Insurance Introduction

Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured. Most people have some insurance: for their car, their house, their healthcare, or their life. Insurance policies hedge against financial losses resulting from accidents, injury, or property damage. Insurance also helps cover costs associated with liability (legal responsibility) for damage or injury caused to a third party.

Types of Insurance Policies

1) Health Care Coverage
Health insurance is a form of insurance policy that covers the costs of medical treatment. Health insurance policies either cover or repay the cost of treatment for any included disease or injury. Various forms of health insurance cover a wide range of medical bills.

2) Individual Health Insurance
Provides coverage to a single person.

3) Family Floater Insurance
This type of insurance allows your complete family to be covered under one policy, which often includes the husband, wife, and two children.

4) Group Health Insurance
This is a type of insurance that a business provides to its employees.

5) Car Insurance
This plan covers privately owned four-wheelers. There are two kinds of automobile insurance plans: third-party insurance and extended coverage policies.

6) Bike Insurance
These are forms of automobile insurance that protect privately-owned two-wheelers in the event of an accident.

7) Commercial Vehicle Insurance :
A sort of automobile insurance that covers any vehicle utilized for commercial purposes.

8) Employers Liability
Issued either as an extension to the Workmen’s Compensation policy, or as a stand-alone policy in conjunction with GLPA policy, the Union Insurance Employers’ Liability insurance indemnifies employers from paying the compensation, legally required under Common Law, for injury or death to personnel during the course of employment.

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