What is the difference between Life Insurance and General Insurance?
Answer:
there is no such term as general insurance.
If you mean "General Liability Insurance", it is insurance you can buy that covers your liability to 3rd parties.
:o)
Life insurance pays money to the relatives of the deceased once s/he dies.
General insurance covers medical bills, in part or whole.
I'm not sure what you mean by "general insurance." I don't think there's any such thing.
Life insurance pays your beneficiary, under certain terms and conditions, the amount you choose when you purchase the policy.
Other types of insurance include homeowner's insurance (for your home and its contents), renter's insurance (for contents of your residence when you rent), auto insurance (for your vehicle), health/medical insurance, disability insurance (usually through your job), title insurance (when you're purchasing property), worker's compensation insurance (through your job), flood insurance (for damage to your residence by flood), travel insurance (if you can't go on a trip that you've planned and paid for). I'm sure there are others.
Hope this helps.
As the name itself suggests, Life Insurance covers mainly the life of the policy holder whereas General Insurance covers all other insurance of items like vehicle, machinery, building etc.
General insurance is . . . any kind of insurance, generally. It's not a technical term, it usually means property & casualty insurance, but is subjective. Life insurance insures a life, against death, only.
Life insurance is for the matter of life or death. Of course you can save money for your self or your designated beneficiary. However, General insurance, I guess that it may means Health insurance or General Liability Insurance!
life insurance covers only humanbeing lives covered with insurance. and general insurance covers live and non live things covered with insurance.
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