What is insurance?
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In the modern world insurance services are very important. Everyone can get into a dangerous situation, insurance helps to cope with the negative consequences of these situations. Insurance is a type of economic relationship that provides insurance protection for people and organizations from a variety of hazards. Let us consider in more detail what insurance is, let's talk about its types.
Types of insurance
This insurance is guaranteed to people in the event of a situation that can be attributed to the insured event. Health insurance can be used for preventive purposes. This insurance is on a voluntary and mandatory basis.
This insurance indemnifies damage due to serious health problems or death. Insurance can occur individually or in group form, can be on a mandatory or voluntary basis.
Thus insure various property: buildings, buildings,working machines, devices, equipment, various vessels, transport vessels, construction objects, goods, materials and raw materials.
CASCO - insurance of client's property relating to the possession, use and disposal of a car and its additional equipment. The situations where such insurance is valid include theft, road accidents, theft, various damages caused by outsiders, explosions and fires, natural disasters.
This includes insurance, which is associated with the likely negative situations in the life of a person. The object of insurance is the property that is associated with health, life, disability and social. the insured.
Used to minimize or limit risk. The way of financing is the transfer of risk. Under the contract, the insurance organization bears the financial responsibility for the most part.
Cumulative insurance and pension insurance
Are social insurance. Life insurance includes all types of insurance related to a person’s life.To determine such insurance, focus on the income of the insured. The average amount of insurance is from 3 to 10 client income per year.
Pension insurance is insurance with an accumulation, the expiration of the insurance period refers to the age of the pension. For insurance you need to contact the pension fund. Insurance payments after the retirement age occur in the form of pensions.
We considered the most popular types of insurance, but there are many more.
Basic insurance terms
The insured is a private or legal person who uses the services of the insurer. When purchasing the services of an insurer, the insurer signs the contract and pays a fee, the so-called “premium”. It can be paid either in installments over a certain period of time, or in full. You must comply with certain insurance rules. For example, if at the time of the insured event the insurance premium was not paid, the insurer has the full right to refuse to pay the funds to the policyholder under the contract.
The insurer is a specialized organization that has received a license to provide insurance services.Both the mutual insurance society and the insurance company can provide insurance services.