What is life insurance? How many types of insurance and what (Life insurance)
Today, many people are aware of life insurance and want to know more about it. (What Is Life Insurance In Bangla).
So, in this article, I will tell you “what is life insurance” and “how many types of insurance and what”. In addition, I will tell you why it is important to insure and the necessities of life insurance.
In this day and age, accidents of any kind can happen at any time in the future.
And, that accident could happen to you, it could happen to anything you valued, or it could take your life completely out of your hands.
No one can say what will happen at any time in life.
So, in this accidental life, if you insure yourself and your other valuables in advance, then in bad times, you will have a chance to get a lot of profit or help financially.
The most profitable thing about life insurance is, “Through it, you can help your family financially even after your death.”
And so, I would always say, “Life insurance is very important for everyone these days.”
Remember, there are three types of insurance.
- Life Insurance
- Health Insurance.
- General Insurance.
There are two types of insurance, with different types of insurance.
So, let us know below what is Life Insurance in Bangla and “Why do life insurance or what are its requirements”.
Then, in “What is General Insurance in Bangla”, I will also talk about this matter.
What is Insurance?
Today, there are many misconceptions about insurance. Many people think that insurance is a kind of investment scheme where money is deposited.
And, we can withdraw the deposited money at interest in the future. Just like a savings schemes, bank recurring, fixed deposit,s or mutual funds.
But, keep in mind that insurance is not a means or a means of earning money in the future by depositing money in this way.
This is where people misunderstand the difference between insurance and other investment schemes.
Insurance will never help you to earn direct profit.
But keep in mind that you can get a good amount of money in exchange for various losses incurred in the future through an insurance scheme.
So, even if there is no financial gain directly through the insurance scheme, you can get a good amount of money from the insurance company in return for the various losses or problems that may occur in your future life.
For example,
Suppose you get your “health insurance” from a “health insurance company”. And, as an insurance company contract, you have to pay Rs. 3,000 every year as a premium.
Now, it will be that you will not be given a single penny instead of the premium of 3000 rupees that you have given every year.
However, if any problems with your health occur in the future and you have to be hospitalized, the insurance company will pay the full cost of the hospital.
Note: Remember, the higher the premium you pay to the insurance company, the higher the cost will be paid by the insurance company against any loss.
I took “health insurance” myself, and in 2019 I had to be hospitalized for poor health.
However, for having health insurance, the entire hospital cost of Rs 120,000 was paid by the insurance company.
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Of course, at that time I realized the importance of insurance.
Now, if you simply say, “What does insurance mean?”, Then the answer is,
Insurance is defined as a contract or guarantee that, in addition to paying a small premium (money), will cover various future losses such as loss of vehicle, loss of health, loss of house, loss of property, theft or death, and more. As a result of many types of losses, a good amount of compensation can be obtained from the insurance company.
So what is insurance, you may have understood by now?
How many types of insurance and what? (Types Of Insurance)
There are many types of insurance and in different cases you can have an insurance.
However, it is common for most people to take out such insurance in large quantities. And, these 6 types of insurance are much more important for all of us.
Life Insurance or Term Insurance.
- Health insurance.
- General Insurance.
- Accidental Insurance.
- Travel Insurance.
- Building insurance.
- Fire Insurance.
- Property Insurance.
- General Insurance can also be called Non-life Insurance.
This means that any insurance or insurance that is not related to your life or that is not covered by life insurance, is covered by “General Insurance”.
So, there are basically two types of insurance. Life insurance and general insurance. There are several types of insurance outside of life insurance, all of which come under general insurance.
What is life insurance? (What Is Life Insurance)
Life insurance is a type of insurance where a person pays a premium to an “insurance company” on a regular basis, in order to receive a good amount of money in the future after a certain period of time or after the death of that person.
Life insurance requirements and why?
If you have a family, and you are only financially supporting your family, it is important for you to have a “term life insurance”.
Term life insurance is a type of insurance where, if the insured person dies for any reason, a fixed amount is paid to his family or nominee after his death.
How much money will be given to the family after the death of the person taking insurance, should be considered before taking insurance.
And, the amount of your premium will be determined on top of your surviving amount, which is called “Sum insured value”.The higher your sum insured value, the higher the premium.
So maybe you have a better understanding of what life insurance is and why life insurance is needed.
What is health insurance? (What Is Health Insurance)
Health insurance is very straightforward. The insurance that will protect you from any future hospital expenses is called “health insurance”.
If the person whose name is insured has to be admitted to the hospital in the future for treatment, then the expenses of that hospital are paid by the “health insurance company” to the company to which you have paid the premium.
Remember, the company will only spend the amount of money that you have insured for the so-called “sum insured value”.
However, before doing this type of insurance, it is very important to ensure by following the rules and regulations and verifying yourself.
Health insurance requirements and why?
Health insurance is much more important today. Because today, even if you have to be hospitalized for the smallest reason, you still have to spend a lot of money.
Once you have to go to the hospital, whatever the reason for Roger, money is sure to run out of your hands.
So, in this case, if you have health insurance, then when you need a lot of money in those bad times, you do not have to pay a single penny.
The full cost of the hospital or the sum of the sum insured value you have, the full cost of the hospital will be paid by the insurance company.
So, now you may be trying to figure out why health insurance is so important today.
What is general insurance? (What Is General Insurance)
General insurance is a type of insurance that covers all types of insurance except life insurance. That is, all types of insurance are general insurance that do not involve human life.
Or, to put it another way, insuring your valuables other than your health and life means general insurance. In general insurance, your valuables are insured against theft, loss or damage.
For example, accidental insurance, travel insurance, motor insurance, fire insurance, building insurance, and many more.
What is meant by insurance premium?
Insurance premium means the amount or amount of money that you pay to the insurance company year after year after taking insurance.
Conclusion,
So, friends, you may now have a complete understanding of what insurance and life insurance are, what the types of insurance are, and what they are. However, if you have any other questions about life insurance, please let me know in the comments.
In the end, I will say this much, you must ensure 2 in life. One is life insurance and the other is health insurance.
Because no one can say when people will have to go to the hospital for health and when the last day of life will come.
It sounds bad, but I’m telling the truth.
With these two types of insurance, family members will not suffer financially, either while in hospital or after death.
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