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Types of Insurance - Life

To help you understand we have listed the description of commonly available types of insurance, life and general insurance. View to know more!

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Types of Insurance - Life

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  1. What is Insurance? • Insurance is a practice or arrangement by which company or government agency provides a guarantee of compensation for specified loss, damage, illness or death in return for a payment of a premium • In some sense, it’s a thing providing protection against a possible eventuality

  2. Types of Insurance

  3. Life Insurance • Insurance that pays out a sum of money either on the death of the insured person or after a set period • It is a contract between the policy holder and an insurer where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.

  4. General Insurance • General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event • It is basically an insurance policy that protects you against losses and damages other than those covered by life insurance

  5. ThankYou

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