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Types of insurance | Life Insurance | General insurance

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Type of Insurance

Friends, Normally people are not aware about the benefits of insurance. and what types of insurance are available. so, in this article we are discuss the main types of insurance and different things on insurance can be taken.

Insurance services can be divided into two main categories, depending on the policies and business services of insurance companies. here are Types of insurance. which are as follows:

  1. Life insurance
  2. General insurance

Life insurance

Life insurance is the most popular form of insurance service.

Whole-life policy, which covers the whole life, pays a certain amount to the heir after the death of the insured.

In Life Insurance, During the life of the Term Insurance Policy, the specificity of the Term Insurance policyholder receives regular income over a fixed, fixed term or periodically.

Life Insuarnce-TaxIndia

Accident Policy, which provides additional protection against accidents, is likely to increase the likelihood of road, rail and air traffic accidents in the modern times. thus, The insured receives an additional amount of money against the casualties covered by it.

General insurance

In modern times, the prevalence of illness due to physical and mental labor as well as stress has increased from a very young age. so, The insured is protected against the financial costs incurred for the treatment / medication required for his own illness.

Read More:Importance of Insurance

Fire risk insurance protects domestic and commercial buildings as well as the contents of the fire from damage. Hurricanes, floods, floods, Earthquakes extend into natural / man-made disasters.

Fire risk insurance-TaxIndia

Marine Insurance Insurance This type of insurance includes the liability of the ship, the luggage, the crew, the passengers and the owner. It protects against fire, hurricanes or other marine danger. Damages to third parties are also covered.

Marine Insurance-TaxIndia

Vehicle Risk Insurance (Motor Vehicle Insurance) protects against the loss and theft of vehicles such as cars, trucks, motorcycles.

Motor Vehicle Insurance-TaxIndia

Burglary / Theft Insurance protects against damage caused by theft robbery, rather than reserved for insurance.

Theft Insurance -TaxIndia

Apart from this, insurance services such as crop insurance, livestock insurance, guarantee / risk insurance etc. are also available.

livestock insurance-TaxIndia

Thus, the insurance service is an arrangement based on the principle of indemnity, in which advance purchase of the right policy and payment of regular premiums is accepted. After paying the fixed premium, the insured is relieved of major concerns.

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