General Insurance will give protection from all the unforeseen events

As you all know that life is full of risks and insecurities. We don’t know what is going to happen to us even in the next few minutes. Now we are fine but in the very next moment maybe some unforeseen incident can happen to us. There are some of the things that are very important for our family. They are home, cars, shops, etc. In this matter, the general insurance will play an important role in our life.



What is the importance of general insurance in our life?


We can be the sufferer of a natural disaster like an earthquake, floods, storm, landslides, etc. Apart from the natural disaster, the other types of issues can also happen to our life. For example, we may get involved in some of the legal issues or problems and we don’t have a way out. So in this situation, general insuranceand such policies will play a crucial part to provide help in that situation of life. General insurance is very much important in our life to protect ourselves and our family from the bad events occurring in our life.



What are the types of General Insurance?


The followings are the types of general insurance and they are:


  • Health Insurance

Most people try to save money for the future for the treatment of any illness. But due to the increase in the expenses of the treatment, sometimes they cannot afford the expenses. So for them, only health insurance will play a vital role. The health insurance will give coverage or fund for medical or surgical expenses of an individual.


  • Vehicle Insurance

Accidents can happen at any time in life. Due to the increasing number of the two-wheelers and the four wheelers accidents are happening more nowadays. So vehicle insurance is a type of insurance that provides financial protection against damage of bikes or body injuries happened due to accidents.


  • Travel Insurance

Travel Insurance is a type of insurance that provides coverage against loss of baggage and loss of passports.This insurance covers all the risks which are involved with travelling either within India or to abroad.


  • Home Insurance

Home is the most comforting place for anyone. Thus, the homed insurance company will provide a fund in case of loss of your shelter. The loss can be due to man-made or from the natural disasters.



What are the increasing demands and scope of the General Insurance?


  • Health sector

According to the health sectors, 2% of the expenses of health are being covered by Health Insurance. 17 – 18% urban people and less percentage of rural people get the coverage of health insurance.


  • Contribution of Government

All the public and the private sectors are helping the government to add all the low-income people under the scheme of “Pradhan Mantri Fasal Yojona.


We should try to invest in general insurance policies apart from the other schemes to protect our life.

Related Articles

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *