Insurance Write for us – An all encompassing insurance knowledge website called insurance offers through instructions on numerous kinds of insurance coverage. Hence, Our professional writers compose blog pieces about numerous insurance policy related topics that are supported by extensive research.
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Furthermore, Insurance is a legal agreement between an insurer (insurance company) and an insured (individual), in which an insured receives financial protection from an insurer for losses he may suffer under specific circumstances.
Indeed, Under an insurance policy, the insured must pay a regular amount of premiums to the insurer. Hence, The insurer pays a predetermined sum insured to the insured if an unfortunate event occurs. So, such as the death of the insured, or damage to the insured or their property.
The literal meaning of insurance would be insurance against unforeseen and unfortunate losses. This means that if you encounter an unusual event in the normal course of your life and suffer a financial loss as a result, you can receive compensation.
For example, you were in an accident while driving to the office in his car and the car was damaged. Your insurer may reimburse the repair costs in this case. However, the insurer will not reimburse for normal wear and tear, such as a headlight that has stopped working.
Moreover, Legally, insurance has been defined as a contract in which the insurer agrees to indemnify the insured for losses suffered by any unforeseen event. Hence, The contract also has a counterpart called a premium. The maximum amount of benefit available is called the sum insured or sum assured.
Below are the main features of an insurance plan that you should consider:
There are many benefits of getting insurance and here are some of them:
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