Difference Between Insurance and Premium
Share This Article

To safeguard ourselves against unforseen circumstances such as death, destruction of our properties through fire, water or theft, we sign up for insurance packages to cushion us against bad days.

For every insurance policy you sign up for, we pay an insurance premium on a monthly or annual basis to keep the policy active.

ALSO READ 👉 What’s the Difference Between Insurance and Premium?

There are several types of insurance that a person can sign up for to protect his or her properties such as cars, houses, shops, personal health, pets, businesses, travel, profession or occupation among others.

Advertisements

 Types of Insurance are; 

Car insurance, Life insurance, Health insurance, Home insurance, Term life insurance, Whole life insurance, Travel insurance, Property insurance, Business interruption insurance, Endowment policy, Disability insurance, Critical illness insurance, Professional liability insurance, Umbrella insurance, Universal life insurance, Flood insurance, Renters’ insurance, Comprehensive Coverage, Variable universal life insurance, Pet insurance, Marine insurance, General insurance, Comprehensive among others.

What type of insurance is the most important?

Health insurance is the most important type of insurance according to the data available. According to a report in the year 2016 by Kaiser Family Foundation/New York Times one in five people with medical bills filed for bankruptcy with most being unable to fund their medical bills.
It is also said that, when there is good health, all thing are possible and this is the more reason why a person needs to sign up onto an insurance Policy.
SOURCE: Keeoko.com


Share This Article
Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like

APRA Approved Insurers

Share This Article

Share This ArticleAPRA Approved Insurers There are several life insurance companies throughout…
Share This Article

Friendly Societies Australia

Share This Article

Share This ArticleWhat is a Friendly Society in Australia? A friendly society…
Share This Article

Top 50 loan Companies In the United Kingdom

Share This Article

Share This ArticleLoan companies are financial institutions that lend money to individuals…
Share This Article

What Does Accident Insurance Cover?

Share This Article

Share This ArticleWhat Is Accident Insurance? Accident insurance is a type of…
Share This Article