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Insurance is a kind of legal agreement that is used in order to provide reimbursement by an insurance company known as insurer to a person or a complete organization who is called the insured. There are several forms of insurance few of which are as follows:
The promise that is being made by the insurer to pay a sum of money on the death of a person who is being insured by the insurer is known as the life insurance. In other words it can also be defined as the form of contract which is usually legal and it is between the insurer i.e. the organization or company who has made the promise and the person who is common called as the policy holder. According to the policy of life insurance, the sum of money is being paid to the beneficiary who is being designated by the policy holder after its death. However, death is not the only component of the this type of insurance but there are certain other factors as well upon which the payment of insurance may be carried out, these factors may also vary as per policy but the most common forms for the payments that are made in this category of insurance except death includes critical illness and terminal illness. Whereas, on the other hand the policy holder is required to pay a particular amount which in technical terms known as the premium that is required to be paid after certain interval of time.
The other form of insurance is for the vehicle which is also known as car insurance. It is a basically the insurance that is being purchased or taken for trucks and cars or may be for any other kind of vehicle that is on road. The main idea behind the car insurance is to provide financial security against any kind of physical or bodily damage to the insured s car which may occur as a result of an accident or collision on road. The policy and procedure of vehicle insurance may vary at different location of the world but there is one thing that is common for sure in all the different jurisdictions and that one has insure the vehicle in one way or other in order to own a car. However in the case of auto insurance the premium may be determined by the government or may be by the insurance company, depending upon the jurisdiction of any country.
As far as Dubai is concerned there are numerous insurance companies that are regulating the insurance related functions there for a long period of time by the help of insurance brokers in Dubai. There are number of insurance companies of Dubai that serves both high net worth clients and businesses as well. Most of the insurance companies of Dubai are capable of arranging all the various kinds of commercial covers in the business division which may include motor fleet insurance professional indemnity security, office insurance etc. Whereas, on the other hand the insurance brokers in Dubai design a much modified policies for their private clients in order to provide protection for their precious assets such as house, vehicle etc.
Andy Robert is a reputed
Insurance companies Dubai
agent, and has been working in the local
Insurance brokers in Dubai
Term life insurance
business for the last three years. He has worked as a consultant with a number of reputed financial institutions, and is currently residing in Abu Dhabi.