Posts Tagged ‘History of Insurance’

Accident Insurance Policy

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The idea of health insurance was designed by Hugh the Elder Chamberlen in 1694.

accident insurancewas being made available to the people in the late 19th century. It was first offered in the United States by the Franklin Health Assurance Company of Massachusetts.

A health insurance policy is a contract made between an insurance company and an individual who wishes to get insured. Here the insured one is informed, in advanced, about the cost of health care that will be covered by health plan in the contract.

The insured person has to pay a certain amount as a premium in different modes-monthly/quarterly, half yearly; for it’s health care. The contract can be renewed on an annual or monthly basis.

Nearly every person takes health insurance due to ease in availability of it.  It is quite beneficial to a person to get health insured as taking care of ourselves is not possible every time.

3 comments - What do you think?  Posted by Bharat Prajapati - December 17, 2008 at 8:44 am

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