ABOUT INSURANCE
Insurance refers to a mutual agreement or a policy that an individual purchases from an insurance company by paying premiums to the insurance company. The insurance company, in lieu of the premiums paid, protects the buyer or the policyholder from any kind of loss or risk that may occur in the future. It is basically a kind of risk management scheme by using which the insured person can get protection against possible eventualities such as loss, sickness, death ,damage or theft to his/her belongings etc.
Given that life is full of uncertainties, it’s really important you purchase insurance as early as possible to protect you and your family against all odds. Having an insurance plan not only keeps you protected, it also provides you with mental peace.
TYPES OF INSURANCE
Life Insurance A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured’s death.
Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time at lower premiums . It’s important to note that death benefits from all types of life insurance are generally income tax-free.
Health Insurance gives you protection you against the medical costs incurred in hospitalization due to illness or accident, nursing care, surgeries, consultation, diagnostic tests, ambulance service, hospital accommodation, medical bills etc. To avail these benefits , you need to purchase a health insurance policy by paying a certain amount of premium to your insurance provider periodically. The insurance provider will take the complete responsibility of protecting you against the cost involved in medical treatment. Certain health insurance policies also pay for regular medical checkups.
Car insurance : Car Insurance is designed to save the owner of a vehicle from the financial liability that is set to occur when his/her cherished vehicle meets with an unfortunate accident or is deemed lost. Accidents come in different forms- both natural and man-made, comprehensive protection against both these unforeseen instances is possible only by having a car.insurance policy
Home insurance – Home Insurance policies provide you round the clock protection against financial liabilities arising from damage incurred by your house and/or its contents, a good home insurance policy is the cautious home owner’s best friend
Travel Insurance :Offering complete protection against such instances as loss of baggage, passport and trip cancellation to major medical issues and unforeseen risks while traveling abroad, a comprehensive travel insurance policy is a must for every wanderlust traveler.
Personal Accident Insurance :An accident can occur anywhere, at your workstation, at road or even at home and resulted in death or injury to you. Due to this, you or your beloved family may face financial crisis. Due to the uncertainty of accidents, Personal Accident Insurance policy with extensive benefits will help you ease your financial burden just in case one occurs. This insurance will provide cover against death and disablement (Permanent/Partial/Temporary) from accidental bodily injury.
Group Health Insurance A group health insurance plan is a health insurance plan that provides coverage to members of a group that tends to be employees of a company or members of an organization. Members of the group usually receive insurance at a reduced cost because the insurer’s risk is spread across a group of policyholders. Group Health Insurance policy can be used to insure all your employees as well as their families against unforeseen medical expenses,allowing you the flexibility to choose covers as per your needs.