Term insurance is a basic type of life insurance policy. 

Financial plan limitations
Financial plan limitations

In the term plan, the policyholder gets a life cover for a certain period of time and they pay for it. 

In case of premature death, the beneficiary receives an assurance amount from the policyholder. 

On the other hand, if the policyholder escapes the term of insurance, there is no savings or profit in this policy. 

On-Line term insurance plans provide net risk coverage and that is why the premium for such projects is relatively low. 

Postal Life Insurance offers 10 profitable options

Lifelong policy

 Joint Life Boundary Policy

 Assurance of education and marriage endowments

 Warshiki policies

 Endowment policy

 Expected endowment (three payments) plan

 Child protection policy

 Non-medical policy

 Group insurance

Special qualities

Lowest premium rate

 All policies contribute to profits

 Payable on a monthly basis and only up premium

 Payment of cash premium at any post office in Pakistan

 No ceiling for general policies

 Rebirth of Vipagat policies on easy terms

 Loans on policies

 The highest rate of bonus

 Open to all

 Advisor on advance payment of premium

 Payment of premium through pay bill deduction

Founded by the British Raj in 1884 to ensure the lives of the postal mail runners, initially, its services were gradually expanding to him as well as other government employees. 

However, its benefits were not available to the public until 1947 After independence, Postal Life emerged as a major player in the life insurance business and offered its services to everyone

Postal life insurance is the brain creation of the Ministry of Finance. Pak Post acts as its agent. 

However, the Director-General is exclusively responsible for the organization of Pakistan Post management and its operations and marketing for its various products. 

Every money generated is being invested in a controlled post office insurance fund by the Ministry of Finance. 

Pak Post returns the current government rate above the return rate of investment. 

Postal life has a strong presence in rural areas due to its extensive network of post offices. 

Every post office acts as its shop. This gives Postal Life a huge advantage over its business competitors and ensures the highest bonus on their investment while for customers at the lowest premium 

What is insurance?

In technical terms, it is a form of risk management in which the insured transfers the cost of potential loss to another institution in exchange for a small financial compensation. This compensation is called the premium. Simply put, it's like paying a single company a million dollars to protect yourself from any possible future loss. Thus, when it comes to some kind of misfortune, the insurance company you Helps to deal with this situation

Why do we need insurance?

Everyone has this question in mind. Do I really need protection? Life is full of surprises. Something good, something bad. You need to be prepared for the worst. It helps you feel safe and at peace Is. There are many reasons why you may need help, such as serious illness, natural disasters, unexpected deaths of loved ones, and so on. Having adequate insurance in such situations is a major contributor to your financial situation. Therefore, someone who needs your own Should choose the right type of protection accordingly

What is insurance? In technical terms, it is a form of risk management in which the insured transfers the cost of potential losses to another institution in exchange for a small financial compensation. This compensation is called the premium. In simple words,

 It is like paying one million to a single institution to protect itself from any possible loss to the future. Thus, when it comes to some kind of misfortune, the insurance company will deal with you and provide help. Why do we need insurance?

 Everyone has this question in mind. Do I really need protection? Life is full of surprises. Something good, something bad. You need to be prepared for the worst. It helps you feel safe and at peace Is. There are many reasons where you may need help

 Such as serious illness, natural disasters, unexpected deaths of loved ones, etc. Having proper insurance in such situations is a major help in your financial situation. Therefore, one should choose the right kind of protection according to one's needs

1. Life insurance is a traditional form of life protection insurance, designed to protect you and your loved ones from sudden disasters or destruction. It was initially designed to protect it from income families since then,

 It is merely a protection measure for the protection of wealth or as an option to plan the tax. The need for life coverage is calculated on various factors such as the number of dependents on a person, current savings, financial goals, etc

2 . General insurance covers any type of coverage other than life. There are many types of insurance that cater to every aspect of your life according to your needs

a. Health insurance includes your medical and surgical expenses that may arise during your life. In general, health insurance provides cashless facilities in listed hospitals

b. Motor insurance covers vehicle-related losses and liabilities (Two wheels or four wheels) Against different scenarios. It protects against damage to the vehicle and covers the liability of a third party as defined by law against the owner of the vehicle

c Travel Guarantee This protects you from emergencies or damage during your travels. It covers you against uncertain medical emergencies, theft or reduction of goods, etc

d. Home insurance includes contents in terms of the home and scope of the policy. It protects the home from natural and man-made disasters

E. Marine Insurance covers the potential loss or damage to goods, cargo, etc. during transportation

f. Commercial Insurance It offers solutions for all sectors of the industry such as construction, automotive, food, electricity, technology, etc. Risk protection requirements may vary from person to person but the core function of the insurance policy remains more or less the same Is

How does insurance work?

