Types of Insurance
What Is Insurance?
Insurance refers to a contract represented by a policy where an individual or entity is set to get reimbursement or protection against losses in exchange for constant payouts known as premiums. There are generally two types of insurance businesses, namely personal insurance and general insurance.
Personal Insurance refers to cover against personal harm that may occur as a result of accidents, maladies, and death. This, therefore, means that personal insurance is effectively subdivided into different categories, such as life insurance, health insurance, and personal accident insurance.