Classification of Insurance

Classification of Insurance:

Insurance is classified into 4 parts for your convenience.

* Insurance of Person

* Insurance of Property

* Insurance of Interest

* Insurance of Liability

Detailed explanation of Insurance of Person:

A person can insure his/her life and his health against unplanned consequences.
* After his/her death the family will receive the money that he is insured for.
* If the insured person met up with accident or any health problem which he gonna die he will be paid the sum assured.
* If the accident is not severe the medical insurance will cover his hospital and health expenses under the terms and conditions of Insurance Company.

Detailed explanation of Insurance of Property:

Every one possess property in the form of land, vehicle etc. The property which is in the physical form may be affected by unseen consequences. To overcome the damage for the property Insurance of Property helps you under terms and conditions of the Insurance Company.

Detailed explanation of Insurance of Interest and Liability is explained in the next post.