Any risk that can be quantified can potentially be insured.Types Of Policies
Life and Annuity Coverages
Life Insurance:-It provides a monetary benefit to a decedent's family or other designated beneficiary, and may specifically provide for income to an insured person's family, burial, funeral, other final expenses. Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an annuity.
Annuities:-It provide a stream of payments and are generally classified as insurance because they are issued by insurance companies and regulated as insurance and require the same kinds of actuarial and investment management expertise that life insurance requires. They pay a benefit for life are sometimes regarded as insurance against the possibility that a retiree will outlive his /her financial resources.
Health Coverages
Health Insurance:-This will cover the cost of private medical treatments. It will result in quicker health care where better facilities are available.
Dental Insurance:-It will cover for individuals to protect them against dental costs.
Disability Coverages
Disability Insurance:-It provides financial support if the policy holder is unable to work because of disabling illnesses or injuries. It will provide a monthly support to help pay such obligations as mortgages and credit cards.
Total Permanent Disability Insurance:-This will provide benefits when a person is permanently disabled and can no longer work in their profession, often taken as an adjunct to life insurance.
Disability Overhead Insurance:-This allows business owners to cover the overhead expenses of their business while they are unable to work.
Worker's Compensation:-It replaces all or part of a worker's wages and accompanying medical expense incurred because of a job-related injury.
Property and Casualty Insurance
Property Insurance:-It provides protection against risk of property; fire, theft, or weather.
This includes;
1) Fire insurance.
2) Automobile insurance.
3) Aviation insurance.
4) Boiler insurance.
5) Builders insurance.
6) Builders risk insurance.
7) Crime insurance.
8)Crop insurance.
9) Earthquake insurance.
10) Fidelity insurance.
11) Flood insurance.
12) Hazard insurance.
13) Home insurance and homeowners insurance.
14) Marine insurance.
15) Political risk insurance.
16) Surety bond insurance.
17) Terrorism insurance.
18) Volcano insurance.
19) Windstorm insurance.
Liability Coverages
Liability Coverages:-It is something that will cover your legal claims. For example, homeowner's insurance policies, automobile policies. Liability policies typically cover only the negligence of the insured, and will not apply to results of willful or intentional acts by the insured.
1) Environmental liability insurance.
2) Errors and omissions insurance.
3) Professional liability insurance.
4) Directors and officers liability insurance.
5) Prize indemnity insurance.
Credit Coverages
Credit Insurance:-It will repay some or all of your loan back when certain things happen to the borrower such as unemployment, disability, or death. Mortgage insurance is a form of credit insurance, although the name credit insurance is more often used to refer to policies that cover other kinds of debt.
Mortgage Insurance:-Insures the lender against default by the borrower.
Arali:-It is used as a diuretic, expectorant, and emetic.
