General insurance
Insurance policies can cover various risks, including property damage (fire, flood, theft), accidents, and health expenses.
Types of general insurance:
Common types include health insurance, motor insurance, home insurance, and travel insurance.
Key difference from life insurance:
While life insurance focuses on financial protection for beneficiaries after a person's death, general insurance protects against losses or damages related to property, health, or other non-life risks.
Purpose
The main purpose of general insurance is to provide financial security and peace of mind by covering unexpected losses or damages that may affect individuals and their assets. Travel insurance provides financial protection if you face certain problems when you're travelling or on holiday. It covers a range of possibilities, from lost luggage to the cost of medical care if you become ill or have an accident.
