Insurance Types And Benefits
The benefits involved with each kind of coverage depend on the provider and the exact policy purchased.
Insurance types and benefits. There are many different types of insurance benefits and each one covers a specific area of need. What are the types of general insurance available. Factors such as children age lifestyle and employment benefits play a role when you re building your insurance portfolio. It pays for or reimburses the amount you pay towards the treatment of any injury or illness.
There are however four types of insurance that most financial experts. Providing protection for the. Types of cargo insurance. This type of general insurance covers the cost of medical care.
Insurance policies are usually bought to cover the damages incurred on virtually any type of property and personal belongings. Examples of insurance policies people can purchase include health dental and life insurance as well as car and home insurance. House insurance provides for losses incurred due to damage caused by natural calamities like fire earthquakes etc. Generally speaking an insurance any type is something where many people financially share the burden of loss or damages of a person effected by accidents or other catastrophic events.
Against damages arising out of accidents thefts natural or human made calamities and even covers third party liabilities. There are many types of life insurance with varying benefits but the main benefit of a life insurance policy is that it will pay the face amount the amount of the policy to the beneficiary if you pass away while the policy is in force. This type of insurance covers cars two wheelers etc. It also covers the belongings inside for damages arising out of burglary.
The company issues insurance products in the hope and increases the company s income and also benefits many people. Life insurance premium of up to 1 5 lakh can be claimed as a tax saving deduction under section 80c. It covers theft collusion damages and other risks involved in land freight shipping. Insurance can be classified into 4 categories from the risk point of view.
This money often is used to cover your final expenses. It is also typically used for domestic cargo since its scope is only within a country s boundaries. Pension plans disability benefits unemployment benefits sickness insurance and industrial insurance are the various forms of social insurance. Cargo insurance is mainly categorized into land and marine cargo insurance which also covers air cargo.
What all can be insured. Individual persons families organizations including non profit entities can buy insurance policies to cover properties and assets. Each insurance has different benefits and functions and has different premiums. This type insures cargo that is moved by land transportation which includes trucks and small utility vehicles.
You can get almost anything and everything insured. Some people if you hear the word insurance must only know life insurance or health insurance even though there are many types of insurance with different benefits. But there are five key types available.
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