What are Insurance and Insurance Types? Insurance is an arrangement through which your company provides your compensation for your specified loss in your life. Insurance is a type of Contract. There are four types of major Insurance types such as: Home Insurance Vehicle Insurance Health Insurance And Travel Insurance.

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Why do we need Insurance in our life or what is the importance of Insurance? Insurance plans will help you pay for medical emergencies, hospitalization, contraction of any illnesses and treatment, and medical care required in the future. The financial loss to the family due to the unfortunate death of the sole earner can be covered by insurance plans.