What is Insurance?

Understanding Insurance

Insurance is a financial risk management tool designed to provide protection from financial losses. It serves as a safeguard against the risk of unexpected events, which can be quantified in financial terms. Essentially, insurance is a contract or policy through which an individual or entity obtains financial protection or reimbursement from an insurance company.

To choose the best insurance policy, focus on three key components: deductible, premium, and policy limit.

Insurance

Types of Insurance

Life Insurance

Life Insurance

Life Insurance is a policy where the insurer agrees to pay a sum of money to the policyholder's beneficiaries upon their death. This can also include critical illness or accidental death coverage. Premiums are paid regularly or as a lump sum, providing financial support to the insured’s family and possibly more benefits depending on the policy.

General Insurance

General Insurance covers non-life entities such as health expenses, automobiles, homes, and machinery. It provides financial protection against losses from specific events, unlike life insurance which focuses on life events. This type of insurance is essential for protecting physical assets and securing against various risks.

General Insurance

Benefits of Insurance

Financial Security

Insurance provides financial support and mitigates uncertainties throughout various stages of life.

Future Safety

Insurance helps safeguard your future by protecting you against potential financial disruptions.

Affordability

Insurance is highly affordable, allowing you to cover various entities with low premium rates and high coverage amounts.

Easy Process

Obtaining insurance is a straightforward process, whether you are familiar with it or not.

Wide Variety

Insurance comes in various forms to suit your needs, enabling you to protect valuable assets in the way that best fits your requirements.

Peace of Mind

Financial security against future uncertainties provides a greater peace of mind in your life.