Smart Easy Insurance
Risk management dominates every realm of finance and is inseparable from the world of investment. Mutual Fund-easy comes with effective strategies like portfolio diversification, asset allocation, and position sizing to mitigate or manage risks effectively. For we have the expertise in the process of identification, analysis, and acceptance or mitigation of uncertainty in investment decisions.
Types of Insurance:
Insurance policies protect against the various types of uncertainties that can occur in an individual's life. Having health insurance can help you cover the expenses paid for any diseases, while accident insurance can help you in getting coverage for any kind of accident that may occur.
There are various types of insurance in the market due to the presence of a large number of insurance companies. But, the purview of this article is restricted to dealing with the types of Insurance as prescribed in the Business
The types of Insurance that will be discussed are:
1. Life Insurance
2. General Insurance (which includes fire insurance, health insurance, and marine insurance)
Let us discuss these types in detail.
#Life Insurance, that never leaves you.
Life insurance is a type of insurance policy in which the insurance company undertakes the task of insuring the life of the policyholder for a premium that is paid on a daily/monthly/quarterly/yearly basis.
A life Insurance policy is regarded as a protection against the uncertainties of life. It may be defined as a contract between the insurer and the insured in which the insurer agrees to pay the insured a sum of money in the case of cessation of the life of the individual (insured) or after the end of the policy term.
For availing life insurance policy the person needs to provide some details like age, medical history, and any type of smoking or drinking habits. As there are many requirements of persons for availing life insurance, the requirements can be needs of the family, education, investment for old age, etc.
Some of the types of life insurance policies that are prevalent in the market are:
A. Term Insurance policy: Term Insurance is a life insurance policy that offers coverage for a fixed number of years - the “term” of the policy. If the insured individual dies when the policy is active, a death benefit is paid to the nominees of the insured individual.
A basic variant of term insurance has no cash value which means if the insured person survives the term of the policy, the policy does not return any value, with the exceptions of plans like Return on Premium, etc.
You can purchase a term insurance policy which can provide a certain corpus to your dependents in the event of your demise, they would be able to sustain the same lifestyle or pay off existing liabilities without compromising on their dreams thanks to the sum assured which they would receive from life insurance.
B. Whole life policy: As the name suggests, in this kind of policy the amount that is insured will only be paid out to the person who is nominated and it is only payable on the death of the insured.
Some insurance policies have the requirement that premiums should be paid for the whole life while others may be restricted to payment for 20 or 30 years.
C. Endowment life insurance policy: In this type of policy the insurer undertakes to pay a fixed sum to the insured once the required number of years is completed or there is a death of the insured.
D. Joint life policy: It is a type of policy where two persons avail the life insurance, and the premium for such a policy is paid either jointly or by each individual in the form of installments or a lump sum amount.
In the case of such a policy, the assured sum is provided to both or any one of the survivors upon the death of any policyholder. These types of policies are taken mainly through husband and wife or between two partners in a business firm.
E. Annuity policy: Under this policy, the sum assured or the policy money is paid to the insured on monthly/quarterly/half-yearly or annual payments. The payments are made only after the insured attains a particular age as dictated by the policy document.
F. Children’s Endowment policy: Children’s endowment policy is taken by any individual who wants to make sure to meet the expenses necessary for children’s education or for their marriage. Under this policy, the insurer will be paying a certain sum of money to the children who have attained a certain age as mentioned in the policy agreement.
CHOOSE THE BEST PLAN FOR YOU & FOR YOUR FAMILY: TERM PLAN, RETIREMENT OF PREMIUM(TERM PLAN), PENSION PLAN, GUARANTEED PENSION PLAN, SAVINGS PLAN, SMART PROTECT PLAN, ULIP PLAN, IMMEDIATE INCOME PLAN, GUARANTEED INCOME PLAN, ANNUITY, FIXED MATURITY PLAN (GUARANTEED), CHILDREN PLAN, HEALTH PLAN, POS PLAN, GROUP PLAN ETC.
#Car Insurance Covering You with Happiness:
Motor vehicle insurance: Motor vehicle insurance is a popular option for owners of motor vehicles. Here the owners’ liability to compensate individuals killed by the negligence of motorists is borne by the insurance company.
It makes sense to give your costly possessions like cars, personal or commercial, protections which ascertain financial compensation when losses occur. These losses can be caused due to various incidents like accidents, diseases, fire, natural or man-made mishaps, etc. We will help you choose the right one from the most popular options: Comprehensive Car Insurance I Third Party Property: Fire & Theft. Get all types of car insurance in just 10 minutes*.