PAN has become an essential part of any financial transaction, it is now mandatory to obtain a PAN for you. Moreover, it is a widely recognized photo identity and proof of address.
A passport is a travel document, usually issued by the government of a nation, which certifies the identity and nationality of its holder for the purpose of international travel. Standard passports contain the holder's name, place and date of birth, photograph, signature, and other identifying information.
Life insurance is a contract between an insured and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses are also sometimes included in the benefits.
Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care and health system expenses, among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is available to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.
General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance.