What is an Insurance Coverage

2020-08-27

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8 minutes read

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Insurance coverage refers to the amount you are protected for by the insurance provider. It covers the risk of potential loss that might occur in the future.

Also Read - Insurance Meaning

There are many types of insurance coverage each covering a separate risk. These are:

a) Life Insurance
b) Health Insurance
c) Auto Insurance
d) Travel Insurance
e) Home Insurance

For example, when you buy a life insurance policy, you protect yourself against the risk of death. If you have purchased a life insurance policy and die during the policy, your family receives a death benefit.

Thus, the sum that your family will receive at your death is the ‘insurance coverage’.

To be covered under insurance, you are required to pay small amounts known as premiums.

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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