Key Insurance Principles:

• Risk Pooling – The financial burden of a few losses is shared by many people.
• Indemnity – Insurance puts you back where you were economically, not in profit.
• Insurable Interest – You must have a financial stake in what's insured.
• Utmost Good Faith – The two parties must be forthright with each other.

Key Points: Life Insurance vs Health Insurance

1. Purpose:

• Life insurance provides financial protection to your dependents after your death, ensuring their financial stability.
• Health insurance covers you against medical costs during your lifetime and helps you manage the expenses of hospitals and treatments.

2. Benefit Type:

• Life insurance provides a lump-sum payout after the policyholder's death to the nominee.
• Health insurance covers hospitalization, surgery, and medical treatment either by way of reimbursement or cashless.

3. Duration:

• Generally, life insurance is a long-term policy meant for financial planning and security.
• Generally speaking, health insurance can be re-evaluated annually to re-establish medical protection.

4. Core Difference:

Life insurance provides support in the case of financial needs after death, while health insurance protects against medical expenses throughout one's life.

Understanding Premium, Coverage & Claim Process

These three terms define every insurance policy:

They manage currency value through:

• Premium: The periodic payment that keeps your policy in force
• Coverage: The risks, sum insured, and exclusions that your plan covers
• Claim Process: The process by which one gets benefits if some insured event takes place.

These three terms define every insurance policy:

In our quizzes, you’ll practice:

• Reading sample policy outlines
• Providing estimates of premiums based on the age or level of coverage
• Determining whether a claim would be accepted based on terms and exclusions

Top Insurance Myths Busted

Many people delay insurance because of some common misunderstandings:

Common Myths:

• Insurance is only for older people.
• “Employer health cover is always enough.”
• "Insurers never pay claims."

Reality Through Quizzes:

• Learn how early insurance costs less and offers longer protection.
• Discover why personal health cover matters even with company insurance.
• See how honest disclosure and documentation improve claim approval chances.

Busting these myths helps you see insurance as a planning tool and not a burden.

How to Choose the Right Policy for You

Choosing the right policy depends on your:

• Life stage and dependants
• Income level and lifestyle
• Existing coverage and risk appetite

Our Quizzes Help You Practise:

• Comparing policy features and benefits
• Checking waiting periods, exclusions, and coverage limits
• Balancing the affordability of premiums with adequate protection

By solving realistic scenarios, you will learn how to:

• Identify suitable coverage for young professionals, families, and retirees
• Review policies with confidence
• Make informed decisions when directly contacting agents or using comparison sites.