Insurance Policy

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Insurance Policy
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• Insurance is the concept of paying a certain
  amount every month in anticipation of a future
  difficulty like illness, personal injury,
  accident or death. Insurance has become an
  absolute necessity these days. With so many
  insurance companies providing so many different
  kinds of Insurance Policies and plans, policies
  are becoming more affordable for all kinds of
  people. Some kinds of insurance are mandatory,
  while others are optional.
• Insurance can be meant for anything life
  insurance, automobile insurance, health
  insurance, home insurance, property insurance,
  disability insurance, travel insurance, pet
  insurance, cycle insurance, recreational vehicle
  insurance, sports insurance and so on. There can
  be special policies like flood insurance, ski
  insurance, student's content insurance, long-term
  care insurance, flight, kidnap, extended warranty
  and others. In short, insurance can be purchased
  to cover any kind of a risk.

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• Insurance policies are plans that are provided by
  an insurer to the insured. The policy is a legal
  agreement by which the insured agrees to pay a
  certain amount as a premium to the insurer and
  the insurer in turn promises to cover any costs
  that may have to be incurred in the future for
  the particular person or object that has been
  covered by the policy. An Insurance Policy states
  the kind of premium to be paid, the coverage
  provided, the limits of liability, the policy
  limits, benefits, deductibles, term of insurance
  and other factors.

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• When you approach an insurance company to
  purchase an insurance policy, the company gives
  you a quote that contains all the aspects like
  premiums to be paid, the benefits and so on. When
  you agree to the terms and submit the
  application, the insurance company reviews
  whether you are eligible to receive the
  insurance, and then insures you if found
  eligible. When the situation occurs for which you
  have taken the policy, you can approach the
  insurance company and file a claim to be paid for
  the expenses you incurred because of that
  situation.

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• Insurance can be purchased directly from the
  insurance company or through an insurance agent
  or broker. The main factors to be considered
  while purchasing insurance policies are does the
  policy cover all the risks, are there any limits
  to the policy, are there any hidden costs and
  would the company pay for the claims easily.
• There are hundreds of insurance companies that
  are offering attractive deals on all kinds of
  insurance. You can contact an insurance agent for
  getting the right insurance policy. The internet
  is also a very good source for obtaining quotes,
  comparing various policies and deciding on the
  best one.
• Article Source http//EzineArticles.com/200207

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