Insurance policies come in a wide variety of shapes and sizes. Learn about the policies that you must have, to get protection against insured perils.

2. Insurance is one of the prerequisites needed to ensure one’s
financial security. Available in the form of life and general
insurance plans/policies, each plan is intended for a different
purpose. Comprising a gamut of different policies, it
occupies a significant position in the lives of people across
the world.
While protection for one’s life is known to financially protect
a person against the risk of death; the latter protects
him/her against the risks associated with the
damage/destruction of non-life objects; e.g. car, home etc.
Finding the best insurance policy in India depends on one’s
requirement and budget. It is easy to compare the different
policies online from different portals.
General insurance is known to be a broad umbrella
term that encompasses different types of policies.

3. Known to refer to an agreement between an individual and a
particular provider whereby coverage is provided, there are
many different plans that are aimed at different ages.

4. These plans refer to the financial protection of the vehicle
against the loss due to theft or traffic collisions. It provided
financial protection against physical damage/bodily injury
and liability that may arise.

5. These covers provide financial protection and coverage for a
person’s medical expenses, health, trip interruption, trip
cancellation; loss of baggage, passport or other travel
related problems. While there are many inclusions for these
policies there are also many different exclusions’ for which
there is no protection.

6. Also known as homeowner or hazard plan, it is a type of
property insurance that covers a private residence against
any uncertainties, mishaps or damages.