Insurance is a means of protection from financial loss. It is a form of risk management.
Types of Insurance:
1. Life Insurance - Life Insurance refers to a policy or cover whereby the policyholder can ensure financial freedom for his/her family members after death.
2. Motor Insurance - Motor insurance refers to policies that offer financial assistance in the event of accidents involving your car or bike.
3. Health Insurance - Health insurance refers to a type of general insurance, which provides financial assistance to policyholders when they are admitted to hospitals for treatment.
4. Travel Insurance - When talking about the different types of insurance policies, one must not forget to learn more about travel insurance plans.
5. Property Insurance - Any building or immovable structure can be insured through property insurance plans. This can be either your residence or commercial space.
6. Mobile Insurance - Owing to the rising price of mobile phones and their several applications today, it has become imperative to insure the device.
7. Cycle Insurance - Bicycles are valuable properties in India as some people rely on these vehicles for their daily commute.
8. Bite-Size Insurance - Bite-sized insurance policies refer to sachet insurance plans that minimise your financial liability for a very limited tenure, generally up to a year.
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