What Are The 7 Types Of Insurance?

What Are The Types Of General Insurance?

A policy or agreement between the policyholder and the insurer is considered only after the realization of the premium. The premium is paid by the insurer who has a financial interest in the asset covered. The insurer will protect the insured from financial liability in case of loss.

• Car Insurance
• Health Insurance
• Travel Insurance
• Home Insurance
• Commercial Insurance
• Marine Insurance

What are the Different Types Of Insurance Policy?

Insurance policies in India are broadly classified into Life and General insurance. Life insurance includes term plans, ULIPs, and endowment policies for financial security. General insurance covers assets through motor, health, home, and travel insurance. Each category serves a specific purpose, such as protecting against medical emergencies or vehicle damage. Policyholders should check specific inclusions and exclusions before finalising any plan.

What are Types Of Insurance?

Insurance types are divided into Life and Non-Life (General) categories. Life insurance focuses on mortality risks and long-term savings for the family. General insurance covers assets like vehicles, houses, and health against unforeseen damages or expenses. Within these, you find specialized plans like Third-party motor cover or Comprehensive health plans. Each type carries its own set of waiting periods and specific permanent exclusions. Consult your advisor for details.

What are the Different Types Of Insurance?

Insurance is broadly classified into Life and General Insurance. General insurance includes categories like Motor, Health, Travel, Home, and Marine insurance. Life insurance includes Term, Endowment, and Unit Linked Insurance Plans (ULIPs). Each product serves a different purpose, ranging from mandatory legal compliance to long-term wealth creation. Specialized policies also exist for commercial risks and professional liabilities. Always choose a plan based on your specific financial needs.

What are the 4 Types Of Insurance?

The four primary categories include Life, Health, Motor, and Property insurance. Life insurance provides financial support to beneficiaries upon the death of the insured. Health insurance covers medical expenses for illnesses or accidents. Motor insurance is mandatory for vehicle owners to cover third-party and own-damage risks. Property insurance protects physical assets like homes or businesses against fire, theft, and natural disasters. Each type has specific exclusions.