What is Insurance and how many types are there?

Have you have not done any insurance yet, then definitely do it and if you do not know what insurance is and why it is necessary, then today’s post is about this where we will know how many types of insurance there are. What is the trust of life today and not tomorrow, that is why it is very important for every person to make such arrangements so that if there is health, accident and death in the coming time, the family does not have to face the trouble behind. 

You must have often seen advertisements promoting insurance on your TV, but after seeing these advertisements, have you ever wondered what are the benefits of doing insurance? We keep hearing about many companies every day, which keep talking about many types of insurance, that is why today we will also understand very well what the types of insurance are.

There are many benefits of insurance, but the most important thing is that when you take any type of insurance during your lifetime, then you become tension free. All you have to do is according to their terms and conditions, then the insurance company solves many problems in your life, which they promise. I also used to think in the beginning that what is this insurance, behind which people keep getting so upset. 

The people who run the family know how difficult it is to give a comfortable life to the family and when something bad happens to the same earning person, it affects the whole family. Every member of the family is affected by this, the children studying, if there is a marriageable daughter, then she can get married at once, but she is insured immediately after her birth so that till the time of marriage, she is insured. 

The amount should be sufficient and she can be married. In this post, we will know what insurance is and what is its importance, as well as we will also know how many types of insurance there are.

What is Insurance?

Insurance is such a facility in which the insurer promises to pay the sum insured to its insured holder after any kind of loss, illness, accident, death to you or any member of your family.

If you have got your shop insured and there is a loss due to any kind of accident in the shop, then the insurance company compensates this loss. Insurance means insurance.

Today’s world has become very fast, the importance of machines is increasing in this era of development. In this era of machines, the danger to humans is becoming very high. The number of accidents on the road has also increased due to the plying of more vehicles. It cannot be said about health, who gets caught when and which disease. Every day we come to know about new diseases which are new. So overall the thing is that if someone says that he will live for 60 years without any problem then it is impossible. 

Troubles and troubles keep coming in life, no one can escape from them. In such a situation, insurance becomes very important in life. If there is only one person earning in the house and other family members depend on him, then it is obvious that the life and future of other people also depend on that person’s life. Accidents while walking on the way are very common. 

Or say that due to illness or the worst death, then after that the family does not have to face much trouble, that is why these insurance companies help a lot by giving compensation to the relative of that person.

When we go to buy a vehicle whether it is 2 wheeler or 4 wheeler, it has been made mandatory by the Government of India to insure it. So from whichever showroom you go to buy a car, they insure the vehicle themselves. 

If someone starts a new business, then a lot of capital has to be invested in it and suppose if any accident like fire, shop theft happens, then that person will also drown and in this situation insurance company as insurance. Give a chance to start the business again by giving compensation. In this way, insurance/insurance is not of one type, but they are of many types and you can choose any one according to your need.

Importance of Insurance It is very important to understand how important insurance is, because every person needs it, let’s understand its importance in simple words. The happiness of every family runs due to the financial support of its head, that’s why insurance becomes very important especially from that time as soon as a person starts his family. This means in a way that whoever is the head of the family, his life should be secure so that there is no financial trouble and if something bad happens to that head, then insurance becomes a kind of support. And supports in place of that chief.

 Do you know what will happen tomorrow? No, you don’t know what is going to happen next. Do you know if something happens to you tomorrow and behind you the whole family is left crying and there is no one to see. This type of tension sometimes comes in the mind of people, but do you want that there is no such tension in life, then there is nothing better than insurance for this. It will continue with your life and will benefit you and even after your life will complete your work for your family. In this way it will free you from tension and pressure.

Right now your financial condition is not good but if you have taken insurance then in future there will come a time when you will get the amount of insurance and at that time you will have good money which will bring happy moments in your life.

Everyone knows that money is not everything, happiness cannot be bought with money. The importance of money is nothing more than health and life. But after ensuring you get a peace of mind which gives you a happy life.

If you die, which is a fact and no one can escape it, the daughter’s marriage is still pending or the children’s education is not completed. But even if you have got insurance, after your departure, the daughter will also get married and the education of the children will also be handled well.

