PRACTICE OF GENERAL INSURANCE The term General Insurance may cover everything except the life of the buyer or insured. In other words, it may be said that General Insurance is a contract that offers compensation on any loss except death to its buyers. Thus it is a much wider term than we expect. Examples of things covered under the General Insurance are house, car, scooter, bike, travel, etc.


THE PRACTICE OF LIFE INSURANCE In the event of an individual's death, life insurance will have a significant impact on the lives of the beneficiaries. The money can be used to help fund important costs, including servicing a mortgage or paying for children's college tuition. Life insurance is an arrangement between an insurance policyholder and an insurance provider in which the insurer agrees to reimburse an amount of money in return for a premium after a specified period or upon the death of an insured individual.


PRINCIPLE OF INSURANCE Insurance is a legal contract in which the individual or a company gets financial protection. It is a kind of reimbursement from the insurance company for the damage caused to the property. This legal contract for the insurance is called the insurance policy. This contract/agreement guarantees that the insured will be compensated for any damages incurred as a result of contingency. On another side, the insured pays a premium in return for the promise made by the insurer.

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