Insurance is a valuable risk-financing tool. Purchasing insurance, however, is not risk management. A thorough and thoughtful risk management plan is a defensive measure used against future conditional losses.
LIFE INSURANCE is a commitment or an agreement between the policy owner and the insurer. In the event of the uncertain event, the insurer agrees to indemnify or provide a per-determined compensation to the beneficiary of the life policy. Broadly, insurance can be categorized into TERM insurance and PERMANENT insurance.
TRAVEL INSURANCE: - Provides emergency medical coverage while travelling abroad as well as covering the policyholder's possessions and money while travelling. Many travel insurance policies also reimburse the policyholder if a holiday has to be cancelled and pay compensation for delayed journeys. It also covers any travel related losses incurred during one’s domestic or international travels. Any good travel insurance plan should cover medical expenses, expenses regarding travel delays, emergency returns, protection from theft of cash or other personal belongings and compensation for any baggage delay.
