what is insurance? meaning and definition of insurance.
hello friends in this post i am going to show you what is insurance? meaning and defination of insurance.insurance is an activity which protect you from any risk,uncertainty,damage or loss.like car accident or burglary.you can also get insurance of your life ,health,car etc.insurance pays money if you get too ill to work or provide for your family if you die.if something happens with your insured things than you claim your amount from insurance company.
work of insurance
in insurance you can choose insurance of any thing like you life insurance,health insurance,motor insurance etc.if in future you will ill or die insurance pay money to the member of your family.
the insurance company calculate the loss that the person suffer and then insurance provider or insurer will determine the price you will need to pay
steps of insurance
1. 1st step of insurance is choose a policy.insurance policy is an document that include the list of what type of insurance you want.for example a ravel insurance,health insurance,motor insurance. so , in first step you choose your insurance policy.you can cover the expenses of medicine,your damaged car etc.
2. in second step you want to pay the premium.if you did not know about premium,the premium is a amount you pay each month or year according to your policy too have the insurance.the amount of payment is always different because it is depend upon what type of risk you insure for example you are driving car and suddenly you injured by accident and your car is also injured then the amount of payment of car is different from your health because the amount of payment of your car is higher than health.car is take too much coast in repair than you body.
3.the last step of insurance is claim or withdraw you payment if something happens on the insured thing.you can claim your price by insurance company.you tell the insurance company about what happened they check and investigate that you are right if all things are right than insurance pay the amount of protected thing or insured thing.
2. in second step you want to pay the premium.if you did not know about premium,the premium is a amount you pay each month or year according to your policy too have the insurance.the amount of payment is always different because it is depend upon what type of risk you insure for example you are driving car and suddenly you injured by accident and your car is also injured then the amount of payment of car is different from your health because the amount of payment of your car is higher than health.car is take too much coast in repair than you body.
3.the last step of insurance is claim or withdraw you payment if something happens on the insured thing.you can claim your price by insurance company.you tell the insurance company about what happened they check and investigate that you are right if all things are right than insurance pay the amount of protected thing or insured thing.
importance of insurance
there are many types of insurance almost all things are covered in insurance from your life to your assets
some insurance are necessary for us without motor insurance you cannot drive car.without building insurance you cannot buy home.
the main and important insurance are health and life insurance of your and your family.
suddenly if you drive car and you have injured accidentally and your car was also injured then you have suddenly suffered from many expenses but you have insure your car or health than insurance companies pays you amount for your claim.
1.health insurance
types of insurance
1.health insurance
2.life insurance
3.motor insurance
4.travel insurance
these are the main types of insurance
hello friends i am reading in 11th class.I am sharing my basic knowledge of insurance related information.in this blog i am sharing some information about insurance. so, friends keep visiting my blog.
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