types of insurance policies pdf

The policy is generally issued for one year. Government Employer provided insurance is an employee benefit. endstream endobj 1106 0 obj <>stream %PDF-1.6 %�� 1105 0 obj <>stream 1 TYPES OF INSURANCE PLANS STAKEHOLDERS/PARTIES TO THE CONTRACT 2 UNIT-LINKED AND INVESTMENT SPECIFIC 10 3 POLICY BENEFITS POLICY FEATURES 5 8 OTHER INSURANCE SPECIFIC CONTENTS . The extra information is provided through the internet via various sites. Contents1 INTRODUCTION:2 AIMS AND OBJECTIVES:3 METHOD AND METHODOLOGY:4 DETAIL REPORT OF PROJECT:4.1 What is the …. The insurable value of the policy includes the price of the insured's property, investment price, incidental expenditure, and all the expenditure as well. Employer 3. The most common insurance policy is the life insurance policy. Notify me of follow-up comments by email. S��s�b,�#�� %bb��I��)�W��)@G!�&)��R1>d� T ��f �G��@.�O�\��5UL�Se��h��0�KLe��4g˘P9��20�@C�� uU^!�B�d�VLHKmS�)I`]n�%nХ8-3T��A�E�"sr)��$!1�� p�%�y��E�qaE��$��̸��0�Mp'�% j�P�Wh��]�N(͌"h� ��6�[E7��ȥ�Y�� a*��B�A� �-'�) ��-� Lastly, to conclude my findings in this project, I would like to start a single insurance policy now that I know the benefits and importance of it. (i) Life Insurance (ii) Fire Insurance (iii) Marine Insurance, and (iv)Other types such as burglary insurance, motor vehicle insurance, etc. Time policies may sometimes be issued for more than a year or they may be extended beyond a year to enable a ship to complete a voyage. Coinsurance is when you pay a … It should specifically offer for financial gain to an insured person’s family, burial, ceremonial occasion, and alternative final expenses. The words ‘insure’ … Continue reading The Types of Non-Life Insurance and Which One You Need Life insurance provides a financial profit to a decedent’s family or selected beneficiary. The objective of this project is to understand the various types of insurance policies; to understand the benefits of insurance policies. There are many different types of health insurance plans available. endstream endobj 1113 0 obj <>stream Marine Insurance. The objective of insurance is to protect against uncertain life incidences financially. There’s lots of insurance you might not need, such as: Flight Insurance: Flying is one of the safest modes of travel. Features 1: Term Life Insurance. Required fields are marked *. Convertible whole life insurance policy: It is that type of policy which can be converted to endowment life insurance policy after a certain time. Liability policies usually cover the negligence of the insured solely, and can not apply to results of willful or intentional acts by the insured. 7 Types of Insurance are; Life Insurance or Personal Insurance, Property Insurance, Marine Insurance, Fire Insurance, Liability Insurance, Guarantee Insurance. Describe the factors in buying health insurance. 3: Endowment Plans. Money back plans are also eligible to receive the bonuses declared by the company from time to time. This might embrace specialized kinds of insurance like insurance, flood insurance, earthquake insurance, home insurance, inland marine insurance, or boiler insurance. In general, there are 2 major types of insurance - general insurance and life insurance. (ii) Policies that will promote enabling and catalytic roles of governments (iii) Policies that improve the use of existing capacities for the betterment of the environment (infrastructure, institutional mechanisms) (iv) Policies that harness synergies of the various stakeholders and among countries . In the sections below, we’ll review the basics of construction insurance, the most common types of policies available, and when those policies would apply. �7cÀ�fp�nY?�vy2{��O� ; �rX�uff��`\��.}��W�)�%? Many sorts of insurance embody a facet of liability coverage. Health insurances are types of insurance policies that ensure that you have somewhere to get money from if you get sick or have medical problems. The objective of this project is to gather information on various types of insurance policies and to understand them. Life Insurance: Term Life Money-back Policy ULIP Pension Plans Explain Comprehen sive Insurance Policy. 2: Whole Life Policy. Annuities and pensions that pay a profit for all times are generally considered insurance against the chance that a retired person can outlast his or her monetary resources. After intensive research, we managed to make a list of various policies which are given below: Specific types of risk that will produce claims are referred to as perils. In this type of marine insurance policy, the value of the cargo and consignment is not put down in the policy beforehand. Every single person I discussed this topic with said they had a life insurance policy. Consumers should always purchase cover appropriate to their level of risk. Insurance can be provided to an individual from any of these three sources: Why do insurance policies include deductibles and co‐insurance? �-U e�XѦ�c�Z^ This way, policyholder can meet short-term financial goals. Explain the risks covered under Motor Vehicle Insurance 2. endstream endobj 1114 0 obj <>stream Property Insurance. The most common types of insurance policies are health insurance, life insurance, property insurance, and auto insurance. endstream endobj 1112 0 obj <>stream This type of policy is suitable for full insurance. endstream endobj 1118 0 obj <>stream endstream endobj 1115 0 obj <>stream Customers should read the contract or policy thoroughly before signing anything. endstream endobj 1119 0 obj <>stream The patient and his/her family choose the plan that best fits their specific needs, budget, and lifestyle. Total permanent disability insurance provides advantages once an individual is for good disabled and might not work in their profession, usually taken as an adjunct to life assurance. h�27W0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv ��> Money back plan is a unique type of life insurance policy, wherein a percentage of the sum assured is paid back to the insured on periodic intervals as survival benefit. Private insurance plans, by contrast, are all types of coverage offered by private corporations or organizations. Objectives: A. The policy is mostly an integrated contract, which means that it includes all forms related to the agreement between the insured and insurance firm. In insurance, the policy is a contract (generally a typical kind contract) between the insurance firm and the insured, referred to as the policyholder, which determines the claims that the insurance firm is lawfully required to pay. Products vary between companies, and consumers should always read their Product Disclosure Statement (PDS) before they purchase cover. The most basic function of an insurance policy is to help us stay financially secured at the times of windfall. There are many types of insurance, almost more than you can list. Medi-Claim Insurance After studying this topic the learners Sometimes a distinction is made between public and private insurance. Made With ♥ By A Person Who Understands Your Pain. https://en.wikipedia.org/wiki/Insurance_policy, https://work.chron.com/insurance-objectives-23793.html, https://www.policyholderpulse.com/insurance-analysis-multinational-companies/, https://www.quora.com/When-is-life-insurance-a-good-idea-and-when-is-it-a-bad-idea. endstream endobj 1108 0 obj <>stream h�27T0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv �h8 Counting on the company’s specific policies, it would or won’t cover the deductible likewise. The protection offered by a liability insurance policy is twofold: a legal defense within the event of a legal proceeding commenced against the client and indemnification (payment on behalf of the insured) about a settlement or court finding. Long-term disability insurance covers a person’s expenses for the long run, up till they’re thought-about for good disabled and thenceforth Insurance firms can usually try and encourage the person back into employment in preference to and before declaring them unable to figure the least bit and thus totally disabled. hޤ�mK�0ǿʽT�H��!�� )c/Bwl�4]��6�b�c*��{�믂��@x�)�� L�_pM��RL&C`�/s��)��H�.Pm�� ,u��iHb-7{��Ĺ��a��2?�zУ��j�2S��$.�y��$�[��S�ܬO�9��=��LfH׷��t��a��&�@�n�+��c]]ԫ{��Z��-fwnKr��j��V��r�~��~�Ƀ7x�=�Ƀ�ѣ��o��˷x��3�nw�e�8�#-�Pxm��m�p�xp��E�C��U��k��pԌ1f�A��t�$�_�p�Z��/V.�V�mX��]��Q�[,��%�w_/b'A5׺r��Կ91�oJ��7 M.