What
is 'Insurance'?
Insurance is a contract, represented by a policy,
in which an individual or entity receives financial protection or reimbursement
against losses from an insurance company. The company pools clients' risks to
make payments more affordable for the insured.
Insurance policies are used to hedge against the
risk of financial losses, both big and small, that may result from damage to
the insured or her property, or from liability for damage or injury caused to a
third party.
Insurance
Policy Components:
When choosing a policy, it is important to
understand how insurance works. Three important components of insurance
policies are the premium, policy limit, and deductible. A firm understanding of
these concepts goes a long way in helping you choose the policy that best suits
your needs.
A policy's premium is its price, typically
expressed as a monthly cost. The premium is determined by the insurer based on
your or your business's risk profile, which may include creditworthiness.
For example, if you own several expensive automobiles and have a history of
reckless driving, you will likely pay more for an auto policy than someone with
a single mid-range sedan and a perfect driving record. However, different
insurers may charge different premiums for similar policies; so, finding the
price that is right for you requires some legwork.
The
policy limit is the maximum amount an insurer will pay under a policy for a
covered loss. Maximums may be set per period (e.g., annual or policy
term), per loss or injury, or over the life of the policy, also known as the
lifetime maximum. Typically, higher limits carry higher premiums.
For a general life insurance policy, the maximum amount the insurer will pay is
referred to as the face value, which is the amount paid to a beneficiary upon
the death of the insured.
Our Insurance
Product :
- Life Insurance
- Term Insurence
- Health Insurance (Mediclaim
Insurance)
- Personal
Accident insurance
- Motor Insurance
- Fire &
Burglary Insurance
- Shopkeepers
Insurance
- Travel
Insurance
What
is 'Insurance'?
Insurance is a contract, represented by a policy,
in which an individual or entity receives financial protection or reimbursement
against losses from an insurance company. The company pools clients' risks to
make payments more affordable for the insured.
Insurance policies are used to hedge against the
risk of financial losses, both big and small, that may result from damage to
the insured or her property, or from liability for damage or injury caused to a
third party.
Insurance
Policy Components:
When choosing a policy, it is important to
understand how insurance works. Three important components of insurance
policies are the premium, policy limit, and deductible. A firm understanding of
these concepts goes a long way in helping you choose the policy that best suits
your needs.
A policy's premium is its price, typically
expressed as a monthly cost. The premium is determined by the insurer based on
your or your business's risk profile, which may include creditworthiness.
For example, if you own several expensive automobiles and have a history of
reckless driving, you will likely pay more for an auto policy than someone with
a single mid-range sedan and a perfect driving record. However, different
insurers may charge different premiums for similar policies; so, finding the
price that is right for you requires some legwork.
The
policy limit is the maximum amount an insurer will pay under a policy for a
covered loss. Maximums may be set per period (e.g., annual or policy
term), per loss or injury, or over the life of the policy, also known as the
lifetime maximum. Typically, higher limits carry higher premiums.
For a general life insurance policy, the maximum amount the insurer will pay is
referred to as the face value, which is the amount paid to a beneficiary upon
the death of the insured.
Our Insurance
Product :
- Life Insurance
- Term Insurence
- Health Insurance (Mediclaim Insurance)
- Personal Accident insurance
- Motor Insurance
- Fire & Burglary Insurance
- Shopkeepers Insurance
- Travel Insurance
OUR INSURANCE PARTNER
Life Insurance Corporation of India (LICI) is a global Life Insurance company with headquarters in Mumbai, India. LICI operations cover over 14 countries in Asia, Europe, Africa and Oceania (Pacific). The company's present asset base is over US$270 billion making it one of the largest financial institutions. LICI has over 250 million customers served by nearly 3100 offices worldwide.
For information on LICI and its operations please visit: www.licindia.in
For information on LICI and its operations please visit: www.licindia.in
National Insurance Co. Ltd.(NICL)
NIC (National Insurance Company Ltd.) is India’s oldest general insurance Company. It was incorporated in Kolkata on 5th December, 1906 to fulfill the nationalist aspiration for Swaraj. 66 years later, after nationalization it was merged along with 21 foreign and 11 Indian companies to form National Insurance Company Ltd, one of the 4 subsidiaries of the Govt. owned General Insurance Corporation of India.
For information on NICL and its operations please visit: nationalinsuranceindia.nic.co.in
Apollo Munich Insurance Co. Ltd.
Quality healthcare and Apollo have become synonymous in the Indian
subcontinent, a fact reiterated by global healthcare experts and
international accreditation bodies. Committed to bring world class
health care within the reach of every individual, Apollo Hospitals
Group has joined hands with Munich Health, a world leader in the field
of health insurance. The joint venture is poised to make good the
conviction of both the partners that Indian health insurance market is
on the brink of explosive growth.
For information on Apollo Munich Health Insurance and its operations please visit: www.apollomunichinsurance.com
