Easy-to-understand Language

What is insurance?

Insurance is like a help plan. It protects you from big expenses if something unexpected happens—like a car breaking down, getting injured, or damage to your home. Life insurance can help keep your family financially secure, even if you pass away.

If you have insurance, it pays for some or all of the costs, so you don’t have to pay everything yourself. Insurance also provides payouts in cases of injury, disability, serious illness, or death.

What is an insurance company?

An insurance company is a business that offers insurance services. People pay it regular payments (called premiums), and if something unexpected happens—like an accident or damage—the company helps cover the costs.

If someone has life or health insurance, the company pays money in case of an accident or illness. The money goes to the person or their family to help with financial difficulties.

What is a premium and a payout?

A premium is the amount of money you pay for insurance.

A payout is the money the insurance pays when something unexpected happens.
In life insurance, the payout can be made either after an accident or as a saved-up amount for the future.

What services does Compensa offer?

Compensa offers many types of insurance:

• Car insurance, with two types:
• MTPL (Compulsory Motor Third-Party Liability Insurance): This is required by law for all vehicles. If you cause an accident, this insurance pays for the other person’s damage or injuries—but not for your own car;
• CASCO: This is optional insurance for your own car. It covers damage from theft, natural disasters, or other unexpected events, even if the accident was your fault.
• Home insurance: Pays for damage to your home and belongings from things like fire, water leaks, theft, etc.
• Accident insurance: Pays money if you’re injured or experience health issues because of an accident.
• Health insurance: Covers costs for doctor visits, medicines, tests, and other medical services.
• Life insurance: Pays money in case of serious illness, disability, accident, or death.
• Travel insurance: Helps if you get sick during a trip, lose your luggage, or something else goes wrong.
• Other types: Compensa offers other insurance based on what you need.

What’s the difference between Compensa and Compensa Life?

Compensa offers many types of non-life insurance—like car, home, and health insurance.
Compensa Life focuses on life insurance and related services—like insurance for critical illness, disability, or long-term savings.

What can you do on the website?

On the website, you can:

• Learn about insurance services;
• Get insurance offers based on your needs;
• Calculate the cost of insurance;
• Buy non-life insurance online;
• Report a damage or claim;
• Find contact info and other important details.

What is a claim (damage report)?

A claim is a report of losses caused by unexpected events, like a car crash, damaged property, or health problems.
In life insurance, it means a serious illness or death of the insured person.

How is a claim paid?

After a claim is reported and reviewed, the insurance company either:
Pays the money to your bank account, or
Pays the service provider (like a repair shop or hospital) directly.
In life insurance, the payout goes to the person named in the policy.

Where do I report a claim?

You can report a claim here.
Or call the main number: 8888.
You can also use other contact options listed here.

When is Compensa open?

Compensa is open:

• Monday to Thursday: 8:30 AM – 5:30 PM;
• Friday: 8:30 AM – 4:30 PM.

What if I’m not sure which insurance to choose?

If you’re unsure, you can talk to Compensa’s consultants.
They’ll help you find the right insurance for your needs.
You can also use other contact options listed here.