Insurance means of Protection from financial loss, It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
The Insurance provider is know as insurer, a person who buy an insurance is know as Policyholder. In Simple Words Insurance is a Contract between Insurer and Policyholder in which the policyholder receive financial protection reimbursement against losses from an insurance company.
This Actually deepened on your policy, there are different type of Insurance Policy available in the market. so the policy contained the terms and condition for Finical support, if you came under the correct circumstance as per policy terms and condition you will get financial support form the Insurance Company.
First of all the Main and Important thing is to read all the documents related to policy. You might be thing we know this but most of people fail in this only, The companies made the terms and condition very long so people avoid all the point mentioned in the policy. so take your time and read every sentence carefully
Second thig check the company details, like company is reputed or any Froud company, How to do this? There are many ways you can use to find best company for your policy. You can talk with pervious policy holder who took the insurance through this company. and you can also search on internet about the company and can also check people point of view on this company, or you can use your own methods to do.
Check Policy, Yes you read it right Now check policy what does its offering, does is related to your need, then if you find right deal you can buy the policy, But remember Buy policy at your own risk we are not suggesting any company or policy.
1. Premium 2.Policy Limit 3.Deductible 4.Special Considerations
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