Insurance Policy And Its Types

     Insurance Policy Is The Asset Which Is Used To Manage Your Risks. When You Buy Insurance You Purchase The Protection Against The Unexpected Financial Losses Or Other Losses. The Insurance Company Pays You When Something Bad Happens To You. That How The Insurance Policy Work There Are Many Types Of Insurance Policy Exist There Are Home Insurance, Health Insurance, Auto Insurance, Life Insurance, Travel Insurance Etc..

How Does Insurance Reduce Your Financial Risks:

         It Reduce You Financial Risks By Pay The Amount When You Are In Loss. There Are Many Insurance Policy Available In The World The Most Common Type Of Insurance Policy Is Home Insurance, Health Insurance, Life Insurance, And Car Insurance Etc.. The Most People In The United States Of America Have One Of These Insurance. And Car Insurance Is Required Very Important And It Is The Order By Law.

Components In Insurance Policy:

         There Are Three Major Components In The Insurance Policy They Are Very Efficient And Useful To The People’s  They Are.   

               1) Premium Insurance

               2) Policy Limit

               3) Deductible

Premium Insurance:

          It Is Very Costly And Efficient For The People. It Is Expressed As The Monthly Cost. It Is Determined By The Insurer Based On The Policy Holder Busines Risks. And Worthiness Of The Policy Holder. But Is Very Useful And Helpful For The People When They Are At The Financial Losses Are Other Health Problems.

Policy Limit:

         It Is An Limit Of The Maximum Value Paid By The Insurer For The Loss Of The Policy Holder. The Policy Limit Is Set By Periods And Its Refered By The Face Value Of The Policy Holder. This Is Amount Paid After The Loss Or The Death Of The Policy Holder. Loss Or Injury Or Over The Life Of The People Is Also Known As The Lifetime Maximum.

Deductible:

       It Is Taxable Income Or Tax To Be Paid. Which Means The Part Of The Insurance To Be Paid By The Insurer. The Amount Of Money That You Pay Before The Insurance Will Pay You For An Expense. It Can Apply Per Policy Per Claim, Depending On The Insurer And The Type Of Policy.

Insurance Policy

Types Of Insurance:

       There Are Several Kind Of Insurance In This Word. Which Help Us In The Critical Situation Like Accident, Financial Losses, Health Problem And Policy Holders Death. In This Type Of Situation We Can Claim A Insurance Amount By The Insurance Company. Insurance Is A Asset Not An Loss To The People. The Type Of Insurance Are.

                1) Health Insurance

                2) Life Insurance

                3) Vehicle Insurance

                4) Travel Insurance

                5) Disability Insurance   

Health Insurance:

         This Insurance Is Provide By The Insurer When The Policy Holder Is Injured By An Accident Or Have The Health Issues Like Cancer Or Heart Attack. It Is Very Useful Insurance In The Insurance Company Some Of The People Dont Have The Mony To Pay The Hospital Fees When They Have The Sever Health Issues Are Injured. If The Policy Holder Have An Insurance Means. The Medical Fees Will Paid By The Insurer When They Needed The Money This Insurance Is Only For The Health Problems Some Other Financial Losses Are Not Added To This Policy.

Life Insurance:

          Many Of The Bank, And The Insurance Company Are Provide The Life Insurance After The Death O The Policy Holder This Is Little Bit Of Crucial Thing But It Is Very Helpful For The Policy Holders Family. The Part Amount Is Paid Continuously By The Policy Holder For Their Life Time. When They Died The Insurance Company Will Paid The Amount To Their Family. The Life Insurance Is Work In This Way. It Is Not Useful To The Policy Holder But To Their Family.

Vehicle Insurance:

         When We Brought An Car Are Bike. It Is Important To Buy An Insurance. It Is Very Helpful For The People. In Many Countries Vehicle Insurance Is Most Important To The People Or The Government Takes Server Action To The People. United States Of America The Car Insurance Is Required The Most And It Is The Order By Law. When The Policy Holder Is Damage The Vehicle By Accident We Can Claim The New Car Or The Price Of The Car From The Insurance Company.

Travel Insurance:

            Travel Insurance Not That Important Compares To The Health Insurance Or Auto Insurance. It Is Used For The Travellers. The Insurance Companies Provide The Travel Amount To The Policy Holder When They At Risk Situation Or The Traveller Are Injured By Travelling.

Disability Insurance:

           It Protect S Individual And Their Families From The Financial Problems. When Illness Or Injury Prevent Them From Not Working To Earn Money. Many Employers Are Buy An Disability Coverage From The Insurance Company.

 

 

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