Types of Insurances

There are basically two types of insurances

• Life Insurance
• General Insurance 

Life Insurance:  Life Insurance is a contract providing for payment of a sum of money to the person assured or, following him to the person entitled to receive the same, on the happening of a certain event.  It is a good method to protect your family financially, in case of death, by providing funds for the loss of income.

General Insurance: General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance typically comprises any insurance that is not determined to be life insurance.

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