Reasons For:
Insurance is identified as a way of managing risks. Insurance helps you own a home, maintain your current standard of living, cover health care costs, provide for family, take vacations and do much more.
By transferring a premium to the insurance company, the cost of a potential loss to the insurance company in exchanged for a fee.
Types of Insurance:
Insurance is identified as a way of managing risks. Insurance helps you own a home, maintain your current standard of living, cover health care costs, provide for family, take vacations and do much more.
By transferring a premium to the insurance company, the cost of a potential loss to the insurance company in exchanged for a fee.
Types of Insurance:
- Life insurance - the insurer promises to pay a designated sum of money in exchange for premium, upon the death of an insured person.
- Vehicle insurance - for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle.
- Health insurance - covers the whole or a part of the risk of a person incurring medical expenses.
- General insurance - typically defined as any insurance that is not determined to be life insurance.
- Travel insurance- covers medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while travelling.
- Home insurance - a type of insurance that covers a private residence
- Pet insurance - Pet insurance is designed to help cover unexpected veterinary expenses when your cat or dog is sick or injured.