Insurance Companies Making Provisions That Can Protect You And Your Families Even After Death
Man’s every activities completely depends not on himself, as no man seems to know tomorrow, this is more reason to consider “Insurance”. Insurance guarantees yours future, its protects your assets and sometimes managed them according to your insurance plan.
What is Insurance?
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter.
Insurance is also an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium chose by and individual or company.
Do I Need Insurance?
Yes, you need insurance. Insurance is for you, it’s for everyone it has no exemption, insurance has plans for all, plans that suits your choice of what you want it to cover. Insurance covers you when you’re broke, Insurance covers you when you’re sick, It protects you when you’re involved in an accident, Its cover your house when it’s collapsed or fight incident, Its protects your children in school, its covers your job and business, you need insurance in all you have to protect you.
Why Do I Need Insurance?
Insurance is a necessity as long as you’re alive, even after death insurance still covers you. During our daily routines, we face lots of challenges, some brings about casual which may result in death and serious damages, if you’re not insured, that means you’ve lost it all, but when you’re covered with insurance, you’ve nothing to panic as the insurance company will take care of the damages and compensate you duly. Insurance is risk manager.
What Kind of Insurance Suits Me?
Considering the kind of insurance that suits you perfectly, you must first understand the types of insurance available in your country or area and what you want to insure. Each type of insurance differs from one another and they work differently as well.
If you want to insure your life, you have to choose a life insurance, if its for your car, you chose a car insurance etc.
Types of Insurance.
The life and property of an individual are surrounded by the risk of death, disability or destruction. These risks may result in financial losses. Insurance is a prudent way to transfer such risks to an insurance company.
The Types of Insurance are?
- Life Insurance
- Home Insurance
- Car Insurance
- Health Insurance
- Education Insurance
How Does Insurance Work?
The insurer ( Insurance Company) and the insured (Individual) get a legal contract for the insurance, which is called the insurance policy. The insurance policy has details about the terms and conditions, the circumstances under which the insurance company will pay out the insurance amount to either the insured person or the nominees.
Insurance is a way of protecting yourself and your family from a financial loss. Generally, the premium for a big insurance cover is much lesser in terms of money paid. The insurance company takes this risk of providing a high cover for a small premium because very few insured people actually end up claiming the insurance. This is why you get insurance for a big amount at a low price.
Any individual or company can seek insurance from an insurance company, but the decision to provide insurance is at the discretion of the insurance company. The insurance company will evaluate the claim application to make a decision. Generally, insurance companies refuse to provide insurance to high-risk applicants.
In Conclusion, insurance policy can be bought but anyone so far you know the need. There’re insurance agents offline, like around your areas that can help you get and negotiate a better insurance policy that suits your plan. Online websites are also available for you to access on the internet.
You can contact us for a proper valuations and negotiations of your insurance policy.
By Monarch Odu