Investing in insurance is a common trend that helps individuals secure financial safety and protect their health for themselves and their families against unforeseen risks in life. However, many people still can’t distinguish between the two most common types of insurance today, which are health insurance and medical insurance. So, what are the differences and…
While both these policies seem to overlap, there is a keen line of demarcation between the two. Personal accident insurance plans pay you or your nominees with a lump sum when you are diagnosed with an accident. Critical illness insurance plans, on the other hand, offer you a lump sum payment, when you are diagnosed…
You probably would have a life insurance policy to protect the financial needs of your family after your death and a medical insurance policy to act as a cushion and take care of your emergency hospitalization expenses. But do you have personal accident insurance? Unlike other popular insurance plans, not many people are aware of…
Insurance is divided into numerous product types based on the insured object, operational nature, or participation method. I. Commercial Insurance There are three types of commercial insurance in the market, including life insurance, non-life insurance, and health insurance: 1. Life Insurance: Life insurance is a type of insurance for cases where the insured person is…
Assets play a crucial role in achieving the goals of individuals and businesses, with fixed assets holding particular importance, contributing significantly to the benefits of enterprises. Hence, obtaining insurance for fixed assets is essential. The fixed property insurance premium becomes a noteworthy expense that individuals and businesses need to consider. Explore the content below for…
A property insurance contract serves as the legal basis for resolving compensation in the event of an incident. Therefore, clients need to thoroughly read the terms and conditions to ensure their rights. 1. What is a Property Insurance Contract? Property insurance is a type of non-life insurance, and when participating in property insurance, it is…
When facing risks covered by insurance that lead to financial losses, the insurance company is responsible for compensating the insured party. So, what is the principle of compensation in insurance? Is there anything special? 1. Principle of Compensation in Insurance: The principle of indemnity is a fundamental principle of insurance law. According to this principle,…
1. What is Property Insurance? Property insurance is a basic non-life insurance business regulated by Article 7 of the 2010 Insurance Business Law and defined as follows: “Property insurance is an insurance product whereby the insurance company commits to compensate the insured party for losses incurred to the insured property as agreed upon in the…
At present, in addition to social insurance, many organizations and individuals also participate in commercial insurance. So, what is commercial insurance and what are the advantages that attract many people to participate? Let’s explore the characteristics of commercial insurance in the following article. 1. What is Commercial Insurance? When you begin to explore insurance, understanding…
Life insurance is no longer unfamiliar to the public due to the development of society’s demand for cost-effective services, health protection, and the construction of future lives, which are always of concern. However, to clarify the concept of life insurance, its benefits, and the common types of insurance today, what should be noted when purchasing?…