insurance is a policy a large financial institution offers a person,compnay other entity reimbursement financial protection against possible future losses or damages insurance is brought in order to hedge the possible risks of the future witch may not take place this is a mode of financially insuring that if such a incedent happens then the loss does not affect the persent well-being the person or the property insured thus,through insurance,a person buys security and protection
simple example will make the meaning of insurance easy to understand.A bikeris always subjected to the risk of head injury.but it is not certain that the accident causing him the had injury would definitely occur.still,peopel riding bikes cover their heads with helmetinsurance by protecting him/her from any possible danger. The price paid was the possible inconvenience or act of wearing the helmet; this ie equivalent to the insurance premiums paid.Insurance can be defined as the process of reimbursing or protecting a person from contingent risk of losses through financial means, in return for relatively small, regular payments to the insuring body or insurance company.
LIFE INSURANCE
It insures the life of the person buying the Life Insurance Certificate. Once a Life Insurance is sold by a company then the company remains legally entitled to make payment to the beneficiary after the death of the policy holde.
HELTH INSURANCE
This is also known as mediclaim. Here, the policy holder is entitled to receive the amount spent for his health purposes from the insurance company.
General Insurance
This insurance type involves insuring the risks associated with the general life such as automobiles, business related, natural incidents, commercial and residential properties,etc......
simple example will make the meaning of insurance easy to understand.A bikeris always subjected to the risk of head injury.but it is not certain that the accident causing him the had injury would definitely occur.still,peopel riding bikes cover their heads with helmetinsurance by protecting him/her from any possible danger. The price paid was the possible inconvenience or act of wearing the helmet; this ie equivalent to the insurance premiums paid.Insurance can be defined as the process of reimbursing or protecting a person from contingent risk of losses through financial means, in return for relatively small, regular payments to the insuring body or insurance company.
LIFE INSURANCE
It insures the life of the person buying the Life Insurance Certificate. Once a Life Insurance is sold by a company then the company remains legally entitled to make payment to the beneficiary after the death of the policy holde.
HELTH INSURANCE
This is also known as mediclaim. Here, the policy holder is entitled to receive the amount spent for his health purposes from the insurance company.
General Insurance
This insurance type involves insuring the risks associated with the general life such as automobiles, business related, natural incidents, commercial and residential properties,etc......
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