Why do We Need Insurance? The question that comes to mind all those who are not familiar with and understand about what it is Insurance. If we examine in simple language, of course, insurance can be said to a guarantee. But of course the understanding and definition of insurance is not so short. Insurance can be described wider and wider.
We try to share about what it is insurance. By understanding and understand definition of insurance, we will know how important an insurance or we are indeed very necessary to carry insurance against everything, or form that can be and can be insured. Let us follow the first and understand it, learn what is meant by insurance.
Hopefully, with a brief explanation of insurance below, we can know and understand about insurance. Why We Need Insurance? Understanding What Insurance? Is it important to Insurance For You? Can you answer that question yourself, after you learn and understand about insurance.
Insurance is a term used to refer to the action, systems, or business where financial protection (or financial compensation) to life, property, health and others seek relief from the events that can not be expected that could happen such as death, loss , damage or illness, which involves the payment of premiums on a regular basis within a specific period in exchange for policies that ensure such protection.
The term "insured" usually refers to anything that get protection.
"Insurance or Coverage is an agreement by which an insurer is binding to an insured, to receive a premium, to provide reimbursement to him for any loss, damage or loss of expected profit, which may be experienced as an event that is not certain."
Insurance is a very tricky business and it can be quite confusing at times. That is why so many individuals have trouble understanding as well as comprehending all the terminology that is oftentimes associated with Insurance, but there are some techniques that might help you along the way.
The economy is in dire need of repair and as a result many individuals have suffered greatly during the past few years. While struggling to make ends meet, many families have had to cut back on some of the things they felt were not really needed in their households at the moment. Unfortunately, Life Insurance was on that list for some individuals. However, others could not bare the thought of living without Life Insurance.
Lately, there does not seem to be any relief in sight. The cost of living continues to rise, but more and more individuals are becoming unemployed due to lack of work because more and more businesses are shutting their doors. One thing that does not change is the need for life insurance. Having to pay Insurance premiums might not be on the minds of some individuals at this moment, but for others it is.
Many individuals make huge mistakes when it comes to purchasing Life Insurance, but there are ways in which you can avoid these costly mistakes yourself. The most important thing you can every do for the future of your family is to have an Insurance policy covering you in the event of your death so that your family will be taken care of when you are gone.
Will your family be able to pay the bills you have now if something was to happen to you? What would happen to your spouse if you were to pass away tomorrow? Have you ever thought about these things? An Insurance policy gives you the peace of mind to know that your family will not be left with the financial burden that so many families are often left with when something happens to the head of the household.
It is nice to be certain of something these days and having Life Insurance is one thing you can be certain of. When purchasing your policy be sure that the type of policy you select has the appropriate length that you need. For example, if you decide to purchase a term life insurance policy, then you will not want to purchase a ten year policy, which you will have to renew and have the premiums increase on you.
This is a common mistake that individuals will make simply because the premiums are cheaper. You do not always want to go by the price of the premiums when purchasing Insurance. Instead, you want to check out what the life insurance policy includes and covers. Individuals need to always read the fine print of an insurance policy prior to purchasing a Life Insurance policy.
In the insurance world there are 6 basic principles that must be met, namely:
1.Insurable interest right to insure, arising from a financial relationship, between the insured with the insured and legally recognized.
2.Utmost good faith An action to disclose accurate and complete, all material facts (material fact) about something that will be insured both solicited and unsolicited. The meaning is: the insurer must honestly explain clearly everything about the scope of terms and conditions of insurance and the insured must also provide clear and accurate description of the objects or interests of the insured.
3.Proximate cause A cause of active, efficient cause a train of events that lead to a result without the intervention of which started and working actively from a new and independent sources.
4.Indemnity A mechanism whereby the insurer to provide financial compensation to put the insured in a financial position that he had immediately before the loss (Commercial code article 252, 253 and confirmed in article 278).
5.Subrogation transfer of demand from the insured to the insurer after a claim is paid.
