What are the types of insurance? Types of Insurance, What is Insurance?

What Is Insurance, Types of Insurance, what is insurance and how many types of insurance are there?: Today we will talk about insurance, insurance is a very useful thing in today's time and will help in future. After the tragic event of any person, the insurance company helps them and insurance is very essential in everyone's life.

What are the types of insurance?  Types of Insurance, What is Insurance?

You can solve all the problems in your life through insurance. So friends, what is insurance, how many types of insurance are there and what are its benefits? Today we will tell you about all these in this post.

What is insurance?-

Insurance is called Bima in Hindi. The word Bima comes from the Persian meaning 'to take responsibility'. Dr. Raghuveer has translated it as 'Agope'. Its English synonym is "insurance".

Insurance or insurance is such an arrangement for the future, in which any insurance company guarantees to compensate you for any kind of loss, illness, accident or death.

In today's crowded life, no one knows what will happen when, in such a situation, if you insure your valuable things in the right way, then it will work like a backup for you and insurance will be of great help to you when trouble comes.

By the way, there are many such insurance companies in the market, which sell insurance and all of them have a different feature of their insurance plan, but you should take a policy carefully when you find it right according to your needs and later you will face some kind of problem. Don't be Like car, home, health, life usually these valuable things are insured.

Insurance is a safe and secure way, which can make your family and the person dependent on you strong in your financial situation, so that if you die in future or any other events cause any loss to you, then at that time You or your family do not have to face any kind of problem related to money, insurance policies solve your problem, so having insurance is very important today. 

Types of Insurance -

There are different types of insurance such as Life Insurance, Home Insurance, Health Insurance, Vehicle Insurance, Travel Insurance, Crop & Farmer Insurance and Mobile Insurance etc. So we are Types of Insurance i.e. how many types of insurance are there? And learn about the benefits of insurance.

1. Life Insurance

Life insurance means life insurance is a type of agreement between the insurance company and the person taking the insurance, in which the insurance company guarantees that if the policy holder dies in the future, then Nominee from his family. According to the terms and conditions, a certain amount will be paid by the insurance company so that they do not face any financial crisis, but this amount will be given as much as that person had insured.

This life insurance depends on when the person died, how and for what reason. There is no trust in anyone's life, so people leave life insurance policies especially for their families. Most of the people adopt this life insurance policy so that after their departure, their family members get some help of money.

Types of Life Insurance - Types of Life Insurance

• Term Insurance
• Endowment Plan
• ULIP Unit Linked Insurance Plans
• Money Back Policy

2. Home Insurance 

If you build a house with your hard earned money, then you should also do home insurance or home insurance. In home insurance, a policy is made according to the structure of the house, the goods of the house, if there is a sudden accident like earthquake, flood, or damage to the house items, all of it will be compensated by the insurance company. Is.

Today many people take out the insurance of their house, through which they can keep their house safe, so it has become very important and necessary to do home insurance.

3. Medical & Health Insurance 

Health Insurance or Health Insurance This is a type of insurance service in which a person can plan his medical and surgical expenses and there are different types of plans for these by many financial institutions.

Everyone should get Medical & Health Insurance because this facility is given to the person taking the insurance for all the treatment of his health. But all this facility is provided by the same insurance company where the insured person has taken their policy and provides for the cost of medicines, operation expenses and hospital expenses etc.

Nowadays, no one knows when what will happen to someone, when someone's health will deteriorate, in such a situation there is a great need for a health insurance policy and this policy is very useful at this time.

4. Personal Accident Insurance 

In Accident Insurance Scheme or Accidental Policy also, by depositing a fixed price, the policyholder is given some money or amount if he is admitted to the hospital according to the terms and conditions of the policy in case of accident or any disability.

One of the biggest advantages in Accidental Policy is that you do not have to bear any kind of expenses in case of any accident with you. The insurance policy company in which you have got your insurance done, the same company bears all your expenses. That's why it is very important to have this insurance. Different insurance policies have different terms and conditions, they should be insured or insured only after reading them.

5. Vehicle Insurance 

If you have a car, bike, motor, auto or any vehicle, then it is very important to get it insured because it protects us from financial loss in case of any kind of accident, so getting vehicle insurance is very important.

There are two types of vehicle insurance in India: a) Third party insurance b) Full party insurance

A. Third party insurance : In this type of insurance, if you have an accident with the vehicle that you have and at the same time there is a loss of the driver or vehicle of the other vehicle, then the insurance company compensates them. 

But the insurance company does not give any kind of claim in case of damage to you or your vehicle, hence it is also called third party insurance. This insurance is mandatory as per the Motor Act.

B. Full party insurance : In this type of insurance, if there is an accident, the loss of everyone such as the car, driver, and people sitting in the vehicle and the loss of other vehicles such as for small and big broken feet and the rest of the loss, the insurance company gives. . Full party insurance is also called standard motor insurance.

6. Crop & Farmer insurance 

Friends, the weather is not trusted, sometimes rain comes and sometimes it never comes, due to this there is a lot of damage to your agriculture, so you should insure your crop every year.

In this insurance, your crop gets a kind of protection, if there is some damage to your crop, then the insurance company compensates all your losses, so if you are a farmer, then you must do Crop Insurance and Farmer Insurance. needed.

7. Travel Insurance 

If you are traveling alone or with your family, then it is very important to have your travel insurance or travel insurance.

If you ever have to travel, then you should plan everything before leaving the house, so that you do not have to go through the troubles during the journey. If you cannot manage anything by yourself, then you can adopt Travel Insurance at such a time.

And one thing is that, if there is an accident during the journey, or there is a delay in the journey such as flight delay, flight cancellation, then Travel Insurance bears the full cost of your loss, so Travel Insurance or Travel Insurance It is very important to be

8. Mobile Insurance 

Today everyone has a mobile phone, so you must have also heard that it is necessary to insure mobile too. Today everyone has more than one mobile phone and if there is some minor damage to your mobile phone, then the insurance company gives you all the compensation for it, so it is very necessary to do mobile insurance. .

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