These are the Benefits of Life Insurance

Rajan Kathayat

Kathmandu. Non-life insurance is an insurance to be freed from the risk of loss of movable and immovable property. Non-life insurance is a contract for a fixed period. There is an agreement between the insurance company and the insured person. Such agreements are called contracts.

In the case of loss or damage to the insured property or death or disability of a person etc. within the specified period of the contract agreement, the insurance company will pay the compensation to the concerned party based on the extent of the actual loss within the scope of the policy.

In the case of loss or damage to the insured property or death or disability of a person etc. within the specified period of the contract agreement, the insurance company will pay the compensation to the concerned party based on the extent of the actual loss within the scope of the policy.

Miscellaneous insurance includes personal accident insurance, collective accident insurance, road insurance, workers’ compensation insurance, domestic insurance, animal insurance, medical expenses insurance, theft (robbery) insurance, bankers’ compensation insurance and fidelity bond etc.

Accidental fire and open flames are covered under fire insurance. Compulsory third party liability insurance, package insurance are types of motor insurance. Insurance can also be provided for the risk of strikes, riots and subversive activities.
Types of Life Insurance:

Marine Insurance: Carrying goods from one place to another during trade or business or doing other work can be bad. The insurance for the damage caused while transporting the goods from one place to another is called marine insurance. This insurance is suitable for doing business.
Fire Insurance: Fire insurance is included under non-life insurance. Along with the crisis in the insurance sector, the trend of fire insurance is increasing. Fire insurance is insurance for buildings, goods kept inside the building, machinery and other immovable assets.

The situation in which an accident occurs due to the accidental release of flames is called fire, and in such a situation, the insurance that provides financial compensation from the said risk is called fire insurance. Fire insurance is a contract made between the insured person and the insurance company for compensation in case of fire damage. If there is any loss due to fire in the future, fire insurance is taken to cover it. If there is fire insurance, the compensation given by the insurance company is protected in case of fire and accidental damage.

Which saves you from the danger of having to wash your hands from your profession or business. Air insurance Air transport is also not free from risk. The danger of various types of damage and loss is widespread in this area. Air insurance is the insurance that covers the loss of life, property, etc. caused by an air accident.

Vehicle Insurance: Vehicles moving on the road by mechanical power, motorcycles, cars, buses and other equipment are included in this insurance. There is a lot of risk of vehicle breakdown, so the risk or damage can be reduced by getting vehicle insurance. Benefits of insurance Savings:

Insurance can also be taken as savings but this savings cannot be withdrawn at any time like in a bank. Any citizen takes insurance for his goods and equipment. As a result, the insured gets the amount for the claim payment.

Loan facility: When taking insurance, you can get loan facility from the insurance company. Companies can give loans to their Insured in a particular situation according to their needs and capacity.
Tax exemption While insuring, the insured can also benefit from revenue discounts. According to the Income Tax Act, there is provision for tax exemption on income if insurance is taken. Helper in Difficulty If the insured dies due to any reason, the insured’s family does not have to depend on others for their livelihood. The insurance amount helps the family to manage their livelihood. Therefore, insurance should not be different from a fellow traveler.