Life insurance
A term life insurance policy is the simplest, purest form of life insurance: You pay a premium for a period of time – typically between 10 and 30 years – and if you die during that time a cash benefit is paid to your family (or anyone else you name as your beneficiary).
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General Insurance
Insurance contracts that do not come under the ambit of life insurance are called general insurance. For this purpose, general insurance products are bought as they provide protection against unforeseeable contingencies like damage and loss of the asset.Health Insurance, Vehicle Insurance, Home Insurance are few types of General insurance.
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