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Q.

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

Tags: money, relationships, insurance
Asked by elizafernandes, 19 Jan '12 02:12 am
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Answers (7)

1.

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.
Answered by LIPSIKA, 19 Jan '12 06:36 am

 
  
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2.

General insurance covers insurance of motor, home, travel and health except life. And life insurance is the insurance for life against sum of money which you get after the death of a insured person.
Source: http://www.iffcotokio.co.in/
Answered by Jessica Kappor, 10 Oct 02:36 pm

 
  
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3.

Life insurance is insurance for life against a sum of money paid on the death of the insured or after a stipulated time frame whereas General Insurance is insurance except life insurance and it covers vehicle insurance, travel insurance and home insurance for example Liberty Videocon General Insurance.
Source: http://www.libertyvideocon.com/
Answered by Riya Rozer, 17 Apr 02:40 pm

 
  
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4.

Life insurance is use to protect our life. And general insurance for non living thing.
Answered by Alex Goza, 28 Sep '12 03:43 pm

 
  
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5.

Life insurance is for human being and general insurance is for like vehicle, home, fire, etc.
Source: http://www.probondins.com/
Answered by Probondins, 04 Feb '12 05:12 pm

 
  
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6.

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. Thats why I decided to go for Bajaj Allianz's Life insurance plan to secure my life.
Answered by ambuj kumar, 19 Jan '12 02:32 am

 
  
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7.

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. Thats why I decided to go for Bajaj Allianz's Life insurance plan to secure my life.
Source: http://www.bajajallianz.com/Corp/life/life-insurance.jsp
Answered by rohan tripathi, 19 Jan '12 02:25 am

 
  
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