Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. Insurance covers
Life Insurance
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Loan cover: if someone has taken an education loan, it covers the guarantor of the loan if the person who took loan dies before complete repayment
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Education corpus: saving money for higher education of children
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Retirement corpus: saving money for life after retirement
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Wedding corpus: accumulating wealth for children’s marriage insurance.
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Child
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Savings
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Retirement
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Protection
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Health
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Travel
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Car
Non-Life Insurance
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Home
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Office/SHOP
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Vehicle----- 2W/4W
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Health----- SELF AND FAMILY
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Medical Reimbursement: get back the money paid for treatment
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Cash Allowance: daily allowance for patient and family members
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Critical Illness: for specific diseases
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Personal Accident: cover for accident
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Opinion: getting opinions from to overseas doctors
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Cash Less Card-Hassle free claims
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Tax Benefit – u/s 80d
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Coverage of pre-existing illness and diseases
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Cover for senior citizens (above the age of 60)
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Insurance cover till the age of 100
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Maternity coverage
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Dental coverage
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Travel
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Mediclaim
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Loss Of Baggage
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Liability: legal expenses
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Loss Of Passport
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Personal Accident
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Repatriation: getting home the remains in case of death
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Other Insurances
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Laptops
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Mobile Phones
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Jewelery
Corporate Insurance
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Fire: building and components (inventory and other assets)
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Employees (group insurance)
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Mediclaim
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Personal accident
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Life
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Machinery break down
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Electronic equipment breakdown
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Fidelity guarantee (fraud)
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Marine insurance---transit
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Liability insurance
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Errors and omissions for soft wares
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Directors and officers liability
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Product liability
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Product recall
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Credit insurance
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Keyman Insurance
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Project insurance
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Employer-Employee Benefit