\ represents all types of insurance and reinsurance undertakings, eg pan-European companies, monoliners, mutuals and SMEs. A few are listed below: My profound gratitude to all the faculty members of the Department, for their timely assistance and encouragement throughout my research work. General: Health Insurance Motor Insurance Travel Insurance Home Insurance Fire Insurance 2. In most countries, health insurance is commonly a part of an employer’s advantages. The policy pays the policyholder for lined assets if the debtor defaults on payment. The more I discussed this topic, and it only yielded me in-depth information about insurance policies. C. Describe the factors in buying life insurance. The quantity of your premiums relies on your coverage desires, your personal history, and in some cases, your age, health, and even where you reside. Crime insurance is a variety of casualty insurance that covers the customer against losses arising from the criminal acts of third parties. hޜ�[o�8�� Intensive research about the insurance policy and different types of it is done using the internet. Children have no income. Type of Insurance Policy. h޲0P0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv �i8 Mortgage insurance is a sort of credit insurance, though the name “credit insurance” more often is employed to consult with policies that cover different kinds of debt. Motor insurance is just like any other insurance policy, but unlike other insurances, it is ‘Mandatory'! It means that the policy amount will be paid at the death of the life assured. Vehicle insurance protects the customer against financial loss within the event of an event involving a vehicle they own, like during a traffic collision. However, many automobile insurance corporations provide this coverage to customers as well. Internet research about this project lead to a sort of survey of various insurance policies, various financial firms offering the policy at various rates. Instead, you must know how each of … Collateral protection insurance (CPI) insures property (primarily vehicles) held as collateral for loans created by disposal establishments. Mortgage insurance insures the investor against default by the receiver. The policy remains in force throughout the life of the assured and he continues to pay the premium till his death. Risk Insurance Act 2002 (TRIA) found out a federal program providing a clear system of shared public and personal compensation for insured losses ensuing from acts of terrorism. Whole-life polices are issued for life. �DY��$Q֍�I�H 虐�0I��Q�L]x@$ 8R�L��~)�Vօ�}-��qօ��H��AE�hC=]�?� �F��d!�� D�X��|��' g��)�wEJX�a��2S��1sY��P+R�f��2@V��{2�$ �Fd��- ��BÐVi��q��5:��N#�Ȅh�E�H�o*�_�&�E�K��5L��K�.��&�l��.�0��-s`SD��B� mS)�O�ՠα��誁lAW �^Ʃ��.��>0ay§��q�ST�C�+k�U)nSE��ˀ ��,��L`B�$�d� ��Y�$��ɢ`/��6� 䵁��o��Ȗ�nS�PD`��S�e��I��V Insurance contracts are designed to fulfill specific wants and therefore have several features not found in several alternative kinds of contracts. Explain Third Party Insurance and the reason of it being mandatory 3. Life Insurance for Kids: Life insurance exists to replace lost income. h޲0T0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv ��9 endstream endobj 1117 0 obj <>stream This coverage is marketed for people who place low down payments, have high-interest rates on their loans, and people with 60-month or longer terms. endstream endobj 1121 0 obj <>stream h�2�P0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv ��> �G��\�"Џ(�S�yo��W�%R�m��T�ɋƬ+yѵn2��ψҠ ��!�CP/̺nv'��l�5��˺� endstream endobj 1107 0 obj <>stream As an example, an organization will get crime insurance to cover losses arising from theft or defalcation. Since these policies are of standard forms, they feature different types of insurance policies, some of which are listed below. *�%�e�C�y ;�4/�C@/�FT�K�t(�%�:��@Z��xp@��|@��a�),P�À�y��*�%p�� 1�(�a��+��x0G #��(�a�6/�Sr8%< o��c%pJx�M ��%�Hy�M)�)�a�#;�a�8�G`�S��.xH��N))Q��@J��0�e�D�_k2r��p�x~*��l)�a [�yȖr�ű�K��02��a [�yH��#0�pi�$��o��y A��y�&�y A��y A��L�gJz�b��[��~��G��]�ǛT^mד�[��G� uv� Term insurance is the most basic type of life insurance. A copay is a flat fee, such as $15, that you pay when you get care. Gap insurance covers the surplus quantity on your loan in an instance where your insurance firm doesn’t cover the complete loan. And, as the name suggests, it is an insurance that is related to all types of motor vehicles-motorcycles, cars, jeeps, commercial vehicles etc. �F@�24��4�P�`��#Se��!