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Insurance meaning and required for life

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Insurance is the process of providing the money in terms of your losses. Life isn’t greater than money but it can reduce the pain in the family by supporting with the material basis. Life is full of uncertainty which means if ur walking today but you may sit in a wheelchair tomorrow and there is no one to look at your family which means that transferring all your risks into an insurance company in which you had done insurance before. You can’t get the thing that u had lost but you can get the compassion that helps for the rest of your life simple.

In the market, there are many insurance companies, and they also have their insurance agent who provides knowledge about their insurance policies. A real estate broker is a step above a real estate agent. A broker generally has more training and subject-matter education than an agent, but not always. … In California, for instance, a broker’s license is required to work by yourself. Agents have to work for brokers, but a broker can run their own business. We can also find an insurance broker who gives you the best suggestion for the insurance companies and they charge some amount for the settlement of your insurance. Some of the best insurance companies in Nepal are Nepal Life Insurance Company Ltd, , Asian Life Insurance Co. Ltd, LIC Life Insurance Corporation Nepal Ltd, IME Life Insurance Company Limited, and more are available.

 Types Of Insurance and there Important in Life

1.Health insurance

In simple form, health insurance refers to the expenses that you are going to do in health. For example- if you had done health insurance and suddenly you know that ur suffering from a kidney problem or anything else then you can claim the insurance company for the amount needed for the change of the kidney. Nowadays many insurance companies provide health services but some are good and some are low. So, it’s your choice to choose the better one with the help of an insurance broker or insurance agent.

2.Life insurance

It is the agreement between the insurance company holder and the insurance company. In the insurance, there will be a person who is a relative of the insurance holder who claims the insurance in case of death of the insurance holder. For example- in the family, there are father, mother, and son, the father had done life insurance. Due to some accident, the father is dead, now the mother will receive the amount from the insurance company as compassion for the death of her husband which help her for a better life for her.

3.Disability insurance

It is the type of insurance that provides money if you become disabled due to some causes such as disease, accident, or more. For example- a person had done disability insurance and he lost his legs due to the accident, then he/she will receive the amount from the insurance companies.

4.Homeowner and Renters insurance

This insurance isn’t compulsory to do but it is done mostly in the foreign country because in a foreign country the owner of the house gave their second house in rent and due to some causes if there is any damage in the house then the owner can claim for the damage of the house to the insurance company.

5. vehicle insurance

vehicle insurance is compulsory insurance because a vehicle is a luxury item which is very expensive if it damage, theif, hit someone so, it’s better to do insurance while buying this item. Nowadays there is also the insurance of live third party insurance which means if someone got injuries from the vehicle the risk will be taken by the insurance some which will not give you the tension of that accident. Even in this insurance, you can claim if something happened to your vehicle which can be a car, truck, bike, bus, etc.

 

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