Life insurance Life Insurance Vs. Non-Life Insurance

[Mika]

Insurance can be broadly categorized into two types: Life Insurance and Non-Life Insurance.

What is Life Insurance?

A life insurance policy is a policy that covers health insurance as well as life insurance. The maturity period can be for a short term as well as a long term. Health insurance takes of your medical bills whereas life insurance covers accidents, terminal illness, and loss of organs.

What is Non-Life Insurance?

Non-life insurance policy is a policy that covers the areas like auto insurance, house insurance, business insurance, etc. Non-life insurance generally is for short time. Non-life insurance will cover the loss or damage against your insured property. Let say, you have insured your car and your car is damaged in an accident. Your insurance company assesses the damages and provides benefits accordingly. However, if your insured property is not damaged during the insured period, you do not get any benefits.

 

[Mandy96]

I think life insurance is the only one that seems fair out of the whole policies that I know of. It is very straight forward and easy to understand. The other ones are also good but most of them are not compensated with money of which that is what you invested in the first place

 

[Phabbyfundz]

Life insurance policy in all its glory is one of the most essential forms if insurance as it benefits and importance cuts across different aspects of our existence and provides numerous coverage to the policy holder. Life insurance policy also provides coverages for heath related problems and even gives death benefits.

 

[Wisdom01]

Life insurance covers both health and risk that involves one's life while the non life insurance is quite the opposite for me , the explanation seems to be very much clear , the one that should be more considered most is the life insurance policies as it involves one's life

 

[MOSIUR]

Life insurance is a focused point to consider to be policy. It is really needed for life, you have divided into two parts. Yeah! It is thoroughly related to health. For the sake of life and health, this policy is being popularized day by day. At any time, one may fall into fatal accidents. Thanks for posting it.

 

[Wisdom01]

Life insurance is a focused point to consider to be policy. It is really needed for life, you have divided into two parts. Yeah! It is thoroughly related to health. For the sake of life and health, this policy is being popularized day by day. At any time, one may fall into fatal accidents. Thanks for posting it.

I think most people actually do get the plan also for them to recieve benefit and it would be more like a saving option that could be better for them either way some actually don't consider in terms of safe guarding their health , since they have the health insurance policy to buy the coverage for such insurance policy

 

[Alexandoy]

Most of the big insurance companies here deal with both life and non-life insurance. But I have noticed that it would depend on the insurance agent. What I mean is an insurance agent who is selling fire insurance and auto insurance more likely does not sell life insurance and vice versa. Maybe they have a different orientation on the type of insurance to sell.

 

[Jasmine]

I have a life insurance as well as non-life insurance. I have a term life insurance and I have insured my motorbike. The primary purpose of my life insurance is to get coverage against accidents and secondary purpose is to claim insurance amount along with bonus upon maturity. Non-life insurance is to cover financial risk.

 

[Chibson]

Definitely life insurance and no life insurance are the two categories of insurance in which every insurance company operate on. Life insurance includes the health of an insurer and can do a very long way in saving people money. Non life insurance includes properties and other kinds of insurance as the case may be.

 

[Jasmine]

Some companies sell only life insurance policies and some companies sell only non-life insurance polices. There is a clear difference between life insurance policy and non-life insurance policy. In many countries, the country law forbids to sell life insurance policies by non-life insurance companies and vice versa. Life insurance does not just cover health issue.

 

[sincerem]

Both are very much needed in order to secure our lives and property in case of any future disaster. Non - life insurance package is mainly the individual's property, while the life insurance comes to do with the general well-being of the individual. We need security when it comes to the life, and our hard earned property.

 

[Augusta]

I like this case of being insured and all but the problem I hsve is this issue of not having any benefit of nothing had happened within the stipulated time of the insurance coverage. The should of bern a law of of getting ones at least half payment when the duration is over