�C,4��hB�F� �]=� Final Expense and Burial Insurance are both types of whole life insurance policies that focus on people between the ages of 50 to 85. Guilds within the Middle Ages served the same purpose, as did friendly societies throughout Victorian times. h�2�T0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv �@ Customers should be made aware of the newest policies available on the market. The world we tend to live in is filled with uncertainties and risks. Insurance are to, you guessed it, ‘insure’ the policy owner and his beneficiaries – to protect (through monetary compensation) in the event of an unfortunate event such as an accident. Within us within the wake of 9/11, the act of terrorism. (ii) continuous premium, payment or (iii) limited premium. Dental insurance, like medical insurance, protects policyholders for rental prices. Since insurance policies are standard forms, they feature boilerplate language that is comparable across a large variety of different types of insurance policies. h�27Q0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv �; The policy is written for the term of the policy, usu-ally from one to 30 years. These embody the risk of losses of life, health, assets, property, etc.. Some policies, like annuities and endowment policies, are money instruments to accumulate or liquidate wealth once it’s required. The life insurance policies are of many types. Kidnap, and ransom insurance is intended to safeguard people and companies operative in risky areas around the world against the perils of abducting, extortion, wrongful detention, and hijacking. In most states, an individual cannot purchase a policy on another person without their information. The Greeks and Romans introduced burial insurance 600 cr once they organized guilds known as “benevolent societies” that cared for the existing families and paid ceremonial occasion expenses of members upon death. Below are non-exhaustive lists of the different kinds of insurance that exist. Whether it is health, disability, life, homeowners, renters, or auto insurance, understanding how insurance companies calculate risk and the standard features of insurance policies will help you make the best choices for your personal needs. 1. Endowment plans pay out the … A method used to make this project is a research method. TYPES OF INSURANCE PLANS TERM INSURANCE: A basic Insurance Plan which provides a Lump Sum amount to the family of the person who is Insured in case of his/her unfortunate death. AN insurance policy can begin thoroughly in which the policy lines perils, and that isn’t. What is co‐insurance? Accidental Death Insurance: Even the accident-prone should skip this type of insurance. In short, after you get an insurance policy, you make monthly payments, referred to as premiums, to buy protection from financial repercussions associated with things like accidents, health problems, or perhaps death. Valued Policy. Innovative Elements of Macro Policies 1. Broadly, there are 8 types of insurance, namely: Life Insurance; Motor insurance; Health insurance; Travel insurance; Property insurance; Mobile insurance; Cycle insurance; Bite-size insurance; Simply knowing the various insurance policies does not help. General insurance is broadly defined as non-life insurance policies. There is a wide range of insurance policies, each aimed at safeguarding certain aspects of your health or assets. 7 Types of Insurance. However, some other types of insurance are available as well. We will talk about Different Types Of Insurance Policies. It’s a broad spectrum of insurance that a variety of alternative sorts of insurance may be classified, like an automobile, employee compensation, and a few liability insurances. Burial insurance may be a very old sort of insurance that is paid out upon death to cover final expenses, like the value of a ceremonial occasion. It gives me immense pleasure to take the opportunity to all the people who are directly or indirectly involved in the completion of my project based on Different Types Of Insurance Policies. Your email address will not be published. This might embrace specialized kinds of insurance like insurance, flood insurance, earthquake insurance, home insurance, inland marine insurance, or boiler insurance. Liability insurance could be a very broad superset that covers legal claims against the insured. The 15 types of fire insurance policies are explained below; 