BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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false
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true
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Either A or B
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None of the above
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Detailed explanation-1: -Then we examine in greater detail the three most important types of insurance: property, liability, and life.
Detailed explanation-2: -Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance. A general insurance policy pays for the losses that are incurred by the insured during the period of the policy.
Detailed explanation-3: -The Indian Insurance Sector is basically divided into two categories – Life Insurance and Non-life Insurance. The Non-life Insurance sector is also termed as General Insurance. Both the Life Insurance and the Non-life Insurance is governed by the IRDAI (Insurance Regulatory and Development Authority of India).
Detailed explanation-4: -Whole life insurance and term life insurance have two major differences: Whole life insurance continues until your natural demise or 100 years of age. Term life insurance has a definite term which must end before you reach 100 years of age. Whole life insurance also has an investment component.