- Life Insurance or Personal Insurance.
- Property Insurance.
- Marine Insurance.
- Fire Insurance.
- Liability Insurance.
- Guarantee Insurance.
- Social Insurance.
Insurance provides economic protection to the insured. It provides financial protection to the insured against the unexpected losses in consideration of nominal amount called premium. It provides financial protection to the dependent in case of pre-matured death of insured.
Pay Off Debts: A life insurance policy can pay off any debts that you leave behind that would be a burden to your family. Debts such as a a mortgage, credit cards, car loans and even your funeral expenses can have a dramatic impact on your family and their lifestyle.