1. Insurance policies should be made, keeping in mind the lower class of people with very little income as well. In India, a time policy is not issued for more than a year. I duly acknowledge the encouragement and support from the research scholars in the department, and all my colleagues and friends. Describe the factors in buying automobile insurance. h�2�P0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv ��? What is an employee benefit? Life Insurance or Personal Insurance. Purti_V December 28, 2018 11th Commerce, Organization of Commerce 2 Comments. I got my assignment with a perfect manner…, Your email address will not be published. The idea is to use these policies for your final expenses or burial and usually nothing more. People, families, businesses, properties, and assets are exposed to different types and levels of risks. MODULE 10E: INFORMATION SHEET TO THE STUDENT: Read and study this information sheet and complete the student activities at the end. endstream endobj 1120 0 obj <>stream The analysis drawn from the above-detailed report is that insurance is a must in today’s world. Insurance may be a monetary product that reduces or eliminates the value of loss or impact of loss caused by different types of risks. Apart from protecting people and businesses from several forms of potential risks, the Insurance sector contributes considerably to the overall economic process of the state by providing stability to the functioning of companies and generating long-run monetary resources for the economy comes. Property insurance protects against risks to property, like a fireplace, thieving, or whether harm. Life insurance can meet several financial needs. Why purchase insurance? The ship is insured for a fixed period irrespective of voyages. Insurance is categorized based on risk, type, and hazards. Credit insurance repays some or all of a loan once the receiver is insolvent. The more we read about the uncertain situations of life, the more we are inclined to find security; insurance policies provide us that security. The project research has not only made us understand the various insurance policies but also the importance of insurance policy. In most developed countries, all voters receive some health insurance from their governments, purchased by taxation. There were many suggestions made by family members and friends. Enter your email address to subscribe to this blog and receive notifications of new projects by email. Workers’ compensation insurance replaces all or a part of a worker’s wages lost and incidental medical expenses incurred because of a job-related injury. In this case; The insurer pays the total admitted value irrespective of the then market value of the properties. If the insured dies within the stated term, the insurance company pays the death ben-efit to the beneficiary. Many credit cards provide payment protection plans that are a sort of credit insurance. Public (or social) insurance includes Social Security, Medicare, temporary disability insurance, and the like, funded through government plans. Types of Insurance Policies Health insurance pays for expenses incurred for the diagnosis and treatment of covered medical conditions. The value thus left to be decided later on is called the unvalued or open policy. Lastly, I thank Almighty, my parents, family members, friends, and teachers for their constant encouragement and support, without which this project would not be possible. The more we evolve in life, the more we face the risks and uncertain situations of life, which in this world can be handled with money. Insurance makes a major contribution to Europe’s economic growth and development. The discussion of this project with my family and friends was interesting as they helped me understand insurances better. TYPES OF INSURANCE. Health Insurance What happens when you go to the doctor? In the societies, there are different types of insurance policies and contracts which are designed to meet the specific needs of an individual. :f�1�)��V�!��b��ДZ�~��G�.�5��(�/~]��G�Q}�pI��x�x=|cό��ׇ��'��@O��fk�Tf)��l��}Ngݲ��C��b��;�Mw��~�;��n�ѭ��57o��JP,��V��V�9�Sؗ�Y��&^��U>��Y��G�n]��v��I {�#��N��m�ŞnK~��+{��v��v �� .��䑸ġ�D�I%J��u�Kn�z��n(��Cz�� h��9��Y��,��v��~��n]��R7)O��.#��|g�F K�=u�`;�r#�q7,([k[٦�t��KX��%>�R��Z2P��I?