The entire natural cycle is now in an earthquake, flooding, reduced water reserves, and animals becoming homeless due to population stability. The nature balance is changing due to interviews like cloud seeding. Life is uncertain and needs to be insured in order to recover from premature death, loss, destruction, damage, etc. So what is insurance?
Insurance is just insurance that protects people from any type of risk and insecurity. Its main component is to share risks. It can be called a contract, in which the prescribed amount is paid so that the insurer can help the insured recover from the loss if any damage or risk occurs.
The institutions that help to gain this understanding are called insurance companies. Anyone who wants to complete insurance is called an insured/insured. The written contract between the parties is called a policy.
After a brief understanding of insurance, let's look at the different types of existence.
Life Insurance – The amount can only be paid within this coverage after the insured has died or the policy has expired, whichever occurs first. However, this is not a compensation bond, because losing a lifetime of life cannot be compensated, but a special amount can be paid.
Fire Insurance – This type of protection prevents all types of damage from fire. It is considered a compensation contract by which an insurance company can compensate for the losses incurred. Normally, this cover is only valid after one year and needs to be refurbished afterwards. We need to remember two things to declare this, they are:
• There should be a real loss
• The fire should be accidental, not intentional.
Marine Insurance – This is one of the oldest insurance covers all losses associated with marine exploration. In this type, the insurance company pays off part or all of the loss of the owner of the ship or cargo. This is also a compensation contract, and the insured can recover the actual amount of insurance within the maximum amount of the insurance amount.
After studying the various types, let us look at their importance, which will lead to tomorrow's security.
• Due to insurance, international trade has begun to reach its peak because marine insurance can withstand various risks associated with the ocean.
• Today, life insurance policies come in many forms and can be used to fulfill social obligations, education loans or marriage loans.
• The accumulation of premiums paid by large amounts of funds through the “insured” contributes to the capital base and an important factor in a country’s economic development.
• Insurance not only guarantees protection, but also is a good investment method, because insurance premiums are paid from time to time, and after payment, they are paid to the insured in one lump sum.
Therefore, a savvy step is to have a person insured and protected from any loss or horror that may be emotional or economic loss. Let us save a prosperous tomorrow today.Easy Accounting For Investment Clubs,Click here!