Insurance

What is Insurance?

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Insurance is said to be a legal agreement between an individual and insurance companies, whereby the insurer promises to provide financial coverage (sum insured) against contingencies for an amount (premium). The insurance policies available today are generally divided into two categories.

Type Of Insurance

  • General Insurance
  • Life Inurance

There are different types of insurance policies available in India

Some of the types of insurance available in India are as follows

1. General Insurance

Following are the types of general insurance:

  • health insurance
  • motor insurance
  • home insurance
  • fire insurance
  • travel insurance
2. Life Insurance

There are many types of life insurance in India. Following are the most important types of life insurance plans available:

  • term life insurance
  • whole life insurance
  • endowment plans
  • Unit-Linked Insurance Plans
  • child plans
  • pension plans

Let us know about the different types of insurance policies:

General Insurance

Let us know about the different types of insurance policies:

General Insurance Policy: These policies are one of the types of insurance which provide coverage in the form of sum insured against some loss other than the death of the policyholder or so called general insurance includes various types of insurance policies which Provides financial protection against losses due to all liabilities like car, house, bike, health, and so on. Hence these are covered in all different types of general insurance policies.

Life Insurance