What is Bima? What is Insurance? And Types of Insurance What is Insurance in Hindi? » Thehindisagar

Hello friends, nowadays everything is being insured. And in many countries including India, insurance has become a compulsion. So do you know what exactly is insurance and why is insurance being given so much importance?

If you are looking for a better understanding of Insurance then you have come to the right place. we this article “What is Bima? What is Insurance? and Types of Insurance” I have brought all the information related to insurance by presenting it for you. You will be able to know Bima Kya Hai and how many types of insurance are there in this article, so read the article till the end.

What is Insurance?(Bima Kya hai) What is Insurance in Hindi

Insurance is an agreement between the policyholder and the company that gives the assurance of a certain financial assistance in case of an accident that may happen. To take insurance, you have to pay that insurance company regularly in monthly or yearly or half-yearly period till you suffer an accident or the term of insurance is over.

Types of Insurance in India

There are two types of insurance in India

  1. General Insurance
  2. Life Insurance Policy / Life Insurance

What is General Insurance or General Insurance? What is General Insurance

General Insurance What is insurance?  What is General Bima?

General insurance is any type of insurance that is not life insurance. General insurance covers the following types of accidental accidents:

  1. Health Insurance Health Insurance
  2. Automobile Insurance Automobile Insurance
  3. Home Insurance Home Insurance
  4. Fire Insurance Fire Insurance
  5. Travel Insurance Travel Insurance

1. What is health insurance?/What is Health Insurance?

In case of any health problem except the death of the policy holder, the policy holder bears certain medical expenses. Such medical expenses are reimbursed or paid directly by the insurance company.

Health insurance covers the following types of expenses:

  1. admitted to hospital
  2. Treatment
  3. Medical bills after hospitalization
  4. Normal day care expenses during the period of hospitalization

types of health insurance

  • Individual Health Insurance: Individual health insurance only protects the policyholder and not his dependents or family members.
  • Family Floater Insurance: Family floater insurance covers all the family members of the policy holder. Generally family members mean husband wife and children.
  • Critical Illness Cover: This type of health insurance provides for some specific health problems like cancer, brain stroke, kidney failure etc.
  • Health Insurance of Employees: It is also called group health insurance. This type of health insurance is provided by the employer for the benefit of its employees.
  • Accident Insurance: This type of insurance covers expenses arising out of fatal accidents.

2. What is Automobile Insurance?

Motor insurance is helpful in insuring the expenses arising out of a motor vehicle accident.

Types of Motor Insurance:

The different types of motor insurance are as follows-

  1. car insurance
  2. bike insurance
  3. commercial vehicle insurance
  • Car Insurance: Car insurance is helpful for car accident expenses. Car insurance covers only four wheelers and neither more nor less. There are two types of car insurance. One is third party insurance and the other is comprehensive cover policy.
  • Bike Insurance: The bike is insured for the expenses arising out of bike accidents. The only condition for this insurance is that the bike should be owned by only one person.
  • Commercial Vehicle Insurance: This type of insurance is done for business purposes. Business organizations often use vehicles to transport raw materials and finished goods and accidents are a common occurrence for them. This type of insurance is helpful to cover such problems.

3. What is Home Insurance?/Home Insurance What is it

Home insurance is done to protect the house from natural calamities such as fire or earthquake and flood. Some companies also provide protection against man-made threats like robbery.

  • Types of Home Insurance: There are following types of home insurance:
  • Home Structure Insurance: This insurance is claimed when the house is destroyed due to any agreed reason.
  • Public Liability Coverage: This type of insurance is helpful to cover damages caused to third parties who were inside the building at the time of construction.

Standard Fire and Special Paris Policy:-

This type of insurance helps to cover the loss caused due to any natural calamity. Examples of some such problems are jade land slides, fires and earthquakes.

  • Hazard Insurance: This insurance covers loss due to dacoity or theft.
  • Contents Insurance: This insurance covers damages caused to the property inside the house like furniture, television, computer, fridge etc.

