Importance And Importance Of Insurance
Life Insurance: Life insurance is the pooling and protection of fortuitous losses such as financial position loss that may occur or result from the premature death of the insured by transferring such risks to the insurer through a past written agreed contract that indemnifies the named beneficiaries, and this indemnification amount is specified according to the premium amount.
Importance of Insurance: As human beings are ultimately exposed to various types of risk such as; premature death of family head, catastrophic losses and theft losses, so insurance is way or a tool to which reduces the cost and the amount of loss that may result from different risks.
So the importance and role of insurance is described as following:
• Insurance …show more content…
As those properties may be destroyed in any moment, and no one knows the future so no one is hundred percent sure for how long is he going to live, also health and cannot continue the business up to the longer time interval to support his dependents. By the support of insurance, he can be sure of his earnings, because at the time of death, accidents, fire and theft insurance pays a certain amount of money as a compensation for those perils.
• Insurance encourages saving: The insured is obligated to pay certain amount of monthly, weekly or yearly payments which are considered to be savings because of their non-easily withdrawal …show more content…
Our top plan with an unlimited annual limit and most benefits are paid in full.
Premium ( Monthly ) Part A Premium ( 413 $ )
Part B Premium ( 134$ - 429$ ) Silver ( 502$ )
Gold ( 610$ )
Platinum ( 900$ )
& Co-Insurance Part A
• Benefit period which is deductible $1,316
• Days 1-60: $0 coinsurance for each benefit period
• Days 61-90: $329 coinsurance per day of each benefit period
• Days 91 and beyond: $658 coinsurance per each "lifetime reserve day" after 90 days for each benefit period (up to 60 days over your lifetime)
• All costs are over lifetime reserved days. Area of Coverage Egypt International
Benefits ( annually ) Non-Beneficiary • Annual benefit limit: $1,000,000
• Annual benefit limit: $2,000,000
• Annual benefit limit: Unlimited
Purpose Main Purpose is applying free premiums for people over 65 years old and people with disabilities Their main goal is to help customers to have a good healthy life with security, and medical health services provided