plastic surgery san diego: Importance Of Insurance

Insurance is a defensive measure used against future conditional losses to cover the possible risks of the future. It is a legal contract that protects a person from contingent risk of losses through financial means and provides a means for individuals and societies to manage some of the risks they face in everyday life.
These insurance contracts are called policies and are provided by insurance companies. Insurance companies charge a fair amount of customers, which is paid back, either in part or in full, to customers in the event of a permanent loss. This regular amount of customer load is called insurance premium.
INSURANCE REASONS:
Sometimes in life you can not avoid losses. For example, people can get sick. They can die of illness or accident, or their homes or other property can be damaged or stolen. So in all these cases and have to deal with the loss of income or savings. So insurance is a way to ensure that financially if such an incident occurs then the loss does not affect the present well-being of the person.
DOCTRINES OF INSURANCE:
1 Must be some permanent loss occurred at a known time, in a place known and known cause. Therefore, the time, place and cause of the loss should be clear enough.
2 The facts constituting the cause of the claim must be accidental or beyond the control of the beneficiary.
3 The size of the loss must be important from the standpoint of the insured. Insurance premiums must cover the estimated cost of losses, plus the cost of the policy, the regulation of the losses, and provide the capital necessary to ensure that the insurer could logically repay the loans.
4 The amount of the premium must be affordable.
5 The possibility of loss and the cost of the compensation should be calculable or estimable
TYPES OF INSURANCE:
Below are some types of insurance.
LIFE INSURANCE:
Life insurance ensures the life of the insured. The insurance company has a legal obligation to provide a monetary benefit to the family of the deceased or the beneficiary after the death of the insured. Winnings are paid to the beneficiary either in a lump sum or an annuity
INSURANCE:
Health insurance is also called medclaim. Under this policy the insurance policy pays the insured amount for their health purposes. This amount covers the cost of medical treatment.
Disability Insurance:
There are two types of disability insurance.One disability insurance is simple and the other is the total disability insurance. For single disability insurance, a monthly financial support is provided by the insurer to the policyholder, if unable to work due to injury or disease. But permanent disability insurance provides reimbursement if a person becomes permanently disabled.
General Insurance:
Includes auto insurance, business insurance, property insurance, etc.
Car insurance:
In the UK this is called insurance motor insurance. Compensates for loss or damage to the vehicle. But in the U.S. the auto insurance policy is essential to legally operate a vehicle on public roads.
Insurance companies:
Business insurance protects companies against the risk of loss and damage and compensation for loss
Property insurance:
This type of insurance protects the property against risks such as fire, theft, etc. This category also includes fire insurance, flood insurance, earthquake insurance etc.
Fire Insurance:
It is an insurance against property damage caused by fire.
Flood Insurance:
This type of insurance pays the policyholder in case of loss or damage to property due to flooding. Protects property against flooding.
Earthquake Insurance:
This insurance compensates for property damage caused by the earthquake.

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Friday, November 23, 2012

Importance Of Insurance

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