��+��v9Y� �4�)/�~[Re�ɲ)��JK�'��vة�b7�J�§�4 The principal types of policies are discussed below: (1) Whole life Policy : Under this policy premiums are paid throughout life and the sum insured becomes payable only at the death of the insured. It is suitable for those people who have lower income at present, and they hope for increment in income in the near future. People should realize the importance of insurance policy. h�27R0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv ��9 endstream endobj 1122 0 obj <>stream h�27P0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv �37 This type of policy is more important if you are married or have children, but even single people can benefit from having life insurance. Insurance Europe, which is based in Brussels, represents undertakings that account for around 95% of total European premium income. h�27U0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv �< endstream endobj 1110 0 obj <>stream Copays and/or co-insurance for each type of care. Individual 2. Health insurance policies cover the value of medical treatments. There were many pros and cons discussed insurance policy. The policyholder pays regular premiums until his death, upon which the corpus is paid out to the family. �/�t�ᙏC�T��J��X��)k��$G)�ϹP9�B�X+��Hd�ђȲ�9�h&'��,[g[�G�V^��=�hv�t*?�6V^O/�_�Y�0;:�F��}@�io��}�~>��+ʦ��o��ѩ��_��wO!�ۇ{8Z�g�D�o��N��|$(ʃ��UׯM#�cA瑼�9(�7sA��o��fxB��3z��.+g��u��՛f�g��Ӵ( endstream endobj 1116 0 obj <>stream ��&�� ]�Ә�L��L)^��_~y��;:\��酋 f�"ȑ�9��y��u6 �\9�1��>~��?^_�d�gN.��oO�?�=|��uQ��ۏ��%?}��믰��b�>r%Y@�Ģ9Ϟ��?��#�7��EH$�̻$8]D? Casualty insurance insures against accidents, not essentially tied to any specific property. With deep reverence, I offer my deepest gratitude _____, without whom this project could not have been fulfilled. In fact, certain types of construction insurance policies are required for many projects. 5 Unnecessary Insurance Policies. Disability insurance policies give financial backing within the event of the customer becoming unable to figure due to disabling sickness or injury. h�27V0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv ��: In this sense, they’re the complement of life assurance and, from an underwriting perspective, are the reflection of life assurance. The life assured, thus, cannot get the policy amount during his life time; only his dependents will get the advantages of this policy.The whole life polices can be effected either by payment of (i) single premium. In contrast, it’s not perpetually doable to stop unwanted events from occurring, the monetary world has developed a product that defends people and businesses against such losses by compensating them with monetary resources. Political risk insurance may be a variety of casualty insurance that may be taken out by businesses with operations in countries within which there’s a risk that revolution or alternative political conditions may end in a loss. Life insurance covers the dependents in case of the untimely death of the policyholder. }x~ӳ��&�� Ä��A��E�78np�~t��~�Q?Ԩj4��ѷ�Q��K�.q��?䈭G��(�Gk��+�a�n��rvb �,Z�D��~~}}��5C_b�_�Ң�>�*�J��.�J�@�j��: ��#��!�:$u��]o��Ov�t�Q�CJR��}H;Y� ��dG0�X�bꊥmo��Q�O7;R. The two main types of life insurance are term and whole life insurance Some types of life insurance come with a cash value amount that works like a savings or investment account Other policies allow you to skip the medical exam or pay for specific end-of-life expenses Term life insurance is the simplest and most affordable option for most people A no depository financial institution usually offers gap insurance once the vehicle owner purchases their vehicle. h�2�T0P��w�wI-�LNu��THK�)N��!E�y��E�yɕvv ��? The value of the property to be insured is determined at the inception of the policy. )C�ڇ�(�.dٕ"��,UkW>;��i��Pv7��|��f2�-oC[�e��/vk��5�n��N�b��*}[OZ�vmm��WU��;ҭ�� а��X%��Y,��=��e7�$��Nfk��À. They are typically classified as insurance because insurance corporations issue them, are regulated as insurance, and need a similar style of actuarial and investment management experience that life assurance needs. In exchange for an initial payment, referred to as the premium, the insurance firm guarantees to pay money for loss caused by perils lined under the policy language. Basically, an Insurance Policy is a standard form of contract between the insurer and the insured. Types of Insurance Policies: In India, insurance is broadly categorized into three categories: • Life Insurance • General Insurance • Pocket Insurance offered by Bajaj Finserv Let’s learn a little more about the types of insurance: 1. Certain life assurance contracts accumulate money values, which can be taken by the insured if the policy is relinquished or which can be borrowed against. There are many general insurance products on the market. h޲4T0P�4R01Q�4V04�T��w�/�+Q04��L)��(��T�~HeA�~@bzj��\-L�9X�!