What Is The Function Of Insurance?

The main function of insurance is to protect the financial interests of the customers at the time of loss. The insurance premiums are calculated on the basis of probable loss that could happen during a particular period of time and the premium is charged accordingly. The time and amount of loss are uncertain and after the happening of loss, the customer would suffer loss in the absence of insurance. Having a valid insurance policy can reduce the chance of loss and thereby protecting the financial interests of the customer.

Which of the following is not a Function of Insurance?

The functions of insurance are assisting in capital formation, economic progress, risk-sharing, etc. The lending of funds is not a function of insurance.

What is PolicyBachat and How does it help with my Life Insurance Policy Purchase?

PolicyBachat is an online insurance web aggregator which helps in selecting the best insurance policy for its customers based on the customer’s requirements. We at PolicyBachat provide the customer with a wide range of options to select from. The best life insurance policy can be selected online from our portal. We even provide assistance to our customers in selecting the best life insurance policy based on the requirements of the customer.

How Do Insurance Companies Make Money?

Most insurance companies make money in two ways: Charging premiums to the policyholders and investing the insurance premium payments.

Why buy insurance online?

There are many different types of insurance and it can be difficult to decide which one is the best for you. However, by purchasing insurance online, you are able to compare different plans and find the one that suits your needs.

Here are some of the benefits of buying insurance online :

You can compare plans and find the one that suits your needs
You can save money on your current plan by switching providers

can husband and wife both claim maternity insurance?

Yes, it is possible to husband and wife both claim maternity insurance.

Can a policyholder nominate anyone for his Insurance Policy?

Yes. The policyholder can nominate anyone for his insurance policy.

Previous Next

Start Saving Money on Insurance Policy

Compare Life, Health, Car and Two wheeler Insurance rates from top Insurance companies for free.

Start Comparing

1,000+ Reviews

Been Here Before?
Get Back to My Quotes