Insurance refers to a contractual arrangement in which one party, i.e., the insurance company or the insurer, agrees to compensate the loss or damage sustained to another party, i.e. the insured, by paying a definite amount in exchange for an adequate consideration called a premium.
The insured receives a contract called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured. The amount of money charged by the insurer to the Policyholder for the coverage set forth in the insurance policy is called the premium.
Life Insurance
Life insurance is a contract where the insurer pays a designated beneficiary a sum upon the insured's death, in exchange for premiums.
Auto Insurance
Auto insurance is a contract that protects against financial loss from accidents or theft, with the insurer covering losses in exchange for premiums.
Personal Accident Insurance
Personal accident insurance provides financial protection against accidental injuries or death, offering compensation to the insured or beneficiaries.
Health Insurance
Health insurance covers medical and surgical expenses for the insured, either cashless payments or reimbursement based on the plan type.
