About Insurance

What is Insurance? 

Insurance is one of the most commonly sought ways to mitigate your financial risks. When you get yourself insured, you cover yourself and family against future financial uncertainties. 

An insurance policy/plan is a legal contact between the policyholder and the insurance providing company. Under this contract, the policyholder pays regular amounts of money known as the premium, to the insurer.

In return of this premium payment, the insurer indemnifies the policyholder against contingencies mentioned in the contract in the form of a promised sum assured. For example, untimely demise of the life insured, an accident, or damage to an insured house. 

Types of Insurance:

• Life Insurance

             - Term Insurance

             - Unit Linked Insurance Plan

             - Money Back Policy

             - Endowment Plan

             - Child Plan

             - Retirement Plan

• General Insurance

            - Health Insurance

            - Automobile Insurance

            - Home Insurance

            - Travel Insurance

            - Pet Insurance

            - Gadget Insurance

Benefits of Insurance:

1. Coverage against Uncertainties
2. Investment Opportunities
3. Cashflow Management
4. Tax Savings

IRDAI:

The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous and statutory body under the jurisdiction of Ministry of Finance, Government of India. It is tasked with regulating and licensing the insurance and re-insurance industries in India. It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India. The agency's headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001