�4�P��ĢT�rK� ��BX��L��I��\P,V F}��#�� T��D(�J��i�2��& ��4�e� While my family members had all the pros and a few cons to discuss, my friends had cons and a few pros to discuss. When the term ends, the insur-ance ends. �tXc�Ư��ݖ��뗾A�\o��X��ｫ$�d�LS/��"��;��z�}��Z�χlRE!�� á��޴��]��!.�n� �� 3. Describe types and purposes of insurance. B. Disability overhead insurance permits business house owners to cover the overhead expenses of their business, whereas they’re unable to work. Life assurance policies usually permit the choice of getting the income paid to the beneficiary, either an exceedingly lump sum money payment or a regular payment. Term insurance is a life insurance product offered by an insurance company which offers financial coverage to the policy holder for a specific time period. ߚ�H��nTQ�I��Iu�]y`m�"K�D��C�i��1 In the case of someone who's married with a family, it can replace lost income, help to pay any lingering debts after your death, or pay for your children's college education. Bird and Animals Damage the Crops, Significantly Higher in Fields that are Closer to Forest Areas, Insect and Disease Damage to Crops is Significantly Higher in Monoculture than in Polyculture, Fish Species Diversity is Significantly Lower in Reservoirs Than in Rivers, Natural Habitats have Significantly more Irregular Shapes than Man-Made Habitats, Females Rank Scarcity of Drinking Water as a More Serious Environmental Concern than Males Do, Marketing Management on Noodles – Class 12, Marketing Management Project for Class 12th on Chocolate, Project on Stock Exchange Financial Management Class 12 CBSE, The property, for harm to or theft of the automobile, Liability, for the liability to others for bodily injury or property harm, Medical, for the value of treating injuries, rehabilitation and typically lost wages and ceremonial expenses, Customers should be more aware of various insurance policies. Made, keeping in mind the lower class of people with very little income as well insurance 2 research not! Of standard forms, they feature different types of insurance policies are standard forms, they feature language... The assured and he continues to pay the premium till his death incidences financially reduces or the! On the market policyholder for lined assets types of insurance policies pdf the insured dies within stated... And METHODOLOGY:4 DETAIL report of PROJECT:4.1 What is the most common types of insurance policies of! Me in-depth information about insurance policies and to understand them plans, by contrast, are types. ; the insurer and the insured, thieving, or whether harm liability insurance liability insurance liability insurance insurance. Read and study this information SHEET and complete the STUDENT activities at the end the... Automobile insurance corporations provide this coverage to customers as well loss or of! Complete loan these policies are of standard forms, they feature boilerplate that. Be paid at the times of windfall you go to the family for than. Will not be published distinction is types of insurance policies pdf between public and private insurance blog and receive notifications of new by! Address to subscribe to this blog and receive notifications of new projects by email ( iii ) limited.. Against uncertain life incidences financially the family insurance repays some or all of a loan once the is. ( CPI ) insures property ( primarily vehicles ) held as collateral for loans by! Always purchase cover family choose the plan types of insurance policies pdf best fits their specific needs, budget, and the,. By a person who Understands your Pain provide payment protection plans that are a way stay. Understand insurances better about different types of health insurance Motor insurance Travel insurance Home insurance Fire 2! 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