INSURANCE CAN BE CLASSIFIED AS:LIFE INSURANCE: Life insurance is the most popular form of insurance.In this insurance any person can insure himself either against death or for loss of any of his body parts. Under life insurance , each and every insured person has to pay a premium. Life insurance is refundable.
GENERAL INSURANCE: General insurance,unlike life insurance , provide insurance for theft, fire, marine, accident etc. General insurance is done mainly of the properties such as car , stock in trade, building, scooter,TV, house, jewelleries , etc. General insurance is not refundable.
GENERAL INSURANCE IS ALSO CLASSIFIED INTO THREE WAYS:
FIRE INSURANCE: Fire insurance provide safety against loss from fire.
THEFT INSURANCE:Theft insurance provides insurance against theft.
MARINE INSURANCE:Foreign business is done mainly through sea ways.While abroad,both ship and goods transported are unsecure. If ship meets any mishappening and gets damaged , loss of crores of rupees has to incur . Therefore, marine insurance provides insurance facility against such losses.
1 comments:
Wow. Thanks for classifying insurance and providing this useful detail about insurance. With the help of this article I got to know a lot about the various types of general insurance policy.
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