give that meaning of general insurance
Answers
Explanation:
Insurance contracts that do not come under the ambit of life insurance are called general insurance. ... For this purpose, general insurance products are bought as they provide protection against unforeseeable contingencies like damage and loss of the asset.
In general, insurance plans offered in India are broadly classified into three types. These are called life insurance, general insurance, and health insurance. Life insurance offers financial assistance in case of death or disability caused to a person.
General insurance comprises insurance of property against fire or burglary, personal insurance such as accident and health insurance, and liability insurance that covers legal liabilities. ... One of the main reasons why one should go for insurance is to protect ones belongings and assets against financial loss.