What Is Insurance And Why It Is Important ?

The Contract Of Insurance Work On The "Principle Of Transfer Of Financial Risk From The Insured To The Insurer". As An Insured, You Pay Premiums To Receive Compensation From The Insurer, In Case Of Occurrence Of An Unforeseen Event. So, Having Insurance Reduces The Financial Burden On Your Shoulders.

Why Do We Need Insurance ?

Insurance Is A Mechanism For Protecting People Against Losses, Damage, Injuries and Costs Associated With Unforeseen Events. Both Businesses And Individuals Buy Insurance To Protect Themselves Against The Uncertainties That Cause Financial As Well As Personal Loss.

Types Of Insurance ?

Life Insurance :-

Term Policy :- Pure Risk Cover

Unit Linked Insurance Plan { ULIP } :- Insurance + Investment Opportunity.

Endowment Policy :- Insurance + Savings.

Money Back Policy :- Periodic Returns With Insurance Cover.

Whole Life Policy :- Life Coverage To The Life Assured For His/Her Whole Life.

Child Policy :- For Fulfilling Your Child's Life Goal Like Education Marriage etc.

Retirement Policy :- Plan Your Retirement And Retire Gracefully.

General Insurance :-

Health Insurance :- Health Insurance For Individual / Family / Parents / Critical Ilness

Motor Insurance :- Two Wheeler / Four Wheeler / Heavy Vehicle Insurance.

Travel Insurance :- Individual / Family / Student / Senior Citizen.Travelling Abroad For Vacation Or Studies.

Home Insurance :- Home Insurance Against Fire, Theft etc..

Accident Insurance :- Covers Death Due To Accident, Disability & Monthly Compensation.

Finance Guru