Basics of Insurance Planning
Insurance is a form of risk management and it is used to transfer of risk of death, cost of medical treatment, risk of bodily injury by accidents, theft of house hold articles etc by paying certain amount known as premium. Two types of insurance are available, life insurance and general insurance. General insurance covers health, motor, fire, marine and other non traditional insurance. The contracts of general insurance are for one year whereas life insurance contracts terms are more than a year. Why insurance / risk planning is important? Now a day’s everything is uncertain, nobody can see the future. If any unfortunate event will […]