, etc.

Health Insurance

Health Insurance is covering medical costs for expensive treatments. Different types of health insurance policies are available, It can be related to illness, hospitalization, It cover an array of diseases and ailments. You can buy a generic health insurance policy as well as policies for specific and critical diseases or illness it could be transplant, surgery, joint replacement etc.

The biggest part of health Insurance is to do ceaseless treatment in authorized hospitals.

Home insurance

We all dreaming of owning our own homes. Home insurance can help with covering loss or damage caused to your home due to accidents like fire and other natural calamities or perils. Home insurance covers other instances like lightning, earthquakes etc.

Travel Insurance 

Travel Insurance preferred by very less people, because they don't know how much Important it is?????

Whenever you are travelling in foreign countries and you are normally not well or having any medical issues, travel insurance helps to you during the trip in a foreign country can meet the heavy medical bills. Travel Insurance covers that offer to support 24/7 claims overseas could prove to be a friend who helps bridge language barriers or geographical constraints. No matter where are you; with a travel insurance policy you will be sure of the fact that there is a dedicated team to support you in case of any medical or travel-related emergency. It covers the personal liability also and travel related emergency also. 

 

So above short description was about the different types of insurance with different companies. If you guys will feel that Insurance is good in each manner or may be some of us will be on the negative side of it, kindly do reply in comments.

see you all soon with a new topic or may be with any Investment Ideas like MUTUAL FUNDS 😊

  

byeeeeeeeee!!!!!!!!!!!!!!!