Insurance is a form of risk management that provides compensation against the risk of an unforeseen loss of /damage to life, health, wealth, or property. An insurance policy is a legal agreement between the insurer and the insured whereby, the insurer or the insurance company promises to reimburse the insured or the dependants of the insured, to a predetermined extent, in exchange for a premium regularly paid at a pre-specified time.

Insurance can be broadly classified as Life Insurance and General (Non-life) Insurance.

Life Insurance +

General/Non-Life Insurance +

Tax Implications On Insurance +