In the event of any unexpected accident or loss, in order to be able to tide over the same, individuals and companies opt for insurance policies. This is where the loss is transferred to a third party who bears the brunt. There are two parties involved in this agreement, the insurer and the insurance company where the policy has been taken. When a person dies, meets with an accident and becomes handicapped, or if the vehicle meets with an accident, are some cases where insurance comes in as a safety net. An insurance policy could be for any of these purposes — health, life, medical, vehicle or general insurance. The duration is decided upon while signing the agreement.
Ultimately insurance is a protection against unwarranted and unexpected events. The payoff of an insurance policy takes place only when a bad event takes place. It could be sudden death, personal or vehicular accidents, injury, illness or disability. For these purposes, insurance is something that must be taken seriously. It is like that ad we grew up watching, Insurance truly is a “Don’t leave home without it.” At the same time, you must consider all options before you actually get...
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