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Here are the reasons why you need an insurance policy

Insurance guarantees protection and gives you a sense of comfort from future risks. Getting insurance will also give you peace of mind in your daily life. This is because in the event of an accident or serious illness at any time your family should not be confused about the cost of treatment as it is borne by the insurance company.

Risk of security and transfer by paying insurance premium within the stipulated time. This premium payment is definitely for the insurance company which will compensate you or your family in case of any mishap. Insurance can be used as an investment tool where you can save a certain amount by paying insurance premium.

The insurance you have is the type of unit-related insurance that does not necessarily add value each year. Insurance can be used to plan for the future. With insurance you can cover the cost of your childs education or use it to provide future retirement funds.

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The insurance business is a risky business venture for its customers and is run by insurance companies.

A way to compensate for the risk is to use the customers accumulated premiums to process the customers accident claim. Lets take a simple example of a trade union. 3 million. We collected an insurance premium of 3 million vir. It is estimated that 5 out of 100 merchants lost their lives. The total loss is 50 million won each. 250 million. Insurance companies acting as risk insurers use the premiums accrued to process claims from injured traders.

And those not affected by the accident cannot be held liable for an insurance company that operates in three simple steps. Attract customers: Insurance companies deliver products and find people who will become customers. Insurance companies divide each insurance buyer or policyholder into a different category. So with health insurance it doesnt cover life insurance or anything.

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The insurance policy pays for each loss based on the amount the owner carries.

Client Customers often receive a monthly premium plan. With each premium each customers amount is to overcome the problems claimed by other customers and insurance companies. Thus the system operated by the insurer is the customers cash flow to cover the risks faced by other customers. If a bad customer provides compensation we will pay compensation according to the rules.

The insurer confirms that the customers claims are real risk and not intentional. In most cases insurance companies stipulate that they do not provide compensation in the event of an accident intentionally. Buying insurance will help you overcome your fear of the future. Preparing for the future makes everything safe and comfortable. Knowing how the above insurance companies work will make you decide to buy an insurance plan.

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not all risks can or even need to be insured.

Only risks that we think cannot be borne alone need to be insured, such as the risk of illness, accident, loss, fire, and so on.

Assets whose value is small are not included in the criteria covered by insurance. In principle, the risks protected by insurance companies have the following criteria:

  • Can be assessed financially
  • Enroll in one of the types of insurance offered by the company
  • There are a number of people with the same risk
  • Eligible to be insured (has a material value and insurance interest)
  • The risk criteria above are usually processed by insurance companies into insurance products that are ready to be offered to the public.

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