The most basic principle behind the concept of insurance is 'risk polling'. A large number of people are willing to get insurance for a particular loss or damage, and for that, they are willing to pay the required premium. This group of people can be called an insurance pool. Now, the company knows that interested The number of people is very high

 And the possibility of requiring insurance cover at the same time is almost impossible. Thus, it can raise money for companies at regular intervals

 And if such a condition occurs, it also settles the claim. The most common example of this is auto insurance. We all have car insurance, but how many of us have claimed it?

 That way, you pay and insure for the possibility of loss and you will be paid if the given event occurs. So when you buy an insurance policy, you pay this policy as a premium Give regular money to the company. If and when you decide to make a claim, the insurance company will pay all the losses that fall under the policy

 Companies use risk data to calculate event prospects. Probability ratio higher, policy premium higher. This process is called underwriting, the process of testing the insured risk. The company only costs this entity Finds what is insured according to the insurance agreement between the parties. For example, you have insured your ancestral home for 5 million 

The company will only consider the actual value of the house and will not entertain the emotional value that the house may have for you, as it is impossible to value the emotions. There are different terms and conditions for different policies, but the three main general rules are the same for all types. The cover provided for a property or item is for its original value and does not consider any emotional value is done.

The possibility of a claim should be spread among policyholders so that insurance companies should be able to calculate the risk in order to set a premium for the policy. The losses should not be intentional. We have listed the first two points above. The third part A little more important to understand

 An insurance policy is a special kind of agreement between the insurance company and the insurer. This is a 'very good faith' agreement

 This means that there is a vague but very important understanding between the insurer and the insured that is not usually present in regular contracts. This understanding involves disclosing completely and not making any false or intentional claims

 This duty of 'good faith is one of the reasons why a company may refuse to settle your claim if you have failed to disclose all the required information. And this is a two-way road. Of the company Failure to comply with the client is a 'good faith' obligation and may cause great inconvenience to the insurer.

FAQ 1.

What does a risk pool mean? A:

Risk polling means a small group of individual pools with better insurance rates and coverage plans. Purchasing power is better because instead of referring to the insurance company as an individual, you are contacting it as a company

 It can be made by companies or by employees through cooperative societies. Insurance companies also have risk polling. They come together to protect each other with insurance coverage

I. Why should I buy insurance?

A: With the help of a policy, you can effectively transfer potential losses to the insurance company. You can do this for the exchange of fees known as insurance premiums

The advantage of insurance is that it protects your savings in the event of unprecedented costs

if. Who benefits if I buy insurance?

A: Both insurers and insurers want to benefit when you purchase an insurance policy. As an insurer, you are safe in the knowledge that you will be protected from any potential loss. Similarly, insurance companies better money models and assets To make l 

the uses your payment amount as a premium

insurance. What should I look for when buying insurance?

A: When you purchase an insurance policy, you should check the premium and coverage. It should be tailored to your needs. ‘. What is 'Underwriting'?

A: Underwriting is a service provided by insurance companies where companies act as guarantors for insured persons. However, insurance companies

 Are the terms and conditions differ based on the policies purchased?

A: Yes, the policy rules will depend on the type of insurance policy you purchase. There are two main types of insurance, life insurance, and home insurance. Disposal insurance comes from health, travel, home, corporate, and car insurance. Depending on the policy you purchase

 Your terms, conditions, and paying premiums will vary

I. Can I buy more than one insurance policy?

A: Yes, an individual can buy different types of policies. There is also no restriction on the number of life insurance policies that an individual can buy. However, the l of a car

You only have to buy one car insurance policy. 8. Is any insurance mandatory?

A: Yes, for car owners, it is necessary to buy a car insurance policy. Otherwise, you will face legal trouble. 9.

What is the significance of health insurance? A:

 A health insurance policy or medical insurance will protect you from unnecessary medical or hospitalization costs. If you buy medical insurance, your savings will be safe, if you are suddenly admitted to the hospital. Of insurance policy All costs under,

 Such as doctor's fees, hospitalization charges, ambulance fees, OT charges, and medicines will be covered. That way, your savings will be protected. 10. What is an insurance premium?

A: Insurance premium is an amount that the insured has to pay to the insurance company from time to time to buy the policy. When you buy an insurance policy, risk

 How is the premium calculated?

 A: Insurance companies use mathematical calculations and statistics to estimate the value of insurance premiums that they will receive from their clients. Different parameters are used to calculate the premium of different insurance policies

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