Classification of Insurance Business

Individuals and groups or companies have different types of assets between one another. The need to protect the assets is also different. Just as a variety of assets, insurance policies also have different types as well. Below are some Business Insurance classification, namely:
1. Life Insurance (Life Insurance)
Coverage in Business Insurance (Life Insurance):
a. Life Insurance for Individuals
b. For Group Life Insurance (Collection)
c. Health Insurance
d. Accident Insurance
e. Pension fund
Term Life Insurance Policy:
Policy issued for a longer period for several years, or even a lifetime.
Risks are borne in Life Insurance:
a. Deaths due to illness or accident
b. Hospital (inpatient or outpatient)
c. Total and permanent disability
d. Pension fund
2. General Insurance / Loss (General Insuranse)
Business Insurance Coverage in the Public / Loss:
a. Motor Vehicle Insurance
b. Fire insurance
c. Natural Disaster Insurance
d. Travel Insurance (Business and tourism)
e. Marine Insurance
f. Terrorism Insurance
g. Insurance Professionals (Doctors, Lawyers) and others.
Term Insurance Policy General / Loss:
Policy is usually issued for a period of 12 months or even shorter.
Risks are borne in General Insurance / Loss:
a. Loss or damage to goods such as motor vehicles, ships, buildings and others.
b. Debt incurred through the sale of goods or products or processes that accompany it.
c. Building or a house fire.
d. Damage to buildings or homes due to floods or earthquakes.
e. Claims for compensation due to malpractice for physicians.
f. Lost or damaged cargo.
g. Theft.
h. Loan losses.
So clearly, the various types of insurance above are made to protect or protect the assets you have. You can determine which insurance that suits your current needs and future based on the assets you have.