Insurance

what is the basic of insurance policy?

basic of insurance policy

Insurance Policy

 is a contract between the insurer and the insured. The insured is also known as the policyholder. It contains the complete claims which the insurer is legally required to pay to the insured. In return, the insured has to pay a premium on a periodical basis to the insurer. The insurance policy is mostly an integrated contract.

 which insurance policy covers

  1. Policy Contracts:
  2. A complete documentary which provides general information such as policy packages, duration of the policy, information of what’s insured and most coverage limits.
  3. Insurance Aspects:
  4. This section will define the insurer’s responsibilities, it includes activities such as the cancellation of policies, premium plans etc.
  5. Insurance Endorsement:
  6. In the future,
  7. if you feel there is a need to do some changes in current policy then insurance endorsement policy is the best category for this to meet your needs. You can add later whatever changes you want in your policy contract.

There are major types of insurances

  1. Life insurance
  2. Automobile insurance
  3. Health insurance
  4. Credit insurance
  5. Property insurance
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