Types of Insurance? Explained Insurance Types?

Today we will talk about insurance, insurance is very work done in today’s time and helping in the future. After the tragic incident of any person, the insurance company helps them and insurance is very essential in everyone’s life.

What Is Insurance?

Insurance or insurance is such an arrangement for the future, in which any insurance company guarantees to give you compensation after any kind of loss, illness, accident or death.  In today’s crowded life, no one knows who will happen when, in such a situation, if you insure your valuable things in the right way, then it will work like a backup for you and insurance will be of great help to you when trouble comes.

By the way, there are many such insurance companies in the market, which sell insurance and all of them have a different specialty in their insurance plan, but you should take a policy carefully when you find it right according to your needs and later you will face some kind of problem.  Don’t be  Like car, home, health, life usually these valuable things are insured.  Insurance is a safe and secure way, which can make your family and the person dependent on you strong in your financial situation, so that if you die in future or any other events cause any loss to you, then at that time  You or your family does not have to face any kind of problem related to money, insurance policies solve your problem, so it is very important to have insurance today.

Types of Insurance

There are different types of insurance such as Life Insurance, Home Insurance, Health Insurance, Vehicle Insurance, Travel Insurance, Crop & Farmer Insurance and Mobile Insurance etc.  So we are Types of Insurance i.e. how many types of insurance are there?  And learn about the benefits of insurance.

Life Insurance

Life insurance means life insurance is a type of agreement between the insurance company and the person taking the insurance, in which the insurance company guarantees that if the policy holder dies in the future, then Nominee from his family.  A certain amount will be paid by the insurance company according to the terms and conditions so that they do not face any financial crisis, but this amount will be given as much as that person had insured.  This life insurance depends on when the person died, how and for what reason.  There is no trust in anyone’s life, so people leave life insurance policies especially for their families.  Most of the people adopt this life insurance policy so that after their departure, their family members get some help of money.

Home Insurance

If you build a house with your hard earned money, then you should also get home insurance or home insurance.  In Home Insurance, a policy is made according to the structure of the house, the goods of the house, if there is a sudden accident like earthquake, flood, or damage to the goods of the house, all of it will be compensated by the insurance company.  Is .  Today many people take out the insurance of their house, through which they can keep their house safe, so it has become very important and necessary to do home insurance.

Medical and health insurance

Health Insurance or Health Insurance This is a type of insurance service in which a person can plan his medical and surgical expenses and there are different types of plans for these by many financial institutions.  Everyone should get Medical & Health Insurance because this facility is given to the person taking the insurance for all the treatment of his health.  But all this facility is provided by the same insurance company where the insured person has taken their policy and provides for the cost of medicines, operation cost and hospital expenses etc.  Nowadays no one knows when what will happen to someone, when someone’s health will deteriorate, in such a situation, there is a great need for a health insurance policy and this policy is very useful at this time.

Health Insurance or Health Insurance This is a type of insurance service in which a person can plan his medical and surgical expenses and there are different types of plans for these by many financial institutions.  Everyone should get Medical & Health Insurance because this facility is given to the person taking the insurance for all the treatment of his health.  But all this facility is provided by the same insurance company where the insured person has taken their policy and provides for the cost of medicines, operation cost and hospital expenses etc.  Nowadays no one knows when what will happen to someone, when someone’s health will deteriorate, in such a situation, there is a great need for a health insurance policy and this policy is very useful at this time.

Personal Accident Insurance

In the Accident Insurance Plan or Accidental Policy also, by depositing a fixed price, the policyholder is given some money or amount if he is admitted to the hospital according to the terms and conditions of the policy in case of accident or any disability.  One of the biggest advantages in Accidental Policy is that you do not have to bear any kind of expense in case of any accident with you.  The insurance policy company in which you have got your insurance done, the same company bears all your expenses.  That’s why it is very important to have this insurance.  Different insurance policies have different terms and conditions, they should be insured or insured only after reading them.

Vehicle Insurance

If you have a car, bike, motor, auto or any vehicle, it is very important to get it insured because it protects us from financial loss in case of any kind of accident, so getting vehicle insurance is very important.  There are two types of vehicle insurance in India, 1: Third party insurance 2: Full party insurance

1. Third party insurance:

In this type of insurance, if you have an accident with that vehicle and at the same time there is a loss of the driver or vehicle of the other vehicle, then the insurance company compensates them.  But the insurance company does not give any kind of claim in case of damage to you or your vehicle, so it is also called third party insurance.  This insurance is mandatory as per the Motor Act.

2. Full party insurance:

In this type of insurance, if there is an accident, the loss of everyone like the vehicle, the driver, and the people sitting in the vehicle and the damage of the other vehicle, such as for small and big broken feet and the rest of the loss, the insurance company gives.  .  Full party insurance is also called standard motor insurance.

Crop and Farmer Insurance

Friends, the weather is not trusted, sometimes rain comes and sometimes it never comes, due to this there is a lot of damage to your farming, so you should insure your crop every year.  In this insurance, your crop gets some kind of protection, if there is some damage to your crop, then the insurance company compensates all your losses, so if you are a farmer, then you must do Crop Insurance and Farmer Insurance. Needed.

Travel Insurance

If you are traveling alone or with your family, then it is very important to have your travel insurance or travel insurance.  If you ever have to travel, then you should plan everything before leaving the house, so that you do not have to go through the troubles during the journey.  If you are unable to manage anything by yourself, then at such times you can adopt Travel Insurance.  And one thing is that, if there is an accident during the journey, or there is a delay in the journey such as flight delay, flight cancellation, in such a situation, Travel Insurance bears the full cost of your loss, so Travel Insurance or Travel Insurance  It is very important to be

Mobile Insurance

Today everyone has a mobile phone, so you must have also heard that it is necessary to insure mobile too.  Today everyone has more than one mobile phone and if there is some minor damage to your mobile phone, then the insurance company gives you all the compensation for it, so it is very necessary to do mobile insurance.

Conclusion:

So friends hope that you like “What is Insurance?, How many types of insurance are there?, Benefits of Insurance, What Is Insurance, Types of Insurance” have liked this post or about this post.  If you know some things, then you can tell us by commenting.

Default image
Blogshangrila
Articles: 67

Leave a Reply