Insurance is an agreement wherein an individual or a business takes the insurance and passes the risk of financial loss to an insurance provider or insurance company. The business gathers tiny amounts of money from its customers and pools it to cover losses. There are Ideally two types of insurance, the first one being a liability and the second one being property insurance. MRS Future provides various types of insurance such as general insurance, life insurance, health insurance, and many more. We also explain the benefits of insurance for you, your family, wealth building, protection, retirement, and savings. To learn more about insurance plans connect with us today.
Life insurance policies in India come in a variety of offerings catering to the needs of protection, savings and protection-cum-savings. Some of them are:
(a) Term Insurance plan
(b) Whole- life insurance plan
(c) Endowment plan
(d) Money-back plan
(e) Pension plan
(f) Child plan
(g) ULIPs (unit-linked plans)
In India there are two types of insurance-
(a) Third-party or Liability Only and
(b) Comprehensive Cover
A health insurance policy covers expenses that incurred due to the medical treatment/surgery. In order to get the benefits of the health plan, the policyholder has to go for at least 24 hours of continuous hospitalization. There are some day-care procedures that are also covered under a health plan, but you also need to get hospitalized to avail benefits.
Read your policy document to ascertain what is included and excluded under your policy.