Consult With Our Well Experienced Staffs to Apply For Best Life Insurance Policies

1. A Brief Summary about Insurance The word insurance usually means protection from any losses especially financial losses. It is a part of risk management which is taken to prevent uncertain losses. The entity providing such insurance is called insurance company, insurance carrier or insurer. The entity which seeks insurance is called policyholder. During transaction of insurance, a policyholder assumes small loss in the form of payment and guaranteed to the insurer and in exchange gets the insurer’s promise to compensate the event of covered loss. The policyholder also receives contract called insurance policy which contains the details of circumstances and conditions to be followed by them. Knowing About Life Insurance There are many types of insurance- auto, health, life, car, property, casualty, income protection insurance, etc. Out of these, life insurance is most popular among the masses. Life insurance is a contract between relative of policyholder and insurance company, whether the latter promises to pay designated sum of money upon the death of the policyholder in exchange of premium. Nowadays, there are many insurance companies which provide life insurance. Life insurance guru Singapore provides supplementary income in case of income loss. They have different range of premium and policies. Therefore, one can choose the best policy for him/her. The insured money provided to the beneficiary depends upon the premium paid by the policyholder. A life insurance has two types of policies- protection policies and investment policies. Protection policies are designed to provide benefit in a specified event. However, the main objective of investment policy is to facilitate the growth of capital by single or regular premiums. Money is also provided in case of critical illness. Types of Life Insurance There are mainly two types of life insurance- term insurance and permanent life insurance. Term insurance is offered by insurance company to cover loss of policyholder. However, it provides life insurance coverage for specified term only. This policy does not accumulate any cash value. It is the cheapest form of life insurance which provides death benefits to the beneficiary of policyholder. Term insurance Singapore also covers for partial or permanent disability of the policyholder. A policyholder should always compare insurance in Singapore for his/her benefit. This is because there are many good insurance companies which offer similar types of policies. By comparing insurance, one can verify the policies and choose the best. Thus, it helps in saving considerable sum of money and having better coverage. This also helps the policyholder to make right decision before any purchase.