Policy: What is life insurance and why should we have one?

An Insurance Policy is a contract that is made independently, between the insurance company and the future insured. It specifies the conditions of a general and particular nature, in order to govern the insurance contract. It specifies the payment by the insured, which is known as premium; where once signed and paid the insurance company will assume the corresponding risk under compensation.

The Insurance Policies were created based on the needs for protection against the risks of a possible future and uncertain event; that is, in the event of an accident that forces individuals and society, since contracting an Insurance Policy compensates for possible unfavorable repercussions, appearing as an element of savings and protection.

Among the characteristics that complement an Insurance Policy, we find professional elements such as the personal data of the contracting party, such as name, age, nationality, place of birth, address. In the case of vehicle policies, it would be the same personal data adding the vehicle data.

Basic elements of an insurance policy

  • Insurer / Insurance Company: It is the entity that will assume the coverage of the risks.
  • Policyholder: Natural or legal person who is signed in the insurance contract.
  • Insured: Natural person on whom the acquired insurance is stipulated.
  • Beneficiary: Is the natural or legal person who will be the holder of the right to compensation.
  • Insurance Policy: Support to the insurance contract.
  • Insurance Premium: And finally, this is the price that corresponds to the purchased insurance.

Types of insurance

  • Civil Liability and Professional Risks
  • Vehicle Insurance Policy
  • Life insurance
  • Home policy
  • Heavy vehicle insurance policy
  • International cargo insurance
  • Travel insurance
  • Medical expenses insurance
  • Hospitalization and emergency policy
  • Family insurance

These are just some of the most important policies between policyholders and insurers; we recommend consulting with a good insurance broker or insurer that allows you to know all the available policies and choose the one that best suits your needs or those of your family.

Related Posts

Deja una respuesta

Tu dirección de correo electrónico no será publicada.