Insurance in English | What is insurance? Complete information


All types of insurance in English 

Insurance
What is insurance And how many types are there. insurance info in English 
If you want to know this. What is insurance and what type of it is. And what is the benefit of all. And if you want to insure yourself, your family, house, and car etc. So this post is going to be very useful for you. After the whole post, you will be able to know what is insurance and why should it be done?
What is insurance? What is insurance in English 
If you understand in easy language, the meaning of insurance is - a system in which any one insurance company guarantees compensation to you in any kind of loss, illness, accident or death, then insurance
helps in every situation. : After the incident, it is very important for everyone. Who knows what has happened in this crowded life today. In such a situation, if you have insured your valuable things, then it works like a backup help for you. how? We will tell you about it further.
Types and advantages of insurance. Type of insurance with benefit in English 
Different types of insurance have different advantages. Below are some important types of insurance and benefits.
Life insurance
Life insurance


In the case of a life insurance scheme or Life Insurance, after the death of the person making a policy by depositing a fixed price, money is paid to the nominee of that person as per the terms and conditions of the policy.
People make this policy as a support money especially for their family as there is no trust in life, so most people adopt this policy so that after their death their family gets some help in the matter of money. In easy language -  the subject matter of insurance here is the life of a human being. The insurer shall pay a fixed amount of insurance at the time of death or at the end of the fixed term. Currently, the number of life insurance is the highest. Because life is the most important asset of a person. Everyone needs insurance. This insurance provides protection against premature death to the family or a substantial amount in old age when work capacity is low.



Under personal insurance, payment is made in an accident. Insurance is not only a security but also a type of investment as a certain sum of money is returned to the insured at the end of the death or term.


2. General Insurance


General insurance includes property insurance, liability insurance, and other forms of insurance. Fire and marine insurance is strictly called property insurance. Motor, theft, loyalty and machine insurance to some extent include liability insurance.

A strict form of liability insurance is loyalty insurance, whereby the insurer compensated the insured for the loss when it is subject to liability to be paid to the third party.


3. Property insurance / property insurance



Under the property the insured property of the person / s is insured against a certain specified risk. Risks can cause damage to property in a fire or maritime hazard, property theft or accident.

4. Marine Insurance



Marine insurance provides protection against loss of marine hazards. Marine hazards are collisions with a rock, or ship, captured by enemies, fire, and pirates, etc. These hazards do not cause the ship, cargo and cargo to move and disappear.
So, marine insurance ship (hull), cargo, and freight 
Earlier only some minor risks were insured but now the scope of marine insurance was divided into two parts; Ocean Maritime Insurance and Inland Maritime Insurance. The former insures only maritime hazards, while the latter covers insured hazards and may extend to the receipt of cargo by the buyer (the importer). 

5. Fire Insurance



Fire insurance includes a fire hazard. In the absence of fire insurance, fire waste will increase not only to the individual but also to the society. With the help of fire insurance, the loss arising due to fire is compensated and the society is not losing much. A person is given priority over such a loss and his property or business or industry will remain in almost the same condition in which it was before the loss. Fire insurance does not only protect the losses, but it also provides some consequential losses, war insurance, upheavals, riots etc. can also be insured under this insurance.

6. Social Insurance

Social insurance is to provide protection to the weaker sections of the society who are unable to pay the premium for adequate insurance. Pension schemes, disability benefits, unemployment benefits, sickness insurance, and industrial insurance are various forms of social insurance.
What is insurance And how many types are there. insurance info in English