How many types of insurance products are there in the market?

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    Keymaster

    Broadly, there are two types of insurance that is, Long term and general or short term insurance. Long term insurance is those insurances which are for a period more than one year. These are life and retirement benefit policies. The products under these include:

    Term insurance;

    Endowment; and

    Whole life.

     

    General insurance on the other hand, are those insurances that are of a period of one year or less. Examples of products under general insurance include.

    Fire Insurance

    Motor vehicle insurance,

    Theft Insurance,

    Marine insurance,

    Aviation insurance,

    Agricultural insurance,

    Education Insurance

    Medical Insurance.

    Goods in Transit

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