Various types of Insurance
There are many kinds of insurance which offered by insurance companies. Perhaps some kinds of the insurance have been very familiar to our ears, like fire insurance, general insurance, health insurance, car insurance, etc. While actually there are some more specific kind of insurance we might not know. Like property insurance, burglary insurance, or forwarding insurance. Usually these kinds of insurance are taken by certain kinds of business or company which have correlation with.
Actually the grouping or division of insurance doesn’t always in the same patterns. Company A might include health insurance as a part of life insurance, while Company B may put health insurance as a dependant insurance type.
Some other grouping of insurance can be by it’s term. It can be a long-term insurance like life permanent life-insurance. It can be in short term, like education insurance and car insurance. Or else, sometimes insurance company also offers short-term insurance, insurance as endowment and investment.
Social Insurance and Collective Insurance are other types of insurance. Social insurance is commonly managed by the local government, for the sake of the employees’ future. If you ever heard Pension Insurance, it is one example of it. The rate received by the Pensions , is actually their own saving, a certain amount of money which gotten from subtracting from their own salary, during their work.
Further about each kinds of insurance will be described in the next posts.
Nice info