What is life insurance? How many types of insurance
Many people on my blog want to know about life insurance . So through today's article I will tell you what is life insurance ?
In fact, almost all of us must know what is life insurance and how many types of insurance and what ? I will also say why it is important for all of us to get insurance.
Accidents of any kind can happen at any time in the present age. That accident could happen to any of you and me. Again it can be with anything you value.
In fact, no one knows what will happen at any time in life. So if we insure ourselves and our valuables in this accident-prone life, then when the bad times come, there will be a chance to get a lot of financial gain or help.
The most lucrative aspect of life insurance is that it will help your family financially even after death. So I will tell you that life insurance is a must for all of us at this time.
So, let's find out what is life insurance ? Learn more Why insure? Moreover, I will know again what is general insurance .
What is life insurance?
Life insurance is a type of insurance where a person regularly pays premiums to an insurance company, and intends to receive a good amount of money in the future after a certain period of time or after the death of that person.
Why do you need life insurance?
If you have a family, you are financially supporting your family, then it is important for you to have Term life insurance .
In fact, Term life insurance is an insurance in which the person in whose name the insurance is given, if he dies due to any reason, then after his death his designated family is paid.
Hopefully, you understand what life insurance is and why it is important to take out life insurance.
What does insurance mean?
At present there are many misconceptions about insurance. Many people think that insurance is a kind of investment scheme where money is deposited. And we will be able to withdraw this deposit at one time interest.
Just like that, saving scheme, bank recurring, fixed deposit, mutual fund etc. But, remember, insurance is not a way to earn money in the future by depositing money in this way.
In fact, people here misunderstand the difference between insurance and investment scheme. Remember, insurance will never help you to make a profit on your direct profit.
How much money will be paid to the family after the death of the insured person has to be considered before taking insurance. The amount of your premium will be determined on top of your surviving amount, which is called sun insured value .
Insurance helps you to get a good amount of money against your future losses. So, even if you do not get any direct financial assistance through the insurance scheme, you will get a good amount of money from the insurance company in return for the various losses that may occur in the future.
How many types of insurance and what are they?
Remember, there are 3 types of insurance. E.g.
- Life insurance
- Health insurance
- General insurance
These three types of insurance I have discussed in detail below. However, it is important to know everything about insurance before making this type of insurance.
There are many types of insurance, so you can insure any one. However, at present there are more than 7 types of insurance. These types of insurance are,
- Life insurance
- Health insurance
- Accidental insurance
- General insurance
- Travel insurance
- Fire insurance
- Property insurance
- Building insurance
What is general insurance?
General insurance is actually an insurance that covers all types of insurance except life insurance. Simply put, this insurance does not cover people's lives.
In a word, general insurance is the act of insuring your life and health. In general insurance, your valuables are insured to protect against theft or loss.
For example, travel insurance, fire insurance, motor insurance, building insurance, accidental insurance, etc. are called general insurance.
What is health insurance?
Health insurance here means a lot easier. The insurance that covers all the costs to protect your future health is called health insurance.
If the person in whose name the insurance is is hospitalized due to illness, then the medical expenses of that person will be fully borne by the health insurance company.
Why do health insurance and what are its requirements?
Health insurance is much more important today. Because, at present human immunity is decreasing day by day. So, due to minor ailments, we have to be hospitalized. It costs a lot of money.
So, if you have a health insurance, then you will need money in those bad times and then you will not have to spend a single penny on your own. The entire cost of the hospital will be paid by the insurance company.
Hopefully, you can easily understand why it is so important to have health insurance these days.
What is insurance premium?
In fact, insurance premium means the amount of money that you or the insured person will pay to the insurance company on a monthly or yearly basis after insuring or insuring.
What we learned today
So, friends, today we know what is life insurance and how much and what kind of insurance it is. I also mentioned some more insurance.
I would advise you to have two insurances. These two insurance are life insurance and health insurance. If you like my article, please let me know in the comments and share.