An insurance policy is nothing more than a contract between an insurance company, which in the contract is called «insurer» and a person who wants to purchase a policies, which would be called «the insured». This contract between the two is under a series of clauses that protect the insured against any accident contemplated therein.
Types of insurance policies that exist
There are different types of insurance for people, depending on the type of risk they cover and the benefit they offer. Some of the most common are:
Life insurance policy
It is the one that guarantees the payment of a sum of money to the beneficiaries designated by the insured in the event of his death. It can be temporary or for life, and can include additional coverage such as disability, serious illness or accident.
Health Insurance Polies
It has coverage for medical expenses derived from an illness or accident that affects the insured or their relatives. It can be individual or group and can cover expenses according to the insurance purchased.
Accident insurance
It is the one that protects the insured against the economic consequences of an accident that causes bodily injury, disability or death. It can be personal or professional, and can cover both medical expenses and compensation for disability or death.
Liability insurance
It is the one that is responsible for the damages that the insured may cause with his vehicle to third parties due to professional or personal fault or negligence.
Travel Insurance Policies
It is the one that offers assistance and protection to the insured during their trips outside their usual place of residence. It may include coverage such as cancellation, loss or theft of luggage, medical assistance, repatriation, civil liability or legal assistance.
These are just a few examples of the types of personal insurance that exist on the market. Each one has its characteristics, advantages and disadvantages, so it is important to compare the available options and choose the one that best suits the needs and expectations of each insured.
