There is a distinction between the types of insurance one is life insurance and other is non-life or general insurance. As an individual, you will be covered under the Life insurance policy. The reimbursement under the policy can be withdrawn on the event of death or maturity of the policy. On the other hand, a General Insurance Policy will pay for the losses that may occur during the policy period only.
Almost everything is insurable. However, General Insurance in India is bifurcated as Fire, Engineering, Marine and Miscellaneous Insurance. Let us look at them as per the use and general acceptability. Following are the different types of General Insurances in India:
The Health Insurance cover from Digit offers protection for the medical expenses incurred due to hospitalization caused because of an accident or illnesses. Although every policy is different, based on who it's being purchased for
A Motor Insurance Policy is mandatory to be able to drive legally in India. Broadly there are two types a) Third-Party Liability b) Comprehensive Package Policy.
You build your home with your toil and hard earned money. Everything you buy is a priceless possession for you and hence it needs to be protected. A Home Insurance Policy protects your valuable and other assets. It is a comprehensive package policy that covers all valuables.
Travel Insurance covers your financial liability, if any, when you travel within or beyond the Indian boundaries. The financial liability may arise due to medical or non-medical emergencies.