Right 6.Contribution insurer to another insurer invite equally bear, but not necessarily the same obligations to the insured to participate provide indemnity.
We try to share about what it is insurance. By understanding and understand definition of insurance, we will know how important an insurance or we are indeed very necessary to carry insurance against everything, or form that can be and can be insured. Let us follow the first and understand it, learn what is meant by insurance.
Hopefully, with a brief explanation of insurance below, we can know and understand about insurance. Why We Need Insurance? Understanding What Insurance? Is it important to Insurance For You? Can you answer that question yourself, after you learn and understand about insurance.
Insurance is a term used to refer to the action, systems, or business where financial protection (or financial compensation) to life, property, health and others seek relief from the events that can not be expected that could happen such as death, loss , damage or illness, which involves the payment of premiums on a regular basis within a specific period in exchange for policies that ensure such protection.
The term "insured" usually refers to anything that get protection.
"Insurance or Coverage is an agreement by which an insurer is binding to an insured, to receive a premium, to provide reimbursement to him for any loss, damage or loss of expected profit, which may be experienced as an event that is not certain."
Insurance is a very tricky business and it can be quite confusing at times. That is why so many individuals have trouble understanding as well as comprehending all the terminology that is oftentimes associated with Insurance, but there are some techniques that might help you along the way.
The economy is in dire need of repair and as a result many individuals have suffered greatly during the past few years. While struggling to make ends meet, many families have had to cut back on some of the things they felt were not really needed in their households at the moment. Unfortunately, Life Insurance was on that list for some individuals. However, others could not bare the thought of living without Life Insurance.
Lately, there does not seem to be any relief in sight. The cost of living continues to rise, but more and more individuals are becoming unemployed due to lack of work because more and more businesses are shutting their doors. One thing that does not change is the need for life insurance. Having to pay Insurance premiums might not be on the minds of some individuals at this moment, but for others it is.
Many individuals make huge mistakes when it comes to purchasing Life Insurance, but there are ways in which you can avoid these costly mistakes yourself. The most important thing you can every do for the future of your family is to have an Insurance policy covering you in the event of your death so that your family will be taken care of when you are gone.
Will your family be able to pay the bills you have now if something was to happen to you? What would happen to your spouse if you were to pass away tomorrow? Have you ever thought about these things? An Insurance policy gives you the peace of mind to know that your family will not be left with the financial burden that so many families are often left with when something happens to the head of the household.
It is nice to be certain of something these days and having Life Insurance is one thing you can be certain of. When purchasing your policy be sure that the type of policy you select has the appropriate length that you need. For example, if you decide to purchase a term life insurance policy, then you will not want to purchase a ten year policy, which you will have to renew and have the premiums increase on you.
This is a common mistake that individuals will make simply because the premiums are cheaper. You do not always want to go by the price of the premiums when purchasing Insurance. Instead, you want to check out what the life insurance policy includes and covers. Individuals need to always read the fine print of an insurance policy prior to purchasing a Life Insurance policy.
In the insurance world there are 6 basic principles that must be met, namely:
1.Insurable interest right to insure, arising from a financial relationship, between the insured with the insured and legally recognized.
2.Utmost good faith An action to disclose accurate and complete, all material facts (material fact) about something that will be insured both solicited and unsolicited. The meaning is: the insurer must honestly explain clearly everything about the scope of terms and conditions of insurance and the insured must also provide clear and accurate description of the objects or interests of the insured.
3.Proximate cause A cause of active, efficient cause a train of events that lead to a result without the intervention of which started and working actively from a new and independent sources.
4.Indemnity A mechanism whereby the insurer to provide financial compensation to put the insured in a financial position that he had immediately before the loss (Commercial code article 252, 253 and confirmed in article 278).
5.Subrogation transfer of demand from the insured to the insurer after a claim is paid.
Right 6.Contribution insurer to another insurer invite equally bear, but not necessarily the same obligations to the insured to participate provide indemnity.
Insurance, Why Do We Need Life Insurance
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