The Benefits of Insurance to Individuals and Organisations
Insurance is actually an arrangement which a company or a state undertakes to provide the guarantee of a specific amount of compensation to the person or entity for a specified loss, damage, illness or death in return for a specific amount of premium that is paid by the person monthly. There are mainly four types of insurance policies: • Life Insurance: it is a type of insurance that is done to provide financial security for the entire family in the event of the policy holder's death. • Health Insurance: it is basically a type of insurance where monetary support is provided for any serious health related issues to the policy holder or his family. • Property insurance: this type of insurance covers the policyholder in the event of damage to his property by fire or any other means. • Auto Insurance: your car is too precious to you, so if it is stolen or damaged you will need a huge amount of money. This auto insurance will pay the policy holder's repairing costs. But before you