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Basic Idea For Insurance Policy

Basic Idea For Insurance Policy

The word ‘Insurance’ is very common and well known in our life. At present time insurance becomes popular day by day all over the world. Insurance policy  mainly means of protection from financials loss. Insurance is a one kind of contract between the insurer and the policyholder. The term insurance is a form of risk management. Insurance primarily used to hedge against the risk of a certain loss.

There are several types of insurance at present world. Some of those are:

1.Life insurance

2.Property insurance

  1. Marine insurance
  2. Fire insurance

5.Liability insurance

  1. Guarantee insurance
  2. social insurance

Lets discuss about some well known types of insurance policy which are very popular in our daily life.

Best term insurance policy: If we talk about term insurance, we can say that term life insurance is financial protection for a set number of years. Term life insurance may be affordable option you need. The term insurance is a sensible choice for people who are building a family. There are a lots of term life insurance companies at present time but we can suggest you the best 5 term life insurance companies based on policy options, financial strenght and more.

The Best 5 Term life insurance Companies of 2020 are:

  1. Haven Life

2.New York Life

3.Northwestern Mutual

4.John Hancock

  1. Guardian Life

Health Insurance:  Health insurance is an insurance product which covers medical expenses of an isured individual. Health insurance should played a vital role in an individuals life. No one plans to get sick. Many people need medical treatment and cost suddenly. Health insurance covers these cost. Health insurance also offers many other important benefits. This insurance also protect you from unexpected, high and expensive medical cost. There are two main types of health insurance. Those are public health insurance and private health insurance. If we serial the largest health care insurance companies by membership the result is:

  1. United Healthcare Group
  2. Anthem
  3. Aetna
  4. Cigna
  5. Humana

Car Insurance: Care and vehicles insurance are also popular and very effective in our life. Now you can also buy car insurance from online. Geico, Alistate, progressive these are well known car insurance in USA.

Auto Insurance: This insurance is a contract between vehicle owner and the insurance company to mitigate costs associated with getting into an auto accident. Auto insurance provides you some financial protection in case of an accident. It protect the auto owner from the financial loss in the event of an accident or theft.

Auto insurance provides coverage for:

1.property

2.Liability

3.Medical

4.Emergency roadside assistance

5.Mechanical breakdown

There are many auto insurance companies. Some of the best auto insurance companies are:

1.Geico

2.State Farm

3.America Mutual

4.Travellers

5.Nationwide

Travel Insurance: Insurance in much more necessary on trips. Travel insurance covering unforeseen losses incurred while travelling. Travel insurance mainly covers medical emergencies, trip cancellation, delays, lost, damaged or stolen luggage. People can choose a large variety of travel insurance policies depending on their needs. Example:

*business travel insurance policy

*single trip

*annual

*couples travel insurance

*family travel insurance

*group cover

*specialist travel insurance

The best travel insurance companies of 2020 are:

  1. Travelex
  2. Allianz Travel Insurance
  3. HTH Travel Insurance
  4. GeoBlue
  5. World Nomads

Third party Insurance policy:

This insurance policy purchased for protection against the claim of another. It is a common types of automobile insurance all over the world. It is essentially a form of liability insurance. In third party insurance the first party is responsible for second and third party’s damages, regardless the cause of those damages. In third party insurance their are two types of automobile liability coverage. First, covers costs resulting from injuries to a person. Second, covers costs resulting from damages to or loss of property.

Permanent life insurance:  Permanent life is a term for life insurance policies that never expires. In term life insurance the insurance date will be expired but in permanent life insurance it has no limited time. Here are two types of permanent life insurance. Those are whole life, and universal life.

Here are the best whole life or permanent life insurance companies of 2020

  1. Northwestern Mutual
  2. Mass Mutual
  3. New York life
  4. State farm
  5. Guardian

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