Life insurance is a contract between an insurance company and a policyholder. The policyholder pays a premium, either regularly or as a lump sum, to the insurance company. In exchange, the insurance company promises to pay a sum of money to a designated beneficiary when the insured person dies.

Health insurance is a contract between a consumer and a company. The company agrees to cover some or all of the consumer’s healthcare costs in exchange for a premium.

Health insurance can protect you from unexpected medical costs.

It can:

Help you pay less for covered in-network healthcare, even before you meet your deductible.

Provide free preventive care, like vaccines, screenings, and some check-ups, even before you meet your deductible.

Cover road emergency ambulance costs.

Provide a cashless claim benefit.

Protect your savings during medical emergencies.

Provide tax benefits under Section 80D.

General insurance is a type of non-life insurance that protects assets from damage or loss. It’s an agreement between a policyholder and an insurer that provides compensation for damages or losses.

General insurance covers non-life assets, such as: Homes, Vehicles, Health, Travel, Pets, Events.

General insurance can protect against damage and loss from: Fire, Theft, Burglary, Floods, Accidents, Man-made disasters.

General insurance payments are based on the loss incurred, rather than being a fixed sum as in life insurance. Exclusions are items or conditions that are not covered by the general insurance contract.

General insurance can include products such as: Motor insurance, Travel insurance, Pet insurance, Health insurance, Home insurance.