The Types of Insurance and the Role of Insurance

The Types of Insurance and the Role of Insurance

The following kinds of types of insurance in General is provided by insurance companies. You can select them in accordance with the purposes and needs of you and your family.

Types of Insurance and the Role of Insurance

1. Life insurance

A type of insurance that this one has insurance benefits i.e. can provide financial profit on the insured that passed away. This life insurance you can buy for themselves on behalf of the insured only or can also be purchased for the benefit of a third person.
So, for example, a husband can buy life insurance that can provide insurance benefits to him after the death of his wife. Similarly, parents who can insure himself against the death of the child.

2. Health insurance

This type of insurance is an insurance product that will address the issue of health of the insured due to an illness and bear all the cost of the treatment process.

3. Vehicle insurance

Vehicle insurance is a type of insurance that focuses on dependent injury to other people or against another person's vehicle caused by the insured. Not only that, this accident insurance may also be used to pay for any loss damage or loss on insured motor vehicle.

4. Insurance Education

True to its name, this type of insurance is also very popular in Indonesia and a favorite among the policyholders. So, insurance education will typically be used as the best alternative solutions and to ensure a better life especially on child education assets.

The insurance company will receive an insurance premium to be managed. Insurance premiums must be given by participants of insurance varies according to the level of education they want to get later.

5. Business Insurance

Business insurance is one of insurance to provide replacement or protection against damages or lost profits in large quantities that might occur in a person's business.

So the business owners have to pay premium regularly as the insured. The insurance company is responsible in managing their insurance premiums to give the claim at the time the insured suffered damage, loss or loss of business. So, the insurance company is responsible for the business losses insured by receiving a premium.

6. Home ownership or property Insurance

Sometimes a person will also provide asset protection on valuable enough votes as the House or property. So, the existence of this insurance will provide protection and relief if your home or property the insured suffered calamities such as fires.

There are still many types of insurance type with each role that you can follow as credit insurance, general insurance, marine insurance and travel insurance. Now you already know what's the role of insurance and other types of insurance. So, this type of insurance which would you choose?

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