What is Insurance ?

INSURANCE
1. What is Insurance ?
2. What are the different insurance plans available/I can choose from ?
3. Insurance plan for financial Planning !


1. What is Insurance.
Insurance can be defined as “ A contract/agreement between two parties whereby one party called insurer undertakes in exchange for a fixed sum of money (premium in installments), to pay the other party called insured a fixed amount of money on occurrence of a certain defined event."


insurance can be seen as basically a security and protection cover that can be bought against a financial loss which can arise on the occurrence of an unexpected event including financial losses and damages. The cover 


2. What are the different insurance plans available/I can choose from.
Different insurance plans cover different aspects of our assets, following are some of the insurance plans that are available in the market.
Life Insurance
Medical Insurance/Health Insurance
General Insurance
Home Insurance, 
Travel Insurance
Vehicle Insurance
Term Plans
Endowment Plans
Group Insurance
Retirement Plans
Children's Plans
Wealth Plans


3. Insurance plan for financial Planning !
Life Insurance also plays a good role in your financial planning as apart from providing financial security cover it also ensures growth.

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