What is life insurance? Why do life insurance?

Almost everyone now knows about insurance. However, there are still some people who do not know what is insurance or life insurance? There are some people who understand that insuring means that if you deposit some money monthly, the money is returned with interest according to the time, so what is life insurance in this article? (What Is Life Insurance?) And why do life insurance? I will discuss this.

What is insurance?

Insurance is a risky subsidy process by which you can get a subsidy from a specific private or government insurance company. Generally speaking, a monthly premium has to be paid to a particular insurance company for a particular item or person for a certain period of time. In the event of any loss or accident to the insured person, property, or thing during that period, the insurance company (institution) pays a single amount of compensation to avoid that situation.

How many types of insurance and what are they?

After knowing what is insurance, now it is necessary to know how many types of insurance and what are they? Then I will talk about this in this paragraph. There are two types of insurance. There are two types of insurance, 01) Life Insurance, 02) General Insurance.

What is Life Insurance? (What Is Life Insurance?)

Life Insurance is the traditional form of insurance, limited by the legal contract and terms of agreement between life insurance, the insured and the insurance company. Where after the sudden death of the insured his family gets a lump sum payment from the insurance company. The purpose of life insurance is to alleviate the financial burden of the person chosen by the insured after his death. But before you take out life insurance, you have to make a good deal. Life insurance is designed for you and your loved ones in the event of an accident or disaster or death.

Why do life insurance?

Now that you know what life insurance is, you also need to know why you take out life insurance. This paragraph speaks for itself. There are still a lot of people who think that insuring means unemployment costs. But we need to keep in mind that insurance is very important for survival. There is no guarantee that people will die as the days go by, so there is no such thing, so we should all have life insurance for this. Those who have only one family in their family and the family lives on that money, they must see the right plan without delay and must have life insurance.

None of us want to die or lose our loved ones but what can happen can no longer be prevented but with our little awareness the family will not have financial problems in our absence. It is not necessary that you have to insure with a lot of money premium, life insurance can be done for a small amount of money.

The amount of life insurance subsidy should be decided at the time of insurance. The higher the premium, the higher your subsidy. Remember that if you do life insurance, you will not get the money at the specified time, but your family will get the money at the specified time.

Hopefully, why do life insurance? You understand the answer to this question, so if you do not have life insurance, choose the plan of your choice today.

General Insurance

All insurance except life insurance is covered by general insurance and provides various types of subsidies such as,
01. Health Insurance

Simply put, health insurance means that the insured has to pay a fixed monthly premium to an insurance company for a fixed period of time. And if at that time the insured has any health problem, the insurance company will pay for the loss. However, how much money you will get as compensation depends on what kind of disease you have and how much money has been spent on curing the disease. One thing to keep in mind is that the more you pay a monthly premium, the more the insurance company will pay you for the treatment if your health deteriorates.

Remember, if you have a health cover of Rs 5 lakh per annum and your treatment costs Rs 10 lakh then the company will not pay you Rs 10 lakh.

Suppose again, even if your treatment costs Rs 1 lakh but the company will not pay you Rs 5 lakh, but if the health deteriorates again in that year and the cost is less than Rs 4 lakh then the company will bear it. Will be

Why do health insurance?

When it comes to why you should take out health insurance, it seems that I am right, just what it means to pay the insurance company, if you think so, then you are doing very wrong. A person must have health insurance because the disease cannot be understood or told from above. Who knows if you think you are healthy but you do not have any disease.

Let me give you an example. After my sister was diagnosed with cancer 4 years ago, this time we in the village have no idea about insurance, so there was no insurance. This time it cost about 7 lakh rupees to treat him.

And then if there was any health insurance in his name then there would be no problem with money. However, he was diagnosed with the disease in the first stage and is now healthy.

So it is important to have health insurance and life insurance. Many people think it is unnecessary to insure me but remember that you or I should not be told when the disease occurs.

Employees and businessmen in our country