Insurance

About Insurance

Insurance is a kind of protection of your financial losses. It is a basically form of risk management, which is used to finance against the risk of a contingent or uncertain loss.

What we do

We assess the need of the client and risk to be covered on life insurance,We by the help of our associates provides various options in Life Insurance.

  • General Insurance
  • Mediclaim
  • Term Plan

 

General Insurance helps us protect ourselves and the things we value, such as our homes, our cars and our valuables, from the financial impact of risks, big and small – from fire, flood, storm and earthquake, to theft, car accidents, travel mishaps – and even from the costs of legal action against us. And we can choose the types of risks we wish to cover by choosing the right kind of policy with the features we need.

In general, insurance works by spreading the cost of unexpected risks among a large number of people in the same region who share similar risks.

 

How does the concept of General Insurance work?

Insurance is a concept that applies to a large group of people which may suffer the same risk in the same conditions or region. The money collected as the premium can be called as a pool and when anyone faces a loss, the person is paid from that pool.

Still perplexed at how does a general insurance policy come into play? Consider that your mother suffered a heart attack suddenly and she needs a transplant. At the same time, your daughter’s college fee was due. It definitely is a huge expense to be made at the same time and none can be preferred over the other. In this time of stress, the family’s health insurance policy can save your burden and the fees can be paid from the savings. A General Insurance Policy here works to save your burden for money.

Once we've understood what General Insurance is, let us understand how and when will the policy apply.

Types of General Insurances in India

Almost everything is insurable. However, General Insurance in India is bifurcated as Fire, Engineering, Marine and Miscellaneous Insurance. Let us look at them as per the use and general acceptability. Following are the different types of General Insurances in India:

  • Health Insurance
  • Travel Insurance
  • Motor Insurance
  • Marine Insurance
  • Home Insurance
  • Commercial Insurance

Digit Insurance also offers insurance policies for Mobile, Bicycle, Shop Protection, and others.

Life Insurance:

Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person .