5 insurance policies Discussed in detail (Fast facts)
The meaning
of the word “Insurance” is an assurance or something which covers. In
other words we also can say that insurance is an assurance or protection of
something. Today different companies are established, who provides insurance to
their customers. These companies provide different insurance policies to assure
their customers and protect them from a big loss. Their terms and conditions
are applied equally to their customers. Every company works on different
insurance policies but most of the policies are similar.
In the below section, we will discuss 5 main types of
Insurance policies in detail. First, we have to check names of these types:
1: Life Insurance
2: Property Insurance
3: Health Insurance
4: Auto insurance
5: Long-term disability
insurance
1: Life Insurance:
Life insurance policy is one of the main and important policies
for a person, who may be married or single. It has many benefits with which a
person or family of that person can get a benefit. This benefit could be in
case of an accident or death of that person. If a person who had a life
insurance policy is injured in an accident or died? After that, his family can get the money from
an insurance company. If the installments are complete then you can get you
money according to terms and conditions of Insurance Company. If you die before
paying the last installments your family can get all the money according to company’s
terms and conditions and no future installments needed.
2: Property Insurance:
As life insurance policy gives you an assurance that in any
bad situation the company will help you out according to their terms and
conditions. The property insurance assures that if there will be any short
circuit or any other situation which damages your house, the insurance company covers
your loss as per their policy requirements and according to their terms and
conditions.
3: Health Insurance:
Health is the
most important and serious issue to look over.
As we know “Health is wealth”. If we are healthy we will live
happily with our family and friends. If we are not healthy and suffering from a
serious illness we have to take into account that our family will not be happy
without us, and no company wants an employee who is suffering from a serious
illness. So many companies provide their employee’s health insurance. In case
of illness or an accident, the company provides the hospital facilities to help
their employees and keep them safe and healthy to take apart in the growth of
the company.
4: Auto insurance:
This type of insurance policy is required when
you are going to buy an expensive and luxurious car or motorbike or another
expensive vehicle. When you buy a new vehicle you are required to add
conclusion coverage to your policy. It provides you with a facility in case of
any serious accident. In this situation, the insurance policy covers your
damage and the damage of another person also. Most Auto insurance policies
cover the damage of vehicles as well as provide the treatment facilities to
injured passengers.
5: Long-term disability insurance:
In our life, we can’t imagine that what will be happened next in our life. Nobody can think to be disabling in his or her life. But in some situations maybe any disease will be the cause of disability. That disability could be mind disability or physical disability. So this type of insurance covers the long-term disability which includes medical treatment and other facilities to get comfort and batter life. Some companies give the facility to their employees to get short-term and also long-term disability insurance to facilitate them in their critical situations.
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