What is general insurance and example?

What is General Insurance. Definition: Insurance contracts that do not come under the ambit of life insurance are called general insurance. The different forms of general insurance are fire, marine, motor, accident and other miscellaneous non-life insurance.

What is insurance and general insurance?

While life insurance covers the life of a person, general insurance provides cover to other aspects and assets in a person's life, for example, health, car, travel, home, etc.

What is this general insurance?

What is General Insurance. Definition: Insurance contracts that do not come under the ambit of life insurance are called general insurance. The different forms of general insurance are fire, marine, motor, accident and other miscellaneous non-life insurance.

Which are examples of key types of general insurance?

  • Health insurance. …
  • Motor insurance. …
  • Home insurance. …
  • Travel insurance. …
  • Term life insurance: …
  • Endowment plans. …
  • Money-back policies. …
  • Unit linked insurance plans (ULIPs)

What are the features of general insurance and give an example of general insurance?

The policies cover financial damage and pay customers for their losses. General insurance products give financial stability often in the event of a disaster. General insurance policies are also sometimes required by law. Motor insurance policies, for example, are required there under the Motor Vehicles Act of 1988.

What is insurance and general insurance?

While life insurance covers the life of a person, general insurance provides cover to other aspects and assets in a person's life, for example, health, car, travel, home, etc.

What general insurance means?

General insurance is non-life insurance cover for damage or loss. It includes products such as motor, travel, pet, health and home insurance.

What is difference between general and life insurance?

While life insurance covers the life of a person, general insurance provides cover to other aspects and assets in a person's life, for example, health, car, travel, home, etc.

What is the insurance answer?

Insurance is a contract in which an insurer indemnifies another against losses from specific contingencies or perils. It helps to protect the insured person or their family against financial loss. There are many types of insurance policies.

What are the 2 main type of insurance?

There are two broad types of insurance: Life Insurance. General Insurance.

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