Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.
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Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance.
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The obvious and most important benefit of insurance is the payment of losses. The second benefit of insurance is managing cash flow uncertainty.
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1. Health Insurance 2. Car Insurance 3. Life Insurance 4. Home Insurance
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Six basic principles must be insurable interest, Utmost good faith, proximate cause, indemnity, subrogation and contribution.
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An education insurance provide a lump sum amount of money when your child reaches the age for higher education and gains entry into college (18 years and above)
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Life insurance is insurance on your life. You buy life insurance to make sure your dependents are financially secured in the event of your untimely demise.
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Life insurance premium of up to ₹1.5 lakh can be claimed as a tax-saving deduction under Section 80C
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–Medical insurance premium of up to ₹25,000 for yourself and your family and ₹25,000 for your parents tax-saving deduction under Section 80D
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The insurer and the insured get a legal contract for the insurance, which is called the insurance policy.
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Be it life insurance, health insurance or general insurance, you can buy an insurance policy offline as well as online.