Insurance

Insurance is a contract, represented by policies which a policyholder receives financial protection or reimbursement against losses from an insurance company.

Most people generally have some kind of insurance for their bike, car, their house, or even for their life.

How insurance company make profit.

Most insurance company generate revenue in 2 ways: charging premiums in exchange for insurance coverage then reinvesting those premiums into other interest-generating assets.

Benefits of taking insurance.

1. Provides protection, insurance coverage reduce the impact of loss that one bears in perilous situation.

2. Insurance coverage provides a feeling of assurance to the policy holders.

Things to keep in mind while choosing right insurance company

When it comes to choosing an insurance company, it is about trusting an insurer with your hard earned money. In a country where there is less social security blanket, the insurance company you choose plays an important role in securing your and your’s family financial future. It is therefore imperative that you make an informed and prudent choice while pucking the right insurer.

You can see this 5 thing while choosing good company for your insurance.

1. The pricing

2. History

3. Size of the company

4. Service quality

5. Complaints and review

Written by - Aman Singh | LinkedIn