Basically, insurance means to have a backup in case of any type of loss. In this concept of insurance, we transfer our life, car, or health risk to the companies by getting the insurance. This means we shift the responsibility for our loss to the insurance companies by accepting their terms and conditions.
We face different tragedies in our lives in the terms of accidents, illness, and death. Usually, this happens suddenly, we don’t even plan for these tragedies. Because of sudden loss, we have to struggle hard to cope with these tragedies. To protect and save yourself from these unpredictable accidents we recommend you get a financial safeguard in the terms of Insurance. In this article, we are going to have a detailed conversation on what is insurance, why should you get insurance? as well as list down the types of insurance?