No one knows what life has in store for them; one moment you might have it all, the other moment you have lost everything. Due to this, it is recommended that you should save for the ‘rainy days’. It is noteworthy then, that some sort of security is always welcome when one is faced with the unexpected, with such a security possibly being achieved by having one’s assets insured. Insurance, basically, is a transaction whereby the insured (policyholder) pays a sum to the insurer (company selling the insurance), in return for the insurer’s promise to help recuperate, and protect the insured, in case of a misfortune. The insurer, in layman terms, steps in to the insured’s shoes and helps him sail through. In essence, any loss that can be quantified can be covered by insurance, with the...