You need a legal agreement to insure yourself, your health, your vehicles or anything else. These legal agreements are known as insurance. The insurance companies provide you insurance against anything for a small amount of money. These insurances are in the form of a big financial help. There are many types of insurances, but we can divide them broadly into general insurance and life insurance.
Below we will be going to discuss about that type of insurance that these two insurances covers. We will love if you get some value from our content. So I hope you will read the full article to get complete idea about the types of insurance.
1. General Insurance
In general insurance we get all type of insurance that are very helpful but in this insurance all the life related covers are excluded. Here you get insurance of various aspects of life such as health insurance, vehicle insurance, Home insurance, fire insurance, travel insurance and many more.
This is a very important insurance as apart from life there are many things that can make you financially weak if you don’t ensure them. For example if you don’t have a health insurance and suffer from a big disease, then You may end up paying large bills on hospital in similar way if you don’t have a motor insurance then you might be end up paying high maintenance bills if your car or your motorcycle gets accident.
2. Life Insurance
By name only you can see that here you will get life insurance. In this insurance you will get most common life insurances. As you know that there are many type of life insurance is also. Life insurance plays a very vital role if you care for your family and you are the only earning member of the family.
You will get here term life insurance, whole life insurance, endowment plans, Unit linked insurance plans, child insurance plans and pension plans. Life insurance is the main Insurance that people must be doing. If you ask me then I will suggest you that the best insurance is the term life insurance which is pure insurance plan.