Health and Life Insurance is the conventional, simple, and wider concept in the Insurance Industry. Health and Life Insurance is protection with investment. The term Health Insurance refers to compensation against injuries, medicinal expenses, hospitalization expenses, surgery expenses, and so on. Again, Health Insurance is also subject to certain specific terms and conditions. The basic criteria is- any person, who free from any kind of chronicle, inherited and incurable disease, can avail the offers of mediclaim.

There are also certain age limits and set criteria and policies for different age range. For instance, a person (aged 52+) who is previously suffering from a serious heart disease cannot get insurance for his heart treatment because he is pre-primarily suffering from the disease. So the case has to be such that initially the person has get his insurance done and then if he suffers from any kind of disease then he will get full compensation for the expenses he incurs, by presenting his medical bill to the respective Health Insurance company. Initially, a person had to face a lot of complications before getting insured and Health and Life Insurance affords a safe and convenient means of providing for the dependants in case of premature death of the earning member of the family. A person can also make provision for his old age, (monetary needs for ill health, medicinal expenses and for self dependence), by taking up a life insurance policy during his young age. Health and Life Insurance ensures necessary protection to the dependants from unfortunate happenings and good means of investment. It inculcates a habit in people to save compulsorily. If people save in the form of investment, this would prove them the best as because they can earn good return in as much as the maturity value of a policy in excess of total premium paid. Thus, we can conclude the fact that Health and Life Insurance is essential for each on of us, not only for us but also for our family.

Nowadays, a large variety of policies have been designed for various purposes. To name a fewMortgage Insurance, Travel Insurance, Hazard Insurance, Liability Insurance, Co- Insurance, Private Mortgage Insurance, Title Insurance Homeowners Insurance, Accidental Insurance, and many more. Amongst all of these, Health and Life Insurance the most well known, beneficial and widely accepted by people all over the world. The above-mentioned varieties do not come into comparison with Health and Life Insurance. Health and Life Insurance is like Juliea Roberts in Hollywood. In addition, these Insurance-types should not be ignored at all because these are also important. A person may take different types of Health and Life Insurances, depending wholly upon their choices.

There are different kinds of Health and Life Insurance policies, each varying with respective company. Some of the general Health and Life Insurance policies cover the following:

1). There are some policies that are provisioned for the policy holders for his old age, for his/her monetary needs in future for ill health, medicinal expenses and for self dependence. These policies often cover all medical expenses of the policy holder (subject to certain terms and conditions).

2). There are some policies that are provisioned for the policy holders dependants. The sum insured (in the younger age), in case of these kind of policies, is payable only after the death of the person whose life is insured. The premium is paid in two ways- throughout the period or only for limited number years, as may be the case.

3). Some policies that are as good as investment. The sum that is insured by the policyholder is payable either on the death of the person whose life is insured or on the expiry of fixed period, whichever is earlier. If the person or the insurer is fortunate enough to live up to the period specified in the coverage of the policy, then he shall get back the whole insured amount.(Endowment policy)

4). Some policies cover lifetime medical expenses of the policyholder. The policyholder just has to show the medical bills and medical prescription to claim for the expended amount and after that, he will get the amount (full/party), as mentioned in the policy.

Thus, this is all about Health and Life Insurance policies, types, and benefits. Now next we will discuss about the qualities needed by any Insurance firms to make it big and mega Health and Life Insurance Company. This article only deals about UK and US Insurance Company.

There are various parameters to decide the best mega company. These are in the forms of revenue, goodwill, and market value. In US, the best top three rated companies (by revenue) are: MetLife Insurance, Prudential Insurance, and New York Insurance. In UK, the best top three rated companies (by revenue) are: Prudential Insurance, Standard Insurance, and Aviva Insurance. In US, the best top three rated companies (by market value) are: AIG Insurance, MetLife Insurance, and Prudential Insurance. In UK, the best top three rated companies (by market value) are: Aviva Insurance, Prudential Insurance, and Lloyds TSB Group. Now let us have a brief idea about some the major Insurance companies (both in UK and US).

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Prudential: This Company was founded long ago in May 1848 and was previously known as Prudential Mutual Assurance Investment and Loan Association. Its headquarter is based in London. It is a multinational company with its financial services and operations spread worldwide (12 countries including Asia). It employs around 20000 employees worldwide and serves nearly 20 million people worldwide. It had won Management Today/Unisys Service Excellence Award in 1995 and two Call Center Association Awards in November 1995. As far as products and services are concerned, it provides Health and Life Insurance policies, which includes many types of Protection plans, Serious and critical illness cover, Disability coverage, PruHealth (health Insurance)and others.

The Standard Life Assurance Company: It is one of the leading insurance companies in whole of UK. The Standard Life was established in 1825 and was re-incorporated as mutual assurance company in the year 1925. It employs around 12000 employees worldwide. As far as products and services are concerned, it provides Health and Life Insurance policies, which includes many types of Protection plans, Critical illness coverage, Individual coverage, Company coverage, and others. The website of this particular company is provided with this article.

Lloyds TSB Group: It is one of the largest financial companies in UK with headquarters based in London. The company was formed in September 1995 because of merge between Lloyds Bank Group and TSB group. It provides a wide variety of financial and banking services, which also includes Insurance services. It provides life assurance, health assurance, pensions, and others.

A survey was done to get the rankings of Insurance Companies worldwide. The parameters were based upon revenue earner and market value, both. They are AIG (US), AXA Group (France), Allianz Worldwide (Germany), MetLife (US), Generali Group (Italy), Zurich Financial Services (Switzerland), Aviva (UK), Prudential (US), Munich Re (Germany), Manu life Financial (Canada).

Insurance helps in capital formation and economic development. From the above discussion, we can conclude the fact that Insurance, in the forms of protective investment, is not only important to us and our family but to our respective country as well. The above companies contribute a large number of share to countries financial projects of the prospective country. It provides financial security to ones family and medical security to the policyholder, which is subject to certain terms and conditions of the policy coverage.