Home / Insurance / How many types of insurance are there?

How many types of insurance are there?

types of insurance,insurance,types of life insurance,life insurance,principles of insurance,types of insurance policy,types of life insurance in india,health insurance,types of insurance in tamil,insurance policy,insurance types,car insurance,benefits of insurance,main types of insurance,types of car insurance,home insurance,types of insurance agents,types of insurance in hindi,how many types of insurance,types of insurance class 11
How many types of insurance are there

How many types of insurance are there?

Types of insurance – Good question! There are basically two types of insurance available today, they are life and general insurance. I will explain both to give you a better understanding.

Life insurance – is of many types such as term insurance, endowment insurance, ULIP, moneyback policies, etc. They all cover your life and provide compensation in case of an unfortunate event. They just differ in the way they function. For example, term insurance is the most basic type of cover – it only provides a payout in case of death. Endowment policies offer some return on investment whereas ULIPS are a combination of life insurance and mutual funds

General insurance – is of many types such as travel, home, health & motor insurance. You can guess their purpose from their names – health insurance cover medical expenses, travel insurance protects you from the financial cost in case things go wrong on your trips, motor insurance covers damages & total loss of your vehicle in a number of instances & home insurance protects the structure & contents of your home. This is why general insurance

is so important, it covers all the things you hold precious in your life.

All types of insurance are important – they protect your life and your valuable assets and keep you safe from major financial strain. Life and health insurance also have tax benefits that will help you save money as well. Motor insurance is one of the compulsory general insurance plans. You need to have at least third-party motor insurance if you own a bike or car in India.

Both are best bought online – if you need to buy general insurance or life insurance, it is best that you purchase it online. This helps you avoid middlemen and allows you to make the purchase at your convenience. You do not have to visit a branch, fill an endless amount of form or submit a stack of documents.

I hope this has been helpful, good luck and all the best!

 

NEXT TO >

About Princechapman

Check Also

types of life insurance,types of insurance,insurance,life insurance,types of life insurance in india,types of car insurance,types of insurance policies in india,types of general insurance,types of life insurance policies in india,different types of life insurance policies,health insurance,principles of insurance,types of insurance policy,main types of insurance,types of insurance plans,types of insurance policies,types of insurance in tamil

What are the basic types of insurance?

What are the basic types of insurance? Basic types of insurance – There are SIX …

Leave a Reply

Your email address will not be published.