Type of Insurance
Insurance Types of Insurance Business are; Life Insurance or Personal Insurance. Property Insurance. Marine Insurance. Fire Insurance. Liability Insurance. Guarantee Insurance. Social Insurance. These are explained below. Life Insurance Life Insurance is different from other insurance in the sense that, here, the subject matter of insurance is the life of a human being. The insurer will pay the fixed amount of insurance at the time of death or at the expiry of the certain period. At present, life insurance enjoys maximum scope because the life is the most important property of an individual. Each and every person requires the insurance. This insurance provides protection to the family at the premature death or gives an adequate amount at the old age when earning capacities are reduced. Under personal insurance, a payment is made at the accident. The insurance is not only a protection but is a sort of investment becau...