Types Of Insurance - Different Types Of Insurance Policy In India

Types Of Insurance - Different Types Of Insurance Policy In India

TYPES OF INSURANCE IN INDIA

Types Of Insurance That Everyone Needs To Know

Insurance : Hello Friend Wellcome To New Post , Here Are The Types Of Insurance ,Which Helps In Our Daily Life ,We Have Know All About The Insurance,Which Helps Us .We Have To Know All About The Life Insurance.

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Types Of Insurance Are ;

• LIFE INSURANCE

• GENERAL INSURANCE

• HEALTH INSURANCE

• CAR INSURANCE

• MOTOR INSURANCE

• PROPERTY INSURANCE

• FIRE INSURANCE

• LIABILITY INSURANCE

• SOCIAL INSURANCE

• GAURENTY INSURANCE

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INSURANCE

In a case we are always worried about different aspects in life due to stress and tension, there are always thoughts that we should to get  insurance for us. But, there is no doubt it is a difficult to get decision especially when we are not aware for the different insurance policies and other types. Whenever we are going to an insurance policy we should know , first get a proper research done in this case. here are the few types of insurance in this piece of writing that is easy for you to make and take a food decision.

THE TYPES OF INSURANCE AS FOLLOWS:

LIFE INSURANCE:

it is the most important and common insurance for us, this types of insurance are different from other types of insurance because a subject matter is the life of the human. There is no doubt in our life it is always under threat and we  never certain about when we are going to die. In this insurance ,the insurer will pay us a specific amount for insurance at the time of the death or when an expiry of a certain period it takes place. Life is most important for us as we know, any other property & money doesn't matters in our life. Most of the people like to de life insurance, because they want to secure interest of their loved ones  they will be leaving behind. One cannot protect their life but by taking a life insurance, they can protect their family for 100% sure.

It will not only the insurance policy but also an investment because this will come back to our family upon the death of the man or person who is going for insurance or at the expiry of  period.

GENERAL INSURANCE:

general insurance, person can include the property insurance, and other form of insurance, with liability insurance. where the Fire and Marine insurance are only ones that comes in a category of Property insurance. There are other types of insurance that you will get such as Motor or Theft and Machine insurances dealt under a umbrella of liability insurance to an extent, ex: about the strictest form of liability insurance then it is a fidelity insurance, in these case of liability insurance, the insurer pays on the behalf of the insured, the insured is compensated whenever there is a liability on person such as payment to a third party.

Property Insurance:

Property Insurance : the name only suggests for the property insurance is related for the property and other belongings of a person. the term “property” here is the umbrella term which also includes the difference types of property, depending on  insurance policy that we choose. When we get property insurance the insurer will provides us insurance against a specific risk. Some of the risks are fire and marine perils and other activities of theft on a property or goods of a family, that will cause damage to a property & other belongings

Fire Insurance:

This is risks that can happen in any time of our daily life,  fire insurance it covers all the damage and risks that caused by a fire.in type of the insurance in where  there is  risk to society and other as well not just to an individual person. When we get an fire insurance, the loss can be compensated. It depends on company and the policy that we  chosen because we should get the one which covers the consequential loss.

Liability Insurance:

we told above about these liability insurance is  general insurance, where we have a guarantee that  insurer will pay us the damages or compensation , in case we have to cause any damage for any property, loss, injury or death. here are the some other types of insurance that comes under these category and that are fidelity insurance & machine insurance & also  automobile insurance.

Social Insurance:

Social insurance is the only of the type of insurance that are specially designed for giving us protection to weaker sections of the society the person who cannot able to pay any premium amounts for the adequate insurance policies & pension plans and any different benefits such as the disability, unemployment benefits.

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Guarantee Insurance

in This type of insurance policy ,it covers the lot of loss due to dishonesty, disloyalty and disappearance of third party of the employees. a party which are involved in this type of the insurance must be the party to a contract,  failure of a party cause loss to for the first party This insurance can be explained with the help of an illustration. for example take an  export insurance, in these case of  insurance the insurer will be compensating you the loss for the failure of importers for instance they failed to pay the amount of debt to us.

if we want the car insurance then we might have to look for the different policies that are offered by the different companies. If you are looking for the cheap insurance policy, then you have to complete your research about all the companies and organization that are offering us good insurance policies

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