Articles
What are the different types of general insurance?
by Kanika Shelatkar Insurance ConsultantLife is a precious gift of nature which nobody would want to
lose or put at stake. They would always value it because there is only one and
how much every time they spend, they would want to gain the most. Accidents and
problems come without notice and destroy a person’s life. Many people lose
their lives or become handicapped, which affects their motor skills and organs.
Hence, everyone should buy general insurance to claim their
expenses, whether it concerns their health or the vehicle. Standard forms are
automobiles, Mediclaim, marine, travel, homeowner’s insurance, and many others.
Insurance companies offer payment to the policyholder for the loss suffered in
a financial event. These policies do not last lifelong, unlike life insurance.
They last only for a limited period until the event lasts. Some products also
have long-term benefits.
Following are the types of insurance policies:
Motor insurance: It covers all damages and
liabilities of a vehicle against all emergencies. A comprehensive policy even
covers damages made by natural and human-made calamities, including terror
attacks. It also pays for any third-party liabilities determined as per the law
for the owner. It is mandatory to have this insurance as per the Motor Vehicles
Act, 1988.
Health insurance: People buying general insurance in India
can claim insurance on their health as well. Since healthcare costs are on the
rise, many families cannot afford to spend on treatment and medication for the
illness. With the help of an insurance policy, they can manage financial crises
and lead a healthy lifestyle. It includes cashless facilities at hospitals,
hospitalisation expenses, ambulance charges, cash allowances, etc. The types of
policies under this category are individual policy, family floater policy,
surgery cover, and comprehensive insurance.
Travel insurance: Technology has changed the whole
scenario of operations of services worldwide. Every feature is available on
PCs, laptops, smartphones, and tablets. Nowadays, people can buy general insurance online, which
covers travel expenses also. Whether it is a business trip or a family
vacation, any incident where the bag, passport or belongings gets misplaced,
the policy provides a cover for it. It includes flight delays and medical
emergencies, as well. Types of travel insurance policies include family travel,
individual travel schemes, senior citizen policies, and student travel
policies.
Sponsor Ads
About Kanika Shelatkar 
Insurance Consultant
11 connections, 0 recommendations, 73 honor points.Joined APSense since, March 18th, 2019, From mumbai, India.
Created on Aug 25th 2020 00:39. Viewed 349 times.
