Friday, August 19, 2011

Importance Of Insurance

Insurance against future losses conditional use is a defensive measure against the potential risks of the future.

These contracts are called insurance policies are provided by insurance companies. Insurance customers, who are paid back, in part or entirely a regular amount charged to customers in terms of a certain loss. The amount charged to regular customers is called Insurance Premium.

Insurance reasons:

Sometimes in life it is not possible to avoid losses. For example, that people may be sick. They die of disease or accidents or loss or theft of their homes or other property may have to undergo. In all these cases and they have to face the loss of income or savings.

Principles of Insurance:

1 there is a certain course took place at a known time at a known location and should be a known cause damage. Therefore, the space due to damage and should be fairly obvious.

2 represent the event that the claim due to accidental or beyond the control of the beneficiary should be.

3 loss to be significant from the perspective of the size of the insured.

4 premium should be affordable.

5 loss and the potential cost of compensation should be calculable or valuable

Type of Insurance:

Below are some types of insurance.

Life Insurance

Life insurance guaranteed life insurance policy. Insurance company legally deceased family after the death of the policyholder or beneficiary is obligated to provide a monetary return. Proceeds are paid to the beneficiary either in a lump sum or an annuity

Medical Insurance:

Medical insurance is also called medclaim. Under this policy, the purpose of their health insurance pay for the insurance policy. This amount includes the cost of medical treatment.

Disability Insurance:

Insurance.One are two types of disability and total disability insurance disability insurance is simple. In the simplest case of disability insurance, monthly financial support provided by the insurer to the policy holder if he is unable to work due to injury or illness. However, permanent disability insurance provides reimbursement, if a person is permanently disabled.

General Insurance:

The motor vehicle insurance, business insurance, property insurance etc.

Automobile Insurance:

UK motor insurance is the insurance. Loss or damage caused to the vehicle compensates. But in the United States auto insurance policy legally required to operate a vehicle on public roads.

Business Insurance:

Property Insurance:

This type of insurance protects the property against risks like fire, theft etc. This category also fire insurance, flood insurance, earthquake insurance, etc.

Fire Insurance:

It is a property insurance covering damage caused by fire.

Flood Insurance:

It protects the property against flooding.

Earthquake Insurance:

That any damage to property caused by earthquake insurance compensates.


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