Current types of insurance and basic distinctions

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Current types of insurance and basic distinctions,

Current types of insurance and basic distinctions,

Insurance is divided into many types of products

according to the subject covered, the nature of the activity, or the method of participation. 

However, the easiest way to distinguish the types of insurance is

according to the social and economic aspects. real, insurance can be divided into two main types:

State-run insurance and commercial insurance.

Commercial insurance

On the market, there are 3 types of commercial insurance including life insurance, non-life insurance, and health insurance as follows:

1. Life insurance

According to the Law on Insurance Business, 

Life Insurance is a type of insurance business in case the insured person lives or dies. Life insurance has 7 insurance lines as follows:

Term life insurance is an insurance professional in which the insured lives up to a certain period,

whereby the insurance must pay the insurance premiums to the beneficiaries

if the insured still lives to the specified term. agreed in the insurance contract.

Term life insurance is an insurance professional for the death of the insured within a certain period of time,

whereby the insurance must pay a premium to the beneficiary if...

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J.T. Ellison is the New York Times and USA Today bestselling author of more than 25 novels, and the EMMY® award winning co-host of the literary TV show A WORD ON WORDS. She also writes urban fantasy under the pen name Joss Walker.

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