Life Insurance Advisor in Ahmedabad

What is Insurance? Types of Insurance.

Insurance is a legal contract between two parties, i.e., an insurance company (the insurer) and an individual (the insured). Insurance is a way of managing your risk. When you buy insurance, you buy protection against unexpected financial loss. The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident occurs, you may be responsible for all related costs.

How work Insurance?  

The insurance company and the insured get a legal contract for insurance, called an insurance policy. An insurance policy contains details about the terms and conditions under which the insurance company will pay the sum assured to the insured person or their nominee.

Generally, insurance in India can be broadly divided into five categories:

  • Life Insurance
  • Health Insurance
  • Vehicle Insurance
  • Education Insurance
  • Home Insurance

Life Insurance:

Life insurance is purchased to cover medical expenses for expensive treatments. Different types of health insurance policies cover a range of diseases and ailments. You can buy general health insurance policies as well as policies for specific diseases.

Health Insurance:

Health insurance is purchased to cover medical expenses for expensive treatments. Different types of health insurance policies cover a range of diseases and ailments. You can buy general health insurance policies as well as policies for specific diseases. The premium paid for a health insurance policy usually covers the cost of treatment, hospitalization, and medicine.

Education Insurance

Child education insurance is similar to a life insurance policy that is specifically designed as a savings tool. Education insurance can be a great way to provide a lump sum when your child reaches higher education age and enrolls in college; these funds can then be used to pay for your child’s higher education expenses.

Contact us  

ANG Finverse is one of the Top Insurance Consultants in Ahmedabad. We also provide various financial services. If you still have any questions, place your queries, and the expert will pay heed to your questions and solve issues proactively.