Insurance

What is Travel Insurance Policy and Travel Insurance Coverage

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Travel Insurance Definition: Travel insurance is an insurance product to protect you from the risk of losses occurred in misfortune events during domestic and international travels. Main purpose of any kind of “Travel Insurance Policy” covered is associated with trip cancellations and medical expenses. Now a day, online ticket booking websites provides you the travel …

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What is Auto Insurance Policy and Types of Auto Insurance

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Auto Insurance Definition: Auto insurance an insurance which protect you from the financial losses due to misfortune in case you met with an accident. It is a agreement between vehicle owner and insurance company. Insurance company agrees to pay financial losses due to vehicle collision and in return company charges premium for the financial cover. …

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4 Key Consideration Clause of a Life Insurance Policy

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Are you aware of Consideration Clause of a Life Insurance Policy? Before you take any life insurance policies it become mandatory for an individual or an organisation to check the consideration clauses of a life insurance. It is always advisable to know advantages and disadvantages based on consideration clause of a life insurance rather than having …

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What is Term Insurance Policy and Types of Term Insurance

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Term Insurance Definition: Under this insurance, coverage is for a specified amount of time. Beneficiaries are paid at face value of policy and are protected from any financial losses upon death. Maximum duration for the term insurance is usually 35 years. Term life insurance is most frequently selected policies from life insurance. It is very …

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What is Life Insurance Policy and Types of Life Insurance

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Life Insurance Definition: Life insurance assures financial protection in unforeseen situations. Insurance companies intended to start life insurance to ensure that income of the families are unaffected due to sudden or pre-mature death of the family members. You can avail Life cover for yourself and your family members from personal risk. Life insurance stands on …

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What is Disability Insurance Policy and Types of Disability Insurance

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Disability Insurance Definition: Disability Insurance is also known as Income Protection Insurance. Under this insurance insured income is protected in case of insured is disabled for longer period with no productive work. There is one more insurance type which is extremely important to consider beside health insurance.  Assume that probability of temporary disabled is higher …

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What is Health Insurance Policy and Types of Health Insurance

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Health Insurance Definition: Health insurance is one the most important types of insurance policy that covers insured with surgical and medical expense. It is highly recommended that everyone should buy it, without health insurance, you or your family member’s illness or accident can wipe all your money and put your financial status into jeopardise for …

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Fundamentals of Risk and Insurance: Insurance Basics

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How does Life Insurance work ? Insurance lives up to expectations by pooling risk. It basically implies that a large group of individuals who need to insure against a significant losses by paying premiums which is known as Insurance pool. Probability of real loss occurrence is very less (single digit percentage) from the group of …

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What is Insurance Policy and Types of Insurance: Insurance Basics

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Insurance Definition: Protecting or safeguarding significant loss is called as Insurance. It is a type of risk protection and wealth management strategy as a part of financial planning for an individual or an organisation. “Insurance companies offering insurance products are termed as Insurance Policy”. In insurance policy insurer can cover cost of potential loss in exchange by …

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