Wants care and protection? Believe in the security?? Needs official protection?? Who will take care of them? Who knows how much time he will live or not?? How they will manage after your death?? Did you ever notice that their lives become hell? As we all know that there is no certainty about the machine. Mostly this grantee is taken by the insurance companies.

Insurance is defined as the security of the product by paying some money to the insurance company. In other words, we can say that it’s protection money that the person pays for the security of the future.

Humans purchase luxurious things for their families and children. After the death of the person who will manage these expenditures. Most of us are feared of fire moving toward the fire insurance. Others who are interested in child education will select educational plans of insurance. In short, there are many kinds of insurance.

There are many kinds of insurance including business insurance, life insurance, pet insurance, land insurance, marriage plan insurance, health insurance, motor insurance, education insurance, personal accident insurance, agriculture insurance, property insurance, fire insurance, and many more are available.

Concept of motor insurance in developed and under developing countries?

One of the important insurance services includes motor insurance which is commonly known as vehicle insurance. Motor insurance is mandatory in developed countries such as the USA, UAE, Indonesia, Japan, Thailand, Denmark, China, France, and many more countries.

Now here are some questions why motor insurance is mandatory? What are the scope and benefits of motor insurance? What is motor insurance? Which companies offer motor insurance? What are the criteria for motor
insurance?

What is insurance??

The answer to the first question what is motor insurance the simple answer is that motor insurance is the kind of insurance in which a person pays money for countering the uncertainties. For managing this uncertainty person pays money to the insurance company when he got a car accident or car clash with someone. The insurance company will pay the loss.

Why do we need insurance?

And the answer to the second question about why we need motor insurance, as we all know that the rate of car accidents become high these days. Most of us need protection, and some want to manage everything may be certain or uncertain.

What are the eligibility criteria for insurance?
The most repeated question is which kinds of motors are eligible for insurance. For wheels and two wheels and more than that, the installment is differed according to the kind of vehicle and personal purpose.

Four wheels motors include Trucks, buses, heavy commercial vehicles, light commercial vehicles, multi-utility vehicles, agricultural vehicles, taxi/cabs, ambulances, auto-rickshaw, and many more. Two wheels include bikes, heavy bikes, mountain bikes, and many more in this list.

What are the kinds of motor insurance?

There are mostly two kinds of motor insurance available one is on purchasing and the other is after the purchasing. In the first situation of purchasing a motor the client pay and signs the insurance paper as well. And the second kind of client signs insurance after the purchasing.

As it is mentioned earlier motor insurance is mandatory in developed countries such as the USA, UAE, Indonesia, Japan, Thailand, Denmark, China, France, and many more countries.

Third Party insurance covers injury or death caused to a third person by your vehicle along with damage caused to property. Own damage car insurance policy helps you stay covered against the damages caused to your car due to accidents like fire, and theft.

There are many companies are working in Pakistan since its independence. They include Jubilee Life Insurance, Adam jee Insurance Company, EFU life insurance, United Insurance Company, TPL Direct Insurance, State Life Insurance Corporation of Pakistan, Pak Qatar General Takaful, and many more.

Best motor insurance in Pakistan?

• Adam jee Insurance Company
• United Insurance Company

Adam jee Insurance Company

The most popular insurance company in Pakistan is Adam jee insurance company. This insurance company is work since 1960 in Pakistan and India. Adam jet life insurance also has business in UAE. This company provides many services including engineering Insurance, Fire & Property Insurance, Health Insurance, Marine Insurance, Motor Insurance, Travel Insurance, Agriculture Insurance, Miscellaneous Insurance, and Financial Lines Insurance.
Adam jee insurance company provides the best service including motor insurance. In this service, they offer a customized plan that is according to the client’s income and the condition of the motor.

United Insurance Company

If we are discussing the best business and motor insurance company services company that includes United Insurance Company on the top. This service worked in the subcontinent before the partition. But after the partition, their work started again in Pakistan in 1959. It is recognized as the 4th largest insurance company in Pakistan.

