Showing posts from August, 2008

Understanding Insurance: The Easy Way

"Insurance is a subject matter of solicitation" is the disclaimer written on every insurance brochure. In this sense, it is no better that the oldest profession of the world. However, the solicitation of Insurance companies leaves a lot to be desired. People today, still fear taking insurance because of the arcane words and phrases that is used in Insurance. I too was in the same league, till about a year back - when I decided to upgrade my knowledge about matters of Insurance. In this blog I will deal with the basic types of Insurance that are available in the marketplace. You should note that Insurance companies customize their products and brand them with catchy name. However, the basic product remains one of the following or a combination of the following. So what are these basic types of Insurances? 1. Temporary Assurance: Temporary Assurance or Term Assurance or Pure Protection Plan is the most basic plan being offered by all Insurance Companies. In this type of Ins