Insurance is like a promise between you and a company. You pay them money (called a premium) and they promise to help you if something bad happens and you lose money. There are different types of insurance for different things like your life or your phone. It’s important to have insurance to protect the things that are important to you.
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How does insurance work?
Insurance is when you pay money to a company to help you if something bad happens. The company takes money from lots of people and uses it to pay for things that go wrong for any of those people. You only get money from the company if something bad happens to you during the time you paid for. Sometimes, insurance also helps you save money.
What is the deductible in insurance?
A deductible is the amount of money you have to pay before your insurance company will pay for the rest. So, if your deductible is ₹20,000 and you have a claim for ₹40,000, the insurance company will only pay ₹20,000 and you will have to pay the rest. You only get paid by the insurance company if the claim amount is more than your deductible.
When you get insurance, you can choose to pay more money upfront (called a deductible) to make your monthly payments lower. But remember, if you need to use the insurance, you will have to pay that deductible first before the insurance will help you. So make sure you think carefully about how much you can afford to pay upfront when you choose your insurance plan.
Key features of insurance
Insurance is like a big helper when you need it most. It has special things that make it really helpful, like being there for you when you really need it.
Buying insurance is easy because you can do it online or in person. You don’t have to leave your house to get it!
When you have insurance, it’s like having a helper who can give you money if something bad happens. This can include getting sick, getting in a car accident, or other things that can cost a lot of money. The helper is there to make things easier for you.
There are lots of choices for insurance right now. You don’t have to pick just a few. You can look at all the choices and then decide which one is best for you.
Having insurance is like having a superhero that helps protect you from bad things that could happen. It can help you with money if something bad happens and even help you save money on taxes. One insurance policy can do a lot of good things for you.
Sometimes, the insurance company gives special gifts to the person who has insurance with them. This could be a discount on how much money they have to pay to keep the insurance or something else nice. If the person doesn’t have to use their insurance for a whole year, they might also get a bonus as a present.
You can get something called insurance for all the special things you have, like your car, house, jewelry, and even your phone. It’s like a way of protecting them in case something bad happens.
Insurance is like a big blanket that can cover a whole family instead of just one person. That means everyone in the family can be protected in case something bad happens.
Insurance companies have a tool called an insurance premium calculator that helps people figure out how much they need to pay for their insurance coverage. This tool makes it easier for people to pick the best insurance plan for them. For more details click the link.