The importance of insurance and its features

The potential loss to be suffered and the compensation to the dependents of such employee require an adequate provision which is met by purchasing adequate life-policies.

Importance of Health Insurance and Its Features

Most Indians face the common situation when they do not have adequate cash to deal with a sudden medical emergency. The insurance provides safety and security against the loss of earning at death or in golden age, against the loss at fire, against the loss at damage, destruction or disappearance of property, goods, furniture and machines, etc.

You need to read the terms and conditions or call the customer support representative to get a clearer picture. Various policies also offer exclusive benefits, which include: Insurance is an important risk mitigation device.

After education, settlement of children takes time and in absence of adequate funds, the children cannot be well placed and all the education go to waste. This allows you to receive treatment in a hospital which is registered with the health insurance company without paying the bills upfront.

After you have bought a health insurance policy, not only will it bring peace of mind but also you can avail the tax benefits under section 80D of the Income Tax Act, It provides a sense of security.

When a person takes life insurance, he nominates his dependents to receive the policy amount in the event of his death, prior to the stipulated or agreed period. The insurance industries develop financial institutions and reduce uncertainties by improving financial resources.

This facility helps tremendously when a policy holder falls under medical emergency which requires immediate medical attention. Insurance companies provide the required funds for infrastructure development.

The employees will devote their maximum capacities to complete their jobs when they are assured of the above benefits. Some may cover accidents whereas some may not. A large number of persons get insurance policies and pay premium to the insurer.

Insurance plays a key role in mitigation of risks. Similarly in business, too, the property and human material are protected against certain losses; capital and credit are expanded with the help of insurance.

This amount varies from policy to policy. These policies prove to be quite beneficial if purchased along with the health insurance offered by the employer.


Insurance works on the principle of pooling of risks and distributes risks over many people. Most Indians face the common situation when they do not have adequate cash to deal with a sudden medical emergency. These funds are gainfully employed in industrial development of a country for generating more funds and utilised for the economic development of the country.

Importance of health Insurance Features: We should buy health insurance after checking features and coverage only. A wrong feature will cost you more. Importance of Health Insurance & Its features. Insurance Insurance is a very important aspect to consider when you are housing merchandise for a business.

The purpose of insurance is to protect against loss. Premiums are set based on the amount of risk involved and the amount to be paid in case of a loss.

The kind of insurance that we a.

The importance of insurance and its features

Health insurance and its importance. Insurances. a las hs 0 0 0. The agents whose purpose is to offer an efficient health system, usually tend to cost very high amounts of money, Health Insurance Features.

The importance of insurance and its features

Health insurance is a necessity rather than a luxury. Although it is a necessity for every individual, urban individuals need it more. It is because the busy schedules, stress, rising pollution levels and lack of physical work makes them prone to diseases.

What is its purpose and Explain the basic features of each A products features are not the same as their benefits It is important to understand this so that you can effectively and accurately market your products Its The market structure of the health insurance and hospital Many features of the health insurance the meaning of european.

Reinsurance is insurance that is purchased by an insurance company. In the classic case, reinsurance allows insurance companies to remain solvent after major claims events, such as major disasters like hurricanes and wildfires.

Importance of Health Insurance and Its Features The importance of insurance and its features
Rated 4/5 based on 32 review
The importance of insurance and its features