The major services of the united insurance company include Health Insurance, Travel Insurance
Motor Insurance, Crop Insurance, Live Stock Insurance, Engineering Insurance. Like Adam jee, Insurance Company offers a customized installment plan that is affordable for the clients

Life insurance in the USA

Do you in the next instant what will happen to you? Do you a grantee of the life? Do you believe that your life is certain? Have ever noticed the death event of any loved ones? Do you believe in future planning? What will happen to you after your death? How will take care of them? Have you believed in the uncertainty? Are you the only guardian of the family who will next after your death?

There are billions of people who died at every instant in this world, but at the time of death some are giving relief to the family and some become a burden on the family. Some people are future-oriented and life-oriented but unfortunately, they are very less in numbers. Life is not about the planning but it is the name of the implementation.

Most people select life insurance all over the world now here is the question why do they select the simple and precise answer to this question is that they are worried about their family’s future, especially regarding the children.

The main reason for these issues is that human wants to overtake the uncertainty so they want to make different plans that give them relief from the problem. They want everything will go normal and smooth.

To satisfy, this argue takes assistance from different insurance policies that Insurance including business insurance, life insurance, pet insurance, land insurance, marriage plan insurance, health insurance, motor insurance, education insurance, personal accident insurance, agriculture insurance, property insurance, fire insurance, and many more.

Life is uncertain we all are worried about the future, if you are doing a job that is closer to life risk then you have to register yourself for life insurance. In the recent day as the life expectancy of the person goes down just because of urbanization.

In many countries including the USA life insurance is compulsory for the employees. Some insurance companies need a medical test for the person that wants to get register themselves as an insurance consumer. Some insurance companies do not need any kind of medical before insurance.

Conditions for life insurance are given below

• Suicidal case
• No one receiver available
• Accidental death
• Drug abuse
• Murder case

Suicidal case

In the suicidal case, the life insurance amount does not give to the family of the client, instead of insurance amount company is bounded to pay the insurance installment that the client paid before death.

No one receiver available

If there is no one to receive insurance money in the bloodline or the insurance holder mentions then the partial money goes to the government and the reaming goes to the insurance company.

Murder case

In the case of murder of the insurance holder then the insurance company is bounded to pay the insurance amount to the client’s family after the approval of the respective court. Some insurance companies having own investigation board that helps to find out the reality.

Accidental death

In the case of an accident of the insurance holder then the company has to pay the insurance money to the client’s family after the proper and clear investigation.

Drug abuse

If the policy holder is drugs user then the decision of insurance money depends on the condition of the death and time duration. And also it depends on the service providers.

The best insurance companies in the USA are given below

1. Northwestern Mutual
2. Lincoln Financial
3. Guardian
4. MassMutual

Northwestern Mutual

If you want the best insurance policies then have to select a northwestern mutual insurance company that offers the best life insurance. They offer both kinds of life insurance that include term and permanent life insurance policies. These plans are very reliable the minimum duration is 10 years and then 20 years at the maximum level. They return money to the client till 80. The plus point of Northwestern it offers term, whole, and universal policies, and Term policies can be converted to whole life policies.

Lincoln Financial

Lincoln Financial is one of the tops rated insurance companies in the USA. It takes care of the client or the insurance holder’s age and background. It offers a costume plan that can easily be affordable. Lincoln Financial Group offers both term and universal policies. It offers different kinds of insurance. And the payment durations depend on the customized plan. The duration of between 10 and 30 years with coverage options. Plus point Lincoln financial offers without medical certificate insurance.

Guardian

As the name indicate that it is Guardian gives protection as a guardian to your family after you. Since the 1886 guardian provides the services till 2022. These plans are very reliable the minimum duration is 10 years and then 20 years at the maximum level.
And offers to customized plans according to the salary of the insurance holder. Investment management, disability, and retirement planning among other types of individual insurance are available. The plus point is that it Offers term, whole, and universal life insurance policies.

MassMutual

If you want to shortlist the insurance policies that offer the best service in recent years then mass mutual is one of them. It offers the best plans, and the duration is mostly about 15 years maximum and 10 years minimum.

Mass mutual offers different service that includes MassMutual both offering term, whole, and universal life insurance policies with riders. The eligibility criteria for being an insurance holder are 18 years to 64 years. For this purpose, you do not have to submit the medical text report.

Life insurance

Do you have the grantee of the life?? Have you ever thought that what happened with your family after your death? Have you ever noticed other families suffering after the death of a guardian? Are you the single guardian of the family, and always worried about the future of your child? Just imagine that if the guardian of the family needs one month’s relief from his duty, then what will happen with the family.

