Types of Insurance

There are multiple types of insurance which help in covering almost each and entity present in our life, which provides great support to our day to day necessities. Applying for multiple insurances in different areas will help in ensuring that you are able to keep your belongings safe and in case of theft, damage or illness you are able to compensate for the loss. Some of the different types of Insurance policies are as follows:

Life Insurance:

It is the number 1 insurance policy opted by almost everyone across the world. This insurance policy helps in protecting your family members from unfortunate events such as disability due to an accident or death. In this insurance policy, you need to pay the premium according to the timeline or periodic table mentioned or in a lump sum amount.

Health Insurance:

This type of insurance policy helps in providing a proper health plan for you and your family. In case of mishap or accident, this policy will help in covering the cost of the hospital bills, medical bills and more. This policy is further divided according to the family health insurance, individual health insurance and senior citizen health insurance.

Car Insurance:

This insurance policy helps in ensuring that your car is being protected from unforeseen events. In case of accidents, dents and other issues which can cause damage to the car can be repaired with the premium of the insurance. This policy also helps the insured person against theft and fire as it also comes under unforeseen events.

Jewellery Insurance:

These days theft in houses has become a common problem. This policy was issued to solve the theft crisis. This policy helps in covering most of the amount of the jewellery stolen and the premium is paid as a part of the compensation to the insured person.

Travel Insurance:

Travel to the international city and losing the passport or falling sick can cause a lot of issues and can take a lot of money to get it solved. The travel insurance policy helps in ensuring that you will be taken care of in the best hospital without paying an extra dime to the hospital when you fall sick. In case of loss of passport the issue will be solved directly by the travel agency or the insurance agency to provide you with the alternate passport for the time being.

These are the top few insurance policies opted by the common people in a country. These policies help in ensuring that the compensation is paid for the loss they have witnessed and are able to recover most of the money lost in the process of the insurance premium payment.