Benefits of Insurance (Car, House, Health & Business)

22 December 2021

Benefits of Insurance (Car, House, Health & Business)

  Mgodin       22 December 2021

Benefits of Insurance (Car, House, Health & Business)

An insurance policy/plan is an contact between an individual (Policyholder) and an insurance company (Provider). Under the contract, you pay regular amounts of money (as premiums) to the insurer, and they pay you if the sum assured on unfortunate event arises, for example, untimely demise of the life insured, an accident, or damage to a house. Let’s know more about what is insurance and what are the various benefits, features & types of insurance available.

The following are the benefits of insurance ( car,House ,health and Business);-

1. Cover against Uncertainties

It is one of the most prominent and crucial benefits of insurance. The insured individual or organizations are indemnified under the insurance policies against losses. Buying the right type of insurance policy is indeed, a way to get protection against losses arising from different uncertainties in life.

2. Cash Flow Management

The uncertainty of paying for the losses incurred out of pocket has a significant impact on cash flow management. However, with an insurance policy by your side, you can tackle this uncertainty with ease. The chosen insurance provider pays in the event of happening of an insured event whenever they occur.

3. Investment Opportunities

Unit linked  insurance plan, , invest a part of the premium into several market linked funds. This way, they enables you to invest money regularly to benft of market linked returns and  fulfil your life goals.

4. Peace of Mind

The knowledge that Insurance exists to meet the financial consequences of certain risks, provides a form of peace of mind.


 

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