Insurance means giving assurance against the miss happenings which can crop up in the future. Today’s world is so unpredictable that at any point of time anything can happen. To safeguard you against any calamities or your house, office, kids, or even your car we have insurance. Presenting to you the various types of insurance
• Life Insurance
• Property Insurance
• Child Insurance
• Vehicle Insurance
Life Insurance
Life insurance provides a monetary benefit to a decedent’s family or other designated beneficiary, and may specifically provide for income to an insured person’s family, burial, funeral and other final expenses. Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or annuity. Certain life insurance contracts accumulate cash values, which may be taken by the insured if the policy is surrendered or which may be borrowed against. Some policies, such as annuities and endowment policies, are financial instruments to accumulate or liquidate wealth when it is needed.
Property Insurance
Property insurance provides protection against risks to property, such as fire, theft or weather damage. This may include specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, inland marine insurance or boiler insurance. Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property.
Child Insurance
Child life insurance is a form of permanent life insurance that insures the life of a minor. It is usually purchased to protect a family against the sudden and unexpected costs of a child’s funeral or burial and to secure inexpensive and guaranteed insurance for the lifetime of the child. It offers guaranteed growth of cash value, which some carriers allow to be withdrawn (collapsing the policy) when the child is in their early twenties. Child life insurance policies typically offer the owner the option to purchase, or in some cases obtain additional guaranteed insurance when the child reaches maturity.
Vehicle Insurance
Vehicle insurance (also known as auto insurance, gap insurance, car insurance, or motor insurance) is insurance purchased for cars, trucks, motorcycles and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise there from. The specific terms of vehicle insurance vary with legal regulations in each region.