4. What is fire insurance?/What is fire insurance

Fire insurance helps to cover the loss due to accidental fire. Generally the premium for such insurance is high. The cover is also bigger as compared to the premium paid. Usually this type of insurance is carried by large corporations.

There are different types of fire insurance. Some of them are as follows:

  1. valued policy
  2. specific policy
  3. floating policy
  4. conclusive policy
  5. replacement policy
  6. Comprehensive Fire Insurance Policy

5. Travel Insurance What is Travel Insurance?

Travel insurance helps to cover losses due to accidental accidents while traveling within or outside India. Such policies cover lost luggage, flight cancellations, lost passports, and personal and emergency medical conditions.

There are different types of travel insurance.

  • Domestic Travel Insurance: This type of insurance covers the loss incurred while traveling within the country.
  • International Travel Insurance: This type of insurance is applicable only if a person meets with an accident while traveling outside India.
  • Personal Travel Insurance: This type of travel insurance only covers accidents on a solo trip.
  • Student Travel Insurance: This insurance is applicable only if a student meets with an accident while traveling for study purposes.
  • Senior Citizen Travel Insurance: This insurance is applicable in case of accidents with senior citizens. Senior citizens means people in the age group of 60 to 70 years.
  • Family Travel Insurance: This type of insurance covers damages caused when the family is involved in an accident during a holiday trip.

life insurance policy or life insurance What is? (JIban Bima/Life Insurance)

Life Insurance Policy- Life Insurance

Life insurance is the insurance that on the death of the policyholder, his family is provided with a pre-determined amount. There are many types of life insurance, some of which are important insurance plans.

To know more about life insurance What is a Life Insurance Policy? Read the post

Types Of Life Insurance

There are following types of life insurance

  1. Term Life Insurance
  2. Whole Life Insurance
  3. Endowment Life Insurance
  4. Unit-Linked Insurance Plan
  5. Child Plan
  6. Pension Plan

What is term life insurance?/What is Term Life Insurance

There is no maturity benefit in term life insurance. Under this policy, the policyholder is compensated for the damages only when he dies on time. Term insurance is cheap and at the same time gives more cover at work premium.

Whole Life Insurance

Whole life insurance is the insurance on which protection is given to the policyholder for a long time. Under this policy, the policyholder gets a cover of up to 100 years. The specialty of this plan is that extended insurance is available on it, which means that you just have to pay premium for 10 or 15 years but you will not stop getting the death benefit. If you live to 100 years, then the premium money is returned to you as per the endowment cover.

Endowment Life Insurance/Endowment Plans

In endowment plans, you are given maturity benefits after maturity. If the policyholder dies prematurely, then they get the death benefit. Endowment policy is better for those who do not know how to invest money in the right place and they have to invest along with insurance. Endowment plan gives you the facility of both.

Unit Linked Insurance Plan

This plan is also somewhat similar to endowment. In this plan also you can take insurance along with investment. But in this plan you get more flexibility to invest. Here you can choose for yourself where you will invest.

Child Plan

This plan has been made for those who have to add some money for the future of their children. If something happens to you, then your children get this money, as well as your children keep moving forward in life, children also get some rewards. The special thing about this plan is that you can also pick up money whenever you want.

Pension Plan

This plan is only one type of investment. In this, to protect your old age, you keep investing regularly in 1 fund, which gives a big return due to the longer stay. Provident funds are also included under this, where both the employer and the policyholder make small investments. It is called insurance because sometimes in this type of death benefit is also available.


Hope after reading this article you must have understood why insurance is so important. Have you got yourself insured? If yes then you are a sensible person and if not then get insurance as soon as possible because life is an unpredictable thing. Do you know what will happen when…

you this article “What is Bima? What is Insurance? and Types of Insurance” How did you like it, do share your opinion with us and don’t forget to share the new article Thanks.

Leave a Comment