Insurance business is growing very fast in India , in which many big companies are involved, the central government provides insurance related services through Life Insurance Corporation of India  . The concept of insurance has been created to compensate for any loss that may occur in the future, this provides partial assistance to the family of the person affected by the loss, thereby securing the future of the family. Every person should do as per requirement but due to lack of information, they are not able to join the insurance scheme. On this page, what is insurance types of insurance , difference between life insurance and general insurance is being explained. 

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What is Insurance  ?

Insurance means contract. It can be understood in this way, when a person makes such a contract with an insurance company, in which he gives insurance to the insured or the person nominated by him in case of any kind of economic or human loss. An amount of Rs. 100,000 is provided, which provides some relief to the insurance holder or his family. This received amount of money is called insurance.

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Types of Insurance

Generally there are two types of insurance-

LIFE INSURANCE

GENERAL INSURANCE

LIFE INSURANCE

LIFE INSURANCE means that if the person taking the insurance policy dies as per the condition prescribed in the policy, then the policy is issued to protect the dependents of that person like wife, children, parents etc. from financial crisis. A fixed amount of money is provided in the policy, hence every person is encouraged or advised by the government to participate in life insurance while making financial savings.

GENERAL  INSURANCE

In general insurance, things like vehicle, house, animals, crops, health insurance etc. are insured, due to which in case of any damage, it is compensated by the insurance company. In this, financial assistance is received in renewing the things. is.

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Life Insurance and General Insurance  DIFFERENCE

The main difference between life insurance and general insurance is human life. In life insurance, if a person dies during the tenure of the policy, then the amount insured by that person is given to his dependents.

In general insurance, the goods are insured, if there is any kind of damage to the insured goods during the policy period, then a fixed amount of money is provided by the company to compensate for it.

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Here we have provided information about the types of insurance , difference between life insurance and general insurance, if you have any question in your mind related to this information, or want to get any other information related to it, then You can ask through the comment. . , box, we are waiting for your feedback and suggestions.

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