The idea of insurance policies is relatively new and not very popular in Egypt but in many countries they are an know more info from

Insurance Policies: Do We Really Need Them? | Faydety

The idea of insurance policies is relatively new and not very popular in Egypt but in many countries they are an essential part of life. From car insurance policies to health and life insurance policies many people around the world can not contemplate not having one.&nbsp;Are insurance policies an exaggerated product or not? Let’s find out.&nbsp;There are many types of insurance policies available but the most important ones are:&nbsp;<ol><li>Life insurance policies.</li><li>Health insurance policies.</li><li>Property insurance policies.</li></ol>&nbsp;<h2>Isn’t getting health insurance a bad omen?</h2>&nbsp;Many people in our society believe that getting an insurance policy invites bad luck to knock on your door and that if they do get a life or health insurance policy they are challenging the universe.&nbsp;In reality having health insurance is helpful especially if you have a family because if God forbid you get sick or are in an accident and are unable to work as a result the insurance claim would help greatly and at the same time pay your medical bills.&nbsp;&nbsp;<blockquote>Insurance policies help secure both your and your family’s futures.</blockquote>&nbsp;<h2>Are insurance policies obligatory by law?</h2>&nbsp;So far, no they are not however a recent law was presented to parliament to make car and commercial property insurance obligatory. There was even a proposal for divorce insurance policies.&nbsp;&nbsp;<h2>Benefits of insurance:</h2>&nbsp;<ol><li>If an accident or damage occurs to your assets you know someone has your back when it comes to expenses.</li><li>You can insure your children’s future education so that in case something happens to you their educational expenses are provided for.</li><li>Car insurance policies help you pay repair fees if you are in an accident. Coverage depends on the terms of each policy.</li></ol>&nbsp;In conclusion we can definitely state that insurance policies are very good to have. You don’t need to worry about your future or your family’s future.&nbsp;Getting an insurance policy does present an extra financial burden no doubt which is why you should always find the best policy for both your needs and financial means.&nbsp;&nbsp;Get an <a href="https://www.faydetyinsurance.com/en">insurance policy</a> now through Faydety.

Find out more on the benefits and types of insurance available

Insurance Policies: Do We Really Need Them?

Insurance is a contract, in the form of a policy, in which an individual or entity receives financial protection and/or compensation against losses from an insurance company. Insuring something means diverting the burden of payment for its loss from a personal responsibility to one that the insurance company bears on your behalf, in a certain percentage, depending on the type of insurance you have.&nbsp;&nbsp;The insurance company relies on calculating the probability of a loss or damage to an insured asset. If there is a high probability, then the insurance cost tends to be expensive; on the other hand, if the probability is low, the insurance cost tends to be relatively cheaper.&nbsp;Let's start with the basics.&nbsp;<h2>Insurance Policy:</h2>&nbsp;As stated briefly above, an insurance policy is a contract between you and an insurance company. This policy outlines your agreement's details and determines the claims that the insurer is legally required to pay in exchange for a premium. It essentially states that the insurer must pay for any loss or damage caused by risks covered under the policy.&nbsp;<h2>Insurance Premium:</h2>&nbsp;An insurance premium is a certain amount of money that you need to pay periodically in exchange for the maintenance of your chosen insurance policy. If you are unable to pay the premium, the insurance policy will be forfeited. If this happens and you decide you would like to keep your coverage, you may be required to pay a fine or charge a higher premium accordingly.&nbsp;<blockquote>The insurance company relies on calculating the probability of a loss or damage to an insured asset</blockquote>&nbsp;<h2>Types of Insurance:</h2>&nbsp;There are many different types of insurance. Though it is possible to divide them into two basic categories, under which the other types of insurance fall, the two categories are:&nbsp;<h2>Life Insurance / Health Insurance</h2>&nbsp;Life insurance is a contract between you and an insurance company where, in exchange for premium payments paid by you during your lifetime, the company will pay a sum of money to your beneficiaries after your death.&nbsp;&nbsp;Health insurance covers medical expenses that may arise due to illness. These expenses could entail costs of hospitalization, cost of medicines, or medical consultation fees.&nbsp;These insurance types are primarily based on individuals, although some countries go one step further and provide pet insurance. This is because, at times, the cost of medicines and veterinarian visits are higher than the costs of individuals.&nbsp;<h2>Property Insurance / Disaster Insurance</h2>&nbsp;This type of insurance reimburses an individual or business and protects a physical property against loss from theft, fire, natural disasters, etc. Property insurance covers the building or structure itself as well as its contents, whether personal or corporate, including furnishings, inventory, and other items.&nbsp;Get your <a href="https://www.faydetyinsurance.com/en">Insurance Policy</a> Now through Faydety!

What do you know about the Insurance system in Egypt? and what's its Policies, Premium, and kinds? All you need to know about insurance

Insurance Policies: Do We Really Need Them?

Find out more on the benefits and types of insurance available

Isn’t getting health insurance a bad omen?

Are insurance policies obligatory by law?

Benefits of insurance:

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