What is insurance and how many types of insurance.

What is insurance and how many types of insurance.
What is insurance and how many types of insurance.

What is insurance and what are the types of insurance

Hello friends, welcome you all once again in a new post and in today's post we will know what is insurance and how many types of insurance are there.

What is insurance ?

Insurance is a type of weapon to deal with future losses. We do not know what is going to happen in the future, so we compensate for future losses by insurance policy.

Insurance means protection from risk. If an insurance company insures any person, then the insurance company compensates for the financial loss caused to the person.

If the insurance company insured a car, house or smartphone, then in the event of breakdown, break, loss or damage, the insurance company gives compensation to its owner according to the pre-fixed condition.

What are the different types of insurance?

There are generally 2 types of insurance

  1. Life insurance
  2. General insurance

1. Life insurance

Life insurance means that if something happens to the person who has taken the insurance, then the insurance company pays compensation to the dependent of that person.

2. General insurance

General insurance includes home, animals, vehicles, crops, health, etc.

  • Home insurance

If you insure your house and later your home is damaged, then the insurance company pays for it

  • vehicle insurance

If you insure your vehicle and later any damage occurs to your vehicle, then the insurance company gives compensation to it. It is very important to insure the vehicle. If you have not insured your vehicle, then the traffic police can stop you and stop the movement. is

● travel insurance
● Crop Insurance
● Health insurance

Friends, here we have told us what is insurance and how many types of insurance are there, how did you like our post, do tell us in comments and do not forget to share it with your friends.


Visit Also :-

What should you keep in mind while taking a personal loan?




2 Comments

Post a Comment

Previous Post Next Post