Namma Policy

Understanding Insurance

How Insurance Works

Insurance is a financial safety net that protects individuals, businesses, and assets from unexpected losses. By paying a small amount called a premium, policyholders transfer the risk of potential financial loss to an insurance company.

Policyholder and Insurer Relationship

The policyholder buys a policy. The insurer agrees to cover specific losses listed in the policy.
Regular Insurance Payments

Regular payments made to keep the policy active. The amount depends on risk, coverage type, and claim history.
Claims Process

Policyholder files a claim; insurer pays per policy.
Coverage Details

The policy outlines covered losses and coverage limits.