Insurance is a kind of arrangement by an insurance company undertaking to provide guarantee for a money as compensation to an individual or company for paying for any specified damage, loss, death or illness for a specific premium amount that need to be paid by the insurer on a
regular basis. It is also used for paying money to people who are unable to
afford long-term care because of the high cost of treatment as the insurance
amount will be used for covering the expenses (forsikringsselskap norge) . It is the best option for people who are unprepared to pay money for any emergency expenses as the compensation provided by the company will be used for covering all the expenses.
There are different kinds of insurance for different people which includes life insurance, health insurance, travel insurance, property insurance and car insurance (Forsikringer) . When you invest your money in getting the insurance, you will be able to enjoy a large number of benefits which includes monetary benefits and death benefits that will be provided to the family of the deceased person. Health insurance is also a popular kind of
insurance for people who take it for covering in case if they get any kind of
serious medical conditions. The accident benefits of the life insurance cover
provides compensation to people who meets with an accident as the company will give enough money for treatment at a medical facilities as well as for complete recovery so that the victim will be able to recover from the trauma, pain and stress of the accident.
The reasons for taking insurance is that it will provide financial support to the family of the deceased or victim so that they will not face any kind of inconvenience or difficulties in case of any untoward incident (Skadeforsikring) . The company will also offer financial assistance as a way of pension so that the spouse of the insured will get lifelong financial help so that they will live a comfortable life.