Know the Several Types of Insurance

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Know the Several Types of Insurance – All of us are well accustomed to the term “insurance”. The term stands for insuring or giving cover to an individual or a group for a specific purpose. On the basis of the function, an insurance policy can be classified into several types. Let us study the types to get a detailed knowledge of the policies.

Home Insurance- our home protects us round the year, but it also needs protection against the rude side of nature. Home insurance can protect your residence from both natural disasters and man-made accidents. They offer a compensatory price for damage to property and life in the home.

Health Insurance- If you are taking a health insurance then that is going to give cover to you and your family. This can be on the basis of the type the health insurance is. This gives one the ability to fight sudden medical emergencies owing to hospital bills, medical expenses, specialist charges, etc
Personal Accident Insurance- This kind of cover is recommended to one to cope with accidental deaths. Life insurance already covers this part. But when a person gets disabled and losses his or her earning capacity either partially or totally, then the personal accident insurance can be helpful.

Motor Insurance- This protects one against vehicle damage and third party cases of accidents. You would have a mutual contract with the insuring company that on payment of a certain amount as premium, the company will pay you a certain amount if any accidents occur. This type of insurance offers medical coverage, liability and property damages. The property damage covers the theft or damage of the car and the liability coverage maintains the legal aspects in terms of property damage and bodily injuries.

Travel Insurance- As the name suggests the policies gives cover while one is on a trip. So, when you are on the trip all your worries will be taken care of by the insurance from sudden medical expenses to loss of passport, baggage, delay of flight, etc. You can have a safe and trouble-free journey with them.

Commercial Insurance- In a company there are several needs of insurance policies. Most companies have several policies that are specifically designed to protect the assets, vehicles, machines, business, employees and other unseen losses. These policies help them to fulfill the immediate requirements.

These are some of the most common types of insurance that one can find in the market. If you are in need, choose the one that best suits your requirements.

the following types of insurance in Indonesia:

1. Life Insurance This type of insurance is known to provide financial benefits to the insured for his death. The payment system for the type of Life Insurance was various. There are insurance companies that provide payment after death and others can allow the insured to claim funds before his death. Life insurance can buy for yourself and on behalf of the insured or for a third person. Even life insurance is also known to change in others. As an illustration, suppose a husband can buy life insurance that will benefit after the death of his wife. Parents can also insure themselves against the death of the child.

2. Health Insurance This type of insurance is also well known by the people of Indonesia. Health insurance is an insurance product that is responsible for the patient’s health and care process. Killing, the insured sick whose cost can be borne by the insurance company is injury, disability, illness, until death by accident. Health insurance can also be used for the benefit of the insured or third person. Private health insurance companies such as Prudential, Allianz, AIA, Cigna, and Manulife are part of a range of names that provide a variety of needs in accordance with the needs of the Indonesian people and are widespread throughout the world.

3. Vehicle Insurance The most popular vehicle insurance in Indonesia is a type of car insurance that focuses on the dependents of others or by the damage of others caused by the insured. This insurance also can to pay loss or damage to insured motor vehicle.

Vehicle insurance is one of general insurance products. The type of insurance that was carried out was the booming compilation that occurred in May 1998 riots because the events that made public interest in the ownership of protection for private vehicles increased drastically. financial site, already partnered with leading insurance in Indonesia and you can compare the best car insurance products with low prices. You can find out the insurance premium for your car below.

4. House and Property Ownership Insurance As a fairly valuable asset, the owner will provide homes and homes that can be used for homes and property. This insurance provides protection against conditions that may occur on certain items of the insured’s private property. This insurance also protects and provides relief of home or other insured property during a disaster such as a fire.

5. Education Insurance This is the most popular insurance and a favorite of policyholders. Educational insurance is the best alternative and better solution especially on child education assets. The premium costs to be paid to insurance companies vary according to the level of education you want to obtain later.

Understanding the latest use of education for children is something of concern to the elderly. The high cost of education and other conditions that worsen the economy such as the weakening of our currency against the US dollar on the cost of educating children later. Money that this obviously will incriminate parents, it is not uncommon for parents now choose to have education insurance.

6. Business Insurance This Insurance is a service to protect against the damage, loss, and loss of a large amount that may occur in one’s business. This insurance provides replacement of damage caused by fire, explosion, earthquake, lightning, flood, hurricane, rain, crash, until riot. Insurance companies usually provide a variety of benefits for businesses
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