In today’s uncertain world, Life insurance is becoming a necessity. By definition, Insurance is a legal agreement between two parties (Insured and Insurer); in which one party (insured or policy holder) agrees to pay premiums, and in return, another party (insurer) agrees pay certain amount of money on the event of loss. Now in this day and age, everyone should have an insurance policy because the probabilities of mishappenings have been increased due to today’s hustle and bustle.Continue Reading
Insurance is a risk management technique; that helps to reduce the risks of financial burden, in case of any mishappening. Insurance is also known as a risk transfer technique, in which you shift your economical losses to your insurance company by paying a fee called a premium. Insurance protects an individual against financial hardships due to unexpected events like; theft, illness, physical injury, damage to property etc. Actually, life insurance is a legal agreement between you and your insurance company; in which you have to pay premiums and in returns, your insurance company pays you a certain amount of money in the event of loss you insured. The amount of money that your insurer pays you or your nominee (on maturity or event of loss) depends upon the amount of protection you have purchased. Your family may face financial problems upon your death; but if you have purchased a life insurance policy then it might help your family to bear the immense loss. If you have dependents then you must have a life insurance policy.Continue Reading
Having an expensive gadget keeps someone in an unnecessary phobia of losing his/her precious electronic gadget. Usually, with new electronic gadgets, customers get one-year free warranty for manufacturing defects and software related issues. But, such warranties do not cover liquid/accidental damages so to insure an electronic gadget against theft, burglary, liquid/accidental damage people prefer to buy a separate gadget insurance policy. A majority of people buy gadget insurance without knowing the actual terms and conditions. In such scenarios, people waste their money on buying worthless insurance policies, which would have very sophisticated claiming procedures and would have very huge depreciations. It is indeed a smart decision to insure a gadget(usually for expensive gadgets) but if you buy an insurance policy without knowing the various types of deductions such as; claim fees, depreciation for repair or full claims, service charges etc then it could alter your decision.Continue Reading
Mobile insurance industry is growing rapidly around the globe because of increase in demand of mobile insurance. People spend large sums of money on buying expensive gadgets and they do not hesitate to spend few more bucks to secure their precious gadgets against theft or damage. Over the past few years, many insurance companies started insuring electronic gadgets. You can insure any of your gadget like laptop, mobile phone, watch, tablet, notebook, LED TV etc.