Insurance refers to a contractual arrangement in which one party, i.e. insurance company or the
insurer, agrees to compensate the loss or damage sustained to another party, i.e. the insured, by
paying a definite amount, in exchange for an adequate consideration called as premium.
The insured receives a contract, called the insurance policy, which details the conditions and
circumstances under which the insurer will compensate the insured. The amount of money charged by
the insurer to the Policyholder for the coverage set forth in the insurance policy is called the
premium.
Life
Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the
insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the
death of an insured person.
Disability
Disability Insurance, often called DI or disability income insurance, or income protection, is a form
of insurance that insures the beneficiary's earned income against the risk that a disability creates
a barrier for a worker to complete the core functions.
Car
Auto insurance is a contract between you and the insurance company that protects you against
financial loss in the event of an accident or theft. In exchange for your paying a premium, the
insurance company agrees to pay your losses as outlined in your policy.
Health
Health insurance is a type of insurance coverage that covers the cost of an insured individual's
medical and surgical expenses.Depending on the type of health insurance coverage, either the insured
pays costs out of pocket and receives.