> What is Insurance? Explained - MoviesLab

Wednesday, November 6, 2019

What is Insurance? Explained

Insurance is a type of legal agreement between two parties, which is the insurance company (which provides insurance or insurance) and the second is the person (who accept or insured).

In this, the company promises sure that if something untoward event or unexpected happens, then the company is to take responsibility for everything. At the same time, all that have been damaged will be completed by the company itself.

Such incidents are called contingencies, because there is no cure for these events when they will happen. In this regard, the insurance company has to compensate all losses as promised earlier.

Principles Insurance - Insurance principles

When you buy insurance from the insurance company then the insurer (the company) and insured (which is) get a legal contract of insurance is called insurance policy.

This insurance policy contains all the details about that you should know, as all the conditions and circumstances under which the insurance company will pay the amount of insurance, if there is any loss of time, if you do not, then you Back candidate has.

Insurance is a very good way to protect yourself and your family from any financial loss. It has often been found that the higher the insurance coverage, the lower the premium. This is probably because very few people claim this type of insurance, but they have to pay all premiums for it. Therefore, the company has more benefits in it.

Any person or company can apply for insurance, but such insurance company decides what type of insurance to provide. To do this, the insurance company assesses your application thoroughly before making any decisions. Most of the time, company refuses to provide insurance to high-risk applicants.

With insurance, the point is that you have to choose the first thing on insurance needs.
After the insurer calculates its risk and only after checking everything, which indicates the amount of premium you have to pay.

1. Choose policy

An insurance policy is a document so that you have written all the details about it. At the same as what you get for safe and what is not.

2. Make Premium Pay

Prima is called the amount you pay every month or once a year in accordance with its policy. Its amount depends on what this insurance is covering.

3. Claim

If something bad happens within the period of insurance, or your nominee can claim your insurance. In this, you have to give details of their accident that checks the insurance company and if your claim is correct in all places then get the amount claimed as decided earlier.