What are the types of insurance ?

Question

Accepted Answer

There are various types of insurance such as life, health, auto, home, travel, pet, and business insurance.

Life insurance provides financial support to the family of the policyholder in case of their death.
Health insurance covers medical expenses of the policyholder and their family.
Auto insurance covers damages caused by accidents or theft of the insured vehicle.
Home insurance covers damages to the insured property due to natural disasters or theft.
Travel insurance covers unexpected events during travel such as trip cancellation, medical emergencies, and lost luggage.
Pet insurance covers veterinary expenses for pets.
Business insurance covers losses due to business-related risks such as property damage, liability, and employee injuries.

Accepted Answer

Life insurance   Life insurance
Provides a death benefit to beneficiaries. Some types of life insurance include: 
Endowment plan: A type of life insurance that also functions as an investment plan. 
Whole life insurance: Provides coverage for the policyholder's entire life, and also builds cash value over time. 
Term life insurance: Provides financial protection for a specific period of time.

Motor insurance
Covers vehicles against theft or damage, and provides liability protection in case of accidents.

Home insurance
Protects properties from natural disasters or man-made perils.

Travel insurance
Covers risks while traveling, such as lost luggage, flight cancellations, and medical expenses. 
Pension plan
An investment plan that helps create retirement funds. 
Unit-linked insurance plan (ULIP)
Combines insurance and investment elements. A portion of the premium is invested in a mutual fund. 
Other types of insurance include: Health insurance, Fire insurance, and Marine insurance.

What are the types of insurance ?

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