Insurance Products Comparison

Over the last decade, the insurance industry has seen
through a considerable channeling of its products. The different
optional products available in the global insurance market have so far
served with the specific needs of time. But at the same time the
availability of a wholesome product package may have confused the
people to some extent. The prospective applicants for an insurance
policy would find it difficult to choose from a variety of options,
unless they identify the benefits. In case of absolute novices its easy
to choose (the choices being limited), but its difficult to enjoy the
benefits later on. So a careful understanding of the policy benefits
have become a must for everyone.

The different insurance websites have been trying to
explain the benefits of a variety of such policies to the people, in
order to ensure their complete satisfaction. But this seems easier said
than done. In order to weigh the pros and cons of a specific policy we
would first need to understand the nature of policies available in the
market. On the basis of these policies we may choose the different
products (ie. different molds of each policy) that are offered by
different carriers. If we could compare the policy benefits that we may
avail, then we might arrive at a solution. For that we would need to
construct a comprehensive Policy Comparison Table.

The Policy Comparison Table may be depicted as follows:

Policy Comparison Table
(You may edit & add instances)

SL No.	Reason To Apply	Age (years)	Popular Insurance Policy	Recommended Insurance Policy
1.	Accidental Disability	Any	Disability Insurance
2.	Critical Illness	Any	Disability Insurance	Critical Illness Insurance
3.	Health Protection	Below 65	Health Insurance	Health Insurance
4.	Health Protection	65	Health Insurance	Longterm Care Insurance
5.	Home Protection	Any	Home Insurance	Home Insurance
6.	Home Contents Protection	Any	Home Insurance	Condominium Insurance

Once we are through with the features of different
policies & we learn to choose the right policy for us, it is
probably then that we may think of knowing the vast range of products
that are born out of such policies. When we get introduced with the
variety of products born out of a policy, we would surely be able to
distinguish between the areas each product is targeting.

The Insurance Products Table may be depicted as follows:

Insurance Products Table
(You may edit & add instances)

SL No.	Coverage	Policy Products
1.	Life Ins.	Whole Life Universal Life Term Life
2.	Health Ins.	PPO Plans HMO Plans POS Plans Indemnity Plans
3.	Auto Ins.	Property Damage Personal Injury Bodily Injury Collision Comprehensive
4.	Home Ins.	HO-1:Limited HO-2:Basic HO-3:Special HO-4:Renters HO-6:Condo HO-8:Old Home Actual Cash Value Replacement Cost Extended Replacement
5.	Disability Ins.	Non-cancelable Guaranteed renewable Conditionally renewable

Thus, once we are familiar with the areas targeted by
each insurance product, we would surely be able to understand the
benefits offered by these products. This way we may co-relate between
the formation of policies, their products, the aims of such products
& their benefits.