General Insurance
You & your family covered.
All your protection under one roof.
A general insurance policy is a property insurance product that includes a number of general insurance policies. Common forms of general insurance in India are auto, Mediclaim, homeowner, marine, travel and others. The policy provides the policyholder with a payment based on the loss incurred as a result of a specific financial event. General insurance is insurance that is not categorized as life insurance.
Unlike life insurance, general insurance policies are not usually held for life. The usual period extends over the duration of a specific economic activity or a specific period of time. Most general insurance products are annual contracts. few products that have a long shelf life.
Types of General Insurance
You & your family covered.
The Concept of
General Insurance
The concept of insurance applies to a large group of people who may be suffering from the same problem in the same region or condition. The money collected as a premium can be viewed as a common fund and if you suffer a loss you will be paid from this pool.
Still confused about what general insurance is and what general insurance means? If yes, follow the example below:
Assuming your family member has had a heart attack and needs a transplant immediately. At the same time, you have to pay the tuition fees for your daughter's first year. Now you have huge expenses to cover in a row and both issues have the same priority. During this stressful time, health insurance for your family can be shared your burden and you can pay your daughter's fees with peace of mind from your savings. In this way, general insurance in India acts as your savior.
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