An insurance policy is a plan that covers financial risks of a certain aspect of life. To get an insurance policy you need to pay a certain amount of money annual or monthly, which is known as a premium. The insurance company then pays you a bigger compensation amount in case you suffer some loss.

There are several types of insurance policies.

Life insurance

A life insurance policy covers life of an individual and pays a certain amount of money to the nearest relative of the insured. The amount of the money paid depends on the insurance policy, according to which the premium amount is fixed. To know more CLICK HERE

Health insurance

It offers protection in case of health related emergencies. In case of a sudden illness or accident, a health insurance policy takes care of medical costs including cost of medicine, hospitalization and treatment. To know more CLICK HERE

Car Insurance

A car insurance policy covers all financial risks related to your car. The policy covers risks related to accidents, theft and some other liabilities caused by an accident. The cost of a car accident may be very high depending of the severity of the accident. An individual without a car insurance may have to pay a lot. Many countries, including India, have made it mandatory to get car insurance at the time of the vehicle purchase itself. To know more CLICK HERE

Travel Insurance

A travel insurance policy covers risks when you are traveling. People mostly go for travel insurance when they need to make a foreign trip. The policy covers their emergency health related financial needs. It is wise to get travel insurance before going on a foreign trip as your risks may be high in an unknown land.