Do you feel that your family is independent they do not need your assistance they can manage their own after your death? Then take a one-month gap from the family expenditure then you will realize how much they depend on you. From the child’s school fees to gasoline bills they depend on the guardian.

As we all do not know that will happened to us at the next moment. Especially in the case of death, there are billions of people who died due to different reasons. But the reason main issue is that. They do not have a backup plan. Then you have to make a backup plan for the family that gives comfort to loved ones after your death. Let’s consider being a father you have not given one month’s bill the electricity, gasoline bill, water bill, or grocery bill.
Just consider the worst situation your parents have money that they spent on your funnel, now how they will manage the rest of the year. We all move toward life insurance or any other kind of insurance for seeking befits.

Different kinds of insurances are available in the market you can select which one is suitable for your family as well as your future. Insurance includes business insurance, life insurance, pet insurance, land insurance, marriage plan insurance, health insurance, motor insurance, education insurance, personal accident insurance, agriculture insurance, property insurance, fire insurance, and many more. These all are major insurance they also have subcategories that can be gotten by the client on the need.

Let’s move back to the topic of life insurance, if we simply explain the concept of insurance then we can say that it is protection money that the client pay in return for benefits and protections. This money deposit by the client on a monthly bases or yearly bases depends on the client’s income.

Now here are some questions what is life insurance? Who receives the policy amount after the death of the client? How you can explain the importance of life insurance? How many companies offer life insurance? Which are the best companies for life insurance? What are the major kinds of life insurance? What are the conditions of life insurance? What are the eligibility criteria for life insurance?

Let’s find the answer to these questions together, the first question was what life insurance is, the simplest definition of life insurance is the protection of life that the person pays for any uncertainly that will happen to the person. This money gives some kind of relief to the client’s family. This payment or money is typically paid by the client according to the contract.

The second question is who will receive this money, the answer to this question. When the client is alive he will make the proper will and mention the name of the receiver of the policy. These receivers may be a wife, children, a parent even friends, and another person who you want to give.

If in any case, the client mentions the name of specific people in the will and they died along with the client then this money belongs partially to the state and a major contribution goes to the organization.

Importance of life insurance

• It gives protection to the clients.
• Give protection to the client’s family after the death.
• It gives emotional support to the clients.
• Gives a good reputation in society.
• Backup plan for the family.
• Makes your family secure.
• Best deposit of the money.
• It helps to secure children’s future.
• Makes life comfortable.
• It gives the advantage of a loan.
• You can break policy at any point and receive money.

Top Life insurance companies

There are many private and government are available in the market Life insurance companies include Jubilee Life Insurance, Adam jee Insurance Company, EFU life insurance, United Insurance Company, TPL Direct Insurance, State Life Insurance Corporation of Pakistan, Pak Qatar General Takaful, and many more are available in the market.

Major kinds of life insurance are given below

1. Term life insurance
2. Permanent life insurance
3. Whole Life
4. Universal Life (UL)
5. Indexed Universal (IUL)
6. Variable Universal (VUL)

Term life insurance

Term life insurance is the major kind of insurance in which clients have to pay at a specified interval for example it could be 20,30 or 40 years.

Permanent life insurance

Another kind of insurance that the person has to pay entire life, this permanent life insurance is quite complicated and expensive. In the payment, a person has to pay lifelong even through then pension. In this type of insurance, there is no customized plan available it takes your lifelong saving.

Whole Life

Another kind of insurance that is mostly used by the customer in which they can use is money at any instant of life. This saving helps to take loans.

Universal Life (UL)

This is the kind of insurance in which policyholders allow the insurance company to invest in the different domains and gives the interest money client.
Best companies that offer life insurance
Efu life insurance.

This company work in Pakistan and India since 1992. This company offers incredible life plans that offer Term life insurance, Permanent life insurance, Whole Life, Universal Life (UL), Indexed Universal (IUL), Variable Universal (VUL), and many more. They offer a costume plan that is according to the salary of the client.
Efu offers the best plan some are with interest and some are interested in free. Other plans of efu include Unit-linked products, Critical Illness Products, Education Planning products, Inflation Protection benefits, Pension Plans, and many more