Insurance
 
Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
 
 
Life Insurance?
We prioritize insurance planning is a must because it is protection to the life cover risk. It will help you understand whether you are under-insured or over-insured and the existing policies can be earmarked in the financial planning structure. Life insurance is important to people who want to protect their family from financial distress after their death.

How does life insurance provide financial security?
The main reason people consider buying life insurance is to protect the people they leave behind. Having coverage in place is especially important during the policyholder's main earning years. During this time, he or she may have major expenses such as a mortgage, car payments and the like.

What can a death benefit be used for?
The main reason people consider buying life insurance is to protect the people they leave behind. Having coverage in place is especially important during the policyholder's main earning years. During this time, he or she may have major expenses such as a mortgage, car payments and the like.

How can life insurance provide savings?
Some types of life insurance plans have a savings component as well as provide protection if the policyholder dies. When the person chooses a permanent, universal or whole life insurance policy, part of the money that he or she pays in premiums is used to fund an investment savings plan.
 
 
 
General Insurance
Insurance other than 'Life Insurance' falls under the category of General Insurance. General Insurance comprises of insurance of property against fire, burglary etc, personal insurance such as Accident and Health Insurance, and liability insurance which covers legal liabilities. There are also other covers such as Errors and Omissions insurance for professionals, credit insurance etc.