Topic: Life insurance and general insurance - difference between the two please explain

please advice

This message was edited 1 time. Last update was at 06/11/2009 11:03:23

Insurance is part of risk mitigation strategy. One can virtually insure anything that has economic value provided he/she has insurable interest .For convenience anything that relates to human life is classed as life insurance and anything that is not life assurance is called non life insurance. Life Insurance is done only on the human life...& general insurance can be done both living & non living things..like car, house & mediclaim of human being. To elaborate further, life insurance general Death inclusive of unnatural death while general insurance covers all contingencies of Life except natural death such as accident, unnatural death,health/medical, fire, theft, vehicle, etc., n simple words, Life Insurance covers your life and general insurance covers your belongings including your health.

AbeyChacko wrote:please advice

This message was edited 1 time. Last update was at 11/11/2009 12:28:25

is it the same as variable insurance wherein you can increase or decrease your insurance coverage for the same premium or universal life have a fix premium for a given age and amount and if you want to increase your coverage, you just add a yearly term insurance?How do you increase its coverage? Will it affects the premium if you want additional coverage? I understand variable life insurance has a range of minimum to maximum coverages for a given premium, is it the same with universal life?please explain in details how the entire process works.
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Health Insurance tx

AbeyChacko wrote:please advice

................life insurance is good family building

This message was edited 1 time. Last update was at 11/01/2012 01:02:57

Sure

rock wrote:

AbeyChacko wrote:please advice

sachinarora wrote:Insurance is part of risk mitigation strategy. One can virtually insure anything that has economic value provided he/she has insurable interest .For convenience anything that relates to human life is classed as life insurance and anything that is not life assurance is called non life insurance. Life Insurance is done only on the human life...& general insurance can be done both living & non living things..like car, house & mediclaim of human being. To elaborate further, life insurance general Death inclusive of unnatural death while general insurance covers all contingencies of Life except natural death such as accident, unnatural death,health/medical, fire, theft, vehicle, etc., n simple words, Life Insurance covers your life and general insurance covers your belongings including your health.

This message was edited 2 times. Last update was at 19/01/2012 02:22:03

General Insurance is basically covers the things that has a financial value in life and has a probably of getting lost, damaged or stolen. General Insurance provides protection against unforeseen events like accidents, illness, fire etc. Unlike life insurance, General insurance is not meant to offer returns but protection against contingencies. In Life insurance, policy provides cover for a set period of time. If the worst were to happen during that time, then the insurance company will be required to pay out the agreed sum to the beneficiary. That’s why I decided to go for Bajaj Allianz's Life insurance plan to secure my life.

Life Insurance cover the insurance of our life , we can say it is of every individual who want to make his life financially secure. General Insurance is non life insurance it includes car insurance, shop insurance or any other thing for which we would like to save money for future.

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Insurance other than ‘Life Insurance’ falls under the category of General Insurance. General insurance is basically an insurance policy that protects you against losses and damages. While life insurance insures your life that you have an economic interest in like your spouse, children etc.
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http://buyonline.aegonreligare.com/default.asp

Insurance other than ‘Life Insurance’ falls under the category of General Insurance. General insurance is basically an insurance policy that protects you against losses and damages. While life insurance insures your life that you have an economic interest in like your spouse, children etc.
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Online insurance

Life insurance is an insurance coverage that pays out a certain amount of money to the insured or their specified beneficiaries upon a certain event such as death of the individual who is insured.
General insurance is basically an insurance policy that protects you against losses and damages other than those covered by life insurance. For more comprehensive coverage, it is vital for you to know about the risks covered to ensure that you and your family are protected from unforeseen losses.

AbeyChacko wrote:please advice

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