what is insurance?
1.An arrangement by which a company or the state undertakes to provide a
guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.
2.a thing providing protection against a possible eventuality
Example: In Simple manner if you want protect your mobile, business, and other Assets by unexpected event,
You need to kept money for separate for future unexpected loss.(Before Insurance)
If You pay 10% value of your Asset, i can pay 100% value if any loss to your Asset in Agreement Period.
Mostly general insurance policy period is 1 year. Life insurance 5 years.
What is Insurance Policy?
An Agreement Between Insurer and Insured is called as Insurance Policy.
What is Insurance Grace Period?
insurance grace period A life and health insurance provision allowing the insured 30 or 31 days after the premium due date to make payment if the insurance is to stay in force.
What is Insurance Premium?
What is sum assured in lic?
what is insurable interest?
what is insurance maturity?
what is insurance bonus?
what is insurance and types of insurance?
We Provided infor about Insurance Definition,
Types of Insurance?
- Fire/ House owners/ Householders insurance
- Personal accident insurance
- Health insurance
- Travel insurance
2. Life Insurance
- Whole life
- Life annuity plan
- Medical and health