Types of insurance​

It is a method that most people rely on to mitigate the risks beyond their control and mitigate the effects that they may be exposed to, including those risks that may threaten their lives, property, or trade, and many more, as the insured pays a monthly subscription to the insurer (mostly insurance company), and all the insured’s money is paid to whoever is exposed to an accident beyond his control to compensate for his losses, and this is what insurance companies are based on today

Types of insurance Insurance in terms of form

 This type of insurance is intended for the parties, parties, or bodies that assume the responsibility of undertaking the insurance process

 Cooperative insurance

 This type is the insured party and the insured party has one party, as this process is carried out by a number of people who have a certain interest, and they are likely to be exposed to a certain risk, and they are working to mitigate the effects of damages that a particular contributor may be exposed to, from the subscriptions and premiums that paid by a specific party

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 Life insurance has several types

In the event of death: The insurance company pays the sum insured upon the death of the insured. For survival: The insurance company pays the insurance amount at a specific and specific time to the insured himself. In the case of marriage: The insurance company pays the sum of insurance to the insured if he gets married before a certain date. In the case of childbirth: The insurance company pays the insurance amount to the insured if he has a child. Mixed insurance: The insurance company pays the sum insured after the death of the insured for a certain period, or to the insured at a specific date. Supplementary insurance: occurs in the event that the insured is unable to continue paying insurance premiums for a specific reason

Fixed subscription insurance

The insurer pays a sum of money to the insured when he is exposed to a certain accident, in exchange for the value of the contributions that the insured used to pay to the insurance company 

Insurance by topic

 Marine, river, air, and land insurance: This insurance covers and mitigates the effects of risks that may be exposed to maritime transport (burning ship, cargo, and damage, shipwreck, ship hijacking, etc.), air transport (plane crash, etc.), or river transport (in canals and rivers), or land transport that includes the above-mentioned types, but this insurance does not include the crew working on the ship or plane, but it is included in the land insurance. Private and social insurance: The private is what the individual undertakes to insure his property, life, or otherwise, in insurance companies, and the purpose of it is mostly personal and optional. Social insurance is the insurance that the state takes care of in order to cover the risks that may be exposed. It’s a working-class in society that is compulsory 

 Damage insurance

This insurance is carried out by a person to cover the risks that his property may be exposed to, and it does not include life insurance, which is of two types. Insurance of things: insurance of the money of the insured. Liability insurance: This insurance covers the costs of a mistake committed by the insured, for example, that the insured sabotages the property of another person in this case, the liability insurance covers the costs of sabotage and prevents the other party from holding him responsible and referring to him. Personnel insurance: This insurance covers the costs of any risks to the insured person, and it is of several types  

Group insurance

in which a person responsible for a group of people pays the premiums of this insurance, which covers the risks that any member of this group may be exposed to, such as the owner of a factory and the workers who work in it

Sickness insurance

 In the event the insured suffers from any disease, this insurance covers the costs of treatment. Accident insurance: In the event, the insured is exposed to an accident, this insurance pays an amount to the insured, and it covers physical accidents, death, disability, and so on 

Travel insurance

is an insurance form given to people who travel, to cover losses resulting from accidents that can occur to the traveler during his travels, including payment for any medical treatment, or loss of money and property while traveling? 0 seconds of 0 seconde volume 0% Types of travel insurance Travel always involves many risks, such as disease, accident, loss and theft of property, and other accidents, so travel insurance works to provide assistance to reduce financial losses related to these losses, and there are five main types of travel insurance, namely

 Aviation Insurance

It is a life insurance policy in the event of an aircraft breakdown during the flight. Baggage insurance: This type of insurance covers travelers’ baggage in the event that it is delayed, lost, or dama

in which a person responsible for a group of people pays the premiums of this insurance, which covers the risks that any member of this group may be exposed to, such as the owner of a factory and the workers who work in it

Sickness insurance

 In the event the insured suffers from any disease, this insurance covers the costs of treatment. Accident insurance: In the event, the insured is exposed to an accident, this insurance pays an amount to the insured, and it covers physical accidents, death, disability, and so on

Travel insurance

is an insurance form given to people who travel, to cover losses resulting from accidents that can occur to the traveler during his travels, including payment for any medical treatment, or loss of money and property while traveling? 0 seconds of 0 seconde volume 0% Types of travel insurance Travel always involves many risks, such as disease, accident, loss and theft of property, and other accidents, so travel insurance works to provide assistance to reduce financial losses related to these losses, and there are five main types of travel insurance, namely

 Aviation Insurance

It is a life insurance policy in the event of an aircraft breakdown during the flight. Baggage insurance: This type of insurance covers travelers’ baggage in the event that it is delayed, lost, or dama

Components of an insurance policy There are three important

elements that must be present in the insurance policy, which are:  premium: What is meant by the price that is determined by the insurance company, and is usually paid in the form of monthly installments, and here the insurance companies differ in terms of the prices they offer to the insured person, and this price also varies, as it depends on the risks that the insured thing may be exposed to. on him. Maximum policy limit: where the maximum amount paid by the insurer is determined, in order to cover the covered losses, and the payment period, which may be for life, or a specific period is specified

 Deductible Amount

It is an amount paid by the insurance policyholder from his own account before the insurance company pays his claims. Types of insurance An insurance policy can cover anything in life, but there are important types that every person who plans for his financial future, and for a comfortable and happy life, must be aware of, and of these types are

 Health Insurance

 Health insurance is one of the most important types of insurance that an individual can be interested in. This is because health is the most important thing in a person’s life, and it is what helps him to live in a better way, and to achieve all his desires in life, as a person who does not have health insurance may not be able to obtain treatment or pay its costs if he is exposed to an illness, or an accident. It is related to health, and it is worth noting that the business owner can provide health insurance to his employees, and health insurance can be a personal effort

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