Types of Insurance –

Life Insurance – 

Life insurance is the most widely offered insurance plan in our country India. There will hardly be some people who have not kept life insurance. A life insurance plan is a protection against loss from the end of the insured person. In this, insurance is done for a time period, when that amount is given to the person by the company or it is given to the family members in the event of the death of that person.

Nothing is more important than the life of a human being. When the life of many people depends on one person, then it is very difficult to get an idea of ​​the importance of that person’s life. No one can compensate for that person’s life, but after his death, the family gets support from the compensation due to him. The person who takes the service of life insurance has to keep depositing the amount with the company for a fixed period.

Health Insurance – 

In today’s era, the importance of health insurance has increased a lot. Whenever the time of emergency comes regarding health, then this insurance is very useful. We all know how expensive it has become to get treatment in hospitals today. Those who are smart people definitely keep this insurance. 

Whenever you get health insurance, see in which hospital the insurance company is giving the option of getting treatment. Because in this you get the facility of getting treatment in the same hospital with whom they keep their tie up. There are many insurance companies that provide the facility of health insurance for the whole family.

 Home Insurance-

Most of the population in India is from the middle class family. Building a house for the middle class family is no less than a dream. It takes a lot of money to build a house, which a person saves and accumulates from the earning of the whole life, then he is able to build it. 

After so much hard work and struggle for a long time, if a house built with jointly built capital gets ruined by any natural calamity or riot, then imagine what will happen to that person and his family. No one can stop the natural calamity, apart from this, the house can be ruined even if it comes in the grip of any riot or strike. That is why if insurance is done in these cases, then nothing is better than this.

On insuring the house, natural calamities like earthquake, flood, lightning, fire, besides man-made calamities like riots, riots, strikes, theft, attack, the amount of insurance for the damages after all these calamities. Is given.

Vehicle Insurance

Nowadays every two wheeler and four wheeler vehicle purchased has to be insured at the same time. This has been made absolutely mandatory by the Indian government. If you drive on the road without it, then you will be considered wrong by law and for this you will also have to pay a penalty. In vehicle insurance, not only the vehicle but also the third party along with it. Because of this, compensation is given in return for the damage caused to any person by the vehicle.

Travel Insurance

Recently, travel, i.e. travel insurance is becoming very fast among the people. Every day crores of people travel within the country in our country. Many people also travel abroad. If you have ever visited the site of Indian Railways to book train tickets by yourself, then you must have seen the option of travel insurance there, if you have not seen it, then definitely check it out next time.

If you travel by train, you can avail travel insurance for just Re. In this, you are given a cover of up to Rs 10 lakh. This is an optional service, if you want, you can get this insurance done and if you do not want then you can also leave this service. Similarly, you are provided with the facility of travel insurance. On getting travel insurance, medical facilities are provided in case of baggage, luggage is lost or stolen in the middle of the journey, or if there is any kind of health problem.

Accident Insurance – 

Due to the continuous movement of countless vehicles on the roads, the number of accidents has also increased significantly. For this reason, the accident insurance scheme compensates for the physical damage caused by the accident as compensation. After being admitted to the hospital in case of an accident while walking on the road, that amount is paid.

When someone chooses a policy under the accident plan, then all the expenses are borne by the company, which is why accident planning is very important. Please read the terms and conditions before starting this scheme.

Crop Insurance

Most of the population of India lives in villages. The main work of the people of the village is agriculture. The condition of farmers is not always good in our country. Even today, the farmers here depend on the weather to do their farming and now due to global warming, the cycle of weather is becoming unbalanced all over the world. There is no rain on time due to which the farmers have to suffer a lot. This is the reason why many farmers commit suicide every year. In view of these reasons, crop insurance scheme has been started for the farmer. After planting the crop, if the crop is damaged due to any reason, then the insurance company compensates the entire loss.

Also read: What is Crypto Currency and how can it be used?

In short

Friends, getting insurance is very important for every human being. That is why in today’s post we have learned what insurance is and what its importance is. There are many types of this, but every person should get every type of policy, it is not possible for a middle class person. That is why it is also important to know which policy is beneficial for you and accordingly you should get full benefits for your life. That is why we have also learned here what are the types of insurance.

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