What Is Insurance: Definition, How It’s Works And Main Type Of Policies

Who does not know about insurance, in today’s present era, so many incidents are happening that every person keeps his insurance That is because if any accident happens to him or something happens, then his family can get further support through insurance. There are many types of insurance too, so today we are giving you all the information related to insurance in this article‌. If you also want to get all the information related to insurance, then do not forget to read this article of ours till now.

What Is Insurance?

If you want to get insurance or want information about insurance, then first of all you should know what is insurance, then insurance is such a means by which the risk of loss can be shifted to the other party by paying some fee which is also called as premium For your information, let us tell you that the party whose risk is put on insurance is called insured. Insurance is a means of protection from financial losses in exchange for a fee.

Types Of General Insurance

    • Home Insurance

    • Motor Insurance

    • Travel Insurance

    • Health Insurance

This is some general insurance, which is done by almost everyone, although there are many other types of insurance, but this is general insurance.

Benefits Of Insurance

There are many benefits from insurance, that’s why in today’s present era every single person is getting insurance like suppose if you have got any dangerous disease and your insurance You do not need to worry because whatever company has done your insurance, it pays for your illness, everything from hospitalization to hospitalization, but for this you have to get health insurance. For your information, let me tell you that the amount of ambulance for transportation to the insurance holder is also reported in it.

Purpose of Insurance

Now it comes to what is the purpose of insurance, then insurance protects you and your family from various risks Insurance policies can be used as collateral for asylum. So every person gets insurance so that he is prepared for the risk of his future life.

Full Form Of LIC

the full form of LIC is Life Insurance corporation of India you have heard about LIC with life even after life There is also a purpose behind saying this because life insurance corporation of going to LIC is something that you do while you are alive and after death you get the benefit of it and your family gets it.

Meaning Of Life Insurance

Life insurance means life insurance policy is this contract made between an individual and an insurance provider In which the insurance company gives financial security to the policy holder every month in lieu of a fee i.e. fee.

Now you must have come to know what is insurance, what is general insurance, how many types of general insurance are there and we have given you information about many other types of insurance today‌ If you also want to get your insurance, then you can go to the online website and check which insurance will be best for you.


We hope that today’s article will prove to be very informative for you, if you like the information given by our today’s article, then definitely share it further and let us know by commenting in the comment box below.

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