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The various types of insurance and Top 10 Biggest Insurance Companies in the World INDEX of this Post [ hide ] What are the different types of Insurance? Insurance is a mechanism of sharing losses of a few by many which reduces the cost of loss caused by a variety of risks.  It promises to pay the beneficiary of an asset a certain sum if a loss occurs.  Ensure that you have sufficient insurance coverage. To know more about insurance and its type watch the full video. The various types of insurance are: Life insurance. Health insurance. Travel insurance. Home insurance. motor or auto insurance provides protection for a vehicle. i) What Is Life Insurance and How Does It Work? your loved ones mean everything to you you provide for their everyday needs and their future dreams but what if something were to happen to you no one wants to think about dying but have you ever wondered how your loved ones would manage financially wouldn't you like to know you can with life insuranc...

What is insurance and how does it work? | You have LIFE insurance, MEDICAL insurance, and NON-LIFE insurance. INDEX of this Post [ hide ] What is Insurance? Insurance is a process that combines the risks of individuals into a group, using funds contributed by members of the group to pay for losses. Insurance is a contract between the insurance company and an individual(insured).  The insurance company promises to pay a specified amount to the insured in return for consideration or the premium on the happening of a certain event. Though insurance cannot prevent unwanted events or causes of loss from happening, it protects the policyholder by compensating him for the promised amount of loss. What is insurance and how does it work? We have had a lot of questions asking us how insurance works. So here is a short video that might explain it better EmployeePaidInsurance.com can help you choose the right benefits at the right time of your life can be critical.  That's why we a...