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What is Insurance?

Insurance is a process of identifying against any kind of loss. Risk refers to the chance of happening any unfavorable event that results in the loss of the property. Human life is surrounded by risk. Some unanticipated events, like fire and natural calamities, may result in the loss of human life, and personal and business property. To protect from the loss and from this event we can insure our personal and business property with an insurance company. For this, we will have to approach an insurance company, request to get our property insured, and pay money for that.

Types of Insurance?

1. Life Insurance
2. Whole Life Insurance

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3. Term Life Insurance
4. Endowment Insurance
5. Anticipated Insurance
6. Universal Endowment Insurance
7. Universal Life Policy
8. Fixed Period Life Annuity Policy

What is Life Insurance?

Life Insurance is an arrangement by a person with a life insurance company whereby the person pays a certain premium periodically over a state time period and in return the life insurance company agrees to pay back an agreed sum to the dependent upon the death of the person or to the person him/herself at the maturity of life insurance period if the person lives.

What is whole life insurance?

Whole life insurance is a whole life policy that is in effect over the entire life of the policyholders. This whole life insurance provides lifetime protection. The policy money and bonus are payable only to the nominee or beneficiary upon the death of the policyholder, there are no survival benefits means the policyholder doesn't get any benefits during his/her lifetime.

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