How To Know About An Insurance That Will Save Your Future Of life? - somelinesforyou

How To Know About An Insurance That Will Save Your Future Of life?

  • By- Admin
  • On- 7 Jul, 2020
  • Tags: Stories

What is insurance?

Insurance is the lifeline of people after a financial loss. It is one kind of risk management stream whenever you feel risk in some of your work or lifestream, insurance help you to become safe from your risks.

You can say that it is third-party protection In front of your problems.


How does insurance work?

It works base on the legal insurance policy (The insurer and the insured get a legal contract for the insurance).

Who is provide? Normally, Insurance is a legal insurance community or you can say that, this one kind of bank provide that system.

Insurance providers, giving protection to you and your family in front of your financial loss as per your and your insurance policy agreements. Insurance is working mainly in your insurance ability. The insurance policy has details about the conditions and circumstances.

The premium plays an important role here, the premium is one type of charge for your protection. The amount of money charged by the insurance company to the policyholder for the coverage set forth in the insurance policy is called the premium.

However, The premium happens less than your future insurance amount, which you will get from the insurance company after the finishing of your insurance legacy.

Why it is? because very few insured people actually end up claiming the insurance. This is why you get insurance for a big amount at a low price.


Most Important insurance methods.

Dual insurance:- After the loss of finances, insurance companies will give you a dual insurance amount as an outcome of insurance status. However, it is only live-in for in case of contingency insurance such as life insurance.

Self-insurance:- Surroundings where risk is not transferred to insurance communities and absolutely retained by the entities or individuals themselves.

Co-insurance:- This is one type of partnership between insurance companies and insured people. Risks shared between insurers.


Popular insurance types.

  • Auto Insurance
  • Health Insurance
  • Life Insurance
  • Education Insurance
  • Property Insurance


1. Auto Insurance

Nowadays, auto insurance is an important policy for every auto owner. This insurance protects you against any untoward incident like accidents. Some policies also compensate for damages to your car or bike during natural calamities like floods or earthquakes. It also covers third-party liability where you have to pay damages to other vehicle owners.

Benefits of this insurance, after an accident, insured people don't need to worry about not only their vehicles but also third-party damage. Here, everything will manage by the insurance company.

Types of Health Insurance,

  1. Medical payments coverage
  2. Personal injury protection insurance
  3. Classic car insurance
  4. Liability coverage
  5. Collision insurance
  6. Comprehensive insurance
  7. Uninsured motorist insurance
  8. Underinsured motorist insurance
  9. Gap insurance

Gap Insurance,

Gap insurance is typically offered by a finance company when the vehicle owner buys their vehicle, but many auto insurance companies offer this insurance to consumers as well.

This coverage is marketed for those who put low down payments, have high interest rates on their loans, and those with 60-month or longer terms.


2. Health Insurance

Health insurance policies cover the cost of expensive medical treatments. It protects you from the amount of high medical bills. provide cashless medical treatment.

In the flow of this, different kinds of health insurance policies cover an array of diseases and ailments. In addition to this, you can buy a generic health insurance policy as well as policies for specific diseases.

Benefits of this insurance:- Cashless Treatment, Pre and post hospitalization cost coverage, Transportation Charges, Medical Checkup, Tax Benefit, Room Rent, NCB(No Claim Bonus).

Types of Health Insurance,

  1. Personal Accident Plan
  2.  Individual Health Insurance
  3. Family Health Insurance Plan
  4. Senior Citizen Health insurance Plan
  5. Surgery and Critical Illness Insurance Plan
  6. Maternity Health Insurance Plan
  7. Unit Linked Health Plan


3. Life Insurance

life insurance is one type of bank balance for your family’s financial security even in your absence.

By the same token, life insurance is particularly important if you are the sole breadwinner for your family or if your family is heavily loyal to your income.

Benefits of this insurance:- Loan Facility, Guaranteed Income, Tax Benefits, Cover for Health Expenses.

Types of Life Insurance Policies,

  1. Term insurance plan
  2. Annuity/ Pension Plan
  3. Money Back Policy
  4. Endowment policy
  5. Whole Life Policy


4. Education Insurance

Child education insurance is similar to a life insurance policy that has been specially designed as a saving tool.

Education insurance can be a great way to provide a high amount of money when your child reaches the age of higher education and 18 years and above.

This fund can then be used to pay for your child’s higher education expenses.

In education insurance, the child is the life assured or the recipient of the funds, while the legal guardian is the owner of the policy.

Benefits of this insurance:- the long-term education system, less investment, Education flexibilities.


5. Property Insurance

Property insurance can help with covering loss or damage caused to your personal properties, due to accidents like fire and other natural calamities or perils. Property insurance covers other instances like lightning, earthquakes, etc.

Types of Property Insurance,

  1. Home insurance
  2. Flood insurance
  3. Aviation insurance
  4. Boiler insurance
  5. Crop insurance
  6. Earthquake insurance
  7. Fidelity bond
  8. Surety bond
  9. Landlord insurance
  10. Renters' insurance
  11. Marine insurance



The insurance stream is your personal lifeguard. whenever you will give approval, you don't need to panic about your deadly problem.

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