Welcome to Insurance4India
Insurance in better terms can be defined as a protection against loss of money caused by any untoward incidents. A insurance policy safeguards against all risks, accidents, damages loss of life and property. In India Insurance means two aspects - Savings and Tax benefits.
The Insurance industry in India saw a steady rise since 1990. Some of the major financial corporations entered the Indian Insurance market. Hence various insurance schemes benefitting the consumers were available in the market under various schemes. Life iNsurance policies are quite popular in the market which was divided in various forms like term life policies, endowment policies, joint life policies, whole life policies, loan cover term assurance policies, unit linked insurance plans, group insurance policies, pension plans and annuities. Similarly General Insurance plans are also available which cover vehicle insurance, home insurance, travel insurance and health insurance.
The Insurance Regulatory Development Authority (IRDA) is the regulator for the insurance industry. The Indian Insurance industry comprises a total of 34 players. In the Life Insurance sector there are 16 insurance companies and 1 in the public sector. Insurance is a necessity but there are lots of policies to choose from. Some provide life time coverrage for a specific number of years others for a lifetime. Before you opt for a policy have a look into the various aspects of the policy and and then choosee the best one for you.
A few Insurance companies operating in India are :-
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