The Insurance polices and its importance
In today's fast life style, The insurance polices are very important to every human beings in the world for secured life. The insurance polices are giving secured life coverages with monitory benefit to the policy holders during the risk arises in their life. There many different types of insurances and companies are available in Tamil Nadu. The insurance polices for human beings, properties and vehicles are available. The investment in insurance polices is also one way of savings. The policy holder can get the total amount called the sum assured at the end policy term or at the maturity period time. The most important things to remember for every one is that the selection of policy. There are many polices in various insurance schemes are available. So, we have to take at most care to select the policy type based on their various future benefits, Policy payment periods, Risk coverage benefits and guaranteed money backs etc.. The policy renewal is very important to ever policy to make them alive. So, The policy holder should pay the premium regularly through out the policy term. We can not claim the policy benefits and risk coverages if the policy is not alive. The policy holders can get loans against their policy with certain limits by surrendering their policy document to the insured company and can get back the same after the repayment of the entire loan amount. The types of polices and its benefits are given below.
Types of insurance polices and its benefits for the people of Tamil Nadu
The are being categorized based on the nature of requirement, risk factor and etc. The major types of insurance polices that are mostly required for Tamil Nadu people are given in detailed manner.
Life Insurance policy : This is one type of policy in which the insurance company pays the maturity amount to the policy holder at end of the policy term or in case of demise of policy holder. This policy is also termed as Personnel Insurance Policy. This scheme will be very useful to run the family while the earnings of a family is suddenly stopped due to some death happened to the earning person of a family. The main purpose of this policies are the life coverage or risk coverage to the family. This type of policy gives many additional benefits like paying vested bonus, guaranteed money returns and others. The money back policies, endowment polices, Educational polices are some important polices in this category. Each category has many insurance plans with attractive benefits. The policy holders have to select the right policy based on their requirement. The Pension plan policy under this category is very useful for every one to get pension in their old age. This policy has many plans for marriages also.
Property Insurance policy : This policy is very useful to secure our properties against various losses. we can get the actual amount of the property if the property is lost against theft and some natural calamity like Flood, Earthquake etc.. There are various policy plans available in this category and the policy holder can choose the appropriate plan which one is suitable to them. The highly inflammable goods like cotton can be insured under this category. We can insure the properties like Homes, Jewels also in this policy scheme.
Health Insurance policy : This policy is very important to every human being in today's life style. Because, Each and every person has affected by any one health problem in day to day life. So, the health insurance policy helps them to meet the expenses which are they spend for their health. The insurance company pays all the expenses for their health challenges based on their policy terms and conditions. The medical insurance is the most important health insurance policy that covers many health problems arises for every human being. The accident benefit policy is also available under this category and the person can claim while He/She has met the accident.
Vehicle or Auto Insurance policy : This policy helps the owner of the vehicle to claim the financial loss of their vehicle due to some accident happened to it. The vehicle insurance is compulsory for every registered vehicle by the Government of Tamil Nadu. The policy amount for this policy will be calculated on the present value of the vehicle. Every year, the depreciation rate of the vehicle will be taken for calculate the policy amount under this category of policy.
Travel Insurance policy : This is a special type of policy which helps the people to get claim for the loss of their personal holdings during the traveling. This policy will be very useful to the people those who are traveling in trains, Buses with valuable belongings in frequently. The policy holder should go through the terms and guidelines which are given in the policy document carefully after getting the same.
Credit Insurance policy : This is also a very useful policy which pays the loan dues of a person if he get accident, death or loss of his job. The policy terms and conditions are most important one to this policy. The policy holder should take care among those terms and conditions while he/she go for policy of this category.
Third Party Insurance policy : This is a policy for owners of the vehicle and it is very useful while accident has happened. This policy helps to make the claim to third party while damages are caused to them by us by accident. This policy is quite common for the persons those who are operating motor vehicles.
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