Sep 19 - 25, 20

Insurance solves the monetary problems at the time of need or in any serious troubles in a life period of a person.

Anyone is registered with an insurance company for the safety of his life, property, house, health, cars, motorcycles, buildings, flats, plots, air travels and many other lives related problems.

Insurance policy is a basic need of a family or a person after the death of an earning member.

Life insurance is arguable and the best investment in today's financial arena. It brings peace to human mind at a affordable price. It is thus valuable to protect our self and our loved one's against any eventuality or crisis in life. Too many people in the country are not sufficiently protected with life insurance and many do not realize that just for pennies a day they can protect their family with life insurance.

Insurance policy allows anyone who suffer a loss or accident to be compensated for the effects of their misfortune . It lets us protect our self against everyday risks to our health, house, and financial situation. Insurance policy is a way of providing legacy, a plan under which regular payments are made to a company during somebody's lifetime and in return the company pays specific sum to the person's beneficiaries after maturation of policy or after the person's death.

A life insurance policy is a contract between the policy owner and the insurer, when the insurer agrees to pay a sum of money upon the occurrence of the insured death in return, the policy owner agrees to pay a stipulated amount called a premium at a regular intervals. Insured events that may be covered include: death, diagnosis of a terminal illness, diagnosis of critical illness, disability due to ill health, permanent disability, and accidental death.

Life insurance supports things at the many stages of one's life. The life insurance policies help one plan future, while offering protection against the financial repercussions of anyone death by providing a death benefit to one's beneficiaries. It provides affordable protection for a predefined period so it is often used to serve temporary protection needs.

There are many different types of insurance policies such as life, health, households, building, plot, motorcycle, car, travel, holiday etc. Each insurance policy has its own value for the insurers. One must realize the importance of insurance policy, because it provides safety to a person at the time of loss or theft. Many people around us have future dreams and planning. It is quite natural for a human being to worry about those whom he loves. Especially the people who are in charge of their families have their minds running for the care, safety and health of their dependents.

The human life value is central to protection against any loss, virtually life insurance aims to provide protection against all odds.

In Pakistan, the periods from 1950 to 1960 were commanded by private life insurers who were engaged in marketing and selling their life insurance plans and policies in the country.

Pakistan's insurance sector was nationalized in 1972 and a state life insurance corporation was established by merging all the insurance companies, with a view to run insurance business on sound footing, providing more efficient service to the policyholders, and maximizing the return to the policyholders.

At present, there are about 51 important insurance company who are providing all sorts of benefits to the policyholders, who are engaged in office works both government and private companies.

Life insurance and health insurance policies are the two most important segments of the insurance policy. Other policies are also equally important. All insurance policies provide immediate financial help to the policyholders at the time accident or loss of life of an insured person.

Normally, a health insurance plan covers the family, which includes wife and children of the insured person. The standard policy covers hospitalization in the event of illness or an accident. The insured patient can also get a room rent and the fees being paid for the laboratory tests and other treatments which are allowed in the health insurance cover one has acquired.

The health insurance companies have their approved panel of the hospital. As soon as the insured person gets admitted into one the hospitals on the panel, the hospital informs the insurers to send their doctors who have been assigned the job to visit the hospital within the defined region and zone to keep a track of the insured patients physical condition and the improvement as well as the quality of services rendered by the hospital.

Critical illness or fatal diseases are the main hazard which is covered and the best part of health insurance plan. In these days, the treatment for the critical illness such as heart attack, cancer and kidney failure are much higher than the affordability of common persons.

At present, the cost of treatment for cancer is between Rs140,000 to 60,0000, the cost of Angioplasty is from Rs150,000 to Rs750,000. The heart bypass surgery costs from Rs160,000 to 360,000 in special condition. MRI Rs18,000 to 25,000, hernia surgery might cost from Rs35,000 to 50,000 and Thallium Scan fees would range from Rs25,000 to 30,000.

While taking a very close look at the these above cost structure of the treatments, one can easily realize how difficult it might become when he or she is caught with anyone of the illness. In fact, there are many other benefits of insurance.