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Insurance Types - Non Life

General insurance covers damage or loss to property and assets other than human life. It includes types like fire insurance, health insurance, and marine insurance. Fire insurance covers damage to property from fire. Health insurance pays for medical expenses from illness or injury. Marine insurance insures ships, cargo, and transport of property by sea against losses. Life insurance provides a payout to beneficiaries if the insured person dies or experiences a specified event like terminal illness. The Insurance Act of 1938 was India's first legislation to regulate all forms of insurance and protect policyholders.

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94 views5 pages

Insurance Types - Non Life

General insurance covers damage or loss to property and assets other than human life. It includes types like fire insurance, health insurance, and marine insurance. Fire insurance covers damage to property from fire. Health insurance pays for medical expenses from illness or injury. Marine insurance insures ships, cargo, and transport of property by sea against losses. Life insurance provides a payout to beneficiaries if the insured person dies or experiences a specified event like terminal illness. The Insurance Act of 1938 was India's first legislation to regulate all forms of insurance and protect policyholders.

Uploaded by

KR
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Non life insurance

Marine
General insurance Fire insurance Health insurance Insurance
Insuring anything other Insurance that is used to A type of insurance Marine Insurance
than human life is called cover damage to a property coverage that pays for covers the loss or
general insurance. caused by fire. Fire insurance medical and surgical damage of ships,
expenses that are incurred cargo, terminals,
is a specialized form of
 Examples are insuring and any transport
insurance beyond property by the insured. Health
property like house and or cargo by which
insurance, and is designed to insurance can either property is
belongings against fire and
cover the cost of reimburse the insured for transferred
theft or vehicles against
replacement, reconstruction expenses incurred from
accidental damage or
or repair beyond what is illness or injury or pay the
theft.
covered by the property care provider directly.
insurance policy.
Life insurance
Life insurance is a contract between the policy owner and the insurer,
where the insurer agrees to reimburse the occurrence of the insured
individual's death orother event such as terminal illness or critical
illness.
 The insured agrees to pay the cost in terms of insurance premium for
the service. Specific exclusions are often written in the contract to limit
the liability of the insurer, for example claims related to suicide, fraud,
war, riot and civil commotion is not covered.
TYPES OF INSURANCE
Insurance Act
The Insurance Act of 1938 was the first legislation
governing all forms of insurance to provide strict
state control over insurance business.
 Purpose:- to safe guard the interest of insured,
setting the norms for carrying out the business
of insurance smoothly, Minimizing disputes
INTRODUCTION
Insurance is a contract in which an individual or entity
receives financial protection or reimbursement against losses
from an insurance company

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