What is Insurance Policy and how does it work for beginners


Insurance Policy means it's works internal legally contract the insurer and policyholder. When a people open an insurance account he must support their terms and conditions. This terms and conditions works when an insurer agree to pay a premium to his own insurance company and insurance company agree with the insurer for his future probably loss unforseen event.

Insurance company help their put together an accurate assessment of their fininacial or risk that insurer are insuring. 



There are many insurer use online questionnaire calculations and experience customer service represents to help their insurer fill there details. 

Insurance covers probably a good idea to check out exactly what is coverage under the insurers insurance policy and insurers will understand when they can use and cannot use. 

For example an insurer insuring his home property. The insurance company ask there some questions about this property.  Because of it has been well maintained. An insurance company question there insurer that's how much this property old and How it make or construction map. The insurer must need all question answer can told properly. It is very important for every insurer. Because of the insurance company will calculate the risks of there insurer property based on there answer.





We know a proverb that honesty is the best policy. If any insurer have not answered properly as a result accurately disclosed all of the information about there property. When this property will loss any media when they renew a policy the insurer may not be legally obliged to pay out some or all their claim.


The insurance policy limit is the maximum amount he will pay under a  policy for covered there loss. Generally higher limits carry higher premium. For example an insurer who have a permanent life insurance. If he will pay maximum amount  by the insurance company and it's process referred to as the face value. And the amount paid a benificieary upon the death of insurance.


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