In there are two types of insurance products that generally makes a product we know , among others, and life insurance losses . The following explanations may be useful :
a. Insurance Losses
Closing the coverage for loss due to damage or obliteration insured property due cause - a cause or event which the insured ( cause - a cause or danger - the danger referred to in the contract or insurance policy ) . In general insurance , the insurer receives a premium from the insured and in the event of damage or obliteration on the insured property compensation will be paid to the insured . This is an example of insurance products :
fire insurance
Sea Transport Insurance
Motor Vehicle Insurance
Boat Insurance Framework
Construction All Risk ( CAR )
Property / Industrial All Risk
Customs Bond Insurance
Surety Bond Insurance
Personal Accident Insurance
Health Insurance
and others
b . Life Insurance
Closing the insured to pay the amount of compensation due to a person's death or permanent life insurance term .In life insurance , the insurer receives a premium from the insured , and if the insured dies , the benefit ( sum assured ) is paid to the beneficiary or a person designated in the policy as beneficiaries . examples of this type of insurance is Pure Life Insurance ( Whole Life Insurance ) , Term Life Insurance , Short Term Life Insurance ( Term Insurance ) .
