What Is Insurance?

Insurance is the most useful risk management tool which can protect individuals and businesses from financial risks arising out of various odds. Insurance is a legal contract between two parties, the insurer and the insured, wherein the insurance company (insurer) covers the financial loss that the insured may face due to unforeseen events. Here the insured pays a fixed amount of premium every month to the company. When the insured makes the claim, losses will be compensated by the insurance company.

What Are The Most Commonly Used Insurance In The UAE?

Car Insurance - Car being the necessity and easy mode of travel for everyone, it is very essential to have a good car insurance policy for the same. Car insurance is meant to save the owner of a vehicle from the financial liability that occurs when his/her treasured vehicle meets with an unfortunate accident or is deemed lost.

Medical Insurance - Medical insurance grants limited coverage to hospital expenses and treatments towards pre-specified illnesses and accidents. It is a pocket-friendly way to decrease any health-related emergency.

Travel Insurance - Travelling is one of the most fun and adventurous trip and passion for some individuals. Making long plans can be more enjoyable when you already have insurance to give protection against instances such as loss of baggage, major medical issues, unforeseen risks while travelling anywhere across the globe, passport and trip cancellation.

Life Insurance - Life insurance is the most popular insurance among individuals worldwide. It is a contract between an insurance policyholder and an insurance company, where the insurer agrees to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period. The total amount is paid to the nominee if the sudden death of the policyholder occurs.

Why Do You Need Insurance?

Insurance is a choice you make, and you should ask yourselves 3 questions before you make that choice - "Why do you need insurance?", and "What type of insurance should you get?" and "Does it support your needs?” Once you have the answers to these questions, you will be able to choose your plan wisely. It is very crucial to have insurance as it is always better to be insured rather than being worried about things later. Insurance not only helps you lead a worry-free life but also fulfils the needs of you and your family. Insurance ensures your financial stability in a time of need and protects your near and dear ones from uncertain circumstances.

Why should you Buy Insurance Online?

Buying insurance online is always the best option as it saves your time and money as you can directly talk to the insurer without any middleman. Speaking to the insurer directly is a benefit while claiming and understanding the plan as it gives you a clear picture of what you are going to pay for. Other than saving time, it is also very important to understand that before purchasing any term plan you can always compare different policies from the insurer's website and do a reputation check before finalizing anything. When you buy insurance online you are eligible for online and prompt services provided by the companies.

Top Reasons to Buy Insurance Online

With the innovations in technology and the internet, most of the things are done online. Buying insurance online can be tough, but it’s the best option to opt for as it saves time and involves less paperwork. Here are some of the reasons why you should buy insurance online:

  • Online portals can help you compare and choose what suits the needs of you and your family.
  • While purchasing online, you have the power to choose the plan and premiums for a plan chosen by you.
  • Online Insurance through comparison sites provide expert assistance through tele callers who are well trained and help customers in the decision-making process.
  • As most of the things are online the paperwork needed is very minimal which saves both time and money.
  • Insurers that help you get the plan that is best for you will also help you in completing your transactions and assist you in every step during and also after the process is completed.

Hence, buying insurance online is a faster and better option to go for than going by the traditional sources. However, as a customer, you should be very particular and understand all the terms and schemes before investing and choosing your insurance policy.

Insurance Providers

Aman Insurance
Axa Insurance
Noor Takaful Insurance
Oman Insurance
Takaful Emarat Insurance
Tokio Marine Nichido Insurance
Union Insurance
Zurich Insurance

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