As lots of people face unexpected accidents and sudden death. So all the insurers borne the costs of loses. That’s why insurance is very much important in this morden country.
Say for example if Mr. Robert buys a good model new car and he wants to insure the subject car against any avoidable accidents. Definitely he will go for an insurance policy from an reputed insurance company through a broker, paying a fixed amount of rupees according to the premium of said company in 1 year period.
Once the amount paid to the insurance company, a contract paper or bond paper is given to the insurer car. As we know the automobile industry is growing so fast and the people requirement is also going rapidly as necessity is the mother of invention, for that reason people are facing accident every day, like Robert purchased an insurance policy similarly people are buying insurance policy everyday according to their requirement.
All car owners have bought the insurance policy but some of them face accident and insurance company borne the compensation as their accidents and loses.
Except the vehicle the proprietor of the subject vehicle can also insure himself for better security. The term life insurance can be derived in this way this is the insurance against something to happen like accident, death or any damage of property. Life insurance offers a strong security of our family. It protects of our business.
All these let prove that life insurance is very much essential in our life otherwise we will put in trouble to manage our family and in the last our economical situation will not be developed so we need a proper planning before buying an insurance policy that may be a life insurance, Car insurance, home insurance, business